The growth of the market is governed by various factors such as enhanced need in the growth of improved communications
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.
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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Further key findings from the report suggest
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For this report, the market has been divided into segments on the basis of service type, product, Application, and region:
Service type (Revenue, USD Million; 2016–2026)
Product (Revenue, USD Million; 2016–2026)
Application (Revenue, USD Million; 2016–2026)
Regional Outlook (Revenue, USD Million; 2016–2026)
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