Increased Adoption of VSAT Technology in the Oil and Gas Industry Drive the Demand for Very Small Aperture Terminal (VSAT) Market

Due to numerous digital advances, the oil and gas industry is undergoing a significant transition. There are many requirements, including maintaining operational expenses while maintaining safety, and security, searching for oil in new locations and boosting visibility between the rig and headquarters. Therefore, there is ongoing pressure on rig operators to take decisions more quickly and manage operations more effectively. Additionally, land-based communications are neither viable nor dependable where the oil and gas industry operates in remote onshore and offshore areas. As a result, several businesses have begun deploying VSAT technology to enable rig operators to take prompt and informed choices that will reduce operating costs and increase productivity. Therefore, the global very small aperture terminal (VSAT) market is estimated to increase rapidly in the near future.

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Data Bridge Market Research analyses that the very small aperture terminal (VSAT) market is expected to grow at a CAGR of 9.5% in the forecast period of 2022 to 2029 and is expected to reach USD 15,618,213.07 thousand by 2029.

Very Small Aperture Terminal (VSAT) Market

Growing demand for secure communication for maritime IoT applications is expected to drive the market's growth rate

The maritime industry has evolved to rely heavily on VSAT technology. Usually, they are utilized for two-way satellite communications for internet, data, and telephone. The maritime IoT ecosphere has gradually changed over the past few years. This ecosystem is supported by a variety of common electronic components, which combine hardware and software. Gaining a competitive edge through IoT devices and sensor systems across fleets of ships is possible. By enabling such technologies, businesses can fully utilize data for better operations and decision-making. This will boost the market's growth.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2014 - 2019)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

Solution (Equipment, Support Services, Connectivity Services), Platform (Land VSAT, Maritime VSAT, Airborne VSAT), Frequency (Ku-Band, C-Band, Ka-Band, X-Band), Network Architecture (Star Topology, Mesh Topology, Hybrid Topology, Point-To-Point Links), Design (Rugged VSAT and Non-Rugged VSAT), Vertical (Telecommunication, Maritime, Aviation, Government and Defense, Media and Entertainment, Transportation and Logistics, Energy and Power, Mining and Construction, Manufacturing, BFSI, Retail, Automotive, Transportation and Logistics, Healthcare, Education, Agriculture and Forestry and Others), End Use (Broadband/Data Network, Voice Communication, Private Network Service, Broadcast and Others)

Countries Covered

U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

Market Players Covered

Singtel (Singapore), Vizocom Company (U.A.E), X2nSat (U.S.), C-Com Satellite Systems Inc. (Canada), Marlink (U.S.), Thuraya Telecommunications Company (U.A.E), Speedcast (U.S.),  NSSLGlobal (U.K.),  ST Engineering (Singapore), Atos SE (France), Iridium Communications Inc. (U.S.), EchoStar Corporation (U.S.), Orbit Communications Systems Ltd. (Israel), Ultra (U.S.), Nisshinbo Holdings Inc. (Japan), General Dynamics Corporation (U.S.), Honeywell International Inc. (U.S.), Cobham Satcom (U.S.), Thales (France), GILAT SATELLITE NETWORKS (Israel)

Data Points Covered in the Report

In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Segment Analysis:

The global very small aperture terminal (VSAT) market is segmented into seven categories based on solution, platform, network architecture, frequency, design, vertical, and end use

  • Based on solution, the global very small aperture terminal (VSAT) market is segmented into equipment, support services, and connectivity services.

In 2022, the equipment segment is expected to dominate the global very small aperture terminal (VSAT) market

The equipment segment is expected to dominate the global very small aperture terminal (VSAT) market with a 41.56% market share due to increasing demand for autonomous and connected vehicles.

  • Based on design, the global very small aperture terminal (VSAT) market is segmented into rugged VSAT and non-rugged VSAT.

In 2022, the rugged VSAT segment is expected to dominate the global very small aperture terminal (VSAT) market

The rugged VSAT segment is expected to dominate the global very small aperture terminal (VSAT) market with 81.74% market share due to growing demand in high-risk environments corresponding to sectors like defence and maritime.

  • Based on platform, the global very small aperture terminal (VSAT) market is segmented into land VSAT, maritime VSAT, and airborne VSAT. In 2022, the land VSAT segment is expected to dominate the global very small aperture terminal (VSAT) market with a 45.33% market share due to the increasing use of VSAT systems on land-based platforms for effective connectivity.
  • Based on network architecture, the global very small aperture terminal (VSAT) market is segmented into star topology, mesh topology, hybrid topology, and point-to-point links. In 2022, the star topology segment is expected to dominate the global very small aperture terminal (VSAT) market with 49.51% market share due to its high tolerance capabilities and data reliability.
  • Based on frequency, the global very small aperture terminal (VSAT) market is segmented into Ku-band, C-band, Ka-band, and X-band. In 2022, the Ku-band segment is expected to dominate the global very small aperture terminal (VSAT) market with 39.28% market share due to increased demand for efficient broadband connectivity.
  • Based on end use, the global very small aperture terminal (VSAT) market is segmented into broadband/data networks, voice communications, private network services, broadcast, and others. In 2022, the broadband/data networks segment is expected to dominate the global very small aperture terminal (VSAT) market with 34.42% market share due to increased adoption of VSAT amongst enterprises for data connectivity.
  • Based on vertical, the global very small aperture terminal (VSAT) market is segmented into telecommunication, maritime, aviation, government and defense, media and entertainment, transportation and logistics, energy and power, mining and construction, manufacturing, BFSI, retail, automotive, healthcare, education, agriculture and forestry, and others. In 2022, the telecommunication segment is expected to dominate the global very small aperture terminal (VSAT) market with a 20.34% market share due to USATs enable broadband connectivity in unmanned aircraft systems (UAS) and marine ships.

Major Players

Data Bridge Market Research recognizes the following companies as the major very small aperture terminal (VSAT) market players in very small aperture terminal (VSAT) market are Singtel (Singapore), Vizocom Company (U.A.E), X2nSat (U.S.), C-Com Satellite Systems Inc. (Canada), Marlink (U.S.), Thuraya Telecommunications Company (U.A.E), Speedcast (U.S.), NSSLGlobal (U.K.), ST Engineering (Singapore)

Market Development

Very Small Aperture Terminal (VSAT) Market

  • In June 2022, Cobham Satcom entered into a partnership with Mangata Networks. This alliance's main goal was strengthening ground infrastructure and satellite tracking systems. Cobham Satcom consented to the global deployment of several Cobham Satcom 4.0M TRACKER gateway antennas as part of this agreement. Both businesses improved their consumer base and grew their market share
  • In December 2021, Orbit Communications Systems Ltd. Acquired Euclid Systems Engineering, a company that specialized in the development of smart, lightweight positioners and tracking systems for the defence industries. With the aid of Euclid Systems Engineering, the goal of this acquisition was to improve the company's maritime and airborne SATCOM capabilities. The company will be able to grow its product line and market globally
  • In April 2022, Marlink announced that it has exceeded providing more than 500 Satcom and CIS orders in partnership with Airbus to the EU SatCom Market (ESM) as a framework contract
  • In May 2022, ST Engineering partnered with NiAT to deliver critical VSAT connectivity and to meet this insatiable demand for internet access utilizing the ST Engineering iDirect Evolution platform

Regional Analysis

Geographically, the countries covered in the very small aperture terminal (VSAT) market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

As per Data Bridge Market Research analysis:

North America is the dominant region in very small aperture terminal (VSAT) market during the forecast period 2022 - 2029

In 2021, North America dominated the very small aperture terminal (VSAT) market due to rapid adoption of satellite communication technology and increased research and development activities for reducing antenna size.

Asia-Pacific is estimated to be the fastest growing region in very small aperture terminal (VSAT) market the forecast period 2022 - 2029

Asia-Pacific is expected to grow during the forecast period due to owing to growing demand for secure communication for maritime and airborne IoT applications.

COVID-19 Impact Analysis

The small aperture terminal (VSAT) market was negatively impacted during the lockdown and factory closures brought by COVID-19. The COVID-19 epidemic had a negative effect to some extent on the very small aperture terminal (VSAT) business. However, there has been a significant increase in demand for global maritime distress safety systems after the pandemic. Additionally, the industry had rapidly expanded since the market opened following COVID-19. It is anticipated that this trend will continue due to the growing use of satellite-based communication in the military and defense industries.

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