Maritime VSAT revenues are set to grow by more than 13.7% to 2021 according to a new report. Technavio’s analysts forecast the global market will grow at a compounded annual growth rate of 13.74% during that period.
They highlighted that VSAT market growth was driven by multiple industry trends including an increasing need for VSAT on fishing vessels and ships involved in maritime surveillance.
Technavio also identified improving maritime domain awareness, anti-piracy and commodity tracking as key drivers for installing more maritime VSAT services. Crew welfare requirements and ship monitoring are also drivers. There will also be growth from the rising levels of passenger connectivity on cruise ships in the next three years.
“Adoption of maritime VSAT equipment among marine vehicles is rising rapidly,” analysts said in the report. “The major customers for this market are government agencies and commercial markets such as oil and gas companies.”
Technavio’s report covers growth prospects of the global maritime VSAT market to 2021. Its analysts calculated the market size by considering the revenue generated from services including installing and maintaining maritime VSAT terminals.
This is across frequency bands of Ka, Ku and C-band, plus L-band as VSAT back-up. Analysts also considered growth in availability of high-throughput satellites to oil and gas companies, government organisations and vessel operators.
Technavio’s report, Global Maritime VSAT Market 2017-2021, includes a discussion of the key vendors operating in this market including:
- Hughes Network Systems
- KVH Industries
- VT iDirect
- Comtech Telecommunications
- Emerging Markets Communications
Maritime digitalisation trends and increasing requests for onboard social media are accelerating demand for VSAT on vessels, according to consultants at Euroconsult.
Demand is also driven by ship managers and owners who are upgrading satellite communications on fleets of ships to improve connectivity for operational use, systems monitoring and crew welfare.