Rising Demand for Communication Security Drives Mobile Satellite Phone Market Growth 2031
Rising usage of satellite phones during emergencies in marine, aviation, defense, and government boosts the global mobile satellite phone market growth.
PORTLAND, PORTLAND, OR, UNITED STATE, April 9, 2024 /EINPresswire.com/ — According to the report, the global mobile satellite phone industry generated $553.6 Million in 2021, and is anticipated to generate $808.5 Million by 2031, witnessing a CAGR of 3.9% from 2022 to 2031.
The growing requirement for worldwide connection in areas, such as marine, aviation, defense, and government and the rising usage of satellite phones during emergencies are some factors expected to boost the growth of the global mobile satellite phone market during the forecast period. Besides, introducing low-earth orbit satellite constellations, such as Starlink and OneWeb, stimulates industry innovation and competition, resulting in new goods and services and lower client prices.
Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/A73121
However, the technical limitations, such as dead spots in the network and low voice quality are expected to be the major factor hampering the mobile satellite phone market growth. On the contrary, the technological advancements in satellite phones and the growing defense expenditure in various countries across the globe are predicted to create massive growth opportunities for the global mobile satellite phone market by 2031.
Covid-19 Scenario:
• The COVID-19 pandemic has moderately impacted the global mobile satellite phone market.
• The pandemic has disrupted global supply chains, leading to delays in the production and delivery of mobile satellite phones and related equipment. Besides, there was a reduction in demand for mobile satellite phones, as many businesses and individuals cut back on spending due to financial uncertainties caused by the pandemic.
• However, government organizations in various countries extended their support for mobile satellite phones to overcome the challenges during the COVID-19 emergency. Additionally, several market participants focused their efforts on new product development and strategic alliances to lessen the impact of the pandemic on the mobile satellite phone market.
For Report Customization: https://www.alliedmarketresearch.com/request-for-customization/A73121
Based on application, the maritime sub-segment of accounted for the largest share in 2021 and is projected to maintain its lead position during the forecast period. In the mobile satellite phone market, the marine sub-segment includes the usage of satellite phones and associated amenities aboard ships and other boats at sea. Mobile satellite phones are used in maritime for several things, including navigation, weather monitoring, emergency and safety communications, and entertainment. There are options for communication, navigation, weather monitoring, and entertainment.
Based on region, North America held the highest market share in terms of revenue in 2021 and is likely to dominate in the global mobile satellite phone market during the forecast period. The significant growth of the North America market is mainly due to the region’s vast and diversified market, presence of industry leaders, a supportive regulatory framework, and the increasing demand for satellite communications services in a variety of industries. North America is connected to numerous industry leaders in the mobile satellite phone market, including Inmarsat, Iridium, and Globalstar.
Based on type, the LEO satellite phone sub-segment of the global mobile satellite phone market held the highest share in 2021 and is estimated to maintain its leadership status throughout the forecast period. The significant growth of the sub-segment is mainly because LEO satellites orbit the Earth at a much lower altitude as compared to traditional geostationary satellites, which provide several benefits for satellite phone users, including faster data transfer and lower latency. Besides, the demand for LEO satellite phones is driven by the rising need for reliable communication services in remote areas, as well as advancements in satellite technology.
Buy Now & Get Exclusive Discount on this Report: https://www.alliedmarketresearch.com/mobile-satellite-phone-market/purchase-options
Leading Market Players: –
• Iridium Communications Inc.
• Globalstar, Inc.
• Thuraya Telecommunications Company
• Inmarsat Global Limited
• Beam Communications Pty. Ltd.
• Bharat Sanchar Nigam Limited
• KVH Industries, Inc.
• K.S.C.
• TS2 Space Sp. z o.o.
• Garmin Ltd.
The report provides a detailed analysis of these key players in the global mobile satellite phone market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Inquiry Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/A73121
Thanks for reading this article; you can also get individual chapter-wise sections or region-wise report versions like North America, Europe, or Asia.
If you have special requirements, please tell us, and we will offer you the report as per your requirements.
Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
Similar Report:
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies. This helps us dig out market data that helps us generate accurate research data tables and confirm utmost accuracy in our market forecasting. Every data company in the domain is concerned. Our secondary data procurement methodology includes deep presented in the reports published by us and is extracted through primary interviews with top officials from leading online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
5933 NE Wi
Toll-Free: 1-800-792-5285
UK: +44-845-528-1300n Sivers Drive
#205, Portland, OR 97220
United States
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on: LinkedIn Twitter
David Correa
Allied Market Research
+1 5038946022
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn
