Global Maritime Satellite Communication Market Overview:
Maritime Satellite Communication systems are the communication systems that work on boats, ships, cruises and others while travelling through the sea. These systems are essential to make communication with other ships and cruises. Technological advancements in communication systems and the need for maritime satellite communication are majorly driving the market. These communication systems are also used by military, vessels and shipyards and other places.
Global Maritime Satellite Communication Market Size:
According to Research Cosmos, The Global Maritime Satellite Communication Market is expected to grow from USD 2.01 Billion in 2015 to USD 3.10 Billion by 2020, at a CAGR of 9.0% during the forecast period.
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Drivers and Restraints:
As geopolitical power shifts from the Atlantic to the Indian Ocean, policymakers are putting more emphasis on advanced shipping lines to ensure smoother navigation for ships and boats. Non-traditional maritime threats, such as arms trafficking, maritime terrorism, piracy and drug trafficking, have grown exponentially, constituting the main threats to the world from the coast. To cope with these attacks, a secure and efficient communication infrastructure is needed, which in turn feeds the maritime satellite communications market. Maritime safety is important for all countries because it is linked to the economic development of a country. Maritime lines of communication still play an important role in the economy, as most trade is led by maritime activities. The mobile-satellite service includes earth stations, such as the ship earth station (SES), the communication earth station (CES) and the mobile earth station (MES). Due to the wide coverage of the local network, these services are mainly used in military vessels and shipyards. These services include telex, distress data, security alerts and message delivery for maritime safety. MSS systems are now moving from the traditional production approach to a more pragmatic and state-of-the-art approach that ensures miniaturization and improved capabilities. This transition is driving the market for mobile satellite services in the maritime satellite communications market.
The huge market in the region is mainly due to the growth of research and development and industrialization activities. Over the last three decades, strategic and tactical missions have relied primarily on military satellite communications (MILSATCOM). US Armed Forces and others are putting more emphasis on uninterrupted, high-capacity and reliable communications. These factors have always been the primary concern of all military commanders, particularly in the case of the United States. The naval structure of North America is built on the basis of the Mahan Naval Doctrine, in which it is expected that the control of maritime lines of communication will place any country in a dominant world power. To achieve this global hegemony, the region needs effective communication with all its ships and units, primarily military assets, located throughout SLOC, which in turn drives the satellite communications market in North America.
Iridium Communications, Inc., Inmarsat Communications, VT iDirect, Inc., Thuraya Telecommunications Company, Harris CapRock Communications, KVH Industries, Inc., Globecomm Systems, Royal Imtech N.V., and ViaSat Inc., are the major players in the global market.
Scope of the report:
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.
The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.
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