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(Wireless-NewsWire.Com, September 20, 2018 ) The Global Maritime Satellite Communication Market was valued at USD 2.35 billion in 2016 and is projected to reach USD 5.17 billion by 2025, growing at a CAGR of 9.18% from 2017 to 2025.
Mobile Maritime Communications is a communication platform by which two-way voice communication is made viable for users who are in remote locations or frequent travelers such as those between ship and coast stations. The Mobile satellite communications can offer several different ways of communications such as GPS, distress signaling, and PIN-based solutions. Communication is a crucial factor when it comes to Maritime business as it can be used in emergency situations to indicate the location of the employees. There is a rising demand for immediate data communication as it helps in the monitoring of ships, vessels, and cargo as well as to ensure surveillance and security.
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Recently there has been a growth in satellite and cellular communication technology and the less expensive technology. The advent of these has led to an increase in the growing demand for enriched data communication, integration of network management systems, and the adoption of cloud-based solutions. These factors have led to increasing applications of Maritime Satellite communications and therefore have been driving forces for the increase in Maritime Satellite communication’s market growth. Certain concerns for security and privacy, the high infrastructure and operational costs and the lack of knowledge about the technology among users are restraining factors for the Maritime Satellite communication’s market.
Competitive Landscape:
The major players in the market are as follows:
Iridium Communications, Inc.
Harris Caprock Communications, Inc.
Thuraya Telecommunications Company
Royal Imtech N.V.
Hughes Network Systems LLC
Globecomm Systems Inc
Inmarsat PLC.
Viasat
VT Idirect, Inc.
KVH Industries, Inc.
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