The Global Mobile Satellite Services Market size is expected to reach $8.6 billion by 2029, rising at a market growth of 6.5% CAGR during the forecast period.
Defense & intelligence is the major end user of Mobile Satellite Services, these services are used in unmanned aerial vehicles to provide real-time intelligence, surveillance, and reconnaissance (ISR) capabilities. Therefore, Defense & Intelligence procured $1,789.4 million in 2022. In addition, the increasing use of these services for secure voice and data communication in tactical contexts also helps troops to communicate efficiently in locations where terrestrial networks are not practical or reliable, fueling this market's expansion. Some of factor impacting the market are greater accessibility to more individuals, families, and households across all income groups, increasing need for several end-use industries and government initiatives, and strict regulations for satellite technology imposed by governments.
As digital technology continues to evolve, so have people's methods of learning, working, and communicating. The rapid technological breakthroughs of the Internet have resulted in positive cultural shifts in developing countries. Furthermore, the market is anticipated to be driven by the need for reliable, immediate access everywhere over the projected period. The growing demand from a variety of industries, including transportation, Banking, Financial Services, and Insurance (BFSI), healthcare, and automotive, among others, is a key reason fueling the market's expansion in terms of revenue. As a result, the market is largely experiencing revenue growth due to increased Research and Development (R&D) efforts, product launches, and advancements in current product lines.
However, all stations must be designed and run in a way that does not interfere negatively with the radio services or communications of other participants, recognized operating agencies, or other licensed operating entities that carry on a radio service and operate in compliance with the Radio Regulations, the ITU Radio Regulations, and the ITU Constitution, according to ITU Constitution Article 197. Space, in general, and GSO slots are becoming increasingly congested, partly due to satellite constellations. These issues can significantly hinder the market's expansion.
Based on type segment, the market is segmented into voice, and data. In 2022, the data segment held the highest revenue share in the market. The growing demand from sectors including aviation, maritime, emergency response, and oil & gas for high-capacity and high-speed data services in difficult and distant places is one of the main factors fueling the segment's expansion.
On the basis of application, the market is fragmented into land mobile, aviation & aeronautics, maritime, and M2M. The M2M services segment covered a considerable revenue share in the market in 2022. The capability of MSS to provide reliable connectivity for M2M services operating in inhospitable locations in which terrestrial networks might not be accessible or dependable is a key element influencing the market growth.
By end-user, the market is bifurcated into defense & intelligence, government, industrial, and enterprise. In 2022, the defense & intelligence segment dominated the market with the maximum revenue share. The necessity for dependable and secure communication in far-off and difficult locations has led to the use of mobile satellite services in the defense & intelligence industries.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 5.6 Billion |
| Market size forecast in 2029 | USD 8.6 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2029 |
| Revenue Growth Rate | CAGR of 6.5% from 2023 to 2029 |
| Number of Pages | 210 |
| Number of Table | 360 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Type, Application, End-user, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region wise, the market is analysed across North America, Europe, Asia Pacific and LAMEA. In 2022, the North America region led the market by generating the highest revenue share. In North America, the demand for stable and practical connectivity in remote areas drives the growing uptake of mobile satellite services. Many areas in North America, especially remote and rural ones, lack access to traditional telecommunications infrastructure. Traditional networks can be successfully replaced by mobile satellite services, enabling people to stay connected in these places.
Free Valuable Insights: Global Mobile Satellite Services Market size to reach USD 8.6 Billion by 2029
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 Geography
The Market size is projected to reach USD 8.6 billion by 2029.
Greater accessibility to more individuals, families, and households across all income groups are driving the Market in coming years, however, Strict regulations for satellite technology imposed by governments restraints the growth of the Market.
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.
The Land Mobile segment is leading the Market by Application in 2022 thereby, achieving a market value of $3.1 Billion by 2029.
The Industrial segment has shown the high growth rate of 6.8% during (2023 - 2029).
The North America segment dominated the Global Mobile Satellite Services Market by Region in 2022 and would continue to be a dominant market till 2029; thereby, achieving a market value of $2.9 Billion by 2029.
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