Commercial, cruise, and naval vessels demand broadband satellite communications solutions that allow ship-to-shore access 24 hours a day, seven days a week. Container ships and oil tankers, for example, rely on reliable satellite communications to stay linked to their headquarters and support crew welfare programmes. Communication between ships and between ships and ships and ships and ships and ships and ships and ships and ships and ships and ships and ships and ships and ships and ships and ships and ships and ships and Ships began equipping vessels with radios in the early half of the twentieth century, allowing them to broadcast distress signals to other ships as well as to those on land.
As a result of the necessity for cost-effective communication services at sea, the demand for maritime satellite communication is growing, affecting market growth. Naval forces and coastal security are increasingly using very small aperture terminal (VSAT) technology due to its superior features such as ease of installation, lower cost, and smaller size; additionally, high-end security solutions of VSAT technology are used to protect against obstructions and seaborne threats. As a result, the demand for VSAT is increasing, propelling the maritime satellite communication market forward.
The marine industry's growing need for better data communication to improve operational efficiency, on-board security and monitoring, and employee/passenger welfare is driving the market. Additionally, the demand for better connectivity between land and sea activities, as well as benefits such as shorter repair times, preventative maintenance, fuel savings, and real-time navigation, are driving the marine satellite communication market.
On the other hand, the high initial cost of maritime satellite communication is a major hindrance to the market's growth. An increase in the use of communication systems by various end-users such as naval vessels, pleasure vessels, commercial vessels, and others is projected to drive the growth of the marine satellite communication market.
The report also emphasizes several distinctiveness of the global maritime satellite communication industry by valuing the market from value chain breakdown. Moreover, the report encompasses numerous qualitative features of the maritime satellite communication industry which comprises market restraints, drivers, as well as key industry opportunities. Furthermore, the report offers an inclusive evaluation of the company profiling along with the market rivalry of local and global vendors.
The maritime satellite communication market has tough competition among the new emerging and pre-established market vendors. Besides, the maritime satellite communication industry vendors are trying to capture the prospective markets to grab a competitive advantage over the remaining industry vendors. To capture the market, market players are forming agreements, acquiring other companies & startups, mergers & acquisitions, partnerships & collaboration, and escalating their business existence.
The market is divided into merchant shipping, fishing, passenger ships, leisure vessels, government, and others, depending on the end user. The merchant shipping segment, among others, is expected to develop significantly by 2020. In recent years, satellite communication technology has advanced to the point that ships can communicate via satellite links from anywhere on the earth without the need for a skilled radio officer. Retailers can generate more money by providing robust communication services that keep their operations operating smoothly, thanks to this technological development. Recent advances in satellite communication, such as Ka-band and Ku-band in VSAT, have made it possible for the marine industry to connect at lower rates and provide access to meteorological data, position reports, and safety alerts without incurring higher communication expenses.
Over the forecast period, the Asia-Pacific area is expected to increase significantly. Several Asian countries are expected to adopt maritime satellite communication technology due to rising demand in the oil and gas, merchant shipping, mining, and passenger shipping verticals. The Asia-Pacific area is putting a lot of money into maritime satellite communication systems. This region has adopted maritime satellite technology in order to integrate advanced communication networks with people, such as crews working at isolated offshore locations. Offshore vessels, merchant shipping, and the government are all using modern maritime satellite communication technologies right now in big numbers.
The major players of the global Maritime satellite communication market are Harris Corporation, Inmarsat Global Limited, Iridium Communications Inc., Kongsberg Maritime, KVH Industries, Inc., Leonardo S.p.A., ORBCOMM, ROHDE&SCHWARZ, Thuraya Telecommunications Company, Viasat, Inc., and others. Renowned companies are offering new and modern Maritime satellite communication software solutions. In addition, the previously recognized as well as new market players are approaching the market with advanced and new strategic services and solutions and to remain competitive in the global market.
Segment Overview of Global Maritime Satellite Communication Market
Component Overview, 2019-2028 (USD Billion)
Type Overview, 2019-2028 (USD Billion)
- Very Small Aperture Terminal (VSAT)
- Mobile Satellite Services (MSS)
End User Overview, 2019-2028 (USD Billion)
- Merchant Shipping
- Passenger Ships
- Leisure Vessel
Regional Overview, 2019-2028 (USD Billion)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America