NSR’s report on the maritime satellite market, suggests that equipment manufacturers, fishing, and leisure markets can expect $42Bn in retail revenue between 2018 and 2028 as a direct result of satellite communications and connectivity technologies with VSAT-enabled and digitalised vessels growing from 20,000 in 2018 to over 75,000 by 2028.
The maritime satcom connectivity market has never looked more promising, thanks to the “right combination of price, end user requirements and connectivity demand”. NSR’s ‘Maritime Satcom Markets 7th Edition’ report, published last month, also says that VSAT-enabled maritime vessels are estimated to grow in number…
According to the NSR Maritime SATCOM Markets, 5th Edition, more than 14,000 vessels are currently connected using a broadband VSAT connection, and this number is projected to rise to more than 37,000 vessels by 2026. In other words, we expect significant continued growth ahead in the maritime satcom industry.
The Maritime Satellite Communications market is at a crossroad; more capacity is available in all frequencies and orbits thanks to Iridium’s recently launched Certus plans, VSAT terminals are getting lighter and cheaper, and end-users continue to find value in some flavor of higher throughput connectivity.
The right combination of price, end-user requirements, and connectivity demand is having a significant impact on the market.