Government investment remains a key factor in driving growth, with global military space budgets exceeding $64bn.
Novaspace
Defence spending has driven government space budgets to historic highs.
The smallsat market is expected to reach a value of $113.3bn driven by strategic investments and emerging technologies.
In 2024, investments over $1.7bn, and the availability of 20+ satellite-compatible smartphones accelerated the sector's growth.
Global satellite capacity is expected to reach 240 Tbps by 2028 and generate service revenues of nearly $120bn by 2033.
The firm has predicted 5,401 Earth Observation satellites will be launched between 2024 and 2033.
Satellite constellations are redefining the global maritime communications market over the coming decade after shipping operators adopt hybrid approach.
