Historic Number of Launches Powers Commercial Satellite Industry Growth – Satellite Industry Association Releases the 28th Annual State of the Satellite Industry Report

Satellite Industry Highlights include:

During the year, a historic number of 259 launches deployed a record 2,172 tons and 2,695 satellites into Earth orbit with U.S. launch market share increasing to 65%
In 2024, the global space economy expanded by 4 percent with the commercial satellite industry accounting for 71 percent of the world’s space business.
Satellite manufacturing revenue increased by 17 percent with U.S. market share increasing to 69 percent – a whopping increase of 50 percent over 2023
American space leadership continued with U.S. firms building 83 percent of the commercial satellites launched during the year.
Satellite broadband revenue grew by 29 percent while emerging markets helped increase subscribers by 46 percent.
Remote sensing revenue grew by 9 percent over 2023 powered by new capabilities and services offered by approximately 800 remote sensing satellites
Connected devices continued to dominate ground services with continued strong market interest in direct to device services as deployments of D2D networks have begun with beta testing and initial emergency services

Washington, D.C., May 13, 2025 – The Satellite Industry Association (SIA) today announced the release of its 28th annual State of the Satellite Industry Report (SSIR), a global summary of the commercial satellite industry. During 2024, the industry continued to grow at an unprecedented rate as a record number of 259 launches deployed a historic 2,172 tons and 2,695 satellites into Earth orbit. At the end of 2024, a total of 11,539 satellites were operating in Earth orbit compared with just 3,371 in 2020.

Other key takeaways from the 2025 Report:

During 2024, the overall global space economy grew by 4 percent, generating revenue of $415 billion. The commercial satellite industry continued to be dominant, increasing to $293 billion and accounting for 71 percent of the world’s space business.
Satellite Manufacturing – Global satellite manufacturing revenues grew to $20 billion in 2024, an increase of 17 percent over 2023. During the year, U.S. firms earned 69% of global manufacturing revenues.
Launch Services – A total of 259 launches (including 224 commercially procured) were conducted in 2024 and worldwide commercial launch revenues increased to $9.3 billion, an increase of 30 percent compared with 2023.
Satellite Services – Satellite broadband revenue increased by 29 percent while subscriptions increased by 46 percent during 2024. Combined with a 9 percent increase in remote sensing revenues, satellite services revenue totaled $108.3 billion during 2024.
Satellite Ground Segment – Continued growth in global navigation satellite services (GNSS) and network equipment helped generate revenue of more than $155.3 billion in 2024, an increase of 3 percent over the previous year.
Space Sustainability Activities – Commercial satellite sustainability activities generated significant revenue during the year, and this accounted for approximately $350 million in revenue during 2024, an estimated increase of nearly 17 percent.

“The commercial satellite industry’s record growth and overall momentum continued in 2024 with a historic number of launches deploying nearly 2700 satellites into orbit,” said Tom Stroup, president of the Satellite Industry Association. “That means there are more than ten thousand additional satellites operating in orbit compared to less than a decade ago – providing vital services to hundreds of millions of Americans and billions of consumers around the globe each day.”

Mr. Stroup added, “U.S. domination of the industry continued in 2024. American companies owned 65 percent market share of launch revenue, built 83 percent of the commercial satellites launched during the year and accounted for 69 percent of the global manufacturing revenue. At the end of 2024, American companies wholly or partially operated more than 70 percent of the total number of satellites circling the globe. SIA is proud to continue to represent and advocate on behalf of the domestic satellite industry and we look forward to continuing to work with U.S lawmakers and regulators to help ensure America’s continued domination of the global space economy.”

For more than a quarter of a century, SIA has published the leading analysis of the satellite industry’s economic performance. Produced by BryceTech, the 2025 SSIR derives from proprietary surveys of satellite companies, in-depth public information, and independent analysis, combined to assess the performance of sectors including satellite services, manufacturing, ground equipment and launch services.

To view the executive summary slide of this year’s SIA State of the Satellite Industry Report, please click HERE. All SIA members receive a complimentary copy of the annual report. For all others who wish to purchase a copy of the complete report or for more information, please visit the SSIR website page HERE or contact SIA via email at info@sia.org.

About The Satellite Industry Association
SIA is a U.S.-based trade association providing representation of the leading satellite operators, service providers, manufacturers, launch services providers, and ground equipment suppliers. For more than two decades, SIA has advocated on behalf of the U.S. satellite industry on policy, regulatory, and legislative issues affecting the satellite business. For more information, visit www.sia.org.

SIA Executive Members include: Amazon; Comtech; DIRECTV; EchoStar Corporation; Eutelsat Group; HawkEye 360; Intelsat S.A.; Iridium Communications Inc.; Kratos Defense & Security Solutions; Ligado Networks; Lockheed Martin Corporation; Planet Labs PBC; SES Americom, Inc.; Spire Global Inc.; and Viasat Inc. SIA Associate Members include: The Aerospace Corporation; Artel, LLC; AST Space Mobile; Astranis Space Technologies Corp.; The Boeing Company; Eutelsat America Corp + OneWeb Technologies; ExoAnalytic Solutions; Integrasys LLC; Kinematics; Kymeta Corporation; Omnispace; Ovzon; Panasonic Avionics Corporation; Skyloom and Telesat. SIA Affiliate Members include: AvL Technologies; COMSAT; Cooley LLP; DLA Piper; Globalstar; Greenberg Traurig LLP; Hon Hai Technology Group (Foxconn); Hogan Lovells; Jenner & Block; Keysight Technologies, Inc.; Media Broadcast Satellite; Orbital Research; Peraton; Plexus Corp; Quadsat; Sheppard Mullin; Wiley; Xairos Systems Inc., and XTAR, LLC.

Media and PR Contact: Dean Hirasawa
Satellite Industry Association
Email: dhirasawa@sia.org
Endeavour Communications