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.