Maritime Satellite Communication Market 2032: Rising Demand for Connectivity Drives Growth in the market.

Need of enhanced data communication in the maritime industry for improved on-board security & surveillance, operation efficiency, and employee/passenger welfare majorly drives the maritime satellite communication market. In addition, less expensive satellite communication technology introductions by key players drives the market by attracting end-users, which were unable to access satellite communication services earlier. In addition, extensive applications/benefits of satellite communication systems in maritime industry is leading to growing adoption of this systems.

However, lack of awareness among end users about these technologies and the need of expensive infrastructure hampers growth of the market. On the contrary, growing adaptation or implementation of an integrated management system and rise of the cloud-based satellite communication platform providers are key opportunities for the market growth in next few years.

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Impact of COVID-19 on Maritime Satellite Communication Market:

➢ The widespread economic shutdowns due to pandemic caused unprecedented break to the cruise sector along with considerable short-term disruption caused by collapsing oil prices.

➢ Cruise ships and vessels are repatriating crew members. However, after the pandemic they would require to transport goods, acquire crew, and perform essential services.

➢ Maritime end-users are looking for ways to safely operate in the current situation as well as post pandemic; hence, the demand for connectivity may continue to increase on a per-vessel basis.

➢ Regulatory pressure on crew welfare and communications is the major factor pushing maritime operators to install new generation satellite communication systems on their vessels.

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E-navigation strategy is developed by the International Maritime Organization (IMO) to maintain better communication between ship-to-shore and ship-to-ship. It is facilitating greater data and information exchange between ships. It reduces human error and failure margins by employing a superior functioning system that consist of enriched electronics, navigational tools, and satellite communication systems.

E-navigation systems that are widely being used in the maritime industry includes Automatic Identification System (AIS), Long Range Identification and Tracking Systems (LRIT), Global Maritime Distress Safety System (GMDSS), Automatic Radar Plotting Aids (ARPA), Integrated Navigation Systems (INS), Integrated Bridge System (IBS), and Electronic Chart Display and Information System (ECDIS).

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Key benefits of the report:

➢ This study presents the analytical depiction of the global maritime satellite communication industry along with the current trends and future estimations to determine the imminent investment pockets.

➢ The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global maritime satellite communication market share.

➢ The current market is quantitatively analyzed to highlight the global maritime satellite communication market growth scenario.

➢ Porter's five forces analysis illustrates the potency of buyers & suppliers in the market.

➢ The report provides a detailed global maritime satellite communication market analysis based on competitive intensity and how the competition will take shape in coming years.

Autonomous ships are aimed at making ships self-drivento increase productivity and competency, thus allowing smooth functioning of tasks. It minimizes human errors and reduces manpower required for operations on ships.

Presently, these types of mostly unmanned ships are being experimented, which are equipped with several upgraded technologies such as tracking systems, a positioning system for being informed about different routes, advanced sensors to avoid obstacles, and control systems to operate these ships from the teams at the shore if needed. These ships are constantly connected with the onshore teams and hence, this trend of autonomous ships fuels growth of maritime satellite communication market.

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Leading Market Players:

➢ Texas Instruments Incorporated

➢ Maxim Integrated.

➢ Honeywell International Inc

➢ ABB Ltd

➢ Microchip Technology Incorporated

➢ NXP Semiconductors

➢ On Semiconductor

➢ Emerson Electric Company

➢ Panasonic Corporation

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