Mobile Satellite Services Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Mobile Satellite Services Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global mobile satellite services market size reached US$ 4.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 6.8 Billion by 2028, exhibiting a growth rate (CAGR) of 5.8% during 2023-2028.

Mobile satellite services (MSS) are radio communication services providing voice, data, and Internet services to mobile and fixed terminals, ships, aircraft, buildings, and land vehicles. These telecom services have a wide-area earth coverage and their operations are typically independent of local telecommunications infrastructure. They are considered beneficial during a disaster as MSS can provide disaster relief telecommunications. At present, they are increasingly being employed in the aerospace, maritime, automotive, and healthcare industries across the globe.

Mobile Satellite Services Market Trends:

High-speed internet penetration and improving wireless access have resulted in the introduction of new capabilities, such as enhanced data and multimedia access. This represents one of the key factors driving the market. Moreover, there is a considerable increase in the use of MSS by military and defense personnel who travel abroad or operate on land, sea or air frequently in areas far from terrestrial or cellular coverage. Besides this, forestry, mining, and oil and gas companies utilize MSS for voice communication, remote connectivity, and tracking and automated monitoring of equipment and hardware. In addition, these services are used by individuals that walk, ride and sail into areas far from terrestrial coverage. MSS provides voice and data services that help them track, locate, and communicate with authorities in case of an emergency. This, coupled with the escalating demand for low-earth orbit (LEO) satellites, is strengthening the growth of the market. Furthermore, increasing 5G mobile networks with next-generation satellite capabilities is catalyzing the demand for mobile satellite services worldwide. Other factors, including rising technological advancements and the increasing digitalization around the world, are anticipated to influence the market positively in the forecasted period.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global mobile satellite services market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on service type, application type and industry vertical.

Breakup by Service Type:

Voice Service
Data Service
Video Service

Breakup by Application Type:

Land
Air
Maritime

Breakup by Industry Vertical:

BFSI
Aerospace and Defense
Healthcare
Public Sector
IT and Telecom
Retail
Others

Breakup by Region:

North America

United States
Canada

Asia-Pacific

China
Japan
India
South Korea
Australia
Indonesia
Others

Europe

Germany
France
United Kingdom
Italy
Spain
Russia
Others

Latin America

Brazil
Mexico
Others

Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being EchoStar Corporation, Globalstar Inc., Inmarsat, Intelsat S.A., Iridium Communications Inc., Orbcomm, Singtel, Telefonaktiebolaget LM Ericsson, Telstra Corporation Limited, Thuraya Telecommunications Company and Viasat Inc.

Key Questions Answered in This Report:

What was the size of the global mobile satellite services market in 2022? , What is the expected growth rate of the global mobile satellite services market during 2023-2028? , What has been the impact of COVID-19 on the global mobile satellite services market?
What are the key factors driving the global mobile satellite services market?
What is the breakup of the global mobile satellite services market based on the service type?
What is the breakup of the global mobile satellite services market based on the application type?
What is the breakup of the global mobile satellite services market based on the industry vertical?
What are the key regions in the global mobile satellite services market?
Who are the key players/companies in the global mobile satellite services market?