Maritime Satellite Communication Market Research Outlook 2022-2027 | Inmarsat Group Limited, Marlink SAS, KVH Industries Inc., Speedcast International

New York, March 22nd 2022, Market Insights Reports has released its latest market research report on the Maritime Satellite Communication Market.

The Maritime Satellite Communication Market report offers an in-depth assessment of market dynamics, the competitive landscape, segments, and regions in order to help readers to become familiar with the Maritime Satellite Communication market. It particularly sheds light on market fluctuations, pricing structure, uncertainties, potential risks, and growth prospects to help players to plan effective strategies for gaining successful in the Maritime Satellite Communication market. Importantly, it allows players to gain deep insights into the business development and market growth of leading companies operating in the Maritime Satellite Communication market.

The maritime satellite communication market registered a CAGR of 9% over the forecast period 2021 - 2026.

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Top Leading Companies of Maritime Satellite Communication Market are - Inmarsat Group Limited, Marlink SAS, KVH Industries Inc., Speedcast International (and Harris Caprock Communications Inc. ), NSSL Global Limited, Cobham (Thrane & Thrane A/S), Iridium Communications Inc., Thuraya Telecommunications Company, Hughes Network Systems LLC, Viasat Inc. and others.

Industry News and Updates:

- July 2020: Marlink completed its strategic agreement with Stolt Tankers to provide an upgrade in bandwidth and to enable greater digitalization of its operations, focusing on quality, safety, security, and client satisfaction. This upgradation of bandwidth will deliver greater efficiency in the IT management processes of Stolt Tankers.

- April 2020: KVH Industries, Inc announced to add the Mediterranean region under its KVH Elite services for unlimited HD-quality streaming onboard yachts. Moreover, this service enables people on board to use their favorite apps for streaming popular HD movie and TV content, music with no data usage limits.

Key Market Trends:

VSAT Technology is Expected to Occupy Significant Market Share

- VSAT technology has been leveraged to monitor vessel speeds and fuel consumption, realizing benefits in faster repair times, preventative maintenance, fuel-saving, and real-time navigation. Large shipping vessels and oil rigs have adopted VSAT to improve safety and operational intelligence. While cruise ships have equipped their ocean liners with VSAT equipment to meet the growing demand for connectivity as passengers bring more devices aboard.
- Modernizing ship management systems to improve engine and systems maintenance, navigation, weather information, and cargo tracking is gaining momentum in maritime VSAT applications. Also, naval VSAT helps vessels to report in advance and order supplies and spares ahead of time to ensure cost-effectiveness.

Asia Pacific is Expected to Register Highest Growth Rate

- According to Asia Pacific Satellite Communication Council (APSCC), Asia is expected to account for USD 800 million for satellite communication services by 2021. This is expected to be a key driver for the market for connectivity/communication for the maritime sector.
- The growing concern for the safety of people and the environment has impacted the growth of several efficient mission-critical operations with suitable tactical communication systems. In addition, the growing economies in the region have increased the amount of capital expenditure for mission-critical operations.

Investigator Observers Strong Growth in Specific Regions:

- Europe Market (Germany, UK, France, Russia, Italy)

- Center East and Africa Market (Saudi Arabia, UAE, Egypt, Nigeria, South Africa)

- South America Market (Brazil, Argentina, Colombia)

- North America Market (United States, Canada, Mexico)

- Asia Pacific Market (China, Japan, Korea, India, Southeast Asia).

The Latest Industry Data Included in this Report:
- Maritime Satellite Communication Market Size & Analysis (2016 - 2026)
- Market Share Analysis of Maritime Satellite Communication Market (%),2016 - 2026
- Maritime Satellite Communication Market Share, By Brand
- Maritime Satellite Communication Market Share, By Company
- Maritime Satellite Communication Market Assessment & Opportunity (Value),2016 - 2026
- Major Companies Maritime Satellite Communication Market Value Analysis & Forecast
- Promising Maritime Satellite Communication Development by Major Companies
- Detailed Maritime Satellite Communication Portfolio of the Major Companies
- Major Deals in the Maritime Satellite Communication Market
- Major Companies Analysis

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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

This release was published on openPR.