Press release
Mobile Satellite Services (MSS) Market Trends, Size, and Regional by 2023-2030
Mobile Satellite Services (MSS) Market
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Businesses across the world are seeking recovery due to the growing challenges amid the COVID-19 pandemic such as restrictions on working capacity and partial lockdowns. Shutdown of production units worldwide has affected the global Mobile Satellite Services (MSS) industry, due to which various projects have been delayed. At Fortune Business Insights, we are delivering comprehensive market reports that will help you find solutions to the various challenges that have occurred due to the crises.
Highlights of the Report:
The report comprises segmentation of the market on the basis of product, type, consumption, distribution channel, and region, based on which, we made a list of companies and conducted a detailed analysis of their financial positions, product portfolios, and growth strategies. Our next step included study of core competencies of the key players and their market share to anticipate the degree of competition. Bottom-up procedure was conducted to arrive at the overall size of the market.
Drivers & Restraints-
Growing Usage of Satellite Communication System for Emergency Purposes to Drive Growth
The world is experiencing an increase in the frequency of natural disasters. These disasters are responsible for huge economic loss and claim nearly 60,000 deaths per year across the globe. Mobile satellite services could be the solution to prevent the loss. Deployment of satellite communication systems in disaster prone areas could help save lives as their communication is not disrupted by damage from disasters.
Increasing usage of satellite communication systems as an emergency communication network will increase the demand for mobile satellite services. This is expected to drive the growth of the global mobile satellite services market. In addition, mobile satellite services are used in several countries to provide data on the occurrence of disasters. This is expected to further drive the growth.
Regional Insights-
Presence of Advanced Infrastructure to Help North America Lead the Market
Geographically, North America is expected to lead the global Mobile Satellite Services (MSS) market in the near future. This is attributable to the technologically advanced infrastructure and enhanced network connectivity present in the region. In addition, several government agencies have started adopting new navigation and satellite systems in order to enhance their daily communication. For instance, in 2018, the U.S Air Force announced to invest USD 130 million in SpaceX in order to support the launch of its Air Force Space Command Satellite-52 satellites in 2020. This is expected to further trigger the growth of the MSS market across the region.
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Competitive Landscape-
Major Players to Embark on Expansion Strategies to Gain Market Share
The global Mobile Satellite Services (MSS) market comprises prominent payers that are focused on identifying new applications of the services in the commercial space. Additionally, these players are embarking on expansion strategies in order to gain market share. For instance, in March 2013, ORBCOMM Inc., a global satellite data communications company, announced the acquisition of GlobalTrak, which is an information services company. This will help the company expand its end-to-end solutions portfolio in key markets and new geographic regions.
Industry Developments-
In February 2020, Telstra, an Australian communications provider, launched 5G mmWave with 26GHz spectrum band with Ericsson. The mmWave can be successfully scaled and tested as well as integrated for commercial mobile network.
In December 2019, Apple Inc. started working on satellite services to provide internet facility to its devices. In addition, the company is focusing on leveraging communication satellites to improve its navigation applications.
A List of Key Manufacturers Operating In the Global Mobile Satellite Services (MSS) Market:
Telefonaktiebolaget L M Ericsson
Motorola Solutions, Inc.
Globalstar
Echostar Corporation
Viasat, Inc.
Telstra
Iridium Communications Inc.
Hughes Network Systems LLC
Others
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