Satellite Industry Accounts for 74% of Global Space Economy August 11, 2020 Satellite is Essential false With all the renewed attention around space these days – from colonizing Mars to launching a new U.S. Space Force – it’s easy to lose sight of the scale and scope of the satellite industry. The latest “State of the Satellite Industry” Report from the Satellite Industry Association (SIA) shines a spotlight on this essential industry. Here are three facts from the annual study that offer some perspective on the impact of the satellite industry. 74% of space industry revenues worldwide – tallied well before the nascent LEO constellations have entered operation – comes from the satellite industry. Ground equipment accounts for nearly half of that (48%) – or $130.3B. Technology innovations in VSATs and gateways drove faster throughput speeds and data capacity, enabling new service capabilities and contributing to a 19% growth in revenue for the broadband industry. Tom Stroup, president of SIA, remarked: “Throughout 2019, technology innovation and lower costs of manufacturing and deploying satellites continued to increase the value proposition and the importance of the commercial satellite industry.” He added that the satellite industry is uniquely positioned to deliver “the truly ubiquitous, high quality and reliable communications” and other services in demand around the world—a fact on full display during the COVID-19 pandemic. To see a summary of the State of the Industry Report findings or to order the full report, visit the SIA website. Categories See All Connecting the Unconnected (49) Satellite is Essential (47) Company News (42) JUPITER System (29) HughesNet (25) HughesON Managed Networks (18) SD-WAN (16) Podcast (15) Community Wi-Fi (15) Emergency Communications (12) Interoperability (11) Cellular Backhaul (10) Mobility (8) Popular Blogs The Divide Podcast: The role of satellite broadband in closing the digital divideJul 22, 2021 SSPI Event Explores Tomorrow’s $1.3 Trillion Space EconomyMay 3, 2021 HughesNet Named Best Satellite Internet Service, Meets Increased Demand in More PlacesMay 7, 2021 Hughes India Enables Access to Vital Banking ServicesMay 11, 2021 OneWeb Gateways Require Complex Hughes Engineering May 19, 2021 Related Posts See All The Divide Podcast: The role of satellite broadband in closing the digital divide July 22, 2021 Defining Moments in Hughes 50 Year History July 23, 2021 How Hughes Fosters a Culture of Continuous Innovation July 23, 2021 SIA Report: Satellite Industry Leads Global Space Economy July 19, 2021 Upcoming 3GPP Release 17 to Include Satellite in Global 5G Standard June 22, 2021 ENJOY THIS POST? Provide your email below to receive a monthly round-up of what’s happening in the world of connectivity! First Name Last Name Email Company Campaign ID CAPTCHA This question is for testing whether or not you are a human visitor and to prevent automated spam submissions.