Pune, India, Oct. 11, 2023 (GLOBE NEWSWIRE) -- The global mobile satellite services market size is anticipated to grow attributed to the increasing use of MSS in both commercial and personal communication applications, states Fortune Business Insights™ in an upcoming report. The report, titled "Mobile Satellite Services (MSS) Market Size, Share & Industry Analysis, and Regional Forecast 2023-2030," highlights how MSS services are being adopted by private organizations and government agencies to enhance their communication and navigation systems.
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List of Key Players Profiled in the Mobile Satellite Services (MSS) Market Report:
- Telefonaktiebolaget LM Ericsson
- Motorola Solutions, Inc
- Globalstar
- Echostar Corporation
- EchoStar Corporation
- Viasat, Inc
- Telstra Iridium Communications Inc
- Hughes Network Systems LLC.
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2023-2030 |
| Historical Data | 2019-2021 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
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| Regions Covered |
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Report Coverage:
The report comprises segmentation of the market on the basis of product, type, consumption, distribution channel, and region, based on which, we made a list of companies and conducted a detailed analysis of their financial positions, product portfolios, and growth strategies. Our next step included study of core competencies of the key players and their market share to anticipate the degree of competition. A bottom-up procedure was conducted to arrive at the overall size of the market.
Drivers & Restraints:
Growing Usage of Satellite Communication Systems for Emergency Purposes to Drive Growth
The world is experiencing an increase in the frequency of natural disasters. These disasters are responsible for huge economic loss and claim nearly 60,000 deaths per year across the globe. Mobile satellite services could be the solution to prevent the loss. Deployment of satellite communication systems in disaster prone areas could help save lives as their communication is not disrupted by damage from disasters.
Increasing the usage of satellite communication systems as an emergency communication network will increase the demand for mobile satellite services. This is expected to drive the growth of the global mobile satellite services market. In addition, mobile satellite services are used in several countries to provide data on the occurrence of disasters. This is expected to further drive the growth.
Regional Insights:
Presence of Advanced Infrastructure to Help North America Lead the Market
Geographically, North America is expected to lead the global Mobile Satellite Services (MSS) market in the near future. This is attributable to the technologically advanced infrastructure and enhanced network connectivity present in the region. In addition, several government agencies have started adopting new navigation and satellite systems in order to enhance their daily communication. For instance, in 2018, the U.S Air Force announced to invest USD 130 million in SpaceX in order to support the launch of its Air Force Space Command Satellite-52 satellites in 2020. This is expected to further trigger the growth of the MSS market across the region.
Competitive Landscape:
Major Players to Embark on Expansion Strategies to Gain Market Share
The global Mobile Satellite Services (MSS) market comprises prominent payers that are focused on identifying new applications of the services in the commercial space. Additionally, these players are embarking on expansion strategies in order to gain market share. For instance, in March 2013, ORBCOMM Inc., a global satellite data communications company, announced the acquisition of GlobalTrak, which is an information services company. This will help the company expand its end-to-end solutions portfolio in key markets and new geographic regions.
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