According to the research report titled ‘Global Satellite Services Market: Analysis By Service Type (Fixed, Mobile, EO, Consumer Services), End Users, By Region, By Country (2021 Edition): Market Insights and Forecast with Impact of COVID-19 (2021-2026),’ available with MarketStudyReport, global satellite services market was worth USD 131.25 billion in the year 2020 and is slated to rise dramatically during 2021-2026.

Rising use of emerging consumer service sectors in developing nations, rapid digitization, and soaring demand for highly efficient radio, internet, etc. are propelling the expansion of global satellite services industry.

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Besides this, satellite services are used extensively due to technological advancements and political & social utility, which is further accelerating the market progress.

Moreover, rising support from government for technical improvements, coupled with growing acceptance of these devices particularly in end-use industries to attain greater efficiency will increase the product uptake during the review period.

During the COVID-19 pandemic, the duration, extent, and effectiveness of containment actions taken had direct consequences on the supply & demand of services. Satellites have played a prominent role in safeguarding people through the outbreak and also in facilitating the remote working & home learning culture.

However, with the disruption in supply chain activities and delayed deployments, the market observed a decline in demand for services used occasionally, which affected the development of worldwide satellite services industry to some extent.

Concerning the regional front, America market is poised to record notable gains by the end of the assessment timeframe, attributed to major players in the country engaging in diversifying their satellite service portfolios to cater to the growing demand of the population. Additionally, affordable, timely, and efficient services have amplified the use in urban as well as rural areas which is contributing extensively to the regional market expansion.

The key companies amplifying the competitive scope of global satellite service market are ViaSat, Inc., SES S.A, Iridium, Inc., Intelsat S.A., Northrop Grumman Corporation, Lockheed Martin Corporation, Eutelsat S.A., EchoStar Corporation, The Boeing Company, and DISH Network Corporation among others.