Maritime Satellite Communication Market Analysis

Maritime Satellite Communication Market Analysis

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Based on type, the market is divided into mobile satellite services (MSS) and very small aperture terminal (VSAT). In 2023, the VSAT segment accounted for over 55% market share. The demand for VSAT type in the market is driven by a combination of reduced antenna size and enhanced flexibility in coverage & throughput. Smaller VSAT antennas, offering maximum flexibility, enable easier installation on maritime vessels.
 

For instance, in August 2022, Marlink introduced a Ku-band VSAT service, Sealink 60, which is tailored for smaller merchants and offshore & fishing vessels. This service provides bandwidth speeds of up to 5Mbps and is designed for vessels transitioning from L-band services. The offering includes a selection of two standard 60cm antennas to accommodate different maritime needs.
 

Based on offering, the maritime satellite communication market is categorized into solution and services. In 2023, the solution segment accounted for over 60% market share and is projected to grow by 2032. The increasing demand for improved asset management and tracking capabilities is a major factor driving solution offerings in the market. Maritime stakeholders are seeking comprehensive communication solutions that enable real-time tracking and monitoring of vessels & assets. Satellite communication systems, with their global coverage, play a crucial role in providing reliable connectivity for efficient asset management, enhancing operational visibility, and ensuring the security & safety of maritime assets in real time.
 

North America dominated the global maritime satellite communication market with a major share of over 35% in 2023. The North America market is experiencing growth through the widespread adoption of advanced maritime antenna solutions. The proliferation of these cutting-edge antennas enhances communication efficiency at sea. Vessels in the region are increasingly equipped with sophisticated antenna technologies, ensuring reliable connectivity, and enabling seamless integration with advanced satellite communication systems. This trend is contributing significantly to the market growth in North America.