Mobile Satellite Services Market Outlook and Opportunities in Grooming Regions with Forecast 2032

Market Research Future has published a Cooked Research Report on the Global Mobile Satellite Services Market.

Overview

The mobile satellite services market is set to grow at a CAGR of 6.49% during the forecast period 2024 to 2032. As per the market research report, the market will hit USD 8.59 billion in terms of valuation by the end of 2032. The market growth will be driven by improvements in satellite communications. Based on the research report, launch of new satellites will accelerate growth in the market till 2032. Although dynamic policies and regulations will have a negative impact on the global mobile satellite services market  growth during this period. Irregular changes in policies are predicted to be a key challenge which could become a strong threat from 2024 to 2032 to companies. 

The market report published by expert analysts includes primary and secondary data and suggests that sales channel, type, and applications segments are anticipated to witness tremendous growth till 2032. Factors such as focus on new communication networking technologies will become key growth drivers during the forecast period and companies prioritizing the health of their employees is also said to be supporting the market globally, however, the growth projected for the forecast period could be affected by lack of vehicles for small satellites which could negatively affect activities taking place across the market. New tax laws and aversion to privatization of the space sector is another challenge the market could face till 2032.

Market Segmentation

The mobile satellite services market is segregated into different market segments based on sales channel, type, and applications. For a comprehensive analysis of the market, the sales channel, type, and applications segments are further split into smaller segments. The sales channel segment is categorized into offline and online. Furthermore, based on type, the global market is also segmented into Land MSS, Aeronautical MSS, Broadband MSS, Maritime MSS and Personal MSS. Based on the market segmentation analysis, the report covers market forecasts. On the basis of applications, the global market is split into subsegments including military & defense, aviation, oil & gas, media & entertainment, transportation & automotive, government, mining and others.

The development of vaccines will support the market growth from 2022 to 2030. As per the market research report, the global market for mobile satellite services is anticipated to grow at a healthy rate across all the sales channel, type, and applications segments. However, the presence of active threats such as time taken for approvals could hamper the market growth. Business activities across space and aviation have also been examined and studied by space and aviation industry’s experienced analysts. The mobile satellite services market research report covers findings with predictions and forecasts till 2030.

Regional Overview

The mobile satellite services market, with its product and service related segments, is spread across the world. Space and aviation based regional markets are also covered in the market research report. The regional markets are Asia-Pacific, Europe, North America, the Middle East and Africa and the rest of the world. Interoperability across is anticipated to be a major factor for growth across the space and aviation space during the forecast period. The regional market in North America is classified as the United States, Mexico, Canada, and others. The space and aviation sector based regional markets in Europe are split into Italy, Germany, France, and the United Kingdom. In the Asia Pacific region, the market is segmented into China, India, Japan, and others. Space and aviation based businesses in these regional markets are anticipated to grow due to natural disasters during the forecast period 2022 to 2030. Although  the market’s growth could be affected by lack of policies for small and medium enterprises. The analysts have also segmented markets of the Middle East, Africa, and the rest of the world.

Competitive Landscape

space and aviation based organizations are profiled in the market research report. The mobile satellite services market along with companies and segments have been studied. The analysis of space and aviation based business is also done to identify key challenges and strengths of these companies. The global mobile satellite services market research report covers SWOT analysis, Porter’s Five Force analysis of major space and aviation related organizations. The strategy and other key details of these companies for the forecast period 2022 to 2030 are covered in the report. Satellites being integrated in emergency response systems are anticipated to support the market growth as the market is set to grow at a CAGR of 7.45% and reach a value of US$8.52 billion by 2030.

Industry News

New Providence, a special purpose investment corporation, recently announced that it would take next-generation satellite broadband specialist AST & Science public in a SPAC contract, giving the space company an equity valuation of $1.8 billion. When the transaction completes, which is expected in the first quarter of next year, AST will be listed on the Nasdaq under the ticker symbol ASTS. The SPAC of New Providence is now trading under the symbol NPA. A $230 million private placement fund led by AST's current partners and joined by UBS O'Connor was also secured as part of the transaction. New Providence's SPAC was revealed in September 2019, with a public offering raising $230 million.