The Future of Maritime Connectivity: Headline Statistics From 2024

Valour Consultancy released the 2024 edition of its flagship maritime report last month. To whet your appetite for “The Future of Maritime Connectivity – 2024”, the Valour maritime team unveils a small sample of the headline statistics.

12 Maritime Connectivity Stats You Need to Know:

The “Battle of the Networks” is well on its way. In 2023, the total maritime satellite connectivity retail market was worth $2,090 million. An extraordinary jump from 2021.
Valour Consultancy estimates more than 20,000 vessels were using Starlink’s maritime service by the end of 2023.
Delving into the details of the dataset; the total L-band market was worth $465 million in 2023. The safety element of the MSS market accounted for just under half of these revenues, with roughly 78,000 vessels with active subscriptions around the world. In the same year, there were roughly 46,000 vessels worldwide subscribing to L-band broadband speed (>100 Kbps) and voice.
In our analysis, we have 186,522 vessels with satellite subscriptions. The reality is that the majority of GEO VSAT service vessels will also be using high-speed and voice L-band services, and the plethora of new LEO vessels in 2023 will be on the GEO VSAT vessels, too.
It would be wise for the reader to note the total market as a “layered cake.”
GEO VSAT market: the total global number of vessels has levelled off around 42,000 vessels as of the end of 2022 and 2023. We have likely seen the peak of the GEO VSAT commerciality unless something terrible befalls the LEO operators. Some service providers have reported their GEO VSAT spending dropping by 30-50% in 2023.
Valour predicts that the number of vessels subscribing to LEO services will surpass GEO VSAT by the end of 2026.
The merchant application remains the largest user of satellite services among all the segments under review: fishing, leisure, offshore energy, and passenger. Depending on which data classification depository the user reviews, the addressable market is approximately 90,000 commercial merchant vessels globally.
At the end of 2023, 92,100 vessels used satellite services, with connectivity revenues around $1.1 billion.
Offshore energy and passenger are the two most lucrative applications on a vessel basis.
1. Providing connectivity to FPSOs or semisubmersibles is very lucrative, and companies such as Viasat Energy Services, Speedcast, and Marlink have made significant sales providing connectivity and bundled services to these assets.
2. Passenger vessels: the big ocean cruise vessels will take whatever connectivity they can get. Some of the biggest ships spend more than $100,000 per month on GEO, LEO, MEO, MSS, and cellular connectivity. A number of ferry operators around the world who previously only relied on cellular, or radiolink are now deep in trials of using Starlink.
The GEO VSAT parabolic system market was worth $259 million in 2023.
Marlink, Speedcast, Inmarsat Solutions and SpaceX (via direct business) accounted for >50% of the retail maritime connectivity services in 2023. Inmarsat Maritime held nearly 30% of the wholesale maritime satellite connectivity services, with SpaceX in second spot. Intellian Technologies held the largest portion of maritime connectivity hardware revenues in 2023.
Inmarsat Maritime launched its new hybrid bonded connectivity service, NexusWave, in September 2024. The premise of this new service is combining all the available connectivity services of LEO (via Eutelsat OneWeb), GEO Ka-band from its FX service, L-band from its FBB, and cellular services (from Tampnet or other mobile operators) in a bonded network service.

The 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. 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.

Interested in purchasing a copy? Complete this form to access our report information brochure, which contains:

Report overview, scope and methodology
Sample tables and market segmentations
Key questions answered and pricing information

12 Maritime Connectivity Stats You Need to Know:

WHAT OUR CLIENTS SAY

“Valour Consultancy’s research and analysis pertaining to in-flight connectivity adoption is excellent. It helps us understand how the market is expected to grow in the future, and predict whether airlines will aim to launch IFC services on its fleet.”

“The new report on aircraft seating and in-seat power systems provides a very comprehensive market and industry landscape information – the first of its kind containing that level of detail.”

“The Future of Aircraft Seating and In-Seat Power report came at a pivotal time for us as we look to the future of our in-flight offering. It has helped shape our internal strategies and highlighted areas we need to dig into more deeply. Valour has become a trusted resource and partner.”

“The Future of Aircraft Seating and In-Seat Power report came at a pivotal time for us as we look to the future of our in-flight offering. It has helped shape our internal strategies and highlighted areas we need to dig into more deeply. Valour has become a trusted resource and partner.”

“Valour’s maritime connectivity report provides the most comprehensive, detailed understanding of the market, with clear independent insights into the market trends and inhibitors. We use this report as the bible for our business strategy and marketing on what is happening in the industry.”

“Valour Consultancy’s report on The Future of Body Worn Cameras and Systems is well written, detailed and an excellent insight into the key markets. The analysis of the global law enforcement market was extensive and provided us with valuable industry information of this evolving market.”

“In a global market as dynamic as in-flight connectivity, Valour has established itself as a reliable source of market intelligence and insightful analysis. The team is responsive to requests and clearly engaged in improving an already impressive product.”

“The team around Valour Consultancy equips us with the value-added intelligence needed to make well-informed business decisions in a very dynamic market. The passion and knowledge of the team make it a real pleasure to work with them.”

“Astronics is using Valour Consultancy’s 2016 in-flight connectivity report extensively. We’ve found it highly useful in our long-range planning and it has aided in our market research.”

“The Valour Consultancy report on in-flight connectivity provides very detailed insights on the market and it constitutes a very useful tool for the marketing and strategy team at SITAONAIR. The Valour Consultancy team is also very friendly and we enjoy our working relationship with them.”

“Valour Consultancy has provided an incredibly thorough perspective on the in-flight connectivity space, offering insight into drivers of the current and future state of the quickly growing category.”

The Future of Maritime Connectivity: Headline Statistics From 2024

12 Maritime Connectivity Stats You Need to Know:

Related Posts

“Valour Consultancy’s research and analysis pertaining to in-flight connectivity adoption is excellent. It helps us understand how the market is expected to grow in the future, and predict whether airlines will aim to launch IFC services on its fleet.”

“The new report on aircraft seating and in-seat power systems provides a very comprehensive market and industry landscape information – the first of its kind containing that level of detail.”

“The Future of Aircraft Seating and In-Seat Power report came at a pivotal time for us as we look to the future of our in-flight offering. It has helped shape our internal strategies and highlighted areas we need to dig into more deeply. Valour has become a trusted resource and partner.”

“The Future of Aircraft Seating and In-Seat Power report came at a pivotal time for us as we look to the future of our in-flight offering. It has helped shape our internal strategies and highlighted areas we need to dig into more deeply. Valour has become a trusted resource and partner.”

“Valour’s maritime connectivity report provides the most comprehensive, detailed understanding of the market, with clear independent insights into the market trends and inhibitors. We use this report as the bible for our business strategy and marketing on what is happening in the industry.”

“Valour Consultancy’s report on The Future of Body Worn Cameras and Systems is well written, detailed and an excellent insight into the key markets. The analysis of the global law enforcement market was extensive and provided us with valuable industry information of this evolving market.”

“In a global market as dynamic as in-flight connectivity, Valour has established itself as a reliable source of market intelligence and insightful analysis. The team is responsive to requests and clearly engaged in improving an already impressive product.”

“The team around Valour Consultancy equips us with the value-added intelligence needed to make well-informed business decisions in a very dynamic market. The passion and knowledge of the team make it a real pleasure to work with them.”

“Astronics is using Valour Consultancy’s 2016 in-flight connectivity report extensively. We’ve found it highly useful in our long-range planning and it has aided in our market research.”

“The Valour Consultancy report on in-flight connectivity provides very detailed insights on the market and it constitutes a very useful tool for the marketing and strategy team at SITAONAIR. The Valour Consultancy team is also very friendly and we enjoy our working relationship with them.”

“Valour Consultancy has provided an incredibly thorough perspective on the in-flight connectivity space, offering insight into drivers of the current and future state of the quickly growing category.”