Maritime Satellite Communication Market is projected to achieve a CAGR of 10.75% to reach US$10.017 billion by 2029

The maritime satellite communication market is anticipated to grow at a CAGR of 10.75% from US$4.903 billion in 2022 to US$10.017 billion by 2029.

NOIDA, UTTAR PARDESH, INDIA, June 27, 2024 /EINPresswire.com/ -- According to a new study published by Knowledge Sourcing Intelligence, the maritime satellite communication market is projected to grow at a CAGR of 10.75% between 2022 and 2029 to reach US$10.017 billion by 2029.

The maritime satellite communication system comprises a of range communication components, which offer communication delivery through Ku-band, L-band, and Ka-band frequencies. It provides ships, yachts, and other maritime transport vehicles with a connectivity system. The maritime communication system offers real time monitoring of the ships and other vessels, along with providing navigational and surveillance data. This communication system also ensures the safety of the crew and vessels during operations.

Various vessels and ships use various components to ensure safe and constant connectivity, like the maritime satellite terminal, which is specifically designed to ensure all-time connectivity of the vessels, to the satellite. The maritime satellite communication system, with the use of satellite terminals, ensures constant connectivity of the vessels, also providing them with access to the internet, voice communication, remote monitoring, and other data transfer capabilities.

The maritime satellite communication market is expected to grow significantly, with the introduction of new technologies and major players in the market. In April 2024, Satcom Global announced its agreement with Intelsat, which focuses on the improvement of Satcom's AuraNow VSAT technology, along with the enhancements of its coverage area. Similarly, in April 2024, SES, a global communication provider, acquired Intelsat, which aims to improve the multi-orbit coverage of the operators. With this acquisition, SES aims to improve its resilience, along with improved network coverage. To further boost its maritime communication capability, Singapore Telecommunications Limited or Singtel, in January 2024, announced its addition of Starlink satellite broadband connectivity solution, which is better suited for maritime operators.

Access sample report or view details: https://www.knowledge-sourcing.com/report/maritime-satellite-communication-market

The maritime satellite communication market by type is segmented into mobile satellite service (MSS) and very small aperture terminal (VSAT). The very small aperture terminal (VSAT) category of the type segment of the maritime satellite communication market is expected to attain a greater market share. VSAT is an important component of the maritime satellite communication module. The VAST modules are generally equipped in smaller vessels, like the yachts, that offer reliable, and high-speed communication connections while the vessels are offshore.

The maritime satellite communication market by offering is segmented into solutions and services. Under the offering segment of the maritime satellite communication market, the solutions category is estimated to attain the maximum share. Under the solutions category, various components, like receivers, transponders, and terminals among others are offered by various companies. The demand for the solution category of the offering segment is projected to grow with the growing demand for maritime vessels in the global market. Components like satellite terminals, offered by various companies, ensure an uninterrupted connectivity of the marine vessels with the satellite, at every part of the globe.

The maritime satellite communication market by application is segmented as video communication, voice communication, and data communication. In the application segment of the maritime satellite communication market, the data communication category is projected to attain a greater market share. Data communication is the basis of the communication system, through which the ships and the vessels can share various important data, like navigational data, and environmental data. The data communication system is an important communication component, present at every maritime operator, and is expected to further grow with the increase in the maritime industry, like exports through ships, setting-up of rigs, and other leisure marine activities.

The maritime satellite communication market by end-users is segmented into merchant, offshore rigs & support vessels, leisure, finishing vehicles, and passenger fleets. Under the end-user segment of the maritime satellite communication market, the passenger fleets are projected to grow at a higher CAGR. In the passenger flees vessels like cruise ships market have witnessed a significant growth in demand over the years. The application of the satellite communication system is increasing in these ships, with the increase in its market demands. In passenger fleets, the operators use maritime satellite terminals to provide the passengers with internet, voice, and data connectivity solutions.

Based on geography, the maritime satellite communication market is expanding significantly in the North American region, as the region is among the biggest consumers of the maritime industry. The region has also witnessed significant growth in its passenger fleet industry, like cruise ships and yachts, which offer high-quality, high-speed, and reliable internet connectivity to its passengers. The increase of the maritime satellite communication market, in the region can also be witnessed by the increase in various leisure activities, like marine tourism, and others.

As a part of the report, the major players operating in the maritime satellite communication market that have been covered are Inmarsat Global Limited, Marlink, KVH Industries, Inc., NSSLGlobal, Speedcast, Cobham SATCOM, ST Engineering, Hughes Network Systems, LLC, Thuraya Telecommunications Company, and Iridium Communications Inc.

The market analytics report segments the maritime satellite communication market as follows:

• By Type

o Mobile Satellite Service (MSS)
o Very small aperture terminal (VSAT)

• By Offering

o Solution
o Service

• By Application

o Video Communication
o Voice Communication
o Data Communication

• By End-users

o Merchant
o Offshore Rigs and Support Vessels
o Leisure
o Finishing Vehicles
o Passenger Fleet

• By Geography

o North America

• United States
• Canada
• Mexico

o South America

• Brazil
• Argentina
• Others

o Europe

• United Kingdom
• Germany
• France
• Italy
• Spain
• Others

o Middle East and Africa

• Saudi Arabia
• UAE
• Others

o Asia Pacific

• Japan
• China
• India
• South Korea
• Taiwan
• Thailand
• Indonesia
• Others

Companies Profiled:

• Inmarsat Global Limited
• Marlink
• KVH Industries, Inc.
• NSSLGlobal
• Speedcast
• Cobham SATCOM
• ST Engineering
• Hughes Network Systems, LLC
• Thuraya Telecommunications Company
• Iridium Communications Inc.

Explore More Reports:

• Critical Communication Market: https://www.knowledge-sourcing.com/report/global-critical-communication-market

• Broadband Service Market: https://www.knowledge-sourcing.com/report/broadband-services-market

• 5G Satellite Communication Market: https://www.knowledge-sourcing.com/report/5g-satellite-communication-market

Ankit Mishra
Knowledge Sourcing Intelligence LLP
+1 850-250-1698
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