“Prospects for Maritime Satellite Communications,” by Euroconsult, shows KVH with nearly double the market share of its nearest VSAT competitor
MIDDLETOWN, R.I., April 10, 2018 (GLOBE NEWSWIRE) -- Mobile tech innovator KVH Industries, Inc., (Nasdaq:KVHI), continued its #1 leadership position in the maritime VSAT market based on total number of units fielded, and increased its market share, according to a newly released report by Euroconsult, the leading global consulting firm specializing in space markets. “Prospects for Maritime Satellite Communications, 6th Edition” reports that KVH’s share of the industry’s fielded VSAT terminals is 31.2%, up from 26% in the previous report four years ago. In the new analysis, KVH’s market share in terms of number of VSAT terminals was reported to be nearly double that of its next closest competitor, as of the end of 2017.
“The demand for our VSAT products and our unique combination of hardware, service, and value-added content is driven by the digital transformation underway throughout the maritime industry,” says Martin Kits van Heyningen, co-founder and chief executive officer of KVH. “From the start, we have been committed to bringing excellent products and innovative solutions to the maritime market, and we continue to provide a level of service that attracts an ever-growing customer base.”
KVH recently introduced the TracPhone® V7-HTS, a 60 cm, Ku-band satellite antenna system, which achieves data download speeds of up to 10 Mbps, and upload speeds of up to 3 Mbps, globally to the maritime market. The system is designed to enable merchant fleets to take advantage of cloud-based software programs, remote system monitoring, and data analytics in the pursuit of digitalization.
The data speeds of the TracPhone V7-HTS are accomplished by a combination of KVH’s proprietary antenna system design and the new high throughput satellite (HTS) capabilities of KVH’s mini-VSAT Broadbandsm service, which utilizes the IntelsatOne Flex platform as well as additional capacity from SKY Perfect JSAT satellites.
Last year, KVH launched AgilePlans™, a new subscription-based Connectivity as a Service (CaaS) model for the commercial maritime sector. KVH’s all-inclusive, no-commitment AgilePlans CaaS offering includes, for one monthly fee: connectivity via the mini-VSAT Broadband satellite network; a TracPhone V-series satellite communications antenna with free installation; news and training content delivered via satellite; and delivery of chart and weather content.
KVH has a history of innovation in the maritime market, and launched its mini-VSAT Broadband network and first TracPhone V-series antenna system in 2007. In subsequent years, KVH added to the TracPhone V-series product line, which now includes the TracPhone V3-IP, a 37 cm, Ku-band maritime VSAT antenna and the TracPhone V11-IP, a 1 meter, C/Ku-band antenna, in addition to the TracPhone V7-HTS. The company has also expanded mini-VSAT Broadband coverage globally so that it today includes 272 million square kilometers and nearly all the world’s major shipping routes.
Note to Editors: For more information about KVH’s maritime communications solutions, please visit the AgilePlans website, kvh.com/agileplans. High-resolution images of KVH products are available at the KVH Press Room Image Library, kvh.com/press-room/image-library.
About KVH Industries, Inc.
KVH Industries, Inc., is a leading provider of innovative systems and solutions for the mobile connectivity and inertial navigation markets. The company has designed, manufactured, and sold more than 200,000 mobile satellite antennas for applications on vessels and vehicles. KVH is also a leading news, music, and entertainment content provider to many industries including maritime, retail, and leisure. Videotel™, a KVH company, is a market-leading provider of training films, computer-based training, and eLearning for the maritime industry. KVH is based in Middletown, RI, with research, development, and manufacturing operations in Middletown, RI, and Tinley Park, IL. The company’s global presence includes, amongst other locations, offices in Brazil, Cyprus, Denmark, Hong Kong, India, Japan, Norway, the Philippines, Singapore, and the United Kingdom.
This press release contains forward-looking statements that involve risks and uncertainties. For example, forward-looking statements include statements regarding the success of our new initiatives, our anticipated revenue, competitive positioning, profitability, and orders for products and services. Actual results could differ materially from the forward-looking statements made in this press release. Factors that might cause these differences include, but are not limited to: the uncertain duration of the adverse impact on our overall revenues of our new AgilePlans, under which we recognize no revenues for product sales, either at the time of shipment or over the contract term; increased costs arising from the new HTS network; the impact of recent changes in revenue recognition and lease accounting standards; potential reduced sales to companies in or dependent upon the turbulent oil and gas industry; the impact of extended economic weakness on the sale and use of marine vessels; the potential inability to increase or maintain our market share in the market for airtime services; the need to increase sales of the TracPhone V-IP and HTS series products and related services to maintain and improve airtime gross margins; the need for, or delays in, qualification of products to customer or regulatory standards; potential declines or changes in customer demand, due to economic, weather-related, seasonal, and other factors, particularly with respect to the TracPhone V-IP and HTS series, including with respect to new pricing models; recent increases in airtime termination rates and lower unit sales in our mobile business; increased price and service competition in the mobile connectivity market; and other international risks. These and other factors are discussed in more detail in our most recent Form 10-K filed with the SEC on March 2, 2018. Copies are available through our Investor Relations department and website, http://investors.kvh.com. We do not assume any obligation to update our forward-looking statements to reflect new information and developments.
KVH Industries, Inc. has used, registered, or applied to register its trademarks in the U.S.A. and other countries around the world, including but not limited to the following marks: KVH, TracPhone, mini-VSAT Broadband, AgilePlans, and Videotel. All other trademarks are the property of their respective companies.
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Media Relations & Industry Analyst Manager
KVH Industries, Inc.
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KVH Industries, Inc.