CAMBRIDGE, Mass., July 19, 2017 (GLOBE NEWSWIRE) -- NSR’s Maritime Satcom Markets, 5th Edition finds that satellite leasing revenues for the maritime VSAT mobility market are projected to exceed $1 Billion by 2026. With over $400M in leasing revenues in 2016 from FSS and HTS offerings, the steady roll-out of the ‘connected vessel’ over the next decade is being powered by falling capacity pricing.
“With broadband connected vessel growth outpacing addressable market growth, there are positive fundamentals within the Maritime satellite connectivity business,” states Brad Grady, Senior Analyst and Report Author. “However, these positives are also attracting additional upstream players, and ‘highly defensible’ verticals such as Offshore face macro-economic challenges. As Service Providers, Satellite Operators, and Hardware Manufacturers look for their ‘next big market’, players will increasingly find themselves competing against each other.” Dallas Kasaboski, Analyst at NSR and report co-author adds, “While the pool of connected vessels and addressable markets continue to grow, slimming margins, savvy end-users, and a pivot towards “Non-Bandwidth Services” will be the core challenges for incumbents and new market entrants alike over the next ten years.”
As satellite connectivity providers acquire new skills to capture additional value-added opportunities or leverage their capacity portfolios to capture new business opportunities, there are clear trends: double-digit per-vessel capacity growth over the next ten years across Merchant, Passenger, Offshore, Fishing and Leisure markets; nearly $3 Billion in additional retail revenue growth for MSS, HTS, and FSS satcom services; and an on-going shift towards emerging regions such as Asia-Pacific and the Indian Ocean.
On the footsteps of major consolidation in the Service Provider layer, and reorganization of Satellite Operator market approaches, the clear trend of lower maritime satellite connectivity unit costs has opened additional growth in the sector.
About the Report
NSR’s Maritime Satcom Markets, 5th Edition continues as a dedicated focus on the Maritime satcom markets, from opportunities in narrowband connectivity to the latest Non-GEO HTS capacity slated to launch. With new analysis from a vessel perspective on average revenues and provisioning, the report provides readers with the most complete overview on addressable maritime markets, vendor market share, pricing, revenues, and capacity demand for all maritime vertical segments. For additional information on this report, including a full table of contents, list of exhibits and executive summary, please visit www.nsr.com or call NSR at +1-617-674-7743.
About NSR
NSR is the leading global market research and consulting firm focused on the satellite and space sectors. NSR’s global team, unparalleled coverage and anticipation of trends with a higher degree of confidence and precision than the competition is the cornerstone of all NSR offerings. First to market coverage and a transparent, dependable approach sets NSR apart as the key provider of critical insight to the satellite and space industries. Contact us at info@nsr.com to discuss how we can assist your business.