The global maritime satellite communication market is segmented into type such as mobile satellite services (MSS), very small aperture terminal (VSAT), surveillance and tracking, detectors and others. Among these segments, very small aperture terminal (VSAT) is expected to grow at highest CAGR in overall global maritime satellite communication market during the forecast period. Factor such as increasing operational efficiency and on-board security is believed to impetus the growth of the fixed-wing drones segment over the forecast period.
Global maritime satellite communication market is expected to flourish at a CAGR of 10.5% over the forecast period. Rising wide area network coverage for military ships and shipyards is anticipated to drive the growth of the global maritime satellite communication market over the forecast period. Moreover, increasing security concern regarding safety is expected to drive the overall market of maritime satellite communication over the forecast period i.e. 2018-2027.
North America dominated the overall maritime satellite communication market and is expected to continue its control over the forecast period. Further, increasing rate of adoption and deployment of low cost cloud solutions is expected to accelerate the growth of the market in the upcoming years which in turn is likely to propel the demand for maritime satellite communication. Furthermore, Europe maritime satellite communication market is anticipated to witness robust growth during the forecast period. Further, rising number of maritime satellite communication services in the region is anticipated to positively impact the growth of the global maritime satellite communication in Europe.
Rising Adoption of Modern Maritime Satellite Communication
Factor such as rising adoption of modern maritime satellite communication technology such as very small aperture terminal (VSAT) and mobile satellite services (MSS) is anticipated to positively impact the growth of the global maritime satellite communication market over the forecast period. Moreover, advancement of technology in the developing regions is expected to drive the overall market of maritime satellite communication over the forecast period.
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Increasing Demand of IOT Connected Devices
Increase in demand of IOT connected applications and sensing electronics devices across the globe is expected to increase the growth of global maritime satellite communication market. Further, rise in demand of maritime satellite communication in various military sectors is anticipated to increase the growth of global maritime satellite communication market.
However, high initial installment cost and rain attenuation is likely to limit the growth of global maritime satellite communication market over the forecast period.
The report titled “Maritime Satellite Communication Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the global maritime satellite communication market in terms of market segmentation by type, by end user, by service and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global maritime satellite communication market which includes company profiling of Inmarsat Communications, Iridium Communications, Thuraya Telecommunications Company, VT iDirect, Inc., Hughes Network System LLC., KVH Industries, VIASAT Inc., Harris Caprock, Royal Imetech N.V. and Globecomm Systems. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global maritime satellite communication market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
“The Final Report will cover the impact analysis of COVID-19 on this industry (Global and Regional Market).”
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