Increasing Number of Strategic Alliances to Provide Growth Opportunities for Satellite Optical Ground Station Market During 2023–2028
According to our latest market study on "Satellite Optical Ground Station Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Operation, Equipment, Application, and End User," the market is expected to grow from US$ 62,013.92 million in 2023 to US$ 113,299.14 million by 2028; it is estimated to register a CAGR of 8.4% from 2023 to 2028.
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The growing demand for satellite optical ground stations encourages companies to develop advanced solutions for the expansion of the space industry. For this expansion, the governments of different countries and stakeholders across industry verticals are continuously investing in R&D, propelling the growth of the satellite optical ground station market. They prefer various strategic alliances, such as partnerships, collaborations, and contracts, a few of which are mentioned below:
Thus, through contracts and partnerships, various companies are working on providing advanced optical ground stations, which are anticipated to offer potential growth opportunities for the satellite optical ground station market during the forecast period.
The rise in the number of satellite launches and new ground stations is one of the major factors supporting the growth of satellite optical ground station market across the US. Moreover, the upgrade in the existing satellite ground station network infrastructure, including military satellite ground stations across the country, is another major factor supporting the growth of satellite optical ground station market across the region.
Such developments are catalyzing the growth in the adoption of satellite ground station technologies across the country, driving the satellite optical ground station market growth.
Raytheon Technologies Corporation, General Dynamics Corporation, Lockheed Martin Corporation, and Konsberg Gruppen are among the key satellite optical ground station market players profiled during the study on the market. Several other major satellite optical ground station market players were studied and analyzed during this market research study to get a holistic view of the market and its ecosystem. The satellite optical ground station market report provides detailed market insights, which helps the key players strategize their growth.
The US was the most affected country in North America due to the COVID-19 pandemic. Strict regulations imposed by the US government in Q2 of 2020 led to a temporary halt in all manufacturing activities. Also, there was a temporary suspension of all production activities in the space industry, which negatively affected the growth of the satellite optical ground station market during the pandemic. However, as soon as the lockdown restriction was lifted and the manufacturing activities restarted, the market started to recover. Various market players and space agencies in North America started incorporating laser communication technology for data transfer. In October 2021, NASA announced that its two optical ground stations, OSG 1 and 2, located on Table Mountain (California) and Haleakal? (Hawaii) will support its laser communications relay demonstration mission. Thus, through laser communications, the agency will be able to communicate data from space to the ground station. Hence, the increasing demand for laser communication by the space industry in North America will further propel satellite optical ground station market growth during the forecast period.
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