Satellites play a vital role in today's digital age. Most industries rely on satellite technology for various applications, from agriculture to banking to transportation.
Due to the increasing demand for cellular and satellite connectivity services from various end users, such as defense and government, aviation, automobiles, oil and gas, marine, logistics and transportation, the global space economy has grown rapidly.
Between the years 2003 and 2018, aerospace company giants such as Europe Space Agency (ESA), National Aeronautics and Space Administration (NASA), and Japan Aerospace Exploration Agency (JAXA) have been experimenting in the hybrid satellite cellular terminal market, and have made major breakthroughs by transforming the entire space industry by developing unique products.
Owing to the increasing demand for connectivity development in recent years to meet the growing market demand for cellular satellite communications, the communications industry has experienced significant growth.
On the 7th of August, it was announced that OQ technology is setting up a European 5g satellite test center in Luxembourg and is developing a satellite network for the Internet of Things (IoT) based on proprietary basestation software and last year applied for terrestrial and satellite spectrum for 5G services. The company has planned a network of 60 satellites in low earth orbit (LEO), with the first, Tiger 2, launched in June 2021.
According to the recently published market intelligence on the hybrid-satellite cellular terminal market by BIS Research, the market is expected to reach $696.4 million by 2031, with a CAGR of 22.81% during the forecast period 2021-2031.
The major trends influencing the growth of the hybrid-satellite cellular market include-
• Emergence of IoT and M2M market
• Broadband services
Several major players, such as SpaceX and Amazon, are concentrating on establishing satellite communications constellations, which is another one of the factors driving the growth of the global hybrid satellite cellular terminal market.
Some of the challenges faced by the hybrid satellite cellular terminal market are as follows-
• Difficulties in creating communication between satellite and hybrid-satellite cellular terminal
• Unfavorable government regulations
Companies such as Hughes, Kymeta Corporation, Inmarsat, and OQ Technology have revolutionized the way consumer devices (such as mobile satellite terminals) are perceived in the early days.
In May 2021, the Hughes Network System launched the Hughes 4510 hybrid satellite/cellular terminal for key missions in maritime, land, and mobile applications in remote areas of Europe.
Government space organizations, R&D centers, the private sector, and educational institutions are focused on developing more efficient integrated connectivity solutions to support the hybrid satellite cellular terminal market. In addition, with the planned launch of communication satellite constellations for various end users such as defense, government, and business, the small satellite market is expected to witness rapid growth.