As per recent studies, mobile satellite services require high initial investment, which has rendered the market moderately competitive. The prominent companies in the market primarily compete on the basis of performance, product quality and features, technology, and innovation. Besides this, several vendors around the world are deploying solutions either independently or alongside channel partners intending to consolidate larger share in the global mobile satellite services market. To sustain growth amidst intensifying competition, the market players are keen on pacing up with emerging technologies to keep their product lines up-to-date. According to a new study by Transparency Market Research (TMR), 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. are among the key players operating in the global mobile satellite services market.
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In 2017, the global mobile satellite services market was valued at US$3942.3 mn. Rising at a healthy 7.4% CAGR between 2017 and 2025, the global market is likely to reach US$6955.3 mn by the end of 2025. Holding nearly 66.2% of the market based on service type, the data segment emerged dominant in 2016. Its dominance is expected to remain sealed through the aforementioned forecast period. In terms of end-use industry, the market will witnessed the military and defense segment emerge at the fore in 2016. Regionally, North America accounted for the dominant share of 34.7% in the global mobile satellite services market in 2016. However, during the course of the forecast period South America is likely to show the fastest CAGR. Besides this, promising growth is expected in Asia Pacific, as countries such as Australia, Japan, and China exhibit high demand for mobile satellite services.
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