The report also said the market was worth $3.07bn and will exhibit a CAGR of 18.99% during the forecast period, 2020-2027.
The research confirms the telecommunications services market is among the most resilient sectors of the global economy in the Covid-19 era.
Frequent launching of communications satellites by public and private space agencies is expected to propel the market growth.
The average monthly fee of postpaid 5G cellular bundles with 100 GB data allowance reached around $124.8.
Industry experts believe that Covid-19 could affect small satellite production and services by 10% globally in 2020.
From 2020 to 2029, the smallsat market value is projected to reach $51bn, of which $33bn for manufacturing and $18bn for launch.
The report suggests that satellite launches will generate a cumulative opportunity of $131.2bn in launch revenues alone.
Online searches for ‘space’, ‘Emirati astronaut’, and ‘NASA’ have seen substantial increases over the past year.
Following the Covid-19 dip of 2020, the HAPs market will remain in recovery before accelerated growth towards the end of the decade.
Study shows satellite TV reception increases by 23% in Nigeria and 19% in Ghana in 2019 since the last study, conducted two years ago.
Commercial interest pushes satellite orders to new heights in government-driven market.
NSR predicts $11bn in cloud-based revenue over the next decade, with Satcom markets leading the way.