What Has Been The Evolution of the Maritime Satellite Communication Market in Recent Years?
The maritime satellite communication market has seen considerable growth due to a variety of factors.
• In recent times, the maritime satellite communication market has experienced substantial growth. The market size is projected to increase from $4.18 billion in 2024 to $4.57 billion in 2025, reflecting a compound annual growth rate (CAGR) of 9.4%.
The surge experienced during the historic period can be linked to rising demand for dependable and efficient communication systems and heightened concerns regarding piracy and other security threats at sea.
What Are the Future Growth Projections for the Maritime Satellite Communication Market?
The maritime satellite communication market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the maritime satellite communication market is projected to witness substantial growth, potentially reaching $6.08 billion by 2029 with a compound annual growth rate (CAGR) of 7.4%.
This anticipated increase during the forecast period can be tied to factors such as the growing digitalization, the entrance of 5g in maritime communication, and the emergence of autonomous vessels. Additionally, the market trend predictions for this period consist of the development of gyro-stabilized ground terminals, the integration of multi-frequency dish antennas, the adoption of entirely plastic designs, and an increased interest in ku-band within the shipping and maritime industry.
What Are The Core Factors Supporting Growth In The Maritime Satellite Communication Market?
The anticipated growth of the maritime satellite communication market is projected to be fueled by the expansion of marine trade operations. The transactions involved in marine trade, such as the shipping, purchasing, and selling of goods via seaways, function as a catalyst for global commerce. The creation of economic interconnections has led to a boost in inter-country trade, resulting in a surge in imports and exports. Maritime satellite communication is heavily utilized by the marine industry, offering real-time tracking capabilities for marine vessels alongside critical weather updates and operational data, thereby improving worldwide trade activities. For example, as per the United Nations Conference on Trade and Development, a US-based Department of Economic and Social Affairs, there was an expected 3.2% rise in shipping volumes as of April 2022. This led to a total of 11 billion tons, marking a 4.7% increase compared to 2021. This surge was primarily due to the increased activity of container ships, dry bulk carriers, and general cargo vessels. Consequently, the expansion of marine trade operations is steering the growth of the maritime satellite communication market.
What Are The Major Segments Within The Global Maritime Satellite Communication Market?
The maritime satellite communication market covered in this report is segmented –
1) By Type: Mobile Satellite Communication, Very Small Aperture Terminal (VSAT)
2) By Offering: Solution, Service
3) By End User: Merchant Shipping, Fishing, Passenger Ships, Leisure Vessel, Offshore, Government, Other End-Users
Subsegments:
1) By Mobile Satellite Communication: L-Band Services, Ku-Band Services, Ka-Band Services
2) By Very Small Aperture Terminal (VSAT): Fixed VSAT Systems, Portable VSAT Systems, VSAT-As-A-Service (VSaaS)
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What Trends Are Shaping The Maritime Satellite Communication Market?
Key players in the maritime satellite communication market, such as Thuraya Telecommunications Company, are focusing on the creation of advanced technologies like push-to-talk in order to stay competitive. This tech enables users to send audio signals only when a particular button is activated, simplifying on-demand communication in two-way radio systems. For example, in March 2022, the UAE-based company Thuraya introduced the Thuraya PTT, an advanced IP-based radio communication tool. This system, which works in conjunction with Thuraya broadband terminals to create private networks, integrates seamlessly with various other technologies like 3G, LTE, and LMR, through Thuraya's cutting-edge satellite infrastructure. This ensures continuous voice and data communication and is designed for simple usage. It also guarantees secure interoperability across different users who are using various communication systems, whether on land or at sea.
Who Are the Key Players In The Maritime Satellite Communication Market?
Major companies operating in the maritime satellite communication market are:
• Leonardo S.p.A
• Saab AB
• Space Exploration Technologies Corp. (SpaceX)
• Cobham SATCOM
• Kongsberg Maritime AS
• Viasat Inc.
• Advantech Wireless Inc.
• SES S.A.
• EchoStar Corporation
• Hughes Network Systems LLC
• Inmarsat plc
• Iridium Communications Inc.
• Telespazio S.p.A.
• Comtech Telecommunications Corp.
• ORBCOMM Inc.
• Speedcast International Limited
• ST Engineering iDirect
• Marlink AS
• Thuraya Telecommunications Company
• RigNet Inc.
• Gilat Satellite Networks Ltd.
• Gogo Business Aviation LLC
• Orbit Communication Systems
• Newtec
• KVH Industries Inc.
• Global Eagle Entertainment Inc.
• NSSL Global
• Globecomm Systems Inc.
• RASCOM
• Norsat International Inc.
What Is The Most Dominant Region In The Maritime Satellite Communication Market?
North America was the largest region in the maritime satellite communication market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the maritime satellite communication market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
