Satellite Market Research Report - Global Forecast till 2032

Satellite Market Research Report Information By Type (Nanosatellite, Micro Satellite, Mini Satellite, And Large Satellite), By Application (Earth Observation and Remote Sensing, Scientific Research, Communication, Direct Broadcast, Mapping and Navigation, Weather Forecasting, And Surveillance and Security), By End User (Military and Defense And Commercial) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032.

ID: MRFR/A&D/6553-HCR | 133 Pages | Author: Swapnil Palwe | June 2023         

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Global Satellite Market Overview


Satellite Market Size was valued at USD 3.75 billion in 2022.  The Satellite market industry is projected to grow from USD 4.23 Billion in 2023 to USD 11.26 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 13.00% during the forecast period (2023 - 2032). Televisions us growth of video distribution and internet access, as well as a surge in demand for digital television, are the key market drivers boosting the market growth.


Satellite Market Overview


Source Secondary Research, Primary Research, MRFR Database and Analyst Review


Satellite Market Trends


The rise in demand for direct-to-home (DTH) television services is driving the market growth.


The rise in demand for Direct-To-Home (DTH) television services has contributed significantly to the expansion of the satellite market.  DTH services deliver high-quality digital television content directly to households via satellite receiver, eliminating the need for cable infrastructure.  This has resulted in considerable growth in DTH subscribers, particularly in less wealthy countries with limited cable infrastructure.  As the demand for DTH services has grown, so has the demand for satellite capacity to deliver these services.  This has resulted in increasing investment in satellite technology and infrastructure, which has driven the growth of the satellite market.  Furthermore, the satellite market has benefited from technological improvements, such as creating high-throughput satellites (HTS), which may deliver greater bandwidth and coverage at cheaper costs.  These improvements have made it easier for satellite operators to deliver various services, such as DTH television, broadband internet, and remote sensing, driving the satellite market forward.


The utilization of 3D-printed satellite parts can minimize the overall cost of the satellite.  Material features of 3D printed components include lightweight properties, the capacity to work at high temperatures, great reliability, compatibility, and high strength.  These features have the potential to reduce manufacturing costs significantly.  Furthermore, the aerospace and defense industries are employing 3D-printed parts for a variety of purposes, which can help the space industry flourish because numerous subsystems can be obtained at a reasonable cost from these companies.  Airbus Defense and Space manufactures satellite components using EOS-based technology.  Using 3D-printed parts saves roughly 20% on the cost of the product.  These characteristics have the potential to increase the market's overall efficiency.


As many IoT devices are placed in remote or inaccessible places where traditional connectivity is unavailable, the need for satellite connectivity has increased significantly.  Satellites can give IoT devices worldwide coverage and connectivity for applications such as asset tracking, environmental monitoring, and precision agriculture.


LEO satellites have emerged as a prominent trend in the satellite industry, propelled by firms such as SpaceX, OneWeb, and Amazon's Project Kuiper.  LEO satellites fly at a lower altitude than standard geostationary satellites, resulting in shorter latency and greater bandwidth.  These satellites are used to provide broadband internet and other services, and they can potentially change how users access the internet.


Satellite Market Segment Insights


Satellite Type Insights


The Satellite market segmentation, based on type, includes Nanosatellite, Micro Satellite, Mini Satellite, and Large Satellite.  The Nanosatellite segment is expected to dominate the Satellite market during the forecast period.  Nanosatellites have transformed the satellite industry by providing a low-cost and accessible means of reaching space, allowing small businesses, educational institutions, and developing countries to launch their own spacecraft and undertake space-based research and services.  Nanosatellites are used for communication applications such as providing access to remote places, connecting Internet of Things (IoT) devices, and enabling satellite phone services.


The Micro Satellite segment is expected to be the fastest-growing segment of the Satellite market during the forecast period.  Microsatellites are utilized in military and defense applications such as surveillance, reconnaissance, and communication.  Microsatellites are used in space exploration to perform space missions and to observe other planets and celestial bodies.


Figure 1: Satellite Market by Type, 2022 & 2032 (USD billion)


Satellite Market by Type, 2022 & 2032


Source Secondary Research, Primary Research, MRFR Database and Analyst Review


Satellite Application Insights


The Satellite market segmentation, based on application, includes Earth Observation and Remote Sensing, Scientific Research, Communication, Direct Broadcast, Mapping and Navigation, Weather Forecasting, and Surveillance and Security. The Earth Observation and Remote Sensing segment is expected to hold the largest market shares during the forecast period.  The increasing use of earth observation satellites in a range of economic sectors, as well as the integration of digital data analysis and geospatial data fusion, have all contributed to market value growth.


The mapping and navigation segment is expected to be the fastest-growing segment of the Satellite market during the forecast period.  Satellites are widely used for mapping and navigation, delivering precise and real-time data for various applications.  GPS navigation satellites provide the exact location and time data for various applications, including aviation, maritime, and land transportation.


Satellite End User Insights


The Satellite market segmentation, based on end users, includes Military Defense and Commercial. The commercial segment is expected to hold the largest market shares during the forecast period.  This expansion can be ascribed to increased demand for satellite navigation, commercial satellite images, and satellite television.


Amazonia-1 and 18 co-passenger spacecraft were launched by India's Polar Satellite Launch Vehicle PSLV-C51 in February 2021. Amazonia-1 is an earth observation satellite operated by the National Institute for Space Research (INPE).  It will supply users with remote sensing data for the study of diverse agriculture across the Brazilian territory as well as monitoring deforestation in the Amazon region.


Satellite Regional Insights


By region, the study offers market insights into North America, Europe, Asia-Pacific and the Rest of the World.  The Asia-Pacific region is expected to lead the Satellite market throughout the forecast period.  The rising use of satellite antennas in the communications, IT, aerospace, and automotive industries is driving the regional market's growth throughout the forecast period.


Furthermore, the major countries covered in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.


Figure 2: SATELLITE MARKET SHARE BY REGION 2022 (%)


SATELLITE MARKET SHARE BY REGION 2022


Source Secondary Research, Primary Research, MRFR Database and Analyst Review


The North American Satellite market is expected to hold the second-largest market share during the forecast period.  The United States government's increased investment in the space sector and significant players such as Lockheed Martin Corporation, Northrop Grumman, L3Harris Technologies, Inc., Boeing, and others drive the industry across the region.  Further, the U.S. Satellite market held the largest market share, and the Canada Satellite market was the fastest-growing market in the North American region.


Europe Satellite Market is expected to grow at the fastest CAGR from 2023 to 2032.  Increased spending on space exploration missions by the United Kingdom, Germany, France, and other European governments promotes market growth across Europe during the forecast period.  Russia launched its first Arctic monitoring satellite, the Arktika-M-satellite, in February 2021.  It is intended to monitor the Arctic's climate and ecosystem.  Moreover, the German Satellite market held the largest market share, and the UK Satellite market was the fastest-growing market in the European region.


Satellite Key Market Players & Competitive Insights


The major market players are investing heavily in R&D to expand their product lines, which will aid in expanding the Satellite market.  New product launches, contractual agreements, mergers and acquisitions, increased investment, and collaboration with other organizations are all examples of significant market developments.  The satellite sector must develop cost-effective commodities to prosper and thrive in a more competitive and dynamic market.


Manufacturing locally to reduce operational costs is a significant business technique used by manufacturers in the Satellite industry to serve clients and expand the market sector.  The satellite business has recently undergone some of the most rapid growth.  Major Key players in the Satellite market, including Airbus SAS (Netherlands), Ball Corporation (US), Boeing (US), Eutelsat Communications SA (France), Intelsat (Luxembourg), Israel Aerospace Industries Ltd (Israel), and others, are trying to surge market demand by spending in research and development operations.


Airbus is the world's leading aeronautics, space, and related services provider.  Airbus has the most extensive line of passenger aircraft.  Airbus is also a European leader in tanker, combat, transport, and mission aircraft and a world leader in space.  Airbus produces the most efficient civil and military rotorcraft systems in the world.  Airbus is an international aerospace pioneer and a innovator in designing, manufacturing, and delivering aerospace goods, services, and solutions to customers.  In June 2021, Airbus Defence and Space completed and sent the EUTELSAT QUANTUM satellite to its base in Kourou, French Guiana, for launch by Ariane 5.  This advancement will revolutionize the commercial satellite industry because of its high customization and flexibility in inter-orbital maneuvers and the expansion of supply services due to unparalleled in-orbit reconfigurability in power, coverage, and frequency.


By providing integrated solutions and predictive technology, Lockheed Martin helps businesses keep ahead of new threats.  Lockheed Martin, based in Bethesda, Maryland, is a security and aerospace company that specializes in the research, design, development, production, integration, and upkeep of high-tech systems, products, and services.  Lockheed Martin was granted a USD 4.9 billion contract in January 2021 to develop improved missile warning satellites for the United States Space Force.  The satellites will monitor Earth from geosynchronous orbit, 22,000 miles (36,000 km) above the Earth.


Key Companies in the Satellite market include.



  • Airbus SAS (Netherlands)

  • Ball Corporation (US)

  • Boeing (US)

  • Eutelsat Communications SA (France)

  • Intelsat (Luxembourg)

  • Israel Aerospace Industries Ltd (Israel)

  • Lockheed Martin Corporation (US)

  • Northrop Grumman Corporation(US)

  • Safran (France)

  • SES SA (Luxembourg)

  • Space Exploration Technologies Corp (US)

  • Space Systems/Loral, LLC (US)

  • Thales Group (France)

  • Viasat, Inc. (US)

  • Sierra Nevada Corporation (US)

  • L3 Harris Technologies (US)


Satellite Industry Developments


For Instance, June 2021 Airbus Defence and Space has completed and sent the EUTELSAT QUANTUM satellite to its base in Kourou, French Guiana, for launch by Ariane 5.  This advancement will revolutionize the commercial satellite industry because of its high customization and flexibility in inter-orbital maneuvers and the expansion of supply services due to unparalleled in-orbit reconfigurability in power, coverage, and frequency.


For Instance, January 2021 Lockheed Martin has been awarded a USD 4.9 billion contract to create upgraded missile warning satellites for the United States Space Force.  The satellites will monitor Earth from geosynchronous orbit, 22,000 miles (36,000 km) above the Earth.


Satellite Market Segmentation


Satellite Type Outlook



  • Nanosatellite

  • Micro Satellite

  • Mini Satellite

  • Large Satellite


Satellite Application Outlook

  • Earth Observation and Remote Sensing

  • Scientific Research

  • Communication

  • Direct Broadcast

  • Mapping and Navigation

  • Weather Forecasting

  • Surveillance and Security


Satellite End User Outlook

  • Military and Defense

  • Commercial


Satellite Regional Outlook

  • North America

    • US

    • Canada



  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe



  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific



  • Rest of the World

    • Middle East

    • Africa

    • Latin America





Report Scope:

Satellite Report Scope
Report Attribute/Metric Details
Market Size 2022 USD 3.75 billion
Market Size 2023 USD 4.23 billion
Market Size 2032 USD 11.26 billion
Compound Annual Growth Rate (CAGR) 13.00% (2023-2032)
Base Year 2022
Market Forecast Period 2023-2032
Historical Data 2018- 2022
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Type, Application, End User, and Region
Geographies Covered North America, Europe, Asia Pacific, and the Rest of the World
Countries Covered The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled Airbus SAS (Netherlands), Ball Corporation (US), Boeing (US), Eutelsat Communications SA (France), Intelsat (Luxembourg), Israel Aerospace Industries Ltd (Israel), Lockheed Martin Corporation (US), Northrop Grumman Corporation (US), Safran (France), SES SA (Luxembourg), Space Exploration Technologies Corp (US), Space Systems/Loral, LLC (US), Thales Group (France), Viasat, Inc. (US), Sierra Nevada Corporation (US), and L3 Harris Technologies (US)
Key Market Opportunities The rise in demand for Direct-To-Home (DTH) television services
Key Market Dynamics The continuous growth of video distribution and internet access, as well as a surge in demand for digital television


Frequently Asked Questions (FAQ) :

The Satellite market size was valued at USD 3.75 Billion in 2022.

The market is projected to grow at a CAGR of 13.00% during the forecast period, 2023-2032.

Asia Pacific had the largest share of the market.

The key players in the market are Airbus SAS (Netherlands), Ball Corporation (US), Boeing (US), Eutelsat Communications SA (France), Intelsat (Luxembourg), Israel Aerospace Industries Ltd (Israel), Lockheed Martin Corporation (US), Northrop Grumman Corporation(US), Safran (France), SES SA (Luxembourg), Space Exploration Technologies Corp (US), Space Systems/Loral, LLC (US), Thales Group (France), Viasat, Inc. (US), Sierra Nevada Corporation (US), and L3 Harris Technologies (US).

The Nanosatellite category dominated the market in 2022.

The Earth Observation and Remote Sensing segment had the largest share of the market.

Key Questions Answered

  • ✅ Global Market Outlook
  • ✅ In-depth analysis of global and regional trends
  • ✅ Analyze and identify the major players in the market, their market share, key developments, etc.
  • ✅ To understand the capability of the major players based on products offered, financials, and strategies.
  • ✅ Identify disrupting products, companies, and trends.
  • ✅ To identify opportunities in the market.
  • ✅ Analyze the key challenges in the market.
  • ✅ Analyze the regional penetration of players, products, and services in the market.
  • ✅ Comparison of major players’ financial performance.
  • ✅ Evaluate strategies adopted by major players.
  • ✅ Recommendations
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