The report intends to uncover the growth trajectory of the global maritime satellite communication market and provide an insightful analysis of how the progress will unfold over the course of next few years.
Market Analysis in Brief
The global maritime satellite communication market is predominantly driven by the need for data communication in the maritime industry. Data communication improves operational efficiency, enables onboard security and surveillance, and ensures employee/passenger welfare. Furthermore, the shipping industry has witnessed significant growth in recent years, resulting in burgeoning demand for reliable ship-to-shore and ship-to-ship communication systems. This in turn is further aiding in the expansion of the maritime satellite communication industry. The market growth is also influenced by the increasing requirement for high-speed internet for preventative maintenance, fuel-saving, and real-time navigation.
Key Report Findings
The advent of high-throughput satellite (HTS) has revolutionized the global maritime satellite communication market. HTS is designed to offer high-speed broadband connectivity to a large user base across a wide geographic area. Therefore, it emerges as an ideal solution to meet the unique communication needs of the maritime industry, where vessels are often stationed in isolated areas with limited terrestrial infrastructure. Moreover, HTS, compared to traditional maritime satellite communication solutions, offer better data transfer rates, coverage, and capacity.
Maritime operators can also enhance the safety and productivity of their operations by leveraging HTS technology to access real-time voice, video, and data communication services. Furthermore, HTS technology has enabled the deployment of advanced crew welfare services, such as high-speed internet access, social media, and video streaming, which can aid in improving crew morale and retention.
Integration of Advanced Technologies
Secure and reliable communication between ship and land is crucial for maritime crew who have limited mobility options. Sophisticated technology such as Artificial Intelligence (AI), Internet of Things (IoT), and cloud technology are therefore gaining prominence in the maritime industry, as they enable crucial operations such as real-time data telemetry. These advanced technologies are also being integrated into maritime satellite communication systems, allowing for enhanced tracking, monitoring, and communication capabilities.
For instance, AI, and IoT are being leveraged to predict weather patterns and sea conditions, enabling vessel operators to optimise their routes and avoid hazards. Apart from this, the integration of such advanced technologies has facilitated the development of new value-added services such as crew welfare, cybersecurity, and remote training. Such a scenario has in turn necessitated the use of 5G mobile networks to ensure optimal utilization of these technologies. Overall, the integration of advanced technology in maritime satellite communication is fostering robust growth across the maritime satellite communication market.
Growing Role of Governments
Government authorities worldwide have increased investments in communication systems that enable real-time monitoring of ships, and vessels at sea. Gauging the momentum of these notable trends, the global maritime satellite communication market is expected to attain an unprecedented level of growth in the years to come.
Overview of Key Segment
VSAT Gains Significant Traction
The very small aperture terminal (VSAT) segment is anticipated to account for a lion’s share in the global maritime satellite communication market. The advantages of VSAT over mobile satellite services (MSS), including reduced time lag and global coverage, is a key factor catalysing growth across the segment. The broadband VSAT network is being utilised to establish onboard VPN networks which connect ships to shore and cover fleets. This connectivity enables critical business applications, maritime operators’ access to information, and integration of voice over internet protocol (VoIP).
VSAT offers continuous access to the Internet for email, file sharing, and instant messaging. Additionally, VSAT has provided the option of unlimited data usage at a fixed monthly payment. Such access enables the crew to stay connected with their family and friends and get access to entertainment content at a reasonable rate.
Commercial Vessels to Take Market Lead
On the basis of end user, the global maritime satellite communication market is divided into naval vessels, commercial vessels, leisure vessels, and offshore oil rigs. Over the projection period, the commercial vessels segment is anticipated to lead the market. Commercial vessels, including container ships, tankers, and bulk carriers, account for a significant portion of the maritime industry.
As global demand for goods and commodities rises, the number of commercial vessels is predicted to increase. These vessels require reliable communication systems to maintain constant contact with the shore, make real-time decisions, and ensure the safety and security of the crew and cargo. Furthermore, the commercial vessel segment has witnessed an uptick in the adoption of the latest technologies such as VSAT, IoT, and AI to boost operational efficiency, reduce expenses, and improve safety.
Primacy of Maritime Satellite Communication Service to Prevail
Maritime satellite communication services are set to take up the major value share in the global maritime satellite communication market. These services encompass a range of key offerings including data access weather and oceanographic for navigation and fishing, voice calling, and data services for email and internet access.
Another crucial factor driving the adoption of maritime satellite communication services is their ability to provide distress warnings in emergency situations. Furthermore, timely delivery has become a dynamic factor for the shipping industry. As a result, the industry is utilising vessel tracking services to achieve timely delivery and keep shore-side operations informed about the location.
Growth Opportunities Across Regions
Asia Pacific to Rise as a Leader with Expansion of Maritime Trade
The Asia Pacific region is expected to gain a competitive edge in the global maritime satellite communication market. This can be majorly attributed to the growth of maritime trade in the region as it has increased the demand for reliable and efficient maritime communication services. Additionally, the local government has invested in maritime security infrastructure, including communication systems, to protect their territorial waters from piracy and other security threats. The region has also been steadfast in adopting advanced communication networks and solutions. Apart from Asia Pacific, North America, and Europe are among the significant regional players in the global maritime satellite communication industry.
Leading Players in Global Maritime Satellite Communication Industry
Some of the prominent players in the global maritime satellite communication market include Inmarsat Global Limited, Leonardo S.p.A., Iridium Communications Inc., Thuraya Telecommunications Company, ViaSat Inc., KVH Industries, Inc., Orbcomm Inc., Singapore Technologies Engineering Ltd, EchoStar Corporation, Kongsberg Maritime AS, and Saab ABRohde & Schwarz GMBH.
Regional Classification of the Global Maritime Satellite Communication Market is Described Below:
Middle East and Africa
*Regions and countries are subject to change based on data availability
Key Elements Included In The Study: Global Maritime Satellite Communication Market
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