Global Maritime Satellite Communication Market, By Type (Very Small Aperture Terminal (VSAT), Ka-Band, Ku-Band, C-Band, Mobile Satellite Services (MSS)), Service (Voice, Video, Data, Tracking & Monitoring), End-User (Merchant Shipping, Fishing, Passenger Ship, Leisure Vessels, Offshore, Government, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
The maritime satellite communication market will reach at an estimated value of USD 5.14 billion by 2028 and grow at a CAGR of 6.90% in the forecast period of 2021 to 2028. Rise in the need for reliable and cost-effective communication services at sea acts as an essential factor driving the maritime satellite communication market.
Satellite communication technologies help in tracking ships and cargo around the world. Earlier, satellite networks were used as a means of communication between ship-shore and/or with other marine vessels. These days, this form of communication has morphed from voice calling into additional user-oriented services such as monitoring, tracking, and entertainment services. Present day devices offer users an extensive range of applications such as disaster management, weather forecasting, DTH broadcasting, voice calls, and navigation among others.
Rise in the new satellite systems and data-intensive applications is a crucial factor accelerating the market growth, also and rise in the rate of adoption and deployment of low cost cloud solutions, are the major factors among others boosting the maritime satellite communication market. Moreover, increase in the demand for broadband connections and VSAT connectivity and rise in the unification of satellites and cellular communication technology will further create new opportunities for maritime satellite communication market in the forecast period mentioned above.
However, lack of awareness about advanced maritime satellite services and reliance on high-cost satellite equipment are the major factors among others restraining the market growth, while rise in the cybersecurity attacks, lack of reliability and flexibility of satellite communication and coping up with rapidly changing technologies will further challenge the maritime satellite communication market in the forecast period mentioned above.
This maritime satellite communication market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the maritime satellite communication market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Maritime Satellite Communication Market Scope and Market Size
The maritime satellite communication market is segmented on the basis of type, service and end-user. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, the maritime satellite communication market is segmented into very small aperture terminal (VSAT), Ka-band, Ku-band, C-band and mobile satellite services (MSS).
- Based on service, the maritime satellite communication market is segmented into voice, video, data and tracking & monitoring.
- The maritime satellite communication market is also segmented on the basis of end-user into merchant shipping, fishing, passenger ship, leisure vessels, offshore, government and others.
Maritime Satellite Communication Market Scope Country Level Analysis
The maritime satellite communication market is analysed and market size, volume information is provided by country, type, service and end-user as referenced above.
The countries covered in the maritime satellite communication market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Asia-Pacific dominates the maritime satellite communication market due to increase in the adoption of VSAT technologies in the merchant and cruise ships, rise in political tensions and border disputes in the countries, such as India and China and rise in the technology advancements and less expensive technology solutions in this region. Europe is the expected region in terms of growth in maritime satellite communication market due to rise in the popularity of marine tourism, rise in the technology advancements and less expensive technology solutions and rise in the growth in bandwidth requirements and communication needs in this region.
The country section of the maritime satellite communication market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Maritime Satellite Communication Market Share Analysis
The maritime satellite communication market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to maritime satellite communication market.
The major players covered in maritime satellite communication market report are Inmarsat Global Limited, Iridium Communications Inc, Thuraya Telecommunications Company, Hughes Network Systems, LLC, MTN Group Management Services (Pty) Ltd, Leonardo S.p.A, Viasat, Inc, ORBCOMM, KVH Industries, Inc, ST Engineering, EchoStar Corporation, Kongsberg Maritime, Saab AB, Rohde & Schwarz, RASCOM Company and Globecomm Systems Inc among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.