Space-based Laser Communication Market to Grow at a CAGR of 26.98% Between 2021-2031

FREMONT, Calif. - Nov. 28, 2021 - PRLog -- Space-based laser communication transmits signals through light propagation within the line of sight, which is highly secure and fast. This is one of the major factors that drive the growth of the global space-based laser communication market. Moreover, the growing need for higher flexibility in data transmission at low cost impacts the demand for laser communication systems. Space-based laser communication systems allow the transmission of data in both directions. Additionally, the safety of the living creatures is another factor that supports the market for space-based laser communication.

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The space-based laser communication companies have witnessed the demand from the growing commercial industry. Space-based laser communication finds opportunity in applications such as communication and earth observation that incur a lot of time and money. The market is mature in countries such as the U.S., China, and Japan, and is gaining popularity in countries such as India, Russia, the U.K., France, and Germany.

North America accounted for the highest share of 75.32% in the market in 2020, owing to a significant number of companies based in the region. Europe held a share of 17.05% in 2020 and is expected to witness the highest growth during the forecast period 2021-2031, driven by space activities in the U.K., Russia, Germany, and France. Increased spending by government space organizations, such as the Japan Aerospace Exploration Agency (JAXA), China Academy of Launch Vehicle Technology (CALT), National Aeronautics and Space Administration (NASA), European Space Agency (ESA), and Indian Space Research Organization (ISRO), in different space applications, is expected to drive huge growth in the global space-based laser communication market during the forecast period.

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Some of the key players in the global space-based laser communication market include Tesat Spacecom, BridgeComm, SpaceX, General Atomics, Hensoldt, Space Micro, and Thales Alenia Space. These companies are aiming for a wide range of partnerships, collaborations, agreements, and contracts to expand their operations and increase their market presence globally to generate revenues and attract new customers.