Space-based Laser Communication Market 2031 by Application | BIS Research

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Currently, many space agencies and commercial companies across the globe have been focusing on the Moon and deep space explorations. For deep-space exploration, which includes a lunar gateway, space weather missions, an orbiter around Mars, a faster, more secured type of communication is required. For instance, in January 2021, TNO and the European Space Agency (ESA) signed a two-year contract to investigate the usage of optical communication technology to enable swift and efficient communication for deep-space missions. This would likely penetrate the niche markets and generate significant revenues in the future.

Read Report Overview: Space-based Laser Communication Market

Space-based Laser Communication Industry Overview

The global space-based laser communication market is expected to reach $4,107.1 million by 2031, with a CAGR of 26.98% during the forecast period 2021- 2031. The increasing number of satellite constellations for applications such as communication, technology development, Earth observation and remote sensing, and research and space exploration are expected to be the major driving factors for the market. In addition, the growing need for secure and high-speed wireless communication and increasing demand for higher flexibility at low cost are some of the key drivers for the growth of the global space-based laser communication market.

Space-based Laser Communication Market by Application

The space-based laser communication market has been segmented based on application including technology development, earth observation and remote sensing, communication, surveillance and security, research and exploration. The combat training application is expected to be the front runner in the global space-based laser communication market due to the rapid growth of small satellite constellation plans by various satellite operators such as SpaceX, Telesat, Space Development Agency, ICEYE, and Cloud Constellation.

Space-based Laser Communication Market by Region

The space-based laser communication market has been segmented based on region, including North America, Europe, Asia-Pacific, and Rest-of-the-World. North America is expected to account for the highest share of the global space-based laser communication market, owing to a significant number of companies based in the region, increased spending by government and commercial organizations such as the National Aeronautics and Space Administration (NASA), Space X, and Space Development Agency on the adoption of space-based laser terminals.

Key Market Players and Competition Synopsis

AAC Clyde Space (Hyperion Technologies), Analytical Space Operation, Ball Corporation, BridgeComm, General Atomics, HENSOLDT, Honeywell International, Laser Light Communication (Halo Network), Mynaric, ODYSSEUS SPACE SA, Rocket Lab USA, Inc, Space Exploration Technologies Corp. (SpaceX), Space Micro, Tesat Spacecom, Thales Group

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The companies that are profiled in the report have been selected post undergoing in-depth interviews with experts and understanding details around companies such as product portfolios, annual revenues, market penetration, research and development initiatives, and domestic and international presence in the space-based laser communication market. Accordingly, a structured approach has been followed, which includes segmenting the pool of players under three mutually exclusive and collectively exhaustive parts, holding a 100% pie of the market.