Space Economy Revenue Hit $384 Billion in 2022: SIA

Space economy revenue hit $384 billion globally in 2022, the Satellite Industry Association said Tuesday in its annual state of the satellite industry report. It said the satellite industry had $281 billion revenue, including $145 billion in ground equipment revenue and $113.3 billion in satellite services revenue. Satellite revenue for the year was essentially flat from 2021, with growth in most segments offset by declines in video, SIA said. It said the 7,316 active satellites at the end of 2022 were up 321% from five years earlier, and more than 5,000 small satellites were deployed between 2020 and 2022. The 7,316 are operated by entities headquartered in 83 countries, it said. Of the 7,316, 63% are for commercial communications, it said. SIA said 2022 ended with 596 operational geostationary orbit satellites, up from 574 in 2021.