The North America Mobile Satellite Services Market would witness market growth of 6.0% CAGR during the forecast period (2023-2029).
Mobile satellite services (MSS) use satellite technology to provide voice and data communication services to mobile customers worldwide, no matter where they are on land, at sea, or in the air. These services are expanding significantly due to the growing demand for connection, especially in remote and rural locations with limited terrestrial infrastructure. Furthermore, the market is anticipated to maintain its upward trend in the coming years, largely due to the exploding use of mobile data and the expanding use of satellite-based Internet of Things (IoT) applications.
To address the problem of limited network coverage in outlying locations, telecom operators & providers are collaborating. The primary goal of these collaborations is to provide network access in areas where the current terrestrial network is insufficient. These initiatives are expected to close the network gap and fuel the growth of the sector in the near future. In addition to limited access to terrestrial networks, commercial operations in distant areas, such as maritime, mining, oil & gas, and defense industries, suffer several difficulties. As a result, these sectors are highly relying on satellite-based connectivity, that is supporting the market to expand.
The development of newer, more advanced communication & navigation satellites and systems to enhance and ensure uninterrupted communication capabilities in remote regions drives increased government activities, fueling revenue growth in this market. To command and manage forces, track adversary activity, and spot dangers that could affect the U.S. and its allies, the U.S. Department of Defense (DoD) depends on satellites' advantages for virtually every military operation. Furthermore, the government organizations in the area have worked hard to roll out new satellite or navigation systems, further accelerating the Satcom sector's growth. It is anticipated that these factors will aid in expanding the regional market.
The US market dominated the North America Mobile Satellite Services Market by Country in 2022 and would continue to be a dominant market till 2029; thereby, achieving a market value of $2,116.6 Million by 2029. The Canada market is exhibiting a CAGR of 8.4% during (2023 - 2029). Additionally, The Mexico market would showcase a CAGR of 7.4% 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 U.S., Mexico, Canada, and Rest of North America.
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.
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