The airborne SATCOM market in South America is expected to grow from US$ 537.20 million in 2022 to US$ 688.56 million by 2028; it is estimated to grow at a CAGR of 4.2% from 2022 to 2028.
The region is currently facing economic and political instability, which is hampering its economic growth. Despite such uncertainty, the growing middle-class population in the region supports the progress of the aviation industry in the region. Copa Airlines, Avianca, Aeromexico, and Azul LATAM Airlines are a few of the prominent airlines operating in South America. In terms of military expenditure, Brazil is the largest spender in this region. A significant amount of the budget is allotted to the new aircraft and communication solution, thus promoting the growth of the airborne SATCOM market in South America.
Additionally, In February 2022, Embraer SA announced a deal with the Brazilian Air Force to cut its order from 28 military cargo planes to 22 aircraft and to add compensation clauses to the contract between both parties. Despite several challenges, the defense industry is expected to support the growth of the airborne SATCOM market in South American countries. Brazil recorded the defense spending of US$ 19.73 billion in 2020. The country is followed by Colombia, Chile, and Argentina with the spending of US$ 9.21 billion, US$ 4.60 billion, and US$ 2.90 billion, respectively. A significant amount of the defense budget is allotted to the new aircraft and communication solutions, thus promoting the growth of the airborne SATCOM market in South America. Moreover, the demand for commercial aircraft is a major factor aiding the growth of the airborne SATCOM market in the region.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the South America airborne SATCOM market. The South America airborne SATCOM market is expected to grow at a good CAGR during the forecast period.
South America Airborne SATCOM Market Revenue and Forecast to 2028 (US$ Million)
South America Airborne SATCOM Market Segmentation
South America airborne SATCOM market is segmented into platform, component, application, and country.
In terms of application, the South America airborne SATCOM market is categorized into defense, and commercial. The commercial segment held the largest market share in 2022.
Collins Aerospace; General Dynamics Mission Systems, Inc.; Honeywell International Inc.; Orbit Communications Systems Ltd.; Thales Group; and Viasat, Inc. are among the leading companies in the airborne SATCOM market in the region.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 537.20 Million |
| Market Size by 2028 | US$ 688.56 Million |
| CAGR (2022 - 2028) | 4.2% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Platform
|
|
Regions and Countries Covered
|
|
| South and Central America | Brazil, Argentina, Rest of South and Central America |
| Market leaders and key company profiles |
|
The South America Airborne SATCOM Market is valued at US$ 537.20 Million in 2022, it is projected to reach US$ 688.56 Million by 2028.
As per our report South America Airborne SATCOM Market, the market size is valued at US$ 537.20 Million in 2022, projecting it to reach US$ 688.56 Million by 2028. This translates to a CAGR of approximately 4.2% during the forecast period.
The South America Airborne SATCOM Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the South America Airborne SATCOM Market report:
The South America Airborne SATCOM Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South America Airborne SATCOM Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South America Airborne SATCOM Market value chain can benefit from the information contained in a comprehensive market report.
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