...quickly grown to become the world's leading maritime VSAT network, according to a new industry research report from Euroconsult, a leading international research and analysis firm specializing in the satellite and space sectors. In "Maritime Telecom Solutions by Satellite, Global Market Analysis & Forecasts," Euroconsult estimates at the end of 2011, KVH's mini-VSAT Broadband service accounted for 16 percent of an estimated market of just under 9,000 activated maritime VSAT terminals. KVH's market share was reported to be 20 percent higher than the next closest competitor.
To date, more than 2,000 KVH TracPhone® systems have been shipped for the mini-VSAT Broadband service, which KVH believes is far more than any other maritime VSAT solution. KVH reported in its 2011 year-end investor conference call that its maritime VSAT revenues grew by more than 60 percent in 2011. Euroconsult estimates the overall maritime VSAT market has grown at a rate of 15 percent per year since 2008, and that by the end of 2021 maritime VSAT services will account for 55 percent of a $1.7 billion maritime communications market.
