According to a recent report published by Allied Market Research, titled, “VSAT maritime satellite communication market by component, band type, services, and end user: global opportunity analysis and industry forecast, 2021–2030,” the global VSAT maritime satellite communication market was valued at $1.34 billion in 2020, and is projected to reach $2.96 billion by 2030, registering a CAGR of 8.5% from 2021 to 2030.
VSAT maritime satellite communication is a wireless connection that involves three satellite dishes, one at the internet service providers hub, one in space, and one attached to ships or seashore. In addition to the satellite dish, consumers also need a modem and cables running to and from the dish to modem.
Increase in imports and exports in various countries, owing to growing trade environment benefits growth of the market. Increase in exports through marine operations, owing to cheaper costs is leading to sales of more subscriptions for VSAT satellite communication services. In addition, increased imports and exports across several countries has made satellites busy in controlling traffic of communication signals.
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Key players operating in the global VSAT maritime satellite communication industry include Marlink, Inmarsat Global Limited, Iridium Communication Inc., Thuraya Telecommunications Company, Hughes Network System, LLC, KVH Industries, Inc., Speedcast, NSSLGLOBAL, ORBCOMM, and GTMARITIME.
The global VSAT maritime satellite communication market is segmented based on component, band type, services, end user, and region. By component, it is divided into solution and service. By band type, it is fragmented into, ku-band, ka-band, and c-band. In terms of services, it is segregated into voice, tracking and monitoring services, video, and data. In terms of end user, the market is classified into merchant shipping, passenger ships, leisure vessel, offshore, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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