We recently released the year-end installment of data from our Maritime Connectivity Tracker, including some new findings on Starlink, and annualised revenues per service provider. This service supplements our flagship report on The Future of Maritime Connectivity.
Valour Consultancy runs this service on a quarterly basis, and it is designed to keep those with a vested interest in the area updated on installation activity, key trends and insight. This article lists some of the key headlines from this edition.
(Source: Valour Consultancy’s Maritime Connectivity Tracker Update)
Key Headlines
- As of November 2024, we have collected 31,300 vessels actively using GEO/MEO VSAT; an increase of ~4,000 vessels from the last quarter in 2023. The sample captured an estimated $850 million of GEO and MEO VSAT revenues.
- Fascinatingly, we also aggregated more than 22,400 vessels using Starlink’s LEO services, with more than 9,000 vessels using Starlink direct.
- Annualising those Starlink Maritime vessels over a 12-month basis, we believe Starlink Maritime, via its resellers, generates more than $378 million per year as of today.
- Valour Consultancy believes the tanker and passenger vessel categories were the two biggest revenue generators for the American LEO satellite service. Marlink and Speedcast were the two biggest resellers of Starlink Maritime.
- Examining the GEO VSAT segment, Marlink, Inmarsat Solutions and KVH held the top three positions accounting for 63% of the total sample of commercial vessels collected. Speedcast, Navarino, Satcom Global, Tototheo Global and NSSLGlobal were in the middle pack of maritime service providers.
- The container, tankers, bulk carriers and general merchant categories amount to $528 million in retail GEO VSAT service fees, over 27,600 vessels worldwide. General merchant was the largest category of our sample, with more than 8,100 vessels.
- In our sample, Intellian held the top spot in the VSAT equipment system market, with nearly 14,800 vessels. Cobham Satcom had slightly more than 11,200 vessels with its equipment onboard.
- KVH held the top position in our general merchant market, with nearly 2,200 vessels in our sample. We collected more than 8,000 vessels for the service provider.
- Inmarsat Solutions led our sample in the container merchant market, with nearly 1,619 vessels in our sample. We collected more than 4,980 vessels for the service provider.
- Marlink maintained at the top of the ladder for the tanker merchant market, with nearly 3,000 vessels in our sample. We collected more than 7,600 vessels for the service provider.
- Additionally, Inmarsat Solutions was the leading service provider in the bulk merchant market, with nearly 1,800 vessels in our sample. We collected nearly 7,000 980 vessels for the service provider.
- Speedcast held the top position in our offshore market, with more than 800 vessels/assets in our sample. We collected more than 2,740 vessels for the service provider.
For more information about our maritime tracker service and to request a free demo, please click here.
