LATAM VSAT Maritime Antenna Market Size Forecast to Reach $220 Million by 2026
Increasing need for data communication is Driving the Growth of LATAM VSAT Maritime Antenna Market.
LATAM VSAT Maritime Antenna Market is anticipated to reach $220 million by 2026 with a CAGR of 13.2% in the forecast period 2021-2026. Increasing demand from passengers, as well as regulatory pressure on communications and crew welfare are major factors pushing maritime operators to install new generation satellite systems on their vessels. In addition, decreasing prices for capacity and terminals encourage increased VSAT services adoption. In addition, High throughput satellite (HTS) capacity is rising fast and is expected to grow even faster in the forecast period, as new operators enter the market.
Hardware, such as receiving antennas and modems, is also evolving rapidly integrating technology such as block upconverter, orthomode transducer and low-noise block downconverter. Smaller, lighter, and more efficient antenna systems are gaining traction as the LATAM VSAT Maritime Antenna industry constantly evolves and finds new applications in satellite news gathering, digital audio broadcasting. Moreover, rise in adoption of VSAT Block up Converters (BUCS) for all military and commercial satellite applications such as satellite news gathering and digital audio broadcasting among others is also accelerating the LATAM VSAT Maritime Antenna market size in the forecast period 2021-2026.
LATAM VSAT Maritime Antenna Market Segment Analysis - By Band
Ka-band in LATAM VSAT Maritime Antenna Market is anticipated to grow at a CAGR of 16.1% in the forecast period 2021-2026. As this band provides increased spectrum compared to C-band and Ku-band by enabling greater volumes of traffic to be transmitted, the adoption is rising. Many industries are deploying Ka-band owing to its smaller antennas (VSATs), increased mobility and higher bandwidths and speeds along with integration of block upconverter, orthomode transducer and low-noise block downconverter.technologies. Owing to these advantages several companies have been launching these Ka-band services.
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LATAM VSAT Maritime Antenna Market Segment Analysis - By Application
IP-based applications are expected to grow at a highest CAGR of 17.5% during the forecast period. The adoption of IP-based applications is a common trend witnessed in the global Maritime VSAT Antenna market. As organizations are turning into bigger enterprises and experiencing growth, the need for IP based applications for better management of logistics with real time reporting is also rising.
For instance, the iDirect system involves a very efficient form of time division multiple access (TDMA), called multi-frequency (MF), which allows several ships to share the same inbound protocol capacity. This protocol is known for its dynamic nature, guarantees fast response time, and is designed to meet a variety of service level agreements (SLAs). Hence these benefits are analysed to drive the market in the forecast period 2021-2026.
LATAM VSAT Maritime Antenna Market Segment Analysis - By Geography
Mexico dominated the LATAM VSAT Maritime Antenna market by a market share of more than 35% in 2020, as it is a developed economy whose GDP is majorly dependent on the manufacturing sector including transportation, marine sector and so on. The market for VSAT antenna is increasing owing to the rapid adoption and deployment of low cost cloud solutions as well as network and satellite communications for shipping and offshore industry. Moreover rising support from the government of the region in the form of investments and initiatives for developing marine sector is also enhancing the market growth in the forecast period 2021-2026.
LATAM VSAT Maritime Antenna Market Drivers
Adoption of Modern technologies
Adoption of VSAT owing to its improved communication reliability and efficiency is growing rapidly in the forecast period. VSAT technology is widely adopted by naval forces and coastal security due to its enhanced characteristics such as easy installation, cheaper cost and smaller size. Moreover high security solutions provided by VSAT technology to protect from seaborne threats and obstructions is also driving the end user to deploy this technology. Hence these benefits are analyzed to drive the market in the forecast period 2021-2026.
The increasing need for data communication in the marine industry
With the increase in sophistication and need of reliable data communications across remote marine regions, the scope of maritime antenna systems has increased. The growing communication needs of ships, vessels, rigs, and naval sector to maintain operational efficiency, on-board security as well as employee and passenger safety has resulted in increasing demand for bandwidth and data communication terminals. Moreover, maritime VSAT Antenna has wide applications in maritime assistance, medical assistance, emergency calling, employee welfare, passenger assistance and enhanced maritime security, vehicle telemetry, and other remote services.
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LATAM VSAT Maritime Antenna Market Landscape
LATAM VSAT Maritime Antenna Market top 10 companies include Satpro M&C Tech Co.,Ltd, Intellian Technologies, Inc., Cobham Plc, Furuno Electric Co.,Ltd., Gilat Satellite Networks, Kns Inc. EchoStar Corporation, Viasat, Inc., Inmarsat Plc, Speedcast International, among others.
Mexico dominated the LATAM VSAT Maritime Antenna market by a market share of more than 35% in 2020, owing to rapid adoption and deployment of low cost cloud solutions, network and satellite communication for shipping and offshore industry.
Ka-band in LATAM VSAT Maritime Antenna Market is anticipated to grow at a high CAGR of 16.1% owing to the advantage of providing increased spectrum compared to C-band and Ku-band by enabling greater volumes of traffic to be transmitted.
The IP-based applications is expected to grow at a highest CAGR of 17.5% due to the adoption of IP-based applications for better management of logistics with real time reporting.
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