Annual State of the Satellite Industry Report Released by SIA
The Satellite Industry Association (SIA) has released its 25th annual State of the Satellite Industry Report (SSIR), a global summary of the commercial satellite industry. For a fourth consecutive year, the commercial satellite industry once again launched a record number of commercial satellites into orbit. A total of 1,713 commercial satellites were deployed during 2021, which increased by more than 40 percent compared to 2020, while the space industry conducted the most launches in history. By the end of 2021, a total of 4,852 satellites circled the earth, an increase of 179 percent over the past five years.
“The commercial satellite industry continued to grow in 2021 while dominating the global space economy which also expanded – and all this growth happened during a year still impacted by the global pandemic.”
Tom Stoup, president of the Satellite Industry Association.
Other takeaways from the annual State of the Satellite Industry Report include:
During 2021, the overall global space economy generated revenue of $386 billion, an increase of four percent compared to 2020.
The commercial satellite industry once again continued to be dominant, increasing to $279 billion and accounting for 72 percent of the world’s space business.
Satellite Manufacturing – thanks to improved utility, satellite capability and lower manufacturing costs, satellite manufacturing revenue grew to $13.7 billion in 2021 an increase of more than 12 percent compared with 2020.
Launch Services – more affordable launches and launch vehicle innovations led to increased launch activities and a historic high number of global launches in 2021. Global launch revenues were $5.7 billion in 2021, an increase of 8 percent compared to 2020.
Satellite Services – increased telecom capacity, resolution of commercially available imagery and new remote sensing and other services combined to help generate $118 billion in satellite services revenue during 2021, an increase of approximately .4 percent over the previous year.
Satellite Ground Segment – This sector generated revenue of $142 billion in 2021, a 5 percent increase over the previous year. There are now over 6.5 billion satellite-enabled global smartphones in use while broadband terminals and additional global navigation satellite system (GNSS) terminals as well as satellite radio sales are on the rise.
During the year, the commercial satellite industry dominated a widening global space economy, with total satellite industry revenue in 2021 returning to its tradition of annual growth, increasing by three percent compared with the year previous.
“Thanks to continued leaps in domestic innovation, U.S. market share in manufacturing and launch services increased with American firms building approximately 87 percent of commercially procured satellites launched last year while earning 54 percent of satellite manufacturing revenues.
“Over the past five years, record numbers of satellites have been deployed, costs to manufacture and launch have decreased while utility has increased – all leading to increased affordability, productivity and new markets. Despite all these new benefits, we must not forget that only the satellite industry can deliver truly ubiquitous, high quality, reliable and often critical emergency space-based services that consumer, government and enterprise customers demand both at home and around the world.”
For a quarter of a century, SIA has published the leading analysis of the satellite industry’s economic performance. Produced by Bryce Space and Technology, LLC, the 2022 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.
(Source: Satellite Industry Association news release)