New York, USA, Sept. 14, 2021 (GLOBE NEWSWIRE) -- According to the report published by Research Dive, the global mobile satellite phone market is expected to generate a revenue of $5,262.1 million by 2027, growing rapidly at a CAGR of 4.0% during the forecast period (2020-2027). The inclusive report provides a brief overview of the current scenario of the market including significant aspects of the market such as growth factors, challenges, restraints, and various opportunities during the forecast period. The report also provides all the market figures making it easier and helpful for the new participants to understand the market.
Download Free Sample Report of the Global Mobile Satellite Phone Market: https://www.researchdive.com/download-sample/8353
Dynamics of the Market
Drivers: Increasing prominence of satellite phones due to the unavailability of communication cellular networks in emergency situations like man-made or natural disasters and even in defense missions for communicating with subordinates are expected to drive the growth of the market during the forecast period. In addition, satellite phones are small, lightweight, and are unconstrained to geographical locations. This factor is further expected to bolster the growth of the market during the analysis period.
Restraints: Stringent restriction and regulations imposed by the government on satellite phones are expected to impede the growth of the market during the forecast period.
Check out How COVID-19 impacts the Global Mobile Satellite Phone Market: https://www.researchdive.com/connect-to-analyst/8353
Opportunities: Persistent technological developments and the rising demand for smart satellite phones that can be used as both normal and satellite phone are expected to create enormous opportunities for the growth of the market during the forecast period.
Segments of the Market
The report has divided the market into various segments based on type, end-use, and region.
Type: GEO Sub-segment to be Most Profitable
The GEO sub-segment is expected to garner a revenue of $3,453.9 million during the forecast period. GEO satellites are fixated at higher altitudes in order to have a complete view and gain maximum area of coverage without major directional adjustments. This factor is expected to fuel the growth of the sub-segment during the forecast period.
Check out all Information and communication technology & media Industry Reports: https://www.researchdive.com/information-and-communication-technology-and-media
End-Use: Maritime Sub-segment to be Most Lucrative
The maritime sub-segment is expected to generate a revenue of $1,280.4 million during the forecast period. There has been an increasing demand for mobile satellite phones in the maritime sector, owing to the unavailability of network connection underwater, and hence, increasing need for team communication in case of rescue operations. This factor is expected to bolster the growth of the sub-segment during the forecast period.
Access Varied Market Reports Bearing Extensive Analysis of the Market Situation, Updated With The Impact of COVID-19: https://www.researchdive.com/covid-19-insights
Region: North America Expected to Dominate the Market
The North America mobile satellite phone market is expected to generate a revenue of $1,621.2 million during the forecast period. Tremendous investments done by major players of the market and necessary initiatives taken by the government in this region are expected to accelerate the growth of the market during the forecast period.
Impact of COVID-19 on the Market
The outbreak of COVID-19 has had a moderate impact on the growth of the global mobile satellite phone market, owing to the strategic collaborations, product developments, and lockdowns that were prevalent in various countries across the globe. Lockdowns resulted in the closure of various factories, disrupting the supply chain and production of mobile satellite devices. In order to lessen the impact several companies engaged in product developments and strategic alliances. Thus, the pandemic has had a moderate impact on the market.
Key Players of the Market
1. Globalstar
2. Inamrsat
3. Thuraya Telecommunications
4. Intelsat
5. PKI Electronic Intelligence GmbH
6. Erricson
7. Iridium Communications, Inc
8. EchoStar Corporation
9. AT&T
10. Telstra
For instance, in November 2018, Roadpost Inc., a dominant provider of mobile satellite services and equipment, acquired Satellite Phones Direct LLC, a provider of mobile satellite services to consumer and enterprise customers, so as to seek persistent opportunities in the mobile satellite services market through organic growth.
The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments. Click Here to Get Absolute Top Companies Development Strategies Summary Report.
TRENDING REPORTS WITH COVID-19 IMPACT ANALYSIS
Data Science Platform Market: https://www.researchdive.com/77/data-science-platform-market
Software Defined Perimeter (SDP) Market: https://www.researchdive.com/80/software-defined-perimeter-sdp-market
Mobile Device Management Market: https://www.researchdive.com/412/mobile-device-management-market
Managed Services Market: https://www.researchdive.com/388/managed-services-market
