The rise in the research and development efforts and associations between space organizations and universities have accelerated innovation in the space industry. In the recent past, space and communication sectors have witnessed several developments that can help cater to the growing market demand for satellite communication. 3D printed electronic components, reusable rockets, lasercom, and multispectral communication are some of the major advancements that have been identified within satellite connectivity and the space sector.
On December 23, the European Commission nominated certain companies, including Arianespace, Airbus, Eutelsat, Hispasat, OHB, Orange, SES, Telespazio, and Thales Alenia Space, from the satellite industry. These companies have been asked to study the satellite-based connectivity system. This advancement is expected to provide secure communication services to the EU and its member states, and broadband for European citizens, companies, and mobility sectors.
According to the market intelligence published by BIS Research, titled Satellite Connectivity Market, the market was estimated at $32.88 billion in 2019 and is expected to grow at a CAGR of 13.09% during the forecast period, 2020-2027. The growth is attributed to the growing dependency of uninterrupted satellite connectivity systems, increasing adoption of new technologies like IoT and AI in the satellite connectivity market, and increasing use of reusable launch systems and cubesats to reduce satellite launch costs.
In addition, the satellite connectivity market is in the process of receiving several funding and investments. For instance, OneWeb, a London Communications company, has recently secured a funding of £293m for launching new satellites.
Other than the factors driving the growth of the market, the satellite connectivity market is also experiencing challenges such as increasing space debris and limited in-orbit space to launch new satellites. More than 500,000 pieces of debris have been estimated to be present in space by 2019. The presence of debris in space can cause potential damage to satellites and space vehicles. The aggressive approach by industry players like SpaceX and Amazon to launch 12,000 communication satellites by 2027.
In addition, the introduction of futuristic technologies has a significant impact on the satellite connectivity market. This can be understood from aspects including the introduction of multicarrier modulation (mcm) to increase the operational efficiency of satellite connectivity, emergence of 5G technology, and adoption of laser communication to increase data transfer rates, among others.
Further, a significant rise in the requirement of high-speed data transfer and broadband services at the commercial front has been observed. Industry players are engaged in providing innovative services by altering multiplexing carrier modulations to cater to this shifting trend in consumer behavior. The multi-carrier modulation (MCM) method uses parallel equal bandwidth subchannels for data transmission and is implemented with fast fourier transform (FFT) techniques. This majorly improves performance in an inter-symbol-interference environment and reduces single-frequency interferers. The changes in the generation of communication technologies are defined by modification in modulation technologies.