Maritime Satellite Communication Market Size Worth $8.35 Billion By 2032 | CAGR: 8.20%

The global maritime satellite communication market size is expected to reach USD 8.35 billion by 2032, according to a new study by Polaris Market Research. The report “Maritime Satellite Communication Market Share, Size, Trends, Industry Analysis Report, By Type (VSAT, MSS), By Revenue Source (Hardware, Software, Services), By End Use, By Region, And Segment Forecasts, 2024- 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Growth in maritime communication services is propelled by the increasing demand for dependable and cost-effective communication solutions at sea. Rising adoption of satellite communication for a wide range of user-oriented services, including entertainment, tracking, and monitoring services, is expected to drive revenue growth in the coming years. It plays a crucial role in various sectors, including naval, commercial, leisure, and support vessels for oil rigs. Its services encompass voice calling, access to weather and oceanographic data for navigation and fishing purposes, data services for email and internet access, as well as vessel location tracking.

Timely delivery has emerged as a critical factor in the shipping industry, leading to substantial investments in research and development (R&D) activities. To achieve efficient and punctual deliveries, the industry relies on satellite vessel tracking services, which keep shore-side operations well-informed about the vessel's location and progress. Additionally, maritime communication services play a pivotal role in ensuring safety and efficiency during shipping operations. The ability to provide distress warnings when needed is a significant driver in the widespread adoption of maritime satellite communication. This feature enhances the industry's ability to respond swiftly and effectively to emergencies, further solidifying the importance of satellite-based communication solutions in the maritime sector.

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The market is poised to experience increased demand for the installation of new VSAT services, replacing traditional MSS services, driven by technological innovations like reduced dish size and lower data usage costs. The adoption of VSAT systems utilizing KU and KA band frequencies presents significant growth opportunities for the market. Furthermore, substantial investments by major manufacturers of maritime communication equipment to introduce more cost-effective satellite communication solutions are expected to further propel market growth. These advancements and investments are set to revolutionize the maritime communication landscape, making efficient and affordable satellite communication solutions more accessible to a broader range of users in the industry.

Satellite networks were traditionally employed for ship-to-shore communication and communication between marine vessels. However, their role has evolved significantly over time. Nowadays, satellite communication serves not only for voice calls but also for a wide range of user-oriented data services, including entertainment, tracking, and monitoring services. The versatility of these equipment has led to their widespread use, catering to diverse applications such as DTH broadcasting, disaster management, weather forecasting, voice calls, & navigation.

Maritime Satellite Communication Market Report Highlights

• Naval vessel segment expected to grow at the fastest rate, owing to increase in defense budgets, and communication systems in naval fleet
• VSAT segment will grow at rapid pace, owing to high-speed data, efficient satellite communication
• APAC will grow at fastest pace, owing to the growing adoption of VSAT technologies in cruise ships
• The global key market players include Inmarsat Global, Iridium Communications, Leonardo, Thuraya Telecommunications, and ViaSat

Polaris Market Research has segmented the maritime satellite communication market report based on communication type, revenue source, end use, and region:

Maritime Satellite Communication, Type Outlook (Revenue - USD Billion, 2019 - 2032)

• Very Small Aperture Terminal (VSAT)
  • Ka-Band
  • C-Band
  • Others
• Mobile Satellite Services (MSS)

Maritime Satellite Communication, Revenue Source Outlook (Revenue - USD Billion, 2019 - 2032)

• Hardware
• Software
• Services

Maritime Satellite Communication, Component Outlook (Revenue - USD Billion, 2019 - 2032)

• Naval Vessel
• Commercial Vessels
• Leisure Vessels
• Offshore Oil Rigs

Maritime Satellite Communication, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa

Maritime Satellite Communication Market Report Scope