The Maritime Satellite Communication Market is expected to experience significant growth during the forecast period, with an expected increase from USD 3.20 billion in 2018 to USD 8.30 billion by 2026, at a CAGR of 11%. This growth is due to the increasing need for improved communication in the maritime industry.
The use of Maritime Satellite Services (MSS) is prevalent in marine communication to ensure the smooth and fast sailing of ships and marine transportation. With the increasing threats in the marine environment, such as piracy, maritime terrorism, and gun-running, the demand for more secure and cost-effective communication services is increasing. As maritime transportation is connected to a country's economy, its security is of utmost importance.
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The report on the Maritime Satellite Communication market includes drivers, restraints, opportunities, and challenges related to the market, as well as an extensive analysis of the value chain, patent, manufacturing capability and technology status, commercialization potential, and market size forecasts until 2026.
The market is segmented into products, service types, applications, and regions. Very small aperture terminal (VSAT) and Mobile satellite services (MSS) are the two product segments, with VSAT expected to see the highest growth due to the increasing implementation of Ku-Band. In terms of service type, data is the most commonly used mode of communication due to its affordability, while video communication is expected to see the highest growth. Merchant shipping, offshore, government, passenger ship, and fishing are the application segments. The passenger ship segment is expected to drive the implementation of low-cost technologies.
Driving factors of Maritime Satellite Communication Market
Some of the notable innovations in the Maritime Satellite Communication Market
The Key players in the Maritime satellite Communication market include
Harris Caprock (Singapore), Iridium Communications (US), Thuraya Telecommunications Company (UAE), Hughes Network System LLC. (USA), Inmarsat communications (London), KVH Industries (US), VIASAT (US), , Royal Imetech N.V. (Netherlands) and Globecomm Systems(US).
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