Analysts at BryceTech have examined 2024 data on behalf of the Satellite Industry Association (SIA) to provide a snapshot of the satellite sector’s role in the global space economy. In 2024, the satellite industry accounted for $293 billion, or 71 per cent of the $415 billion global space economy.

Bryce’s highlights show that as of 2024, satellite industry revenues include:
· $155.3 billion from ground equipment (GNSS navigation, consumer, and network)
· $108.3 billion from satellite services (consumer and enterprise)
· $20 billion from satellite manufacturing
· $9.3 billion from launch services

Global satellite industry revenue grew 3 per cent in 2024. Driven by growth in most segments, offset by decline in video (Excluding video, the industry grew 6 per cent). The overall Consumer segment generated some $85.2 billion made up of Satellite TV (DTH), Satellite Radio (DARS services such as SiriusXM) and satellite end-user broadband.

While few expect the DTH portion to grow, the ‘satellite end-user broadband’ portion is predicted to grow, and perhaps significantly thanks to the likes of Starlink and its rival broadband suppliers such as Project Kuiper.

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Tags: BryceTech, satellite