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.
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The report is also inclusive of the financial scenario of the leading companies such as profit margins, revenue contribution, growth rate, sales volume, manufacturing and production costs, and other key statistics. The report offers a thorough analysis of the financial standing, global position, product portfolio and business expansion plans. The report also provides SWOT analysis and Porter’s Five Forces analysis for each market player.
Further key findings from the report suggest
- 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.
- 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
- 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.
- 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.
- On the basis region, the market is being segmented to Europe, APAC, North America, and Row. The high adoption of the maritime satellite is being seen in the region of Europe due to the increased implementation. The growth factors being the affordable solutions and need for more enhanced maritime communication.
- The Key players in the Maritime satellite communication market include Inmarsat communications (London), Iridium Communications (US), Thuraya Telecommunications Company (UAE), Hughes Network System LLC. (USA), KVH Industries (US), VIASAT (US), Harris Caprock (Singapore), Royal Imetech N.V. (Netherlands) and Globecomm Systems(US).
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The report focuses on evaluation of the given market in major regions and the countries included in those regions. The report provides details of the market considering the geographical landscape that includes North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa.The report covers assessment of revenue estimations and shares, current market value, future market valuation, market share, revenue growth and market size in each region. It studies production and consumption patterns, import/export, supply and demand ratio, consumer behavior shift, current and emerging trends, and initiatives taken by the key players in each major region.
- North America (U.S.A., Canada)
- Europe (U.K., Italy, Germany, France, Rest of Europe)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Service type (Revenue, USD Million; 2016–2026)
- Tracing & Monitoring
Product (Revenue, USD Million; 2016–2026)
- Very small aperture satellite (VSS)
- Mobile satellite services (MSS)
Application (Revenue, USD Million; 2016–2026)
- Merchant shipping
- Passenger shipping
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Key Features of the Maritime Satellite Communication Market Report:
- A comprehensive 8 year forecast of the market and its expected growth rate and trends
- Analysis of key market drivers and restraining factors
- Comprehensive analysis of the key regions of the industry and provides SWOT analysis and Porter’s Five Forces analysis to impart a deeper understanding of the market
- Helps in formulating strategic business decisions and investments plans
- Strategic recommendations to the established companies and new entrants
- Statistical data organized into tables, charts, graphs, diagrams, and info graphics
- Includes complete coverage of recent R&D advancements, product launches, and mergers and acquisitions, among others
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