Satellite Industry Provides FCC with Global Highlights of 2023
'Starlink has about 6,000 satellites deployed, with more than 5,200 of them operational'
WASHINGTON, August 2, 2024 - The Satellite Industry Association on July 24 submitted its State of the Satellite Industry 2024 report to the Federal Communications Commission, noting that low Earth orbit satellites had a record increase in launches and that the U.S. continued to dominate the satellite manufacturing sector in 2023.
The SIA report showed that satellite launch industry revenue increased to $7.2 billion globally in 2023, up from $7 billion in 2022, with a two percent rise in launch rates because of an increase in the deployment of satellites into low Earth orbit.
SIA President Tom Stroup presented the report by video conference on July 24 to FCC officials in the Office of Economics and Analysis. The report was prepared by BryceTech, an analytics and engineering firm in Alexandria, Va.
The report noted that the U.S. maintained the largest launch revenue share of any country with $3.9 billion while non-U.S. countries held $3.3 billion.
Global satellite manufacturing revenue reached $17.2 billion in 2023, a nine percent increase from $15.8 billion in 2022, according to the report. The growth was driven by an increase in commercially procured, smaller, and lower-cost satellites in LEO broadband constellations. It said that the U.S. share of this global revenue declined to $7.9 billion in 2023 from $10.2 billion in 2022.
Regarding broadband satellite end-user revenue, the report said consumer revenue increased to $4.8 billion in 2023, up from $3.4 billion in 2022.
The report said that the number of satellite Internet subscribers reached 4.4 million, "largely attributed to LEO systems as two new LEO constellations entered operations and expanded the customer base.” It noted that the U.S. share of global satellite services revenue in 2023 was 40 percent.
Unlike traditional geostationary satellites, LEO service offered by providers like Starlink provide a low-latency, high-speed connection that supports real-time communication.
According to one estimate, Starlink has about 6,000 satellites deployed, with more than 5,200 of them operational and serving nearly 2.7 million users across 75 countries.
