The global Maritime Satellite Communication market was valued at USD 3.0 Billion in 2022 and it is anticipated to grow up to USD 13.4 Billion by 2032, at a CAGR of 16.1% during the forecast period.
New York, Global Maritime Satellite Communication Market report from Global Insight Services is the single authoritative source of intelligence on Maritime Satellite Communication Market . The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Maritime Satellite Communication (MSC) is a type of satellite communication that is used by ships and other vessels at sea. MSC allows these vessels to communicate with each other and with land-based systems, such as navigation aids, weather stations, and search and rescue services. MSC can also be used for voice and data communications, and for broadcasting.
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Market Trends and Drivers
The growing need for applications like voice communications in the industry like passenger ships, fishing, and marine shipping is expected to fuel the satellite communication industry’s expansion. Maritime satellite communication systems help in effective operations of these industries along with that it also enhances the security and surveillance system. The rising adaptation of advanced satellite systems and big data computing applications, along with the increasing awareness about the benefits of the cloud solution, are among the primary factors driving the market further. Moreover, an increase in the integration of satellite and mobile communication technologies is expected to create new opportunities for the market.
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Global Maritime Satellite Communication Market Segmental Overview
By Component
- Hardware
- Software
- Services
By Type
- Very Small Aperture Terminal (VSAT)
- Mobile Satellite Services (MSS)
By End-user
- Naval Vessel
- Commercial Vessels
- Leisure Vessels
- Offshore Oil Rigs
By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Spain
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of World
- Latin America
- Middle East
Major Players in the Global Maritime Satellite Communication Market
The maritime satellite communication market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. These major players, with a prominent market share, are focusing on expanding their customer base across foreign countries. These companies are leveraging strategic collaborative initiatives to increase their market share and increase their profitability. The key players in the Maritime Satellite Communication market are Marlink, Inmarsat Global Limited, Iridium Communications Inc., Thuraya Telecommunications Company, Hughes Network Systems, LLC, KVH Industries, Inc., Speedcast, NSSLGLOBAL, ORBCOMM, and GTMARITIME. among others.
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