Global Maritime Satellite Communication Market Poised for Growth, Expected to Reach $5.68 Billion by 2028

The Business Research Company's Maritime Satellite Communication Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LANDON, GREATER LANDON, UK, June 18, 2024 /EINPresswire.com/ -- The maritime satellite communication market size has grown strongly in recent years. It will grow from $3.81 billion in 2023 to $4.18 billion in 2024 at a compound annual growth rate (CAGR) of 9.7%. Despite various market dynamics, the market is anticipated to reach $5.68 billion by 2028, driven by increasing digitalization, the emergence of 5G in maritime communication, and the rise of autonomous vessels.

Maritime Satellite Communication Market Surges Amidst Global Growth in Marine Trade
The growing marine trade operations are expected to propel the growth of the maritime satellite communication market going forward. Marine trade operations involve the shipping, buying, and selling of goods and services through sea routes, facilitating international commerce. The interconnectedness of economies has facilitated increased trade between countries, leading to a rise in both import and export activities. The marine industry relies on maritime satellite communication for real-time tracking of vessels, weather updates, and efficient exchange of critical navigation and operational data, enhancing global trade operations.

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Major Companies and Market Trends
Major companies operating in the maritime satellite communication market include Leonardo S.p.A, Saab AB, Space Exploration Technologies Corp. (SpaceX), Cobham SATCOM, Kongsberg Maritime AS, Viasat Inc., Advantech Wireless Inc., SES S.A., EchoStar Corporation, Hughes Network Systems LLC, Inmarsat plc, Iridium Communications Inc., Telespazio S.p.A., Comtech Telecommunications Corp., ORBCOMM Inc., Speedcast International Limited, ST Engineering iDirect, Marlink AS, Thuraya Telecommunications Company, RigNet Inc., Gilat Satellite Networks Ltd., Gogo Business Aviation LLC, Orbit Communication Systems, Newtec, KVH Industries Inc., Global Eagle Entertainment Inc., NSSL Global, Globecomm Systems Inc., RASCOM, Norsat International Inc.

Innovations in Push-To-Talk Technology for Seamless and Secure Connectivity
Major companies operating in the maritime satellite communication market are focusing their efforts on developing advanced solutions, such as push-to-talk technology, to gain a competitive edge in the market. The technology allows users to transmit audio signals only when a button is pressed, facilitating on-demand communication in two-way radio systems.

Segments:
• By Type: Mobile Satellite Communication, Very Small Aperture Terminal (VSAT)
• By Offering: Solution, Service
• By End User: Merchant Shipping, Fishing, Passenger Ships, Leisure Vessel, Offshore, Government, Other End-Users

Geographical Insights: North America Leading the Market
North America was the largest region in the maritime satellite communication market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the maritime satellite communication market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Maritime Satellite Communication Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Maritime Satellite Communication Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on maritime satellite communication market size, maritime satellite communication market drivers and trends, maritime satellite communication market major players, competitors' revenues, market positioning, and market growth across geographies. The maritime satellite communication market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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