High Seas Broadband Boom: Maritime VSAT & L-Band Services Market Set to Soar by 2032
The global maritime VSAT and L-band services market is forecast to reach about $12.4 billion by 2032, with a roughly 8.5% CAGR from 2024 to 2032. In 2024, VSAT-based connectivity accounted for about 77% of maritime satcom revenue, while L-band MSS accounted for about 23%. The maritime VSAT market is projected to grow from about $3.46 billion in 2024 to $9.30 billion by 2032, a 14.6% CAGR for 2025–2032. Post-pandemic, total maritime satcom revenues fell by over 11% in 2020, then surged 42% in 2021 as demand rebounded and VSAT-equipped vessels rose from 28,350 in 2020 to 39,700 in 2021.