According to the Satellite Industry Association's (SIA) "State of the Satellite Industry Report" for 2022 by BryceTech, the global satellite industry witnessed steady growth, driven primarily by the robust performance of satellite broadband services. While industry revenue remained relatively flat, satellite broadband revenue experienced a remarkable 18% increase. This growth, a record-breaking number of commercial satellite launches, and a surge in active satellites indicate the satellite industry's expanding role in the global space economy.
Key Findings from the Report
Satellite Broadband Revenue: Satellite broadband services exhibited substantial growth in 2022, recording an impressive 18% increase in revenue. The report highlights that consumer broadband satellite service revenue reached $2.4 billion, with nearly 4 million subscribers. While revenue primarily came from Geostationary Orbit (GEO) broadband, most subscriber growth was attributed to Low-Earth Orbit (LEO) systems.
Satellite Industry Revenue: The overall revenue of the satellite industry experienced a modest 1% growth compared to the previous year. However, within the United States, satellite industry revenue witnessed a more significant increase of approximately 5%, while revenue outside the U.S. declined by around 2%.
Satellite Manufacturing and Launch: American firms dominated the satellite manufacturing and launch sectors, earning 64% of global satellite manufacturing revenues and building 87% of the commercially procured satellites launched in 2022. The report reveals that the industry achieved a record-breaking milestone by deploying 2,325 commercial satellites into orbit, representing a notable 35% increase over 2021.
Ground Equipment and Services: Ground equipment, a vital component of the satellite industry, generated the highest revenue among industry categories, amounting to $145 billion in 2022. Satellite services followed closely, generating $113.3 billion in revenue.
Satellite TV Market Decline: While satellite broadband experienced significant growth, the satellite TV market faced challenges due to increased competition in the media space. Satellite TV revenue decreased by 7% in 2022, totaling $82.4 billion.
Launch Segment: The report emphasizes that commercially procured satellite launches witnessed a substantial increase in revenue, reaching $7 billion in 2022, a 23% growth from the previous year. SpaceX's Starlink constellation accounted for approximately one-fifth of these launches, with 34 launches in 2022.
Space Sustainability Activities: The report expanded its coverage to include space sustainability activities such as situational awareness, satellite transportation, and mission life extension. This emerging segment generated $250 million in revenue in 2022, with space situational awareness representing the most significant portion.
The SIA's "State of the Satellite Industry Report" for 2022 highlights the satellite industry's resilience and continued growth, driven by the success of satellite broadband services. With satellite broadband revenue surging by 18%, the industry's expanding role in the global space economy is evident. The report also underscores the record-breaking number of commercial satellite launches, the increasing number of active satellites, and the dominance of American firms in satellite manufacturing and launch services. As the industry embraces new services and technologies, such as broadband connectivity and on-orbit mission extension, the satellite industry is poised for continued growth, enhanced affordability, and the exploration of new markets.
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