The space industry is in a period of rapid transformation, with the largest growth rates occurring in the Satellite and Space Applications segment. The recently released, NSR Global Space Economy report forecasts significant growth within this segment, representing the highest annual growth market within the decade. Albeit much smaller on an absolute revenue basis, when.
Discussing space and satellite market revenue opportunity, “Classical/traditional connectivity requirements are the largest revenue source for the NSR Global Space Economy analysis,” said [NSR]. “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.
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.