How Has the Mobile Satellite Services Market Size Evolved in Recent Years?
The mobile satellite services market has seen considerable growth due to a variety of factors.
• In the past few years, the mobile satellite services market has experienced significant growth. It is projected to increase from its 2024 value of $5.34 billion to a size of $5.75 billion in 2025, at a compound annual growth rate (CAGR) of 7.6%.
Its growth during the historical period can be tied to the rise in global connectivity needs, higher use in military and defense sectors, the expansion of broadcasting and media, improved enterprise connectivity, and increased telecommunications backhaul.
What Are The Predictions for The Mobile Satellite Services Market in the Coming Years?
The mobile satellite services market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are high for the mobile satellite services market size to experience robust growth in the coming years. Projections show the market expanding to a worth of $7.32 billion by 2029, with a compound annual growth rate (CAGR) of 6.2%.
The predicted growth throughout the forecast period could be credited to the expansion of emerging markets, increased commercial space ventures, the rise of smart transportation, the growth of agriculture and precision farming, and the adoption of intelligent transport systems. The primary trends expected to shape the forecast period include the integration of 5G networks, the accelerated expansion of IoT connectivity, a heightened demand for broadband connectivity, improved disaster response and public safety solutions, and the diversification of service offerings.
Which Drivers Are Accelerating Growth In The Mobile Satellite Services Market?
The mobile satellite services market is projected to grow with the expansion of oil and gas exploration activities. This exploration involves seeking out underground or offshore oil and natural gas reserves. The surge in these explorations is due to a combination of economic, technological, and geopolitical influences to address the world's energy demands. Mobile satellite services play a significant role in these activities by providing reliable communication, data transmission, and environmental monitoring in remote and difficult-to-reach locations, as well as logistic support. For example, the Energy Information Administration, a U.S government agency, reported a 9% increase in U.S. crude oil production in March 2024 compared to 2023, hitting a record 12.9 million barrels per day. Despite U.S. refineries remaining optimized for heavier crude oil processing, this surge led to an increased crude oil export. Hence, the increase in oil and gas exploration is fueling the growth of the mobile satellite services market.
What Are The Core Segments Of The Global Mobile Satellite Services Market?
The mobile satellite services market covered in this report is segmented –
1) By Service: Voice, Data
2) By Application: Land Mobile Satellite Service, Aeronautical Mobile Satellite Service, Maritime Mobile Satellite Service
3) By Industry: Oil And gas, Media And Entertainment, Transportation, Aviation, Defense, Automative, Government, Other Industries
Subsegments:
1) By Voice: Satellite Phone Services, Push-To-Talk Services
2) By Data: Internet Access Services, Remote Monitoring And Control Services
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Which Emerging Market Trends Are Altering The Mobile Satellite Services Industry?
Key players in the mobile satellite service market are strategizing partnerships as an approach to deliver sturdy and reliable connectivity, especially in off-the-grid and rural locations that lack robust terrestrial infrastructure. Strategic partnerships entail the process of companies capitalizing on each other's strong points and resources for mutual gains and triumphs. For example, in June 2023, Spark New Zealand, a telecommunication firm based in New Zealand, entered into a partnership with Lynk Global, a US firm specialized in developing satellite-to-mobile-phone satellite constellations. This collaboration is intended to roll out a satellite-to-mobile service to bolster their client's connectivity, tackle key hurdles, seize budding opportunities, and position themselves as pioneers in novel connectivity solutions for the New Zealand market.
Who Are the Key Players In The Mobile Satellite Services Market?
Major companies operating in the mobile satellite services market are:
• Ericsson AB
• Telstra Corporation Limited
• Singapore Telecommunications Limited.
• Viasat Inc.
• Intelsat SA
• SES S.A.
• EchoStar Corporation
• Hughes Network Systems
• AI Yah Satellite Communications company P.J.S.C
• Inmarsat plc
• Eutelsat Communications S.A.
• Telesat Canada
• Iridium Communications Inc.
• Telespazio S.p.A.
• Comtech Telecommunications Corporation
• Orbcomm Inc.
• Encompass Digital Media Inc.
• Speedcast International Limited
• Globecast Asia Pte Ltd
• Gilat Satellite Networks Ltd.
• Globalstar Inc.
• Avanti Communications Group plc
• Ligado Networks LLC
• Russian Satellite Communications Company (RSCC)
• MTN Satellite Communications Inc.
What Are The Regional Insights Into The Mobile Satellite Services Market?
North America was the largest region in the Mobile Satellite Service market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the mobile satellite services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
