Space-Based Network Market Overview
The Space-Based Network market size is projected to grow from USD 8.3 billion in 2024 to USD 31.7 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 21.00% during the forecast period (2024 - 2032). Additionally, the market size for Space-Based Network was valued at USD 6.9 billion in 2023.
Increased advanced technology, rising demand for broadband internet access, and government initiatives are the key market drivers enhancing the market growth.
Figure1: Space-Based Network Market, 2018 - 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Space-Based Network Market Trends
Growing technological advancement is driving market growth
Market CAGR for space-based networks is driven by the rising demand for technological advancement towards the growth of next-generation communication satellite constellations. Microsatellites and nanosatellites have emerged as a result of recent technological advances in component miniaturization. Top manufacturers create these satellites on a large scale for the space-based broadband internet industry. Modern technology permits satellite manufacturers to inexpensively build large numbers of satellites for low-earth orbit constellations. One of the challenges space firms faced in their journey to launch multiple satellites was the high cost at the time of launch. However, because of advancements in propulsion and maneuverability, launch costs have reduced significantly over the years.
Additionally, satellites are significant in the deployment of 5G services because of their ability to cover huge areas and give services to multiple users at once for information, entertainment, and commerce. It is anticipated that the terrestrial 5G services will roll out gradually, first in major cities and then progressively spreading to less populated places. However, the services can cover wide areas at consistent speeds within that area thanks to the assistance of satellites.
Transport and logistics, mobile communications, disaster relief or emergency response, network offloading, broadband connectivity in remote locations, Internet of Things (IoT), and machine-to-machine communications are some of the major vertical applications that depend on the space-based broadband internet market. Government initiatives and legislation significantly aided the rise of the space technology (Space Tech) market. Numerous nations have raised their investment in satellite programs and space research as a result of realizing the strategic significance of space operations. The government encourages innovation and entrepreneurship in the space industry by offering grants, money, and regulatory support. As a result, it is anticipated that throughout the projection period, demand for space-based networks will increase due to the advancement of technology in network access. Thus, driving the Space-Based Network market revenue.
Space-Based Network Market Segment Insights
Space-Based Network Application Insights
The Space-Based Network market segmentation, based on application, includes agriculture, maritime, aviation, enterprise, data and telecommunication, logistics and transportation, and others. In 2023, the aviation segment dominated the market, accounting for the maximum market revenue due to the rising penetration rate in several countries that use broadband internet facilities for smooth actions and in-flight connectivity disputes.
Space-Based Network End User Insights
The Space-Based Network market segmentation, based on end user, includes defense and government, commercial, and individual users. In 2023, the commercial category generated the most income due to their various applications ranging from industrial mechanization to aviation space. Commercial organizations have increased private investment in the industry, and wealthy people in business like Jeff Bezos and Elon Musk have founded space exploration-focused enterprises, contributing significant sums of money to the field.
Space-Based Network Frequency Insights
The Space-Based Network market segmentation, based on frequency, includes Ku, Ka, and K Band, C and X Band, and L and S Band. In 2023, the Ku, Ka, and K category generated the maximum revenue due to their high speed.
Space-Based Network Components Insights
The Space-Based Network market segmentation, based on component, includes satellite, gateways, and antenna dish and modem. In 2023, the satellite category generated the maximum revenue due to satellite earth observation pictures, rising demand for low-earth geosynchronous-based services, and an increase in space exploration missions.
Space-Based Network Orbit Insights
The Space-Based Network market segmentation, based on orbit, includes low earth orbit, medium earth orbit, and geostationary earth orbit. In 2023, the low earth orbit category generated the maximum revenue due to its low latency connection from space to develop and launch satellite internet constellations.
Figure 2: Space-Based Network Market, by Orbit, 2023 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Space-Based Network Regional Insights
By region, the study provides market insights into North America, Europe, Asia-Pacific, and Rest of the World. The North American Space-Based Network market area will dominate this market, owing to the availability of space solution manufacturers and rising investment in research activities in space. In addition, the growing number of government initiatives and technology advancements will boost market growth in this region.
Further, the major countries studied in the market report are the US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: SPACE-BASED NETWORK MARKET SHARE BY REGION 2023 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe's Space-Based Network market accounts for the second-largest market share due to growing government initiatives and technological advancement. Further, the German Space-Based Network market held the largest market share, and the UK Space-Based Network market was the fastest-growing market in the European region.
The Asia-Pacific Space-Based Network Market is expected to grow at the fastest CAGR from 2024 to 2032 due to increasing technological advancement in machine learning and automation. Moreover, China's Space-Based Network market held the largest market share, and the Indian Space-Based Network market was the fastest-growing market in the Asia-Pacific region.
Space-Based Network Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Space-Based Network market grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Space-Based Network industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Space-Based Network industry to benefit clients and increase the market sector. In recent years, the Space-Based Network industry has offered some of the most significant advantages to the internet market. Major players in the Space-Based Network market, including Airbus SAS, Amazon, AST SpaceMobile, BridgeComm, Inc., Eutelsat Communications SA, Gilat Satellite Networks, Hughes Network Systems, Intelsat, L3Harris Tehcnologies, Inc., OneWeb, SES SA, ST Engineering iDirect, Inc., Starlink, Swarm Technologies, Inc., Telesat, Viasat, Inc., Northrop Grumman Corporation, and others, are attempting to increase market demand by investing in research and development operations.
Northrop Grumman Corporation is a multinational defense and aerospace technology organization headquartered in the United States (US). The B-21 Raider, being developed by Northrop Grumman, is a strategic bomber with stealth and extended range that can produce both conventional and nuclear missiles. Its major creativities include the creation and operation of the Lames Webb Space Telescope, an orbiting observatory scheduled for launch in 2021. In November 2023, The Arctic Satellite Broadband Mission (ASBM), a two-satellite constellation envisioned to offer broadband communications to the Northern Polar region for the US Space Force and Space Norway, saw the successful accomplishment of Thermal Vacuum tests by Northrop Grumman Corporation.
AST SpaceMobile is a publicly listed satellite design and manufacturing company headquartered in Midland, Texas. The business is developing the SpaceMobile constellation of satellites. This space-based cellular broadband network will enable unmodified smartphones to connect to satellites in underserved areas. After being launched in 2022, the prototype BlueWalker 3 satellite will hold the title of the largest commercial communications array in low Earth orbit. In March 2023, Saudi Telcom Company ("STC") and AST SpaceMobile, Inc. inked a non-binding Memorandum of Understanding. During the Mobile World Congress in Barcelona, the two organizations contracted a memorandum of understanding to investigate new telecom technologies and satellite-based digital services with the goal of enhancing the accessibility of mobile services.
Key Companies in the Space-Based Network market include
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Airbus SAS
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Amazon
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AST SapceMobile
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BridgeComm, Inc.
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Eutelsat Communications SA
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Gilat Satellite Networks
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Hughes Network Systems
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Intelsat
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L3Harris Technologies, Inc.
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OneWeb
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SES SA.
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ST Engineering iDirect, Inc.
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Starlink
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Swarm Technologies, Inc.
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Telesat
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Viasat, Inc.
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Northrop Grumman Corporation
Space-Based Network Industry Developments
August 2023: The Space Construction Agency (SDA) issued a $3 million contract for the design and construction of a visual ground station for data transfer with low Earth orbit (LEO) satellites, letting links to space-based optical communication terminals.
June 2023: Mynaric and Raytheon Technologies signed a contract for the Space Development Agency's (SDA) Tranche 1 Tracking Layer program.
Space-Based Network Market Segmentation
Space-Based Network Application Outlook
Space-Based Network End User Outlook
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Defense and Government
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Commercial
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Individual Users
Space-Based Network Frequency Outlook
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Ku, Ka, and K Band
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C and X Band
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L and S Band
Space-Based Network Component Outlook
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Satellite
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Gateway
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Antenna Dish and Modem
Space-Based Network Orbit Outlook
Space-Based Network Regional Outlook
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North America
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Europe
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Germany
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France
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UK
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Italy
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Spain
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Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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Australia
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South Korea
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Rest of Asia-Pacific
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Rest of the World
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Middle East
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Africa
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Latin America
| Report Attribute/Metric |
Details |
| Market Size 2023 |
USD 6.9 Billion |
| Market Size 2024 |
USD 8.3 Billion |
| Market Size 2032 |
USD 31.7 Billion |
| Compound Annual Growth Rate (CAGR) |
21.00% (2024-2032) |
| Base Year |
2023 |
| Market Forecast Period |
2024-2032 |
| Historical Data |
2019-2022 |
| Market Forecast Units |
Value (USD Billion) |
| Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered |
Application, End User, Frequency, Component, Orbit, and Region |
| Geographies Covered |
North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered |
The US, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled |
 Airbus SAS, Amazon, AST SpaceMobile, BridgeComm, Inc., Eutelsat Communications SA, Gilat Satellite Networks, Hughes Network Systems, Intelsat, L3Harris Technologies, Inc., OneWeb, SES SA, ST Engineering iDirect, Inc., Starlink, Swarm Technologies, Inc., Telesat, Viasat, Inc., Northrop Grumman Corporation |
| Key Market Opportunities |
To build a hyper-connected World |
| Key Market Dynamics |
Increase in demand for internet access Technological advancement Government initiatives |
Frequently Asked Questions (FAQ) :
The Space-Based Network market size was valued at USD 6.9 Billion in 2023.
The market is projected to grow at a CAGR of 21.00% during the forecast period 2024-2032.
North America had the largest share in the market
The key players in the market are Airbus S.A.S., Amazon, BridgeComm, Inc., AST SpaceMobile, Eutelsat Communications SA, Gilat Satellite Networks, Hughes Network Systems, Instelsat, L3Harris Technologies, Inc., OneWeb, SES SA, ST Engineering iDirect, Inc., Starlink, Swarm Tehcnologies, Inc., Telesat, Viasat, Inc., Northrop Grumman Corporation.
The Ku, Ka, and K Band category dominated the market in 2023.
The low earth orbit category had the largest share in the market.
