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Strategic Partnerships Driving Resilient Connectivity in Remote Areas Industry Trends Gaining Momentum in the Global Mobile Satellite Services Market
Mobile Satellite Services
Mobile Satellite Services Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size for mobile satellite services has seen substantial growth over the past few years. The market, which was worth $5.34 billion in 2024, is forecasted to grow to $5.75 billion in 2025, representing a Compound Annual Growth Rate (CAGR) of 7.6%. This robust growth during the historic period can be credited to the rise in global connectivity demands, the expansion of military and defense needs, the proliferation of broadcasting and media, enterprise connectivity growth, and the increase of telecommunications backhaul.
Mobile Satellite Services Market Size Forecast: What's the Projected Valuation by 2029?
In the coming years, significant expansion is predicted for the mobile satellite services market, with projections estimating it will reach $7.32 billion by 2029, recording a compound annual growth rate (CAGR) of 6.2%. This promising growth forecast can be correlated with several factors such as the expansion of emerging markets, the upsurge in commercial space activities, the rise of smart transportation systems, the advancement of agriculture and precision farming, and the adoption of smart transportation methods. Key trends driving this growth during the forecast period are the integration of these services with 5G networks, the swift growth of IoT connectivity, increasing broadband connectivity demand, improved disaster response mechanisms and public safety solutions, and the diversification of service offerings.
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What Are the Drivers Transforming the Mobile Satellite Services Market?
The mobile satellite services market is predicted to grow as a result of the increased exploration of oil and gas. Exploration of oil and gas includes the hunt for underwater or underground reservoirs of oil and natural gas reserves. This is ballooning due to various economic, technological, and geopolitical influences in order to cater to global energy requirements. Mobile satellite services play a critical role in oil and gas exploration tasks by providing a reliable means of communication, transferring data, aiding logistics, and performing environmental monitoring in isolated and demanding settings. To illustrate, the Energy Information Administration, a government entity based in the U.S, reported in March 2024 that U.S crude oil production saw a 9% growth in 2023 relative to 2022, peaking at 12.9 million barrels per day. This surge has led to an increase in crude oil exports, despite U.S refineries remaining prioritized for heavier crude oil processing. Thus, the increased exploration of oil and gas is propelling the growth of the mobile satellite services market.
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What Long-Term Trends Will Define the Future of the Mobile Satellite Services Market?
Prominent firms in the mobile satellite service sector are using strategic partnerships as a way to ensure unwavering and reliable connectivity, especially in rural or remote locations where terrestrial infrastructure is lacking. These partnerships involve companies utilizing each other's strengths and resources to obtain mutual benefits and success. For example, in June 2023, Spark New Zealand, a telecommunications company based in New Zealand, entered into a partnership with Lynk Global, a US company specializing in creating satellite-to-mobile-phone satellite constellations. Through this collaboration, they plan to initiate a satellite-to-mobile service with the goal of enhancing connectivity for their customers. They aim to tackle significant hurdles, take advantage of emerging opportunities, and establish their position as a pioneer in novel connectivity solutions for the New Zealand market.
Which Segments in the Mobile Satellite Services Market Offer the Most Profit Potential?
The mobile satellite services market covered in this report is segmented -
1) By Service: Voice, Data
2) By Application: Land Mobile Satellite Service, Aeronautical Mobile Satellite Service, Maritime Mobile Satellite Service
3) By Industry: Oil And gas, Media And Entertainment, Transportation, Aviation, Defense, Automative, Government, Other Industries
Subsegments:
1) By Voice: Satellite Phone Services, Push-To-Talk Services
2) By Data: Internet Access Services, Remote Monitoring And Control Services
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Which Firms Dominate the Mobile Satellite Services Market by Market Share and Revenue in 2025?
Major companies operating in the mobile satellite services market are Ericsson AB, Telstra Corporation Limited, Singapore Telecommunications Limited., Viasat Inc., Intelsat SA, SES S.A., EchoStar Corporation, Hughes Network Systems, AI Yah Satellite Communications company P.J.S.C, Inmarsat plc, Eutelsat Communications S.A., Telesat Canada, Iridium Communications Inc., Telespazio S.p.A., Comtech Telecommunications Corporation, Orbcomm Inc., Encompass Digital Media Inc., Speedcast International Limited, Globecast Asia Pte Ltd, Gilat Satellite Networks Ltd., Globalstar Inc., Avanti Communications Group plc, Ligado Networks LLC, Russian Satellite Communications Company (RSCC), MTN Satellite Communications Inc.
Which Regions Offer the Highest Growth Potential in the Mobile Satellite Services Market?
North America was the largest region in the Mobile Satellite Service market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the mobile satellite services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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