The maritime satellite communication market is driven by the need for enhanced data communication in the maritime industry. This is necessary for improved on-board security and surveillance, operational efficiency, and employee and passenger welfare. Key players in the market are introducing less expensive satellite communication technology, attracting end-users who were previously unable to access these services. However, the lack of awareness among end-users and the need for expensive infrastructure are hindering market growth. On the other hand, the implementation of an integrated management system and the rise of cloud-based satellite communication platform providers present opportunities for market growth.
The COVID-19 pandemic has had a significant impact on the maritime satellite communication market. The economic shutdowns and collapse of oil prices have caused disruptions in the cruise sector. However, as maritime end-users look for ways to safely operate in the current situation and post-pandemic, the demand for connectivity may continue to increase. Regulatory pressure on crew welfare and communications is also driving the installation of new generation satellite communication systems on vessels.
Autonomous ships, which aim to make ships self-driven and increase productivity, are also fueling the growth of the maritime satellite communication market. These ships are equipped with advanced technologies and are constantly connected with onshore teams. Leading players in the market include Texas Instruments Incorporated, Maxim Integrated, Honeywell International Inc, ABB Ltd, Microchip Technology Incorporated, NXP Semiconductors, On Semiconductor, Emerson Electric Company, and Panasonic Corporation.