Satellite Market Analysis

Global Satellite Market Overview

Satellite Market Size was valued at USD 4.23 billion in 2023.  The Satellite market industry is projected to grow from USD 4.7799 Billion in 2024 to USD 11.26 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 11.30% during the forecast period (2024 - 2032). Televisions us growth of video distribution and internet access, as well as a surge in demand for digital television, are the key market drivers boosting the market growth.

Source Secondary Research, Primary Research, MRFR Database and Analyst Review

Satellite Market Trends

The rise in demand for direct-to-home (DTH) television services is driving the market growth.

The rise in demand for Direct-To-Home (DTH) television services has contributed significantly to the expansion of the satellite market.  DTH services deliver high-quality digital television content directly to households via satellite receiver, eliminating the need for cable infrastructure.  This has resulted in considerable growth in DTH subscribers, particularly in less wealthy countries with limited cable infrastructure.  As the demand for DTH services has grown, so has the demand for satellite capacity to deliver these services.  This has resulted in increasing investment in satellite technology and infrastructure, which has driven the growth of the satellite market.  Furthermore, the satellite market has benefited from technological improvements, such as creating high-throughput satellites (HTS), which may deliver greater bandwidth and coverage at cheaper costs.  These improvements have made it easier for satellite operators to deliver various services, such as DTH television, broadband internet, and remote sensing, driving the satellite market forward.

The utilization of 3D-printed satellite parts can minimize the overall cost of the satellite.  Material features of 3D printed components include lightweight properties, the capacity to work at high temperatures, great reliability, compatibility, and high strength.  These features have the potential to reduce manufacturing costs significantly.  Furthermore, the aerospace and defense industries are employing 3D-printed parts for a variety of purposes, which can help the space industry flourish because numerous subsystems can be obtained at a reasonable cost from these companies.  Airbus Defense and Space manufactures satellite components using EOS-based technology.  Using 3D-printed parts saves roughly 20% on the cost of the product.  These characteristics have the potential to increase the market's overall efficiency.

As many IoT devices are placed in remote or inaccessible places where traditional connectivity is unavailable, the need for satellite connectivity has increased significantly.  Satellites can give IoT devices worldwide coverage and connectivity for applications such as asset tracking, environmental monitoring, and precision agriculture.

LEO satellites have emerged as a prominent trend in the satellite industry, propelled by firms such as SpaceX, OneWeb, and Amazon's Project Kuiper.  LEO satellites fly at a lower altitude than standard geostationary satellites, resulting in shorter latency and greater bandwidth.  These satellites are used to provide broadband internet and other services, and they can potentially change how users access the internet.

Satellite Market Segment Insights

Satellite Type Insights

The Satellite market segmentation, based on type, includes Nanosatellite, Micro Satellite, Mini Satellite, and Large Satellite.  The Nanosatellite segment is expected to dominate the Satellite market during the forecast period.  Nanosatellites have transformed the satellite industry by providing a low-cost and accessible means of reaching space, allowing small businesses, educational institutions, and developing countries to launch their own spacecraft and undertake space-based research and services.  Nanosatellites are used for communication applications such as providing access to remote places, connecting Internet of Things (IoT) devices, and enabling satellite phone services.

The Micro Satellite segment is expected to be the fastest-growing segment of the Satellite market during the forecast period.  Microsatellites are utilized in military and defense applications such as surveillance, reconnaissance, and communication.  Microsatellites are used in space exploration to perform space missions and to observe other planets and celestial bodies.

Figure 1: Satellite Market by Type, 2022 & 2032 (USD billion)

Source Secondary Research, Primary Research, MRFR Database and Analyst Review

Satellite Application Insights

The Satellite market segmentation, based on application, includes Earth Observation and Remote Sensing, Scientific Research, Communication, Direct Broadcast, Mapping and Navigation, Weather Forecasting, and Surveillance and Security. The Earth Observation and Remote Sensing segment is expected to hold the largest market shares during the forecast period.  The increasing use of earth observation satellites in a range of economic sectors, as well as the integration of digital data analysis and geospatial data fusion, have all contributed to market value growth.

The mapping and navigation segment is expected to be the fastest-growing segment of the Satellite market during the forecast period.  Satellites are widely used for mapping and navigation, delivering precise and real-time data for various applications.  GPS navigation satellites provide the exact location and time data for various applications, including aviation, maritime, and land transportation.

Satellite End User Insights

The Satellite market segmentation, based on end users, includes Military Defense and Commercial. The commercial segment is expected to hold the largest market shares during the forecast period.  This expansion can be ascribed to increased demand for satellite navigation, commercial satellite images, and satellite television.

Amazonia-1 and 18 co-passenger spacecraft were launched by India's Polar Satellite Launch Vehicle PSLV-C51 in February 2021. Amazonia-1 is an earth observation satellite operated by the National Institute for Space Research (INPE).  It will supply users with remote sensing data for the study of diverse agriculture across the Brazilian territory as well as monitoring deforestation in the Amazon region.

Satellite Regional Insights

By region, the study offers market insights into North America, Europe, Asia-Pacific and the Rest of the World.  The Asia-Pacific region is expected to lead the Satellite market throughout the forecast period.  The rising use of satellite antennas in the communications, IT, aerospace, and automotive industries is driving the regional market's growth throughout the forecast period.

Furthermore, the major countries covered in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: SATELLITE MARKET SHARE BY REGION 2022 (%)

Source Secondary Research, Primary Research, MRFR Database and Analyst Review

The North American Satellite market is expected to hold the second-largest market share during the forecast period.  The United States government's increased investment in the space sector and significant players such as Lockheed Martin Corporation, Northrop Grumman, L3Harris Technologies, Inc., Boeing, and others drive the industry across the region.  Further, the U.S. Satellite market held the largest market share, and the Canada Satellite market was the fastest-growing market in the North American region.

Europe Satellite Market is expected to grow at the fastest CAGR from 2023 to 2032.  Increased spending on space exploration missions by the United Kingdom, Germany, France, and other European governments promotes market growth across Europe during the forecast period.  Russia launched its first Arctic monitoring satellite, the Arktika-M-satellite, in February 2021.  It is intended to monitor the Arctic's climate and ecosystem.  Moreover, the German Satellite market held the largest market share, and the UK Satellite market was the fastest-growing market in the European region.

Satellite Key Market Players & Competitive Insights

The major market players are investing heavily in R&D to expand their product lines, which will aid in expanding the Satellite market.  New product launches, contractual agreements, mergers and acquisitions, increased investment, and collaboration with other organizations are all examples of significant market developments.  The satellite sector must develop cost-effective commodities to prosper and thrive in a more competitive and dynamic market.

Manufacturing locally to reduce operational costs is a significant business technique used by manufacturers in the Satellite industry to serve clients and expand the market sector.  The satellite business has recently undergone some of the most rapid growth.  Major Key players in the Satellite market, including Airbus SAS (Netherlands), Ball Corporation (US), Boeing (US), Eutelsat Communications SA (France), Intelsat (Luxembourg), Israel Aerospace Industries Ltd (Israel), and others, are trying to surge market demand by spending in research and development operations.

Airbus is the world's leading aeronautics, space, and related services provider.  Airbus has the most extensive line of passenger aircraft.  Airbus is also a European leader in tanker, combat, transport, and mission aircraft and a world leader in space.  Airbus produces the most efficient civil and military rotorcraft systems in the world.  Airbus is an international aerospace pioneer and a innovator in designing, manufacturing, and delivering aerospace goods, services, and solutions to customers.  In June 2021, Airbus Defence and Space completed and sent the EUTELSAT QUANTUM satellite to its base in Kourou, French Guiana, for launch by Ariane 5.  This advancement will revolutionize the commercial satellite industry because of its high customization and flexibility in inter-orbital maneuvers and the expansion of supply services due to unparalleled in-orbit reconfigurability in power, coverage, and frequency.

By providing integrated solutions and predictive technology, Lockheed Martin helps businesses keep ahead of new threats.  Lockheed Martin, based in Bethesda, Maryland, is a security and aerospace company that specializes in the research, design, development, production, integration, and upkeep of high-tech systems, products, and services.  Lockheed Martin was granted a USD 4.9 billion contract in January 2021 to develop improved missile warning satellites for the United States Space Force.  The satellites will monitor Earth from geosynchronous orbit, 22,000 miles (36,000 km) above the Earth.

Key Companies in the Satellite market include.

• Airbus SAS (Netherlands)


• Ball Corporation (US)


• Boeing (US)


• Eutelsat Communications SA (France)


• Intelsat (Luxembourg)


• Israel Aerospace Industries Ltd (Israel)


• Lockheed Martin Corporation (US)


• Northrop Grumman Corporation(US)


• Safran (France)


• SES SA (Luxembourg)


• Space Exploration Technologies Corp (US)


• Space Systems/Loral, LLC (US)


• Thales Group (France)


• Viasat, Inc. (US)


• Sierra Nevada Corporation (US)


• L3 Harris Technologies (US)

Satellite Industry Developments

For Instance, June 2021 Airbus Defence and Space has completed and sent the EUTELSAT QUANTUM satellite to its base in Kourou, French Guiana, for launch by Ariane 5.  This advancement will revolutionize the commercial satellite industry because of its high customization and flexibility in inter-orbital maneuvers and the expansion of supply services due to unparalleled in-orbit reconfigurability in power, coverage, and frequency.

For Instance, January 2021 Lockheed Martin has been awarded a USD 4.9 billion contract to create upgraded missile warning satellites for the United States Space Force.  The satellites will monitor Earth from geosynchronous orbit, 22,000 miles (36,000 km) above the Earth.

Satellite Market Segmentation

Satellite Type Outlook

• Nanosatellite


• Micro Satellite


• Mini Satellite


• Large Satellite

• Earth Observation and Remote Sensing


• Scientific Research


• Communication


• Direct Broadcast


• Mapping and Navigation


• Weather Forecasting


• Surveillance and Security

• Military and Defense


• Commercial

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America