The global marine communication systems market is expected to grow at a significant CAGR during the forecast period (2024-2031). The major factors propelling the growth of the global marine communication systems market include the adoption of newer generation technology by changing with existing communication systems. New and advanced marine communication systems have been introduced owing to the rising technological advancements due to the factors such as modular technology and cost optimization.
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Additionally, the launches of satellite communications systems will boost the growth of the market. Automation has been brought due to the introduction of satellite communication and decreased the requirement of skilled personnel to be available at the radio communication systems centre. Handheld radios and radiotelegraphy were the core elements of marine communication systems in the previous years. Satellite communication became the primary source of marine communication systems in the past few years, allowing ships to communicate with one another and with the land. Moreover, the safety and privacy concerns on the marine border will propel the growth of the market.
Unmonitored maritime areas and the fear of piracy both contribute to the growth of the global marine communication systems market, as delivering signals during a situation of emergency is critical to the cargo and passengers’ safety. Commercial, military, and other sorts of maritime applications all benefit from marine communication systems. Due to the lack of a communications network in the deep sea and oceans, marine communication devices are even more important since they allow for contact with onshore bases in the event of an emergency.
Several major players in the market including Inmarsat Global Ltd., Saab AB, Leonardo S.p.A., ORBIT Communication Systems Ltd., Oculus Technologies are strengthening their market presence by adopting various strategies such as product launches & developments, mergers and acquisitions, partnerships, and agreements. For instance, in September 2019, Velco, a Tata enterprise VSAT service provider launched India’s first maritime communication system in the form of broadband.
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Market Coverage
- Segment Covered-
o By Application
o By Area of Operation
o By Type
- Competitive Landscape- Inmarsat Global Ltd., Saab AB, Leonardo S.p.A., ORBIT Communication Systems Ltd., Oculus Technologies.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Marine Communication Systems Market by Segments
By Application
- Commercial
- Merchant Navy
- Fishing
- Oil & Gas
- Others
- Military
- Recreational
By Area of Operation
- A1
- A2
- A3
- A4
By Type
- Ship-to-Ship Marine Communication Systems
- Ship-to-Shore Communication Systems
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