Mobile Satellite Services Market Report 2024: Size, Share, Trends, Growth Drivers, Forecast to 2033

Overview and Scope

Mobile satellite services (MSS) refer to telecommunications services provided through satellite systems specifically designed for mobile users. These services offer voice, data, and messaging capabilities to users who are in remote locations or areas where terrestrial networks are not available or unreliable.

Sizing and Forecast

The mobile satellite services market size has grown strongly in recent years. It will grow from $4.95 billion in 2023 to $5.34 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to emergence of global connectivity needs, increased military and defense applications, expansion of broadcasting and media, enterprise connectivity, telecommunications backhaul.

The mobile satellite services market size is expected to see strong growth in the next few years. It will grow to $6.9 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to emerging market growth, commercial space activities, smart transportation, increased agriculture and precision farming, adoption of smart transportation. Major trends in the forecast period include integration with 5G networks, rapid expansion of IoT connectivity, increasing demand for broadband connectivity, enhanced disaster response and public safety solutions, diversification of service offerings.

Order your report now for swift delivery, visit the link:
https://www.thebusinessresearchcompany.com/report/mobile-satellite-services-global-market-report

Segmentation & Regional Insights

The mobile satellite services market covered in this report is segmented –

1) By Service: Voice, Data
2) By Application: Land Mobile Satellite Service, Aeronautical Mobile Satellite Service, Maritime Mobile Satellite Service
3) By Industry: Oil And gas, Media And Entertainment, Transportation, Aviation, Defense, Automative, Government, Other Industries

North America was the largest region in the Mobile Satellite Service market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the mobile satellite services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Intrigued to explore the contents? Secure your hands-on a free sample copy of the report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=14143&type=smp

Major Driver Impacting Market Growth

The expansion of oil and gas exploration is expected to propel the growth of the mobile satellite services market going forward. Oil and gas exploration refers to the process of searching for underground or underwater reservoirs of oil and natural gas deposits. It is rising due to economic, technological, and geopolitical factors to meet global energy needs. Mobile satellite services are used in oil and gas exploration activities to offer dependable communication, data transmission, logistics assistance, and environmental monitoring in remote and challenging environments. For instance, in December 2022, according to reports shared by the Energy Information Administration (EIA), a US-based government agency, US oil production and natural gas production both increased in 2021. Oil production increased from 11.2 million barrels per day (b/d) in 2020 to 11.6 million barrels per day (b/d) by 2021, and natural gas production increased from 112.6 billion cubic feet per day in 2020 to 118.7 billion cubic feet per day by 2021. Therefore, the expansion of oil and gas exploration is driving the growth of the mobile satellite service market.

Key Industry Players

Major companies operating in the mobile satellite services market are Ericsson AB, Telstra Corporation Limited, Singapore Telecommunications Limited., Viasat Inc., Intelsat SA, SES S.A., EchoStar Corporation, Hughes Network Systems, AI Yah Satellite Communications company P.J.S.C, Inmarsat plc, Eutelsat Communications S.A., Telesat Canada, Iridium Communications Inc., Telespazio S.p.A., Comtech Telecommunications Corporation, Orbcomm Inc., Encompass Digital Media Inc., Speedcast International Limited, Globecast Asia Pte Ltd, Gilat Satellite Networks Ltd., Globalstar Inc., Avanti Communications Group plc, Ligado Networks LLC, Russian Satellite Communications Company (RSCC), MTN Satellite Communications Inc.

The mobile satellite services market report table of contents includes:

1. Executive Summary
2. Mobile Satellite Services Market Characteristics
3. Mobile Satellite Services Market Trends And Strategies
4. Mobile Satellite Services Market – Macro Economic Scenario
5. Global Mobile Satellite Services Market Size and Growth
.
.
.
32. Global Mobile Satellite Services Market Competitive Benchmarking
33. Global Mobile Satellite Services Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Mobile Satellite Services Market
35. Mobile Satellite Services Market Future Outlook and Potential Analysis
36. Appendix

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293

Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model