According to the United Nations Conference on Trade and Development (UNCTAD), around 70% of the global trade by value and 80% of the global trade by volume are carried by sea and handled by ports. As a result, increasing maritime trade is boosting the growth of the maritime antennas market. Therefore, the global maritime antennas market is poised to grow at a CAGR of 6.67% during 2018-2023 and will achieve $536.617m by the end of 2023, as per the report of IndustryARC.
The report is titled, “Maritime Antennas Market: By Antenna Type (VHF, AIS, WI-FI, Cellular, SATCOM, Others); By Frequency (VHF, HF, MF, SHF, EHF); By End-User (Fishing, Merchant, Offshore, Others); and By Geography - Forecast (2018 - 2023).” The report offers an in-depth assessment of the competitive landscape, market drivers, operation analysis, market trends, future prospects, application analysis, product types, technological breakthroughs, industry verticals, implementation patterns, technological developments, mergers and acquisitions, market life cycle analysis, supply and demand analysis of the global maritime antennas market.
Maritime Antennas Market: Leading Segments
Based on end-user market, the global maritime antennas market is segregated into fishing vessels, merchant vessels, offshore vessels, naval vessels, and passenger vessels. Fishing vessel is identified as the leading segment in the global maritime antennas market and is anticipated to rise at a CAGR of 8.20% during the aforesaid forecast period. Large number of reservoirs reside in the Asian countries, with a major portion in China. Therefore, the high growth of the fishing vessels segment is attributed to the large number of fishing vessels shipment across Asia and Europe .
At present, Americas is the major region of the global maritime antennas market and had a maximum revenue of $105.132m in 2017. The high share of Americas is due to high penetration of SATCOM (Satellite Communications) antennas owing to their predominant military and aerospace sectors and high growth rate of passenger and naval vessels contribute to the maritime antennas market in Americas.
Maritime Antennas Market: Disruptive Trends and Growth Drivers
It is important to provide welfare and happiness to the crew to enhance its efficiency. To achieve these factors, reliable and cost-effective access to communication lines is provided. Vessels are embedded with antennas for connectivity. These connections allow the access to email, internet, and SMS text messaging. In addition, maritime antennas offer real-time weather reception, and safety alerts, track vessel location in compliance with Ship Security Alert Service (SSAS) regulations. These trends are promoted by International Telecommunications Union which are followed by the major market players of the maritime antennas industry.
Increasing demand for high speed internet access and digital capabilities by passengers have been observed. Maritime antennas such as Wi-Fi antennas, 4G antennas, and SATCOM antennas provide connectivity solutions. Cruise ship operators such as Royal Caribbean and Carnival are exploring new ways to offer on-board internet access and remote connectivity.
In recent years, the number of attacks on vessels by pirates has increased significantly, especially in the Gulf of Aden, Somali Basin, and the Indian Ocean. Antennas play a major role in enhancing safety and security of vessels. These vessels embedded with radar systems and monitoring systems which help to detect and track the targets.
Maritime Antennas Market: Competitive Landscape
Currently, the major players operating with a major share in the global maritime antennas market are Raymarine, Comrod Communication AS, Comtech Telecommunications Corp, Glomex S.R.L., KNS, Inc., Cobham plc, Inmarsat plc, Intellian Technologies, Inc., Orbit Communication System Ltd., Sat-Com Broadcast Limited, and others.
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