Maritime Satellite Communication Market Size, Share and Major Industry Players

Posted by Swati on February 2nd, 2021

The Maritime satellite Communication market is expected to grow from USD 3.20 billion in 2018 to USD 8.30 billion by 2026, at a CAGR of 11% during the forecast period. The driving factor for growth being the enhanced need in the growth of improved communication.

Due to the increase in need of trusted and cost-effective communication services, maritime satellite market is growing at a huge rate. MSS is mostly used in marine communication and to increase the fast and smooth sailing of ships and marine transportation. Various seaborne threats like piracy, maritime terrorism, gun-running are increasing rapidly. Security need is also increasing which is responsible for the growing market. Since maritime is connected with the nation's economy, its security is also important.

Players will require increased investments to tackle these challenges and facilitate growth in the coming years. This report comprises drivers, restraints, opportunities, and challenges pertaining to the Maritime satellite market; and extensive value chain analysis, patent analysis, analysis of the current manufacturing capability and technology status, commercialization potential in different devices, along with market size forecasts till 2026.

Companies considered and profiled in this market study.

The Key players in the Maritime satellite Communication market include Harris Caprock (Singapore), Iridium Communications (US), Thuraya Telecommunications Company (UAE), Hughes Network System LLC. (USA), Inmarsat communications (London), KVH Industries (US), VIASAT (US), , Royal Imetech N.V. (Netherlands) and Globecomm Systems(US).

For this report, the market has been divided into segments on the basis of service type, product, Application, and region:

Service type (Revenue, USD Million; 2016–2026)

Voice

Video

Data

Tracing & Monitoring

Product (Revenue, USD Million; 2016–2026)

Very small aperture satellite (VSS)

Mobile satellite services (MSS)

Go through our meticulously drafted TOC, Tables, Statistics, Charts, and Company profiles: - https://www.reportsanddata.com/report-detail/maritime-satellite-communication-market

Application (Revenue, USD Million; 2016–2026)

Merchant shipping

Offshore

Government

Passenger shipping

Shipping

Regional Outlook (Revenue, USD Million; 2016–2026)

North America

Europe

Asia Pacific

Rest of the World

Further key findings from the report suggest

1. The Maritime satellite Communication market is expected to grow from USD 3.20 billion in 2018 to USD 8.30 billion by 2026, at a CAGR of 11% during the forecast period. The driving factor for growth being the enhanced need in the growth of improved communication.
   
2. On the basis product, the market is segmented as very small aperture (VSS) and Mobile satellite services (MSS). The VSAT is introduced in many markets. Because of the increasing implementation of the Ku-Band, it is expected to bring the highest growth. The market is expected to take a major move from the MSS to VSAT specifically using the C-BAND, KA-BAND, and KU_BAND, this is mainly due to the various advantage of the VSAT that is being provided to the marine user's one being the cost-effective uses of technologies
   
3. On the grounds of service type, the market is segmented as video, voice, data, tracking, and monitoring. The most common mode for communication in the maritime satellite market is done through data as it is being considered as the most affordable mode of communication in the maritime market. Penetration of video conferencing and other entertainment application, the video communication sector will see the highest growth of 11.1 % in the forecasted year.
   
4. On the basis application, the market is segmented as merchant shipping, offshore, government, passenger ship, and fishing. The enhanced growth in the need for advanced communication among travelers along with the need for speed transformation of data, the market for maritime communication is growing at a rapid rate. The passenger ship type of application is believed to be responsible for the huge implementation of low-cost technologies.