The global maritime satellite communication market size is expected to reach at USD 4.74 billion by 2025, registering a CAGR of 8.9% over the forecast period, according to a new report published by Grand View Research, Inc. The rising need for reliable and cost-effective maritime communication services at sea is driving the market growth.Rising adoption of satellite communication for additional user-oriented services, such as entertainment, tracking and monitoring services is also expected to fuel revenue growth in the forthcoming years.
Maritime
satellite communication is a crucial part of naval, commercial, leisure and oil
rig and support vessels. Its services include voice calling, weather and
oceanographic data access for navigation and fishing, data services for email
and internet access as well as for tracking the location of the marine vessel.
Timely
delivery has become a dynamic factor for the shipping industry. The industry is
striving to achieve it by making high investments in R&D activities. The
shipping industry uses satellite vessel tracking service to keep the shore-side
operations informed about the location and to achieve timely delivery. Maritime
communication services also provide distress warning whenever necessary, which
is also one of the most influential factors driving the adoption of maritime
satellite communication.
Technological
innovation such as reduction in dish size and cost of data usage is expected to
drive demand for installation of new VSAT services in place of MSS services.
The adoption of VSAT with KU and KA band frequencies, will also provide immense
growth opportunity for the market. Also, huge investments which are made by key
manufacturers of maritime communication equipment, to introduce new
comparatively cheaper satellite communication equipment is expected to boost
the market. However, the high cost of equipment and satellite communication
services may hinder the growth.
Full Research Report On Maritime Satellite Communication Market Visit Here:
https://www.grandviewresearch.com/industry-analysis/maritime-satellite-communication-market
Maritime Satellite
Communication Market Report Highlights
- Naval vessel in end use
segment is anticipated to register a high CAGR over the forecast period
ascribing to modernization of legacy systems such as close in air defense
systems, radar, and communication systems in the naval fleet
- VSAT sub-segment the type
segment is expected to witness higher growth than MSS owing to high data
speeds, global coverage, and efficient maritime satellite communication
- Asia Pacific is anticipated
to witness high CAGR over the forecast period owing to increasing adoption
of VSAT technologies in the merchant and cruise ships in the region
- The maritime satellite
communication market is oligopolistic and is dominated by companies such
as, Inmarsat Global Limited; Iridium Communications Inc.; Leonardo S.p.A.;
Thuraya Telecommunications Company; ViaSat Inc.; Orbcomm Inc.; KVH
Industries, Inc.; Singapore Technologies Engineering Ltd; and EchoStar
Corporation.
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https://www.grandviewresearch.com/industry-analysis/maritime-satellite-communication-market/request/rs1
Maritime Satellite
Communication Market Segmentation
Grand View Research has segmented
the global maritime satellite communication market on the basis of product
type,revenue source, end use, and region:
Maritime Satellite
Communication Type Outlook (Revenue, USD Billion, 2014 - 2025)
- Very Small Aperture Terminal
(VSAT)
- Ka-Band
- C-Band
- Others
- Mobile Satellite Services
(MSS)
Maritime Satellite
Communication Revenue Source Outlook (Revenue, USD Billion, 2014 - 2025)
- Hardware
- Software
- Services
Maritime Satellite
Communication End Use Outlook (Revenue, USD Billion, 2014 - 2025)
- Naval Vessel
- Commercial Vessels
- Leisure Vessels
- Offshore Oil Rigs
Maritime Satellite
Communication Regional Outlook (Revenue, USD Billion, 2014 - 2025)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Mexico
- Middle East & Africa
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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