Lucintel's latest market report analyzed that 5G NTN provides attractive opportunities in the maritime, aerospace and defense, government, and mining sectors. The 5G NTN market is expected to reach $XX billion by 2028 with a CAGR of 38% to 40%. In this market, solutions is the largest segment by component, whereas aerospace and defense is largest by end use industry.

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Based on component, the 5G NTN market is segmented into hardware, solutions, and services. The solutions segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to the increasing use of 5G NTN for faster connectivity at a reasonable range and growing demands for 5G NTN among businesses due to its capacity to provide multi-layer communication in order to satisfy their specific requirements.

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The 5G NTN Market is marked by the presence of several big and small players. Some of the prominent players offering 5G NTN include Qualcomm, Gilat Satellite Network, SoftBank, Thales, and Thales Alena Space.

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