Report on ‘satellites to be built & launched by 2024’ releases

Report on ‘satellites to be built & launched by 2024’ releases


US: Market research firm, Research and Markets has announced the addition of its "Satellites To Be Built & Launched By 2024 – World Market Survey" report to their offering. The report is the 18th edition and it provides an exhaustive analysis of the worldwide satellite demand merging customers, applications & orbits.

In comparison with last year's forecast, the number of satellites is due to grow more than the market value over the decade. The increase in number of satellites would be significantly higher if two mega-constellation projects for small communications satellites were included in the forecast.

The 1,400 satellite count over the decade already includes 350 satellites to be deployed by ten commercial constellations into low or medium Earth orbits for communication or Earth observation. Governments in 60 countries will be responsible for 75% of the $255 billion in revenues expected from the manufacturing and launch of these 1,400 satellites over the next decade.

Governments dominate the space industry as established space countries replace and expand their in-orbit satellite systems and more countries acquire their first operational satellite systems, usually for communications & broadcasting or for Earth observation & imagery intelligence.

Nearly 90% of the government market will remain concentrated in the ten countries with an established space industry.

In the commercial space sector, a total of 550 satellites are expected to be launched over the decade by 40 companies. Most of these satellites will be for the replacement of the communications capacity currently in orbit. 80% of the commercial space market of remains concentrated in geostationary orbit, the destination of 300+ satellites operated by 30 companies for communications and broadcasting services.

Source: Globe News Wire