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.
Browse full research report on Maritime Satellite
Communication Market: https://www.grandviewresearch.com/industry-analysis/maritime-satellite-communication-market
Further key findings from the report suggest:
- 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.
Browse
request sample of this report by Grand View Research: https://www.grandviewresearch.com/industry-analysis/maritime-satellite-communication-market/request/rs1
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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