Mobile Satellite Services (MSS) Market – In-Depth Market Research and COVID-19 Trends Analysis
Mobile Satellite Services (MSS) market is expected to reach a value of US$ 6,955.3 Mn by 2024. The study projects the global Mobile Satellite Services (MSS) market to expand at a CAGR of 7.4% during the period from 2018 to 2024. Demand for the MSS is expected to surge in coming years due to rise in oil & gas exploration and mining activities in remote areas.
The global mobile satellite services (MSS) market, by geography, has been segmented into North America, Europe, Asia Pacific, Middle East and Africa (MEA), and South America. North America is anticipated to contribute major share of about 34.7% in 2016 of the overall MSS market. Within North America, the U.S and Canada are anticipated to drive the growth of mobile satellite services (MSS) market. This is due to growing preference for satellite technologies across the government and aeronautical sectors. The growth in Canada is also contributed to expansion of major players in the Canadian market. Also Canadian companies are leaders in various segments of the satellite industry including satellite manufacturing, ground equipment and satellite services. Furthermore, convergence of satellite and terrestrial mobile technology is expected to increase adoption for mobile satellite services due to highest mobile penetration rate in the region.
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South America is anticipated to be the fastest growing region which is closely followed by the Asia Pacific region during the forecast period. However, Brazil among other countries are projected to witness significant growth in the market. The emergence of newly industrializing countries in South America drives up demand for satellite communication in the region. The growth in South American market, in terms of backhaul is one of the main reasons for the increase of satellite phones subscriptions. Across Asia Pacific, countries including Australia, China and Japan are anticipated to drive the growth of Mobile Satellite Services (MSS) market. China dominated the market share in 2015 and is expected to continue its dominance over the forecast period from 2018 to 2024. The promising growth prospects of the Asia Pacific mobile satellite services (MSS) market can be attributed to the rising government contribution toward public safety to overcome incidents in aeronautical, maritime and military sector. For instance, the disappearance of the Malaysian flight 370 in the South China Sea with 238 members on board has resulted in an increasing need for communication. Furthermore, Civil Aviation Administration of China (CAAC) has recently issued a new regulation which requires all commercial passenger airplanes in China to be equipped with mobile satellite communications by 2017.
Moreover, Europe is also expected to present growth avenues for the mobile satellite services market in the next few years. The major driving force promoting the MSS market in Europe is the presence of a large number of satellite manufacturers in the region as well as government regulations encouraging satellite communication for aviation, maritime and military sector. The Mobile Satellite Services (MSS) market in Middle East and Africa region occupies a relatively small part of the global market. Within Middle East and Africa, counties including GCC and South Africa are driving the growth of the Mobile Satellite Services (MSS) market.
Some of the key players profiled in the global mobile satellite services (MSS) report include Echostar Corporation, Ericsson AB, GlobalStar Corporation, Inmarsat Inc, Intelsat, S.A., Iridium Communications, Inc., ORBCOMM, Inc., Singtel Satellite, Telstra Corporation Ltd., Tesacom, Thuraya Telecommunications Company and ViaSat Inc among others.