Research and Markets, in its latest report titled Satellite Antenna – Global Market Trajectory & Analytics, says that the global market for professional Satellite Antennas estimated at $2.3 billion (€1.9bn) in the year 2020, is projected to reach a revised size of $3.6 billion by 2027, growing at a CAGR (Compound Annual Growth Rate) of 6.6 per cent over the analysis period 2020-2027.
“Reflectors, one of the segments analysed in the report, is projected to record a 7.7 per cent CAGR and reach $1.3 billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Feed Horns segment is readjusted to a revised 6.8 per cent CAGR for the next 7-year period,” says the report.
The Satellite Antenna market in the US is estimated at being worth $684 million in the year 2020.
“China, the world’s second largest economy, is forecast to reach a projected market size of $629.6 million by the year 2027 trailing a CAGR of 6.1 per cent over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.3 per cent and 5.1 per cent respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 5.2 per cent CAGR,” says Research and Markets.