SATELLITES TELEPHONES MARKET REPORT OVERVIEW
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The global satellites telephone market size is expected to be USD 4204.9 million in 2022 and the market is projected to touch USD 5631.88 million by 2031, exhibiting a Compound annual growth rate (CAGR) of 3.3% during the forecast (2024-2031). In the market study, our analysts have considered satellites telephones players such as Iridium, Inmarsat, Globalstar, Thuraya, SPOT Global Phone and NAVTEAM.
The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels.
A satellite telephone is also called as sat phone. With the help of this phone other phones can be connected. The connection can be achieved through radio networks. Instead of terrestrial cell sites the radio networks can be achieved with the help of satellites that orbit the earth.
Satellite phones are used in the military and defense sectors. They provide uninterrupted network connections and facilitate effective communication. This is identified as the latest trend in the market currently.
Occurrences of constant natural calamities have increased the market opportunities. The connection provided by these telephones is also highly secure. All of these factors play a major role in propelling the satellites telephone market growth.
COVID-19 Impact: Disruption in Functioning of Space Industry Decreased Market Share
The outbreak of COVID-19, caused many problems to the functioning all the industries, especially the space industry. There were unprecedented challenges in supply chain and production facilities during this period.
As a result, the production rate of Original Equipment Manufacturers (OEMs) slowed down to a great extent. Many consumer business contracts were also disposed due to unfavorable conditions. The spread of coronavirus also caused a delay in the launch of India’s first imaging geo satellite called as GISAT-1. Also it was observed that the space sector companies in United Kingdoms witnessed a reduction in their demand across all the nations. All of these factors brought down the satellites telephone market share during pandemic.
LATEST TRENDS
"Usage of Satellite Telephones in Military to Promote Market Growth"
Satellite telephones are primarily used in conducting telecommunication activities. This connectivity can be obtained through orbiting satellites rather than using terrestrial cellular networks that are conventional. The main advantage of using satellite phones is that they provide uninterrupted connectivity without any disturbance.
Uninterrupted connections can be achieved even in very remote areas where there are no strong connections. Certain areas are considered to be very sensitive, as most forms of communications can get censored. As connection can be obtained without any disturbance Sat phones are preferred to be used in military and government agencies. These are considered as the latest trend in the market.
SATELLITES TELEPHONES MARKET SEGMENTATION
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- By Type:
The market can be divided on the basis of type into the following segments:
LEO satellite telephone, and, GEO Satellite Telephone. The LEO satellite telephone segment is anticipated to dominate the market during the forecast period.
- By Application:
Based on application, the market share is bifurcated into the following segments:
Government & defense, oil and gas, marine, and, others. The Government & defense segment is expected to dominate the market during the forecast period.
DRIVING FACTORS
"Constant Temperature and Climatic Changes to Amplify Market Growth"
In the recent years it has been observed that the number of incidents of natural calamities have increased by a considerable percentage. This was confirmed by the reports produced by the New England Journal of medicine. Environmental problems have caused severe global climatic changes.
Heavy rainfalls, sleet, fog, tropical cyclones, extreme temperatures, heat waves, coastal floodings, droughts, and many other calamities are posing a constant trouble for obtaining proper connections from cellular networks that are land-based. Many precautions have to be taken to face uncertainties in network connections when cellular based networks are used. Replacing them with satellite telephones will help in decreasing the uncertainties as they are dependent on the movement of satellites around the planets. This factor is considered to drive the market growth.
"Increasing Prevalence of Terrorist Attacks in Various Parts of World to Impede Market Growth"
Satellite phones are very similar to that of normal smartphones. All the features are very similar except that sap phones are connected to satellite networks. These phones can be used in remote and sensitive areas. Places that are prone to several terrorist attacks increasingly use sat phones.
Many technological developments have improved the market conditions. Smart sat phones are being launched in the satellite telephone market. These telephones are equipped with voice mails and there will be no cases of dropped calls. Towers and other signal providing infrastructures are also not required to operate these telephones. The connection provided is also highly secure. All of these factors are impeding the satellite telephone market share.
RESTRAINING FACTOR
"Stringent Rules and Regulations Imposed by Government Authorities to Bring Down Market Share"
One of the major factors that can act as a restraining factor for the development of the market is the stringent rules and regulations that are imposed by government about using satellite telephones. There are rules that make it mandatory to seek approval before purchasing a sat telephone. This can decrease the demand for such telephones hampering the market growth.
These devices can work only in an open environment and cannot operate within an enclosed space. The bandwidth for internet access is usually very low. The size of these phones can sometimes be bigger than the usual size of a phone. The size of antenna is also huge. All of these factors can deteriorate market growth.
SATELLITES TELEPHONES MARKET REGIONAL INSIGHTS
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"North America to Dominate Market Share in the Upcoming Years "
The region that is forecasted to occupy majority of market share is North America. One of the important factors that has promoted the development of satellite telephones market here is the highly flourishing space industry. Many developments have been made in the aeronautical market. Several satellites have been launched into the space.
Sat telephones are also employed by the defense and military sector as they provide uninterrupted connections. Increasing prevalence of natural calamities in North America and Canada have increased the demand for satellites telephones. Terrorist attacks are also frequent in this region. All of these factors have collectively favored the development of the market in North America.
Key Industry Players
"Leading Players adopt Acquisition Strategies to Stay Competitive "
Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.
List of Market Players Profiled
- Iridium (U.S)
- Inmarsat (U.K)
- Global star (U.S.)
- Thuraya (U.A.E)
- SPOT Global Phone (U.S.)
- NAVTEAM (Malaysia)
Report Coverage
The report provides an insight into the industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations. List of key industry players have been listed down to understand the competition in the market.
REPORT COVERAGE | DETAILS |
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Market Size Value In |
US$ 4204.9 Million in 2022 |
Market Size Value By |
US$ 5631.88 Million by 2031 |
Growth Rate |
CAGR of 3.3% from 2022 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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Which are the driving factors of the satellites telephone market?
Occurrences of constant natural calamities have increased the market opportunities. The connection provided by these telephones is also highly secure. All of these factors play a major role in propelling the satellites telephone market growth.
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What region is leading the satellites telephone market?
North America is dominating the satellites telephone market share.
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Which are the top companies operating in the satellites telephone market?
Iridium, Inmarsat, Global star, Thuraya, SPOT Global Phone, and, NAVTEAM are the top companies operating companies in the satellites telephone market.