DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/jp9xdn/global_satellite) has announced the addition of the "Global Satellite Communication Market in the Oil and Gas Industry 2014-2018" report to their offering.
The analysts forecast the Global Satellite Communication market in the Oil and Gas industry to grow at a CAGR of 5.74 percent over the period 2013-2018. One of the key factors contributing to this market growth is the challenging environment of oil and gas rigs. The Global Satellite Communication market in the Oil and Gas industry has also been witnessing the use of satellite communication for the ultra-deep water exploration. However, the increasing adoption of fiber optics connectivity could pose a challenge to the growth of this market.
The key vendors dominating this market space are Harris CapRock Communications Inc., Inmarsat plc., KVH Industries Inc., RigNet Inc., and Vizada Inc.
Other vendors mentioned in the report are APT Satellite Company Ltd., C-Com Satellite Systems Inc., DTS Inc., Hermes Datacommunications International Ltd., Hughes Satellite Systems Corp., ITC Global, Inc., Orange Business Services, Singapore Telecommunications Ltd., STM Group, Inc., and Telespazio SpA.
Commenting on the report, an analyst from the team said: Currently, almost 135 UDW rigs are being operated in the Atlantic Ocean. The number of UDW rigs is expected to reach 220-230 units by 2018. Geographically, these rigs will be placed in very risky offshore locations such as in the Indian Ocean, the Pacific Ocean nearer to China, and the Atlantic Ocean nearer to Canada and Greenland. UDW is a very complex exploration process that requires very high safety as well as efficient operational performance. In addition, it requires a large amount of integrated real-time process automation associated with high risks. Hence, UDW rigs require highly reliable broadband networks. Further, as the UDW market is expanding, there is a need for robust and remote communication services in new areas. Thus, satellite communication for UDW exploration is an emerging trend that is expected to propel the growth of the market.
According to the report, one of the main drivers in this market is the challenging environment of oil and gas rigs. Most of the oil and gas exploration and drilling works are carried out in remote places such as deserts, where the temperature shifts from -10 degrees Celsius to almost 50 degrees Celsius; offshore oil and gas drilling rigs, where wind, rain, and waves make for an incredibly hostile workplace; and deep-water oil and gas exploration, where the depth plays a hostile environment.
For more information visit http://www.researchandmarkets.com/research/jp9xdn/global_satellite
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