Allied Market Research published a report, titled, “Mobile Satellite Phone Market by Type (LEO Satellite Phone and GEO Satellite Phone), by Application (Defense, Maritime, Aviation, Oil and Gas and Others): Global Opportunity Analysis and Industry Forecast, 2021-2031”. According to the report, the global mobile satellite phone industry generated $553.6 Million in 2021, and is anticipated to generate $808.5 Million by 2031, witnessing a CAGR of 3.9% from 2022 to 2031.
Prime Determinants of Growth
The growing requirement for worldwide connection in areas, such as marine, aviation, defense, and government and the rising usage of satellite phones during emergency situations are some factors expected to boost the growth of the global mobile satellite phone market during the forecast period.
