Annual satellite launches set to increase four-fold by 2028
Annual satellite launches set to increase four-fold by 2028
The number of satellites launched each year is set to increase fourfold, from an annual average of 230 in the past decade to 990 per year by 2028, according to the latest forecast from Euroconsult. The market is estimated to grow 28 percent a value of USD 292 billion over the next decade.
The growth is driven by newcomers such as Oneweb, SpaceX's Starlink and Amazon's Project Kuiper, and the growing number of low- or medium-orbit satellites. The latter are expected to account for 77 percent of the projected demand in the next decade, driven by new fleets launching to deliver broadband and IoT services. Incumbent satellite operators are also transitioning their service portfolios and fleets, to focus more on data services.
Civil government agencies are projected to be the top drivers of satellite demand, accounting for 40 percent of the entire market value, ahead of both defense and commercial demand. This is a result of increasing interest in space science, e xploration, and Earth observation. On the defense side, a new cycle of orders is beginning with new strategies and replacement satellites needed by the US, China, Russia, Japan, India and Europe.
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