Sky Is No Limit: Global Satcom Market Set to Soar Through 2035
In 2024 the global space economy reached $415 billion, with commercial satellite activities totaling about $293 billion (71%). The number of active satellites rose from about 3,300 in 2020 to over 11,500 by end-2024 due to mega-constellations. SpaceX and OneWeb have joined traditional players like Airbus, Boeing, Lockheed Martin, Thales Alenia, Intelsat, SES, Eutelsat, and Inmarsat, intensifying competition. By 2035 the global satcom market could exceed $500 billion, more than 5× its 2024 size. The satellite internet access market is forecast to grow from $14.6 billion in 2024 to $312.3 billion by 2035, a ~32% CAGR, driven by Starlink and