The satellite antenna market is estimated to be valued at USD 2.05 billion in 2017 and is projected to reach USD 2.99 billion by 2022, at a CAGR of 7.85% during the forecast period.

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Technological advancements in the field of satellites have provided lucrative growth opportunities to satellite manufacturers. Factors such as affordable cost of satellites, use of advanced mechanics, ease of assembling, mass production of satellite components, and long life cycle of satellites have led to the expansion of the satellite industry, thereby contributing to the growth of the satellite antenna market.

The increasing trend towards the development of off-the-shelf CubeSat and reusable rocket technology is further anticipated to drive the growth of the satellite antenna market. Currently, the satellite antenna market is the most developed in the North American region, especially the US, however the market in Europe and Asia Pacific is projected to witness significant growth during the forecast period. Radio spectrum availability issues and lack of qualified workforce are key challenges impacting the growth of the satellite antenna market.

Increased deployment of small satellites driving the growth of the market

There is a growing trend in the satellite industry to reduce the weight of satellites and their payload, which, in turn, has propelled satellite manufacturers to focus on the development of miniaturized satellites. These small/miniaturized satellites are increasing in number in comparison to the medium and large satellites. A constellation of small satellites, which vary from 24 to 200 satellites, is required for the global coverage of the Earth.

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Each of the satellites in the constellation needs to be equipped with a robust antenna for the effective execution of varied functions. Despite their small size, small/miniaturized satellites are capable of providing relatively sophisticated services. These satellites are utilized for a large number of civil and military operations across the globe. Thus, the increased use of small satellites has resulted in the development of antennas capable of handling complex operations, thereby influencing the growth of the satellite antenna market.

Increase in the number of space exploration mission pushing the growth of satellite antenna market

The increase in the number of space exploration missions, such as interplanetary missions, has resulted in the growth of the satellite industry. The increase in applicability of small satellites, development of cost-effective components of satellites using technologies such as additive manufacturing, and rise in space exploration budget of emerging countries have led to an increase in space exploration missions, thereby influencing the growth of the satellite antenna market.

The Asia Pacific satellite antenna market is expected to witness the highest CAGR, owing to the increased use of satellite antennas in automobiles in the region. With the recent space exploration missions by space agencies in Asia Pacific region such as Indian Space and Research Organization (ISRO) and China National Space Administration (CNSA), the satellite antenna market has witnessed significant growth.

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