Record Setting Growth Highlights Commercial Satellite Industry as it Continues to Dominate Expanding Global Space Business – SIA Releases 26th Annual State of the Satellite Industry Report

Satellite Industry Highlights include:

In 2022, a record number of satellites were deployed.
The global space industry successfully conducted a record number of launches.
Technological innovation drove lower costs and increased utility plus new capabilities.
Satellite manufacturing, ground equipment and launch revenues all increased in 2022.
Satellite broadband revenue grew by 18 percent with space-based connectivity subscribers increasing by 28 percent.
Satellite remote sensing expanded with enhanced services while revenue grew by 8 percent.
Connected devices continued to dominate ground services with 7 billion satellite-enabled global smartphones now in use.

Washington, D.C., June 20, 2023 – The Satellite Industry Association (SIA) today announced the release of its 26^th annual State of the Satellite Industry Report (SSIR), a global summary of the commercial satellite industry. For a fifth consecutive year, the commercial satellite industry launched a record number of commercial satellites into orbit. A total of 2,325 commercial satellites were deployed during 2022, an increase of over 35 percent compared to the previous year, while the space industry once again conducted the most launches (161) in history. By the end of 2022, a total of 7,316 active satellites circled the earth, an increase of approximately 51 percent over 2021 and 321 percent over the past five years.

Other takeaways from the 2023 Report include:

During 2022, the overall global space economy generated revenue of $384 billion.
The commercial satellite industry continued to be dominant, increasing to $281 billion and accounting for more than 73 percent of the world’s space business.
Satellite Manufacturing – thanks to continued innovation, satellite capability and lower manufacturing costs, satellite manufacturing revenue grew to $15.8 billion in 2022 an increase of more than 15 percent compared with 2021.
Launch Services – once again affordability and innovations led to increased launch activities and a historic high number of global launches (161) in 2022. Global launch revenues were $7.0 billion in 2022, an increase of 23 percent compared to 2021.
Satellite Services – increasing satellite broadband subscriptions and revenue along with satellite radio and remote sensing revenue growth combined to help generate a total of $113.3 billion in satellite services revenue during 2022.
Satellite Ground Segment – This sector generated revenue of more than $145 billion in 2022. There are now over 7 billion satellite-enabled global smartphones in use while broadband terminals and additional global navigation satellite system (GNSS) terminals continued to increase.

“Led by American leadership in satellite manufacturing and launch services, the global commercial satellite industry continued to grow while dominating the expanding worldwide space economy,” said Tom Stoup, president of the Satellite Industry Association. “Thanks to domestic innovation, U.S. market share in manufacturing and launch services increased with American firms earning 64 percent of global satellite manufacturing revenues while building 87 percent of the commercially procured satellites launched in 2022.”

Mr. Stroup added, “Over the past half decade, costs to manufacture and launch satellites have decreased while utility has increased – all leading to record growth, increased affordability, productivity, and new markets. New broadband connectivity, direct to device communication, on-orbit mission extension/servicing, debris capture and removal and enhanced remote sensing are just some of the new services that are bolstering an expanding satellite industry.”

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 2023 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 or via telephone at 202.503.1560.

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; The Boeing Company; DIRECTV; EchoStar Corporation; HawkEye 360; Intelsat S.A.; Iridium Communications Inc.; Kratos Defense & Security Solutions; Ligado Networks; Lockheed Martin Corporation; Northrop Grumman; OneWeb; Planet Labs PBC; SES Americom, Inc.; Spire Global Inc.; and Viasat Inc. SIA Associate Members include: ABS US Corp.; The Aerospace Corporation; Artel, LLC; AST Space Mobile; Astranis Space Technologies Corp.; Aurora Insight; Blue Origin; Comtech; Eutelsat America Corp.; ExoAnalytic Solutions; Inmarsat, Inc.; Kymeta Corporation; Leonardo; Lynk; Omnispace; OneWeb Technologies; Ovzon; Panasonic Avionics Corporation; Skyloom; Telesat Canada; ULA and XTAR, LLC. SIA Affiliate Members include: ARA; ATG; DLA Piper; EVONA; Genus Group; Hogan Lovells; Integrasys LLC; Kencast; Keysight Technologies, Inc.; Media Broadcast Satellite; Orange Business Services; Orbital Research; Peraton; Plexus Corp; SD Government; Sheppard Mullin and Wiley