Maritime Satellite Communication Market 2018: Demand and Trends till 2023

The global maritime satellite communication market was valued at USD 2.39 billion in 2017, and is expected to reach a value of USD 3.96 billion by 2023, at a CAGR of 6.90%, during the forecast period (2018 - 2023).

Companies Mentioned:
Inmarsat Communications, Iridium communications, Inc., Thuraya Telecommunications Company, VT iDirect, Inc., KVH Industries, Inc., Harris CapRock Communications, Royal Imtech N.V., Globecomm Systems, ViaSat Inc.

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The scope of the report covers various segments which include by Type mobile satellite services (MSS), very small aperture terminal (VSAT), surveillance and tracking, detectors, and by end-user industry are limited to naval forces, coastal security services, merchant navy, government, shipping vessels. While the region considered in the scope of the report include North America, Europe, Asia pacific, Middle East & Africa, and Latin America.

Increased Seaborne Threats:

As geopolitical power shifts from the Atlantic to the Indian Ocean, policy makers are putting more emphasis on advanced sea lines of communications, for ensuring smoother sail of ships and vessels. Non-traditional seaborne threats, such as gun-running, maritime terrorism, piracy, and drug trafficking have grown exponentially, as the major threats that world is facing from offshore. To tackle these attacks, there is need for secure and efficient communication infrastructure, which in turn, is boosting the maritime satellite communication market. Maritime security is important for any country, as it is linked to a nation’s economic development. Sea lines of communications always play an important role in economy, as the majority of trade is led by sea activities.

Mobile Satellites Services has a Major Market Share:

The mobile satellites service consists of earth stations, such as Ship Earth Station (SES), Communication Earth Station (CES) and Mobile Earth Station (MES). Because of the wide area network coverage, these services are mainly used in military ships and shipyards. These services include: Telex, data for distress, safety alerts and messaging provision for maritime security. MSS systems are currently undergoing a transition from the traditional approach of production to a more pragmatic, technologically advanced approach that ensures miniaturization and enhanced capabilities. This transition is boosting the market for mobile satellite services in the maritime satellite communications market.

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North America is One of the Largest Markets for Advanced Communication Technological Research:

The huge market in the region is mainly due to growing R&D activities and industrialization. In the last three decades, strategic and tactical missions were primarily dependent on the Military Satellite Communications (MILSATCOM). US and other armed forces are making more emphasis on having uninterrupted, high capacity and reliable communications. These factors have been always the main concerns for every military commander, and especially in the case of the United States. The North American naval structure is built on the basis of Mahan naval doctrine, where, controlling the sea lines of communication is expected to place any country in a dominating global power. To achieve this global hegemony, the region requires effective communication with all its ships and units, mainly military assets, anywhere in SLOC, which in turn, boosts the North American maritime satellite communications market.

Key Developments in the Market:

• October 2017 - Marine electronics and airtime service provider Mackay Communications has partnered with Inmarsat to distribute Fleet Xpress to the global maritime market – including deep-sea vessels, commercial fishing, oil and gas, defence, and cruise-passenger lines. The partnership will also include a global 24/7 installations and service agreement; leveraging Mackay’s technical expertise to support the rapidly growing installation and conversion opportunities for Fleet Xpress systems in ports worldwide

Reasons to Purchase this Report:

• Increased seaborne threats act as a driver to the global market scenario
• Analyzing various perspectives of the market with the help of Porter’s five forces analysis
• Which solutions and type of security is expected to dominate the market
• Which regions are expected to witness fastest growth during the forecast period
• Identifying the latest developments, market shares, and strategies employed by the major market players
• 3-month analyst support, along with the Market Estimate sheet (in Excel)

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