Increasing need for enhanced data communication and extensive use of maritime satellite communication are the factors propelling the market growth.
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According to StratisticsMRC, the Global Maritime Satellite Communication market is estimated at $2.25 billion in 2015 and is expected to reach $4.41 billion by 2022 growing at a CAGR of 10.1% from 2015 to 2022.
However, low awareness among users and huge infrastructure cost to support satellite communication are hampering the market. Bridging satellite and cellular communication technology is the opportunity for market growth.
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By Service, video communication is expected to show healthy growth to reach highest CAGR during forecast period attributed to increasing usage of HD TV’s, video conferences and more. Passenger ships are expected to move at highest CAGR in end user segment owing to increase in ship travellers across the globe.
Europe accounted for huge market share in maritime satellite communication market due to high demand. While, Asia Pacific is expected to be fastest growing region during forecast period, because of low rate of adoption in this region.
Some of the key players in the market include Hughes Network Systems LLC, Globecomm Systems Inc., Harris Caprock Communications, Inc., Iridium Communications, Inc., Navarino, Inmarsat PLC., MTN, Thuraya Telecommunications Company, KVH Industries, Inc., VT Idirect, Inc., Network Innovation, Viasat, Speedcast, Royal Imtech N.V. and Nsslglobal.
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Tracking & Monitoring
Mobile Satellite Service (MSS)
Very Small Aperture Terminal (VSAT)
End Users Covered:
Coastal Security Services
Other End Users
Rest of Europe
Rest of Asia Pacific
Rest of the World
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