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Maritime Satellite Communication Market Analysis, Opportunities And Forecast Report till 2025

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Manisha S

January 22, 2020: 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 Radiant Insights, 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.

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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.

Download Full Research Report @ https://www.radiantinsights.com/research/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.

About Radiant Insights:
At Radiant Insights, we work with the aim to reach the highest levels of customer satisfaction. Our representatives strive to understand diverse client requirements and cater to the same with the most innovative and functional solutions.

Media Contact:
Michelle Thoras.
Corporate Sales Specialist
Radiant Insights, Inc.
Phone: +1-415-349-0054
Toll Free: 1-888-928-9744
Email: [email protected]
Web: https://www.radiantinsights.com/
Blog: https://technologymedia29.wordpress.com/

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