Have you noticed that human understanding of any knowledge is now gained? Of course, the internet is to blame for everything. Yes, a universal feature of modern life is the internet. A group of computers connected via satellite links makes up the internet. It connects millions of computers worldwide.
Also, the amount of time spent online at home is growing day to day. For this reason, we constantly require access to a dependable Internet connection. One kind of Internet connection is satellite internet. Well, in this blog, let’s understand what satellite internet is, satellite internet market insights, and prominent players operating in the industry.
What is Satellite Internet?
Satellite Internet is a kind of broadband that sends Internet signals from your satellite Internet providers to your device via an orbiting satellite. Just like any other type of Internet, it enables you to connect your preferred gadgets to the Internet.
Satellite Internet has advanced recently due to technological advancements, even if it’s not the fastest alternative. This form of broadband connection is now a feasible alternative for delivering Internet in many more regions than before. Although it’s not as quick as other forms of the Internet, it’s still a good choice for people living in remote locations without access to other forms of infrastructure.
The global satellite internet market was valued at USD 5.53 billion in 2022 and is expected to grow to USD 29.59 billion at a CAGR of 18.3% during the forecast period of 2032.
Market’s Top 5 Leading Players
Here are the top 5 major satellite internet market players operating in the industry:
#1 Boeing Company
William Boeing established Boeing on July 15, 1916, in Seattle, Washington. This global company based in the United States designs, develops, and markets aircraft, helicopters, rockets, satellites, telecommunications gear, and missiles all over the world. Boeing is one of the biggest aerospace companies in the world. According to 2020 revenue, it ranked third globally for defense contracting and is the top exporter in the US in terms of dollars.
#2 EchoStar Corporation
Through its business divisions for Hughes Network Systems and EchoStar Satellite Services, the American corporation EchoStar Corporation offers Internet and satellite communication services to customers all over the world. EchoStar’s headquarters are in Colorado’s unincorporated Arapahoe County. Charles Ergen, the company’s chairman, founded EchoStar in 1980 with the goal of distributing C-band TV sets.
#3 Globalstar, Inc.
An American satellite communications firm called Globalstar initiated the project in 1991 as a joint venture between Loral Corporation and Qualcomm. Being one of the best satellite internet market players, the company runs a constellation of low-Earth orbit (LEO) satellites for low-speed data and satellite phone services.
#4 Hughes Network Systems, LLC
John Puente, Dr. Burton Edelson, and seven other engineers, who had previously collaborated at Comsat Laboratories, led a group of lawyers and engineers that created Hughes Communications in 1971 under the name Digital Communication Corporation (DCC). It offers satellite internet service and has its headquarters in Germantown, Maryland. In the Americas, HughesNet has over 1.4 million subscribers.
#5 Iridium Communications Inc.
Originally called as Iridium SSC, the Iridium communications service was introduced on November 1, 1998. The corporation is based in McLean, Virginia, and is publicly traded in the United States. Nine of the 75 satellites in the Iridium constellation serve as in-orbit spares, while the remaining 66 are operational spacecraft. Iridium is the company that manages this network.
The industry’s leading service providers are always updating their technology to maintain an edge over rivals and to guarantee effectiveness, reliability, and security. To get a competitive advantage over their rivals and take a sizeable portion of the satellite internet market, these players concentrate on collaboration, product advancements, and partnerships.