Global Maritime Satellite Communications Market Prospects 2018: Merchant Shipping, Fishing, Passenger Ships, Leisure Vessels, and Offshore

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Mar 22, 2018, 10:00 ET

DUBLIN, March 22, 2018 /PRNewswire/ --

The "Prospects for Maritime Satellite Communications" report has been added to ResearchAndMarkets.com's offering.

Prospects for Maritime Satellite Communications provides an in-depth view of the sector dynamics, analysis and forecasts for the maritime satcom market. Five comprehensive sections give a detailed analysis of trends and prospects within the major addressable maritime market segments, including merchant shipping, fishing, passenger ships, leisure vessels, and offshore.

Highlights of the report

Satellite connectivity in the maritime market will face booming bandwidth requirements coming not only from bandwidth-hungry passengers and crew but also from the overall development of smart applications.

The total number of terminals used by the maritime satellite communications market experienced limited growth in 2017, with an increase of 0.7% year-over-year. However the VSAT market scored 18.8% growth in 2017, exceeding 23,000 terminals. Meanwhile the number of MSS terminals decreased by 0.4%, reaching 314,300 terminals. VSAT technology is starting to be taken up by the medium and small vessels market and this is gaining traction as operators are increasingly willing to migrate from MSS to VSAT solutions.

Increased demand from passengers (especially in the cruise and leisure segment), regulatory incentives on safety communications, crew and passenger appetite for enriched content, and newly developed concepts related to smart shipping are some of the major factors pushing maritime operators to install the latest generation of satellite systems on their vessels. Autonomous shipping, performance monitoring, fleet management and cyber-secure applications, brought by an increasing number of IoT-connected and sensing devices, will drive capacity demand in the next decade. For the maritime market, if all satellites are launched as planned, the total available HTS satellite capacity over oceanic regions will grow almost 10-fold from 2017 to 2020, to cater to the ever-growing demand. The hardware, such as receiving antennas and modems, is also evolving rapidly; smaller, lighter, and more efficient antenna systems are gaining tracting as the industry continues to evolve.

The author forecasts that the maritime satcom market (both MSS and VSAT) will grow to more than 500,000 terminals in 2027 as compared to 337,300 terminals in 2017. Total revenue for satellite operators should grow from $953 million in 2017 to $1.6 billion by 2027, a 10-year CAGR of 5.2%. The revenue for maritime service providers is estimated to grow from $1.8 billion in 2017 to $2.9 billion in 2027 with a 10-year CAGR of 5.3%.

Consolidation in the past several years has enabled leading VSAT service providers to gain market share and the five largest companies hold 90% of the market. Competitive pressure is increasing; the development of new VSAT terminal installation facilities and the democratization of the technology are lowering entry barriers for regional service providers, especially in the Asian and Middle East markets. Still, greater competition combined with the need to improve profit margins and leverage economies of scale will favor further integration and consolidation in the value chain.

Key Topics Covered:

1. STRATEGIC ISSUES & FORECASTS

The maritime satellite communications market in 2017
MSS: The legacy maritime services
VSAT: As a major growth driver for maritime communications
Large number of Ku- and Ka-band HTS capacity will come online
Growth drivers: Smart Ships
Growth drivers: Toward autonomous vessels
Challenges: Cyber-threats
Most of the shipping routes are now covered by satellite capacity
Market forecasts to 2027

2. MARKET DYNAMICS & VALUE CHAIN

The MSS and VSAT competition
The rise of HTS capacity over maritime regions
Inmarsat as the market leader
Role of service providers in the value chain
Service providers play a key role in the value chain
Average revenue per unit in the maritime market
Maritime VSAT service providers
Consolidation in the VSAT market
Equipment manufacturers
Regulations
Regulations acting as both a driver and an inhibitor

3. MERCHANT SHIPPING

Addressable market
Merchant shipping operators
World merchant vessel traffic
Addressable market evolution
Growth drivers - Crew welfare
Growth drivers - Smart Ship and automation
The largest maritime satcom market
Market forecasts

4. PASSENGER SHIPS

Addressable market
Cruise ships
Regulations
Satcom use on passenger ships
Solutions and service providers
Forecasts for the passenger ship market

5. LEISURE VESSELS

Addressable market
A seasonal market
A highly regional market
The charter market
Extremely demanding customers
Satcom technology evolution in the leisure segment
Regulations
Market forecasts

6. FISHING MARKET

Addressable market
Industrialized fishing vessels
Regulations
Satcom use in the fishing market
MSS solutions in the fishing market
VSAT solutions in the fishing market
Regulations play a key role in satcom development
Market drivers
Forecasts for the fishing market

7. OFFSHORE MARKET

Addressable market
Drilling rigs market
Offshore production platforms
Offshore vessels
Satcom usage in the offshore market
Satcom's strong competition from other technologies
Evolution of market consolidation in the offshore market
MSS and VSAT solutions in the offshore market
Forecasts for the offshore market

For more information about this report visit https://www.researchandmarkets.com/research/rg6kj5/global_maritime?w=5

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SOURCE Research and Markets