Market Size of North America Mobile Satellite Services Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.25 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Mobile Satellite Services Market Analysis
The North America Mobile Satellite Services Market is expected to register a CAGR of 6.25% over the forecast period (2022 - 2027). The usage of satellite communication services for IoT, as well as in the disaster management areas in the region, is expected to boost the market studied over the forecast period.
- Mobile satellite services are used for several applications such as media broadcasting, weather, telecommunication, military intelligence, navigation, space exploration, 5G communications systems, and surveillance applications.
- Additionally, augmenting 5G mobile networks with next-generation satellite capabilities helps the mobile satellite operators play a vital role in the emerging 5G ecosystem.
- According to the Satellite Industry Association (SIA), ground equipment revenues have increased significantly due to the expansion of GNSS markets and network equipment. In contrast, customer equipment investments and resources have remained flat or slightly declining, indicating that mobile satellite communication (MOST) will become a fundamental growth point of the overall market studied.
- There is a growing trend among end-user industries to adopt data and voice mobile satellite services to satisfy their communication requirements, wherever their operations are located. Companies, such as Inmarsat, are offering pre-paid satellite services for voice and data via the Inmarsat pre-pay platform, with the introduction of support for voice calls originating in the United States and its territories.
- However, the lack of interoperability between MSS systems and increasing regulations on the use of satellite technology are restraining factors hindering the market's growth over the forecast period.
- According to the Satellite Industry Association, the commercial satellite industry played a pivotal role during the COVID-19 pandemic. The demand for satellite communication increased due to its vast applications in providing voice, data, and broadcast communications solutions along with navigation, earth observation, remote sensing, and other unique services vital for businesses, government customers, and consumers domestically and around the globe. Global space agencies, such as NASA, have leveraged communication satellites to illustrate the planet-wide changes resulting from COVID-19.
