New NSR Report Projects $1 Trillion+ in Cumulative Revenue for Global Space & Satellite Markets
Space & Satellite Infrastructure, Applications, and Satellite Connectivity to exceed $1 Trillion, growing at 4.5% CAGR until 2029
Cambridge, MA – The new NSR Global Space Economy report, launched today, finds a cumulative space and satellite market revenue opportunity of more than $1 Trillion between 2019 and 2029. There is an expanding need for space-based services to satisfy needs in orbit and on earth fuelled by expanding requirements for everything from space-enabled Big Data Analytics missions, to commercial crew missions to the ISS, to “classical” connectivity use-cases. While there is a developing space-based, space-consumed economy underway; building connectivity services for earth-based needs still dominates the market landscape. Either in direct connectivity for broadband access or mobility markets or building/launching communications satellites; connectivity-focused use-cases dominate the NSR Global Space Economy revenue picture.
“Classical/traditional connectivity requirements are the largest revenue source for the NSR Global Space Economy analysis,” states report author Brad Grady. “Right now, the entire sector is in a period of transformation – from largely complex, bespoke technology to a proliferated, distributed, serialized technology stack. Software-defined and software-centric, mass-produced, and a network-of-networks are proliferating across all segments of the Space Economy,” Grady adds. From mass-produced LEO-based satellites, to the growing “___ as-a-service” business models in the Space & Satellite Applications segment, the sector is in a period of fundamental transformation.
This commercialization of space is unlocking new use-cases, new end-users, and overall driving a $1 Trillion opportunity. Ranging from science and technology missions where space agencies are a ‘customer amongst many’ to terrestrially-competitive satellite internet services, the Space Economy is on the cusp of significant growth. Bottom Line, the Space Economy transformation is well underway, but connectivity remains the core revenue driver.
About the Report
NSR Global Space Economy is a benchmark of NSR’s research library focused on the Space & Satellite Markets. Covering the core opportunities of Space & Satellite Infrastructure, Applications, and Connectivity, the study builds a complete picture of NSR’s assessment of the cumulative satellite & space revenue opportunities from 2019 to 2029. Combining NSR’s research library into a consolidated, harmonized segment-level view, the report gives the “30,000 ft view” of which segments matter, cross-comparison of sub-segments, and the build-up of annual growth rates.
About NSR
NSR is the leading global market research and consulting firm focused on the satellite and space sectors, NSR’s global team, unparalleled coverage and anticipation of trends with a high degree of confidence and precision than the competition is the cornerstone of all NSR offerings. First to market coverage and a transparent, dependable approach sets NSR apart as the key provider of critical insight to the satellite and space industries. Contact us at info@nsr.com to discuss how we can assist your business.