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The global maritime satellite communication market is characterized by intensive competition and active presence of large players such as Inmarsat and Iridium
Communication is a vital component of maritime business. There is an ever increasing need of real-time data communication to monitor ship, cargo, and vessel to ensure security and surveillance. Efficient communication system ensures performance and efficiency of the ship. Dedicated satellite communication systems deliver vital real-time communication capabilities to keep vessels connected to headquarters while traveling through remote marine locations. MarketsandMarkets expects the global maritime satellite communication market size to grow from USD 2.01 Billion in 2015 to USD 3.10 Billion by 2020, reflecting a compound annual growth rate (CAGR) of 9.0% during the forecast period of 2015 to 2020.
Key players in the maritime satellite communication market include Inmarsat Communications, Inc., Iridium communications, Inc., Thuraya Telecommunications Company, Hughes Network System LLC., KVH Industries, Inc., VIASAT, Harris Caprock, Royal Imetech N.V., Globecomm Systems Inc., VT iDirect, Inc., and others. These players opt various strategies to increase their global footprint and customer base. Mergers & acquisitions, new product launches, joint ventures, and expansion are the key strategies adopted by the players to grab more market share.
The global maritime satellite communication market is characterized by intensive competition and active presence of large players such as Inmarsat and Iridium. For more than a decade, Inmarsat has enjoyed a monopoly with pricing advantage and dominance over the global maritime satellite communication market. In order to enhance its product portfolio Inmarsat acquired TC Communications and Globe Wireless.
Currently the big players operating in MSS are facing competition from maritime VSAT service providers.
Most of the players in the market are value added reseller of Inmarsat and other major players. They increase their customer base by providing them with flagship products by these companies in addition to their own products. In recent years, the market has witnessed a lot of partnerships, agreements, and collaborations by the major players.
Top players in the maritime satellite communication market are focusing to enter into strategic partnership with other players to enhance their existing offerings and develop new products. For instance, in 2015, Thuraya partnered with SpeedCast, a leading satellite service provider in order to enhance its existing maritime distribution network. On the other hand, KVH Industries became the global distributor of Inmarsat’s Fleet One and FleetBroadband services.
Maritime satellite communication vendors worldwide are continuously adding innovation to their existing flagship products and services to provide added features, reliability, and flexibility to customers. Different version of products and solutions are introduced under Global Express, Evolution, NIMBUD, IDirect Velocity, and FleetBroadband to deliver customized and comprehensive communication service to end users in maritime sector.
Maritime Satellite Communication Market by Type (VSAT, MSS), Service (Voice, Video, Data, Tracking & Monitoring), End User (Merchant Shipping, Fishing, Passenger Ship, Leisure Vessels, Offshore, Government, Others) and by Region - Global Forecast to 2020
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