The global maritime satellite communication market size is expected to grow from USD 2.3 billion in 2020 to USD 3.2 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 7.1% during the forecast period. Escalating need for enriched data communication to improve operation efficiency, on-board security and surveillance, and employee/passenger welfare in the maritime industry is driving the market. Furthermore, The major factor driving the maritime satellite communication market is the need to attain improved connectivity between the land and sea operations and realizing benefits in faster repair times, preventative maintenance, fuel-saving, and real-time navigation.
The major maritime satellite communication market vendors include Inmarsat (UK), Iridium Communications (US), Thuraya (UAE), Hughes Network Systems (US), KVH Industries (US), Viasat (US), Speedcast (Australia), ST Engineering (Singapore), NSSLGlobal (England), Marlink (France), ORBOCOMM (US), Navarino (Greece), Network Innovations (Canada), GTMaritime (England), AST Group (UK), Isotropic Networks (Wisconsin), Norsat International (Ontario), Satcom Global (Canada), Intelsat (US), and Orbit Communication Systems (Israel). These players have adopted various growth strategies, such as partnerships, agreements, and collaborations; and new product launches, to further expand their presence in the global maritime satellite communication market. New product launches, agreements, and collaborations have been the most adopted strategies by major players from 2018 to 2020, which helped them innovate their offerings and broaden their customer base.
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Inmarsat (UK) provides telephone and data services to users worldwide, via portable or mobile terminals which communicate with ground stations through thirteen geostationary telecommunications satellites. The company is a renowned global satellite operator to meet the stringent requirements of the Global Maritime Distress and Safety System (GMDSS) and the International Civil Aviation Organization (ICAO) for global safety communications and a provider of mobile satellite services across the land, air, and sea, globally. In the field of maritime satellite communication market space, the company offers a range of solutions and services, including Fleet Xpress, Fleet Data, Fleet Secure Portfolio, FleetBroadband, Fleet One, and Fleet Media. The company is serving a diverse clientele present across the globe in the regions of Europe, North America, APAC, Latin America, and MEA.
Thuraya (UAE) offers innovative communications solutions to a variety of sectors, including energy, government, broadcast media, maritime, military, aerospace, and humanitarian NGOs. Thuraya’s two satellites, serving over 160 countries, has expanded the group’s satellite fleet to five. The combination of geostationary satellites operating in the C, Ka, Ku, and L-bands jointly cover Europe, Africa, the Middle East, South America, and Asia, providing a broad range of fixed and mobile satellite services spanning voice and data communications to both commercial and government sectors.
Maritime Satellite Communication Market by Component (Solutions and Services), Solution (VSAT and MSS), Service (Tracking and Monitoring, Voice, Video, Data), End User (Merchant Shipping, Offshore, Government), and Region - Global Forecast to 2025
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