We recently released the latest installment of our Maritime Connectivity Tracker, including some new segmentations and features on Starlink, as well as 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 is designed to keep those with a vested interest in the area updated on installation activity, key trends and insight. This article lists the key headlines from this quarter.
(Source: Valour Consultancy’s Maritime Connectivity Tracker Update)
Key Headlines
- At present, we have collected 23,165 vessels actively using VSAT, an increase of 4,140 craft from the last edition in 2023.
- Marlink and Inmarsat Solutions held the biggest portions of our sample, with 5,691 and 4,901 vessels, respectively. Combined, both companies held 45.7% of the total share sample. We believe we have captured more than 70% of Marlink’s vessel customer base, and 65% of Inmarsat Solutions.
- Merchant accounted for 20,350 vessels, with splits in general merchant, container, bulk carriers and tankers. GEO VSAT airtime revenues associated with these merchant vessels amounted to $468 million annually, excluding hardware leasing and digital value-added services.
- From those service providers authorised by SpaceX to resell Starlink and other potential partners, we noted 3,944 vessels.
- Annualising those Starlink Maritime vessels over a 12-month basis, we believe Starlink Maritime, via its resellers, generate more than $300 million per year as of today.
- Marlink and Speedcast were the two biggest resellers of Starlink Maritime.
- In our sample, Intellian held the top spot in the VSAT equipment system market, with nearly 10,000 vessels*.
- KVH held the top spot in our general merchant market, with nearly 2,000 vessels in our sample. We collected more than 3,300 vessels for the service provider.
For more information about our maritime tracker service, please click here.
