3% Satellite Industry Growth, Despite Video Revenue Decline
The number of active satellites in orbit has exploded, from approximately 1,000 in 2014 to nearly 11,539 by the end of 2024.
Drew Clark
WASHINGTON, May 13, 2025 - The satellite industry generated $293 billion in global revenue in 2024, growing 3% overall despite ongoing challenges in the video sector, according to the annual State of the Satellite Industry Report released Tuesday.
The report, commissioned by the Satellite Industry Association (SIA) and prepared by BryceTech, highlighted a particularly strong performance in satellite manufacturing and launch services, which grew 17% and 30% respectively.
"We are living through the space industrial revolution," said Jay Schwarz, FCC Space Bureau chief, during the report's unveiling he. "When we look at what we call the 'space hockey stick' at the FCC, we see a lot of opportunity."
The report shows the industry would have posted 6% growth if not for continued decline in satellite television revenue, which fell 6% last year. Satellite TV services still account for $72.4 billion in revenue, representing 67% of all satellite services revenue.
The satellite industry represents 71% of the $415 billion global space economy, with ground equipment remaining the largest segment at $155.3 billion, followed by satellite services at $108.3 billion.
The number of active satellites in orbit has exploded, from approximately 1,000 in 2014 to nearly 11,539 by the end of 2024. Commercial communications satellites account for 72% of operational satellites, with U.S. entities operating more than 8,000.
Low-Earth orbit (LEO) satellites, including broadband availability through SpaceX’s Starlink and now Amazon’s Project Kupier, are driving much of that growth.
Tom Stroup, SIA president, highlighted the industry's shift toward multi-orbit connectivity solutions that integrate satellites in different orbits. "We continue to see multi-orbit connectivity, integration of satellite and terrestrial networks, and increasing remote sensing capabilities," Stroup said.
The launch segment saw a record 259 orbital launches and 2,172 tons of satellite mass deployed in 2024, a 46% increase in mass from the previous year. U.S. launch providers captured 65% of global launch revenues, up from 54% in 2023.
The report also noted the emergence of space sustainability as a new market segment, generating $350 million in revenue. This includes activities like space situational awareness, satellite servicing, and debris removal.
Schwarz emphasized the strategic importance of U.S. leadership in space, citing competition from China. "We want American space companies to build and license and operate in the United States," he said. "If we don't, we could see China happily grab the mantle of being the space leader."
The FCC has been working to streamline its satellite licensing process, reducing its Earth station application backlog by 36% since the beginning of the year. "Moving fast is a choice," Schwarz said. "We know that China is not going to be hampered by red tape, and so we're not going to allow that to slow us down either."
Industry executives cited the rapid growth of LEO constellations and technological advances like laser communications as key trends to watch in 2025. By the end of the decade, the number of active satellites could reach 50,000, according to industry experts.
The SIA report, now in its 28th year, compiles data from proprietary surveys and public information.
