The Europe Mobile Satellite Services Market would witness market growth of 6.3% CAGR during the forecast period (2023-2029).
The commercial satellite service sector has been rapidly growing in recent years. An organization with unique capabilities can flourish with the help of satellite communications, which also allows for quick and inexpensive service delivery. Satellites will continue to provide effective broadcast services, serving as various special use cases in cutting-edge infrastructure solutions.
Mobile-to-fixed and mobile-to-mobile voice and data communications are made possible by mobile satellite services, which go beyond the limitations of terrestrial-based wireless systems in terms of range. Many of the challenges associated with giving a mobile user a satellite connection has been overcome by technological advancements in satellite and aerial designs. Mobile voice and data services are now extremely easily and affordably available because of more advanced and potent satellites.
Climate and weather-related disasters were responsible for almost 83% of the economic losses recorded in the 28 EU member states until 2017. These losses cost a total of 420 billion euros. The floods in October in Italy, France, and Central Europe are two of the major and most severe natural catastrophes mentioned as having caused the most fatalities. The most frequent natural catastrophe in Europe is flooding. By 2020, floods would have been responsible for more than 40% of all weather-related incidents. Up to 2020, however, heat-related disasters made up around one-fifth of all-natural disasters. Following the river/flash flood in Belgium and Germany in 2021, the worst flood in Europe was the storm surge in Belgium and the Netherlands. The continuous occurrence of these natural disasters increases the demand in the region.
The Germany market dominated the Europe Mobile Satellite Services Market by Country in 2022 and would continue to be a dominant market till 2029; thereby, achieving a market value of $589.2 Million by 2029. The UK market is showcasing a CAGR of 5.4% during (2023 - 2029). Additionally, The France market would display a CAGR of 7.1% during (2023 - 2029).
Based on Type, the market is segmented into Data and Voice. Based on Application, the market is segmented into Land Mobile, Aviation & Aeronautics, Maritime and M2M Services. Based on End User, the market is segmented into Defense & Intelligence, Government, Industrial, and Enterprise. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide Mobile Satellite Services Market is Projected to reach USD 8.6 Billion by 2029, at a CAGR of 6.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Viasat, Inc., Hughes Network Systems, LLC (EchoStar Corporation), Thuraya Telecommunications Company PJSC (Al Yah Satellite Communications Company PJSC) (Mamoura Diversified Global Holding PJSC), Iridium Communications Inc., Telefonaktiebolaget LM Ericsson, Inmarsat Global Limited (Connect Bidco Limited), Orbcomm, Inc. (GI Partners L.P.), Telstra Corporation Limited, Telesat Corporation, and Speedcast International Limited.
By Type
By Application
By End User
By Country
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