Valour Consultancy is due to release the 2022 edition of its flagship maritime report in the coming weeks. To whet your appetite for the The Future of Maritime Connectivity, the Valour team unveils a small sample of the headline statistics from this year’s research. This highlights how the market has evolved since we last published this report.
12 Maritime Connectivity Stats You Need to Know:
- In 2021, more than 39,700 vessels worldwide were VSAT-equipped, with the associated airtime revenues for those vessels estimated at $1,263 million.
- In addition, vessels with highspeed and voice L-band services totalled more than 47,300 and nearly 80,000 vessels on lowspeed/no voice services were active in 2021. Aggregated service charges reached $432 million in the same period.
- Combined annual revenues of VSAT and L-band amounted to $1,685 million in 2021, a 42% jump up from 2020.
Inmarsat had more than 11,500 vessels on its FX platform by the end of 2021 and Valour Consultancy projects a strong possibility this will reach more than 14,000 vessels globally by the end of 2022. Service providers operating as value-added resellers for the satellite operator are now installing more vessels than Inmarsat’s direct retail business, Inmarsat Solutions.
- Nevertheless, Marlink remains the largest service provider globally. Valour Consultancy estimates the service provider is now more than twice the revenue size of its nearest competitor and collects 27% of the global retail airtime revenues.
- As highlighted in our maritime tracker service, it is easy to ascertain the dominance Marlink plays across most of the verticals in vessel count; 22% in overall merchant, the same portion for containers, 25% in tankers, 20% in bulk carriers, and 21% in offshore energy
- Wholesale connectivity revenues for the maritime connectivity market were $1,214 million in 2021; Inmarsat leading the market with almost a third of the total market, followed by Intelsat and SES.
- Intelsat recorded the largest portion of VSAT wholesale revenues, with nearly 18% of the global maritime market.
The VSAT antenna systems market recorded a remarkable feat in 2021. The number of units shipped and activated globally increased by 70% from 2020, and the average selling price of antenna systems across the board increased to $15,873 per system, up from $11,998. This rebound in the hardware market was, in effect, the “perfect storm” of conditions. Extraordinary freight charges for shipping containers, rebounds in offshore energy, passenger, some shortages in components and big shifts in perceptions.
- As with the above point, one company came out on top. Intellian placed first in our VSAT antenna market share and generated roughly $108 million in VSAT antenna revenues. Detailed analysis for the company’s success will be noted in our report.
- Looking to the overall market, we continue to see optimistic signs for further growth throughout 2022 and we project nearly 45,500 vessels will have active VSAT systems onboard globally. Associated VSAT revenues could total nearly $1.5 billion this year.
- NGSO (MEO and LEO) projections have been included in our report. We start with a handful of active vessels in 2023 and highlight the potential for the new constellation to be a market opportunity of $1.9 billion over the forecast period which spans to the end of this decade.
Thanks for reading. The upcoming report update is the fourth edition of Valour Consultancy’s comprehensive dive into the maritime connectivity market. It builds on extensive data back to 2013. Interested? Complete the form below to receive a report information brochure.
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Maritime connectivity is a complex and intricate ecosystem of service providers, satellite operators, hardware vendors and integrators. Each play a pivotal role in supporting an array of different end-users. This report provides comprehensive analysis of the current and future market, split by stakeholder group.
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