SIA Releases its 24th annual State of the Satellite Industry Report

Washington, D.C., July 21, 2021-- The Satellite Industry Association (SIA) released its 24th annual State of the Satellite Industry Report, a study of the satellite industry performance. The report, produced by BryceTech, provides an overview of 2020 activity derived from proprietary surveys, in-depth public information, and independent analysis.

Highlights from the report: 

• A record number of satellites were launched into space in 2020, driven by the deployments of LEO broadband constellations.
• Global revenue of the satellite industry totaled US$ 271 billion USD in 2020, which is 73 percent of the space economy.
• Technology innovations drove the deployment of more capable, lower-cost satellites, faster throughput speeds, and increased Satcom capacity. Satellite radio, broadband, mobile satellite services, and commercial remote sensing revenues all increased.
• 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-enabling 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.
• The full version of the study includes detail on innovative technology developments delivering new capabilities and continual improvement in affordability and productivity, the surge of SPAC activity in space industry, and a discussion of the COVID-19 impact on customers of satellite services.

For more top-level global satellite industry findings, download the SIA report summary.