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Marine Navigation and Communication System Market Outlook – 2027
Marine navigation and communication system is defined as a navigation and communication tool equipped with GPS navigator and SATCOM. Marine navigation & communication system displays high quality satellite imaging and it provides navigation chart for better navigation. In addition, it provides naval equipment and instruments, which are essential for underwater navigation and inter-bodies communication. It helps to standardize maritime reporting and it increase safety & security.
COVID-19 scenario analysis
Owing to the lockdown implemented across various countries, national and international transport have been hampered, which has significantly impacted the supply chain of marine navigation and communication systems across the globe, thereby increasing the supply–demand gap. Thus, insufficiency in raw material supply is expected to hamper the production rate of these systems, which negatively impacts the market growth. However, this situation is expected to improve as government has started relaxing norms around the world for resuming business activities. In addition, the manufacturing processes for marine navigation and communication systems has significantly dropped down due to COVID-19 implications. This is attributed to production shutdown and disrupted supply chains, thus hitting global operations and revenue of the market.
Top impacting factors: market scenario analysis, trends, drivers, and impact analysis
Increase in demand for broadband connections and VSAT connectivity
With the increasing availability of satellite services offering Ku-band or Ka-band for VSAT, the demand for broadband connections and greater bandwidth is increasing. In addition, the demand growth is driven by crew welfare, seafarers, and passengers using their own devices on ships and the increasing appetite for operational data processing and analysis. Moreover, lower satellite capacity pricing is paving the way for the adoption of broadband VSAT. The demand for data is continuously growing as satellite operators are increasing their capacity for maritime markets. With more supply pushing bandwidth costs lower, end users are responding by ramping up their demand for VSAT connectivity across all segments, including merchant, passenger, offshore (oil and gas), and fishing. These factors collectively driving the market growth.
The global marine navigation and communication system market trends are as follows:
The ongoing R&D toward the development of advanced maritime technologies
The ongoing R&D toward the development of advanced maritime technologies, such as stealth submarines and unmanned marine systems, is envisioned to inspire the potential investments in the development and induction of sophisticated navigation systems. In addition, owing to the increase in worldwide concerns toward naval security, leading market players are escalating their expenditure toward the development of maritime navigation and communication systems. These factors collectively fuel the market growth.
Lack of reliability and flexibility of satellite communication
With the increasing usage of technologies in maritime satellite, customers are finding difficulties in operating satellite solutions. Occasionally , maritime satellite vendors fail to provide reliable communication solutions; as a result, communication equipment and services do not perform effectively under unfavorable weather conditions. Thus, satellite communication service providers face challenge to provide reliable communication to their customers irrespective of the weather conditions. This, in turn, is expected to hamper the market growth.
Key benefits of the report
Questions answered in the marine navigation and communication system market research report:
Key Market Segments
Key Market Players