Mobile Satellite Phone Market Estimated to Reach USD 808.5 Million by 2031, Growing at a CAGR of 3.9%

According to the report, the global mobile satellite phone industry generated $553.6 Million in 2021, and is anticipated to generate $808.5 Million by 2031, witnessing a CAGR of 3.9% from 2022 to 2031.

The mobile satellite phone is used for communication during emergencies such as fires, earthquakes, and others. In remote areas, mobile satellite phones are widely used to facilitate effective communication during emergency communications. In addition, mobile satellite phones can be used during natural disasters or severe weather conditions in regions or countries where cellular networks are damaged. Mobile satellite phones can be used for emergencies even during explosive attacks such as chemical nuclear, biological, or radiological. One of the benefits of mobile satellite phones is that they are simpler to operate than cellular phones. These phones are widely used for communication with planes, ships, command centers, ground-based phones, and other vehicles. These factors are anticipated to boost the mobile satellite phone market forecast in the upcoming years.

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The growing requirement for worldwide connection in areas, such as marine, aviation, defense, and government and the rising usage of satellite phones during emergency situations are some factors expected to boost the growth of the global mobile satellite phone market during the forecast period. Besides, the introduction of low-earth orbit satellite constellations, such as Starlink and OneWeb, is stimulating industry innovation and competition, resulting in new goods and services and lower client prices.

However, the technical limitations, such as dead spots in the network and low voice quality are expected to be the major factor hampering the mobile satellite phone market growth. On the contrary, the technological advancements in satellite phones and the growing defense expenditure in various countries across the globe are predicted to create massive growth opportunities for the global mobile satellite phone market by 2031.

Covid-19 Scenario:

• The COVID-19 pandemic has had a moderate impact on the global mobile satellite phone market.

• The pandemic has disrupted global supply chains, leading to delays in the production and delivery of mobile satellite phones and related equipment. Besides, there was a reduction in demand for mobile satellite phones, as many businesses and individuals cut back on spending due to financial uncertainties caused by the pandemic.

• However, government organizations in various countries extended their support for mobile satellite phones to overcome the challenges during the COVID-19 emergency. Additionally, several market participants focused their efforts on new product development and strategic alliances to lessen the impact of the pandemic on the mobile satellite phone market.

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Based on application, the maritime sub-segment of the accounted for the largest share in 2021 and is projected to maintain its lead position during the forecast period. In the mobile satellite phone market, the marine sub-segment includes the usage of satellite phones and associated amenities aboard ships and other boats at sea. Mobile satellite phones are used in maritime for a number of things, including navigation, weather monitoring, emergency and safety communications, and entertainment. There are options for communication, navigation, weather monitoring, and entertainment.

Based on type, the LEO satellite phone sub-segment of the global mobile satellite phone market held the highest share in 2021 and is estimated to maintain its leadership status throughout the forecast period. The significant growth of the sub-segment is mainly because LEO satellites orbit the Earth at a much lower altitude as compared to traditional geostationary satellites, which provide several benefits for satellite phone users, including faster data transfer and lower latency. Besides, the demand for LEO satellite phones is driven by the rising need for reliable communication services in remote areas, as well as advancements in satellite technology.

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Based on region, North America held the highest market share in terms of revenue in 2021 and is likely to dominate in the global mobile satellite phone market during the forecast period. The significant growth of the North America market is mainly due to the region's vast and diversified market, presence of industry leaders, a supportive regulatory framework, and the increasing demand for satellite communications services in a variety of industries. North America is connected to numerous industry leaders in the mobile satellite phone market, including Inmarsat, Iridium, and Globalstar.

Leading Market Players: -

• Iridium Communications Inc.
• Globalstar, Inc.
• Thuraya Telecommunications Company
• Inmarsat Global Limited
• Beam Communications Pty. Ltd.
• Bharat Sanchar Nigam Limited
• KVH Industries, Inc.
• K.S.C.
• TS2 Space Sp. z o.o.
• Garmin Ltd.

The report offers a comprehensive analysis of the global mobile satellite phone market analysis by thoroughly studying different aspects of the market including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working towards the growth of the market. The report also highlights the present scenario and upcoming trends & developments that are contributing toward the growth of the market.

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