Satellites Market Report 2025

The satellites market size has grown strongly in recent years. It will grow from $25.01 billion in 2024 to $26.4 billion in 2025 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to increasing investments in satellites, launch of advanced low earth orbit satellites, and increase in technology development.

The satellites market size is expected to see steady growth in the next few years. It will grow to $31.56 billion in 2029 at a compound annual growth rate (CAGR) of 4.6%. The growth in the forecast period can be attributed to increasing adoption of low earth orbit satellites in various sectors, increasing use of lightweight materials, robust government support, growing demand for telecommunication, and increasing investments. Major trends in the forecast period include small satellites systems, use of artificial intelligence, use of 3D printing, growing advancement in payload systems, focus on advanced ground systems and strategic collaborations and acquisitions.

During the forecast period, the surge in demand for Direct-To-Home (DTH) television services has played a pivotal role in propelling the growth of the satellite market. DTH service, a form of digital satellite service, efficiently delivers satellite television programming directly to a subscriber's home. According to the Telecom Regulatory Authority of India (TRAI) Quarterly Indicator Report, the total active subscriber base of Pay DTH witnessed an increase from 65.58 million in September 2022 to 66.62 million in December 2022, reflecting the escalating demand for DTH services. Given that DTH services utilize wireless technology, television programs are transmitted directly from the satellite to the subscriber's television, contributing to the increased demand for satellites and thereby generating revenue for the global satellites market.

The expanding space industry is expected to drive growth in the satellite market in the coming years. The space industry encompasses economic activities related to the manufacturing of components intended for outer space (Earth’s orbit or beyond), their delivery to those regions, and associated services. It is continuously developing and launching satellites for various purposes, including communications, Earth observation, navigation, and scientific research. This growth in the space industry has resulted in advancements in satellite technology, increased connectivity, improved data collection, and enhanced navigation systems. For example, in 2023, The Space Report by Space Foundation, a US-based organization, noted that the global space economy reached a record high of $570 billion, marking a 7.4% increase from the revised 2022 figure of $531 billion. Therefore, the expanding space industry is driving the growth of the satellite market.

The satellites market is witnessing a rise in the popularity of hybrid Direct-To-Home (DTH) set-top boxes. The emergence of hybrid set-top boxes is a result of DTH operators seeking to bring online content to television screens. An illustration of this trend is evident in the April 2023 launch by Bharti Airtel Limited, an India-based telecommunications services company, of the X-stream Hybrid Android set-top box. The Airtel Xstream Box with Android 10 offers an affordable streaming device with the latest features, including Chromecast functionality, enabling users to cast content from their smartphones or tablets to their TVs.

Leading companies in the satellite market are strategically incorporating earth observation satellites into their offerings to gain a competitive advantage. Earth observation satellites are specifically designed for observing the Earth from orbit, capturing data on the Earth's surface, atmosphere, oceans, and various phenomena such as weather patterns, natural disasters, climate change, and human activities. In November 2022, the Indian Space Research Organization (ISRO) launched the Earth Observation Satellite-6 (EOS-6), the third-generation Indian satellite dedicated to monitoring the oceans. EOS-6 features three ocean observation sensors, the Ku-Band scatterometer (SCAT-3), the Sea Surface Temperature Monitor (SSTM), and the Ocean Color Monitor (OCM-3). These sensors provide crucial data, including ocean surface temperature, high-resolution wind vectors, and information on ocean color. The EOS-6 satellite contributes valuable insights for applications ranging from fishery forecasts to coral reef health monitoring and cyclone tracking.

In May 2023, Viasat Inc., a U.S.-based communications company, acquired Inmarsat for an undisclosed amount. This strategic acquisition enhances Viasat's scale and capabilities, positioning the company for continued growth in the dynamic and competitive satellite communications industry. Inmarsat, a UK-based satellite telecommunications company, adds significant resources and expertise to Viasat's portfolio.

Major companies operating in the satellites market include Lockheed Martin Corporation, The Boeing Company, Thales Group, Airbus SE, Northrop Grumman Corporation, OHB SE, Israel Aerospace Industries Ltd, ST Engineering, NanoAvionics, Gomspace, Beijing Commsat Technology Development Co., Ltd, Avasarala Technologies Limited, Speedcast International Limited, One Space Tech, Land Space Technology Corporation Ltd, ExPace Technology Corporation, Skyroot Aerospace, Gilmour Space Technologies, Deep Blue Aerospace, Mitsubishi Heavy Industries, China Aerospace Science and Technology Corporation (CASC), Honeywell International Inc, Telespazio SpA, Raytheon, AAC Microtec, Thales Alenia Space, Surrey Satellite Technology Ltd, EnduroSat, AAC Clyde Space, Space Exploration Technologies Corp (SpaceX), Viasat Inc, Telesat, Starlink Satellite Constellation, OneWeb, Hughes Network Systems, Innova Space, ARSAT, Satellogic, Al Yah Satellite Communications (YAHSAT), Arabsat, Es'hailSat, QSAT, Saman Satellite Communications, DragonFly Aerospace, Eureka Geo, XinaBox, Simera Sense.

Asia-Pacific was the largest region in the satellites market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global satellites market share during the forecast period. The regions covered in the satellites market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the satellites market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

A satellite is an artificial object positioned in orbit around the Earth or another celestial body for the purpose of data collection or communication. Essential components of a satellite include a communications system, a power system, and a propulsion system.

Satellites are categorized into various types, including large satellites, mini satellites, nano satellites, and micro satellites. Large satellites are characterized by significant physical size and mass compared to their smaller counterparts. Different types of orbits, such as low Earth orbit (LEO), medium Earth orbit (MEO), geosynchronous orbit (GEO), and elliptical orbit (EL), serve diverse purposes in scientific research, technology demonstration and verification, earth observation and remote sensing, communication, and other applications. The end users involved in satellite utilization encompass commercial, civil, government, and various other sectors.

The satellites market research report is one of a series of new reports that provides satellites market statistics, including satellites industry global market size, regional shares, competitors with a satellites market share, detailed satellites market segments, market trends and opportunities, and any further data you may need to thrive in the satellites industry. This satellites market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.

The satellites market consists of sales of satellite systems with solar panels or radioisotope thermoelectric generators used for space applications. The market includes maintenance services provided by aerospace support and auxiliary equipment manufacturers during the equipment’s warranty period. Values in this market are factory gate values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

This product will be delivered within 3-5 business days.