What is TS ?

Transport stream(TS, TP, MPEG-TS, or M2T) is a communications protocol for audio, video, and data which is specified in MPEG-2 Part 1, Systems (ISO/IEC standard 13818-1). Its design goal is to allow multiplexing of digital video and audio and to synchronize the output. Transport stream offers features for error correction for transportation over unreliable media, and is used in broadcast applications such as DVB and ATSC. It is contrasted with program stream, designed for more reliable media such as DVDs.

TS format is a container format that encapsulates packetized elementary streams and other data.

Important elements of a transport stream: Packet, PID, Programs, Program Specific Information (PSI) , 1 PAT , PMT , PCR , Null packets

How to play TS files on Mac?

You need media player to play TS files on Mac OS X:
VLC media player is a highly portable multimedia player for various audio and video formats (MPEG-1, MPEG-2, MPEG-4, DivX, MP3, ogg, ...) as well as DVDs, VCDs, and various streaming protocols. It can also be used as a server to stream in unicast or multicast in IPv4 or IPv6 on a high-bandwidth network. It supports Mac, linux, Windows.