Satellite Phone Market is projected to grow with CAGR of 3.9% during the forecast period of 2017 to 2025.
Satellite phones are quite similar to the regular mobile phones with the major difference being that satphones are linked to the satellites orbiting in space instead of the cellular telephone sites on ground. Most people who need a satellite phone work, live, or travel to areas without traditional landline or cellular coverage. Since satellite phones do not rely on phone transmission lines or cellular towers, they are able to function in more remote locations such as deserts, oceans, and mountains. However, the advent of hybrid satellite telephones and increasing satellite launches are expected to offer lucrative opportunities to the market players.
The satellite phone market is majorly driven by natural disaster affected areas, terrorist attack, and rising acceptance among various end user sectors due to its increasing demand from power outage. However, in few countries, it is not legal to poses a satellite phone. Such regulations around the globe is expected to affect the market potential.
SATELLITE PHONE MARKET DETERMINANTS-IMPACT ANALYSIS, 2017 Vs. 2022
The global satellite phone market is segmented on the basis of type, application, and geography. On the basis of type, the market is segmented as Globalstar, Inmarsat, Iridium, Thuraya, and other. By application, the market is segmented as aerospace & defense, maritime, energy, government, and others. Geographically, the market is bifurcated as North America, China, Europe, Japan, India, and Southeast Asia.
GLOBAL SATELLITE PHONE MARKET REVENUE AND GROWTH RATE, 2017-2022
Some major market players of the satellite phone market are Iridium, Inmarsat, Globalstar, Thuraya, SPOT Global Phone, and NAVTEAM.
SATELLITE PHONE MARKET SEGMENTATION
• Aerospace & Defense
• North America
• Southeast Asia
Satellite Phone Market Key Players
• SPOT Global Phone