2021-26 global satellite cable and components market compound annual growth of 21.7%

According to a report released by Markets and Markets, an international market research organization, the global satellite cable and components market will reach US$560 million by 2026, with a compound annual growth rate of 21.7%.

Cables are used for satellites, which are increasingly used in modern communication technology, miniaturization, deep space exploration. The introduction of wireless satellite internet and the development of tiny hardware systems are taking advantage of the vast opportunities in satellite communications.

Satellite cable and component systems have great potential for satellite data service providers, small satellite service providers, remote sensing service providers, technology service providers and investors. Factors such as versatility, low cost, advanced materials, ease of fabrication and assembly, mass production, and short life cycle drive investments in the satellite cable and components market.

At the same time, the United States, China, India and other countries and governments continue to increase investment in satellite systems, which will also promote the growth of demand in the satellite cable and component market.

Based on satellite type, the large satellite segment is expected to lead the satellite cables and components market from 2021 to 2026. Satellites weighing more than 1,000 kilograms are called large satellites. Government space agencies dominate the bulk of the large satellite market.

Regionally, North America is expected to lead the satellite cables and components market over the forecast period. The United States is a lucrative market for satellite cable and component systems in North America. The U.S. government is increasingly investing in advanced satellite technology to improve the quality and efficiency of satellite communications. Increasing investment in satellite equipment to enhance defense and surveillance capabilities of the armed forces, modernization of existing communications on military platforms, critical infrastructure, and law enforcement agencies using satellite systems are the key factors expected to drive the North American satellite cables and components market.