The communication industry has grown significantly due to the demand for increased connectivity developments in the past years to cater to the rising market demand for satellite communication. Technological developments in satellite components, miniaturization of parts, reducing launch costs, and increasing demand for stable connectivity in remote locations are the primary factors that support market opportunities.

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Communication technology plays a vital role in almost all industries for running their businesses over a large distance across the globe. Communication is the most prominent application, which is responsible for providing internet connectivity to support the transmission of data. There are various modes of transmitting the data from one location to another that include fiber cables, copper wires, and radiofrequency communication. However, there are certain constraints of every technology that boosts the need for a fast, secure, flexible, and low-cost communication technology. Space-based laser communication is one of the latest communication technologies that utilize unguided visible, ultraviolet (UV), or infrared (IR) light for transmitting the signals.

Space-based laser communication is extremely suitable for performing data transfer in locations that are not suitable for remote locations. Moreover, the technology also provides inter-satellite communications, satellite to ground communication, and other applications. The growing number of satellites is one of the most prominent factors for the development of space-based laser communication in satellite communication applications. For instance, in January 2021, Space X launched ten satellites under its first rideshare mission named Transporter-1 to the polar orbit for demonstrating space to space laser communication system at an altitude of 560 kms and inclination of 97.6*degree.

Commercial companies such as SpaceX, ICEYE, Spire, Kepler Communication, Satellogic have been launching small satellites. Also, these companies aim to adopt space-based laser communication between satellite-to-satellite and satellite-to-ground stations for reliable, secure, and high-speed wireless communication. For instance, SpaceX, in January 2021, launched ten satellites with inter-satellites into polar orbit. The satellites were launched using a Falcon 9 rocket. As part of the Starlink project, the company plans to launch all satellites with inter-satellite links next year. This is expected to enhance the global space-based laser communication market during the forecast period.

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The global space-based laser communication market has witnessed numerous such technological developments and strategies in the past few years by the companies to attain significant market shares in this well-established market. Some of the strategies discussed in this segment include product launches, acquisitions, contracts, and business expansions. The preferred strategy for the companies has been attaining contracts from space agencies and other key players.