Marine Communication Market Share, Global Industry Size, Growth, SWOT Analysis, Competitor Landscape, Regional Outlook 2023 to 2033

 The global marine communication market size is projected to cross a valuation of US$ 4,699.2 million in 2023. The market is expected to showcase a significant CAGR of 7.9% from 2023 to 2033.

Modern satellite communication must be managed to be fully integrated into the current communications and reconnaissance architectures. To boost operational agility, new terrestrial communication networks are available due to the development of satellite communication infrastructure. To shorten the temporal gaps and cover a wider area, numerous technology providers are creating improved satellite systems.

The key to ensuring the safety of ships in the marine industry may be to maintain effective communication. All ships and vessels operating on the water must maintain effective maritime communication to guarantee the efficient facilitation of trade and other activities. With effective satellite communication, the crew on board ships can link with other ships and teams. This helps to keep them informed of the present circumstances on board in real-time, hence lowering errors and enhancing efficiency.

To Get Sample Copy of Report @
https://www.futuremarketinsights.com/reports/sample/rep-gb-13029

Over the projection period, demand is likely to increase due to expanding investments made across numerous nations to upgrade the navy fleet’s antiquated systems. To avoid difficulties like piracy, international conflicts, and border infiltrations among others, the military and security sector must maintain connections with zero latency. Consequently, the attention of the coast guard, the navy, and other security agencies is turning to maritime satellite communication.

An important driver propelling the market forward is the growing adoption of sophisticated satellite systems and big data computing applications, Additionally, the growing understanding of the advantages of cloud solutions also aids market growth. Additionally, the market is anticipated to benefit from greater integration of satellite and mobile communication technologies.

Key Takeaways from Marine Communication Market:

  • In 2018, the global marine communication market size stood at US$ 3,251.5 million.
  • The market size stood at US$ 4,420.7 million in 2022.
  • The market expanded at a modest CAGR of 5.8% from 2018 to 2022.
  • In 2022, the marine radio devices segment captured a 25.1% market share. The sat phone and internet devices for marine may boost significantly.
  • In 2022, the integration & installation services registered a 44.8% market share.
  • In 2022, the United States captured 16.4% shares in the global market.
  • The United Kingdom marine communication market registered 12.4% market shares in 2022.
  • In 2022, China marine communication market registered 14.2% market shares globally.

Recent Developments Observed by FMI:

  • Boeing introduced a new military satellite in April 2023 that includes an anti-jam payload for better communication on the battlefield. Boeing’s Protected Tactical SATCOM Prototype is incorporated into the new Protected Wideband Satellite (PWS) design.
  • Northrop Grumman disclosed that it is developing geostationary communication satellites in April 2023. The American army chose the business to create Protected Tactical SATCOM prototype payloads.
  • The Indian Army and NewSpace India Limited agreed to a US$ 365 million contract in March 2023 for the purchase of an advanced communication satellite.

Key Players in Global Marine Communication Market

  • Icom Inc.
  • Inmarsat
  • Furuno Electric Co. Ltd.
  • Garmin Ltd.
  • FLIR Systems Inc.
  • Cobham SATCOM
  • Navico
  • Jotron
  • Intellian Technologies
  • Bochi Corporation
  • Avatec Marine

Marine Communication Market Segmentation

By Product:

  • Marine Radio Services
  • Marine Multifunction Displays (MFDs)
  • Automatic Identification Systems (AIS)
  • Vessel Monitoring System (VMS) Terminals
  • Marine Radars
  • VHF Data Exchange System (VDES)
  • Maritime Sat Phone & Internet Devices
  • Others

By Service:

  • Consulting Services
  • Integration & Installation Services
  • After-sales Support & Maintenance Services

By Application:

  • Fishing Boats/Vessels
  • Merchant Ships
  • Recreational Ships
  • Working Vessels
  • Others

By Region:

  • North America
  • South America
  • Europe
  • East Asia
  • South Asia & Pacific
  • The Middle East & Africa (MEA)

Comments

Post a Comment

Popular posts from this blog

OTT Content Market Research Report 2022 to Global Forecast till 2032

 The global  OTT content market  is anticipated to reach a valuation of US$ 434.98 Bn by 2032, with the market expanding at a prolific CAGR of 17.4% from 2022 to 2032. Predicted to reach an estimated US$ 87.46 Bn in 2022, the target market is likely fueled by a notable surge in market penetration as well as escalating demand for subscription-based services in emerging economies. The heightened popularity of live streaming channels will further aid the growth of the OTT content market during the forecast period. The deep market penetration of 4G and rising 5G infrastructure development across the globe aids the market growth of OTT content. An upsurge in high-speed bandwidth- which is an important criteria for proper functioning OTT services- propels the target market growth. The widespread usage pf high speed internet and smartphones, at competitive prices, amplifies the demand for the OTT content market. The gradual preference for SVOD over conventional TV services will supplement thi
Read more

Digital Transformation in Healthcare Market Trends | Segmentation, Outlook, Industry Report to 2033

 The global  digital transformation in healthcare market  is valued at approximately USD 65.2 billion in 2023. It is anticipated to grow to about USD 253.6 billion by 2033, with a consistent annual growth rate of 14.5% from 2023 to 2033. As digital health platforms like telehealth, mobile health, and wireless technologies become more common in medical facilities and nursing homes, they are providing patients with immediate access to medical care. This has made digital health a widely recognized term in healthcare. The impact of digital technology on various sectors such as public, retail, banking, financial services, and insurance (BFSI), and production is tremendous, but it has evolved into a game-changing technology in the medical field as end users’ reliance on digital health platforms grows. Request for a Sample of this Research Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-708 The emergence of healthcare smartphone applications and incentive proposals by gover
Read more

Flame Arrestor Market 2023 Outlook, Current and Future Industry Landscape Analysis 2030

  The Flame Arrestor market is witnessing robust demand due to increased industrial safety regulations. Growing awareness of explosion prevention measures in various sectors, including oil and gas, chemicals, and manufacturing, is driving the adoption of flame arrestors. The market is poised for expansion as companies prioritize safety solutions to mitigate the risk of fire and explosions. Flame Arrestor Market size was valued at USD 923.8 million in 2022 and is expected to grow to USD 1540.4 million by 2030 and grow at a CAGR of 6.6% over the forecast period of 2023-2030. In today's fast-paced corporate world, where agility and intelligence define success, having a sophisticated understanding of market dynamics is critical. In this environment, our thoroughly prepared Flame Arrestor market research study shines as a beacon of unrivaled wisdom, guiding businesses to strategic brilliance. Our study, crafted with accuracy and predicated on thorough data analysis, doesn't just ski
Read more