The Satellite Industry Association (SIA) released its 25th annual State of the Satellite Industry Report, a study of the satellite industry performance. The report, produced by Bryce Tech, provides an overview of 2021 activity derived from proprietary surveys, in-depth public information, and independent analysis.
Highlights from the report:
- Global revenue of the satellite industry totaled $279 billion USD in 2021, 72% of the space economy.
- A record number of satellites were launched into space in 2021, driven by the deployments of LEO broadband constellations.
- Satellite industry revenue increased 3% in 2021, driven by growth across all segments.
- Technology innovations drove the deployment of more capable, lower-cost satellites, faster throughput speeds, and increased Satcom capacity.
- The availability and quality of commercial satellite imagery improved along with an increase in provider options.
- Satellite ground equipment revenues also increased, driven by GNSS hardware.
- Launches are becoming more affordable with increased launch activity, launch choices, and rideshare opportunities.
- The U.S. continues to lead the industry in both satellite manufacturing and launch service revenues.
- Satellite servicing is gaining momentum: second commercial life extension mission launched in 2020. Increasing use of innovative post-launch deployment services.