The satellite industry refers to the sector involved in the design, manufacturing, launching, and operation of satellites. This industry encompasses various applications including telecommunications, Earth observation, weather monitoring, navigation, and scientific research. Companies within the satellite industry produce different types of satellites, such as geostationary, low Earth orbit, and medium Earth orbit satellites, each serving specific purposes and functionalities. The industry also includes satellite launch services, which are provided by specialized companies that facilitate the deployment of satellites into their designated orbits. The satellite industry has grown significantly with advancements in technology, leading to an increase in the number of satellites being launched, including those for commercial use, government applications, and research initiatives. It plays a crucial role in modern communication systems, global positioning, disaster management, and environmental monitoring.
Executive Summary and Market Overview The global space industry is experiencing robust growth in the mid-2020s, driven by commercial innovation and rising government investment. In 2024, the global space economy reached an estimated $415 billion in revenue, up 4% from the previous year sia.org. Commercial satellite activities dominate, accounting for about $293 billion (71%) of this total sia.org. The number of…
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