Bryce Tech Releases 2021 Satellite Industry Revenue Report15th Jul 2022
Space-focused analytics and engineering firm Bryce Tech released its latest satellite industry report on 14th July. Over 2021, the report states, the satellite industry accounted for 72%, or $279 billion of the $368 billion overall space economy. Non-satellite industry elements include commercial human spaceflight and government space budgets, all-in-all totaling $107 billion.
Satellite Industry Revenue Breakdown
The industry’s revenue came first and foremost from the ground equipment sector, at $142 billion of the total. This is a rise from $135.3 billion in 2020. Satellite services accounted for $118 billion, up from $117 billion in 2020. Satellite manufacturing and launch services made up the remainder, at $13.7 billion and $5.7 billion respectively. .
Though launches make up the smallest portion of revenues in 2021, the segment is undergoing rapid change in its makeup. Revenue is up 7.5% over 2020, though the number of launches rose from 94 to 113 over the period. Moreover, the geography of launches changed. The US accounted for 40% of launches in 2020, versus 36% in 2021.
Forward looking statement
The satellite industry report did not make any forward-looking statements, but the 2022 report to be released next year can be expected to show further change in the launch category. Contracts for launches from Russian-controlled sites dropped drastically after the RF invaded Ukraine on 24th February 2022. Russia’s actions forced active purchasers of launch capacity such as OneWeb to look elsewhere. Moreover, the geography of launch is set to expand in summer 2022 with Virgin Orbit’s launch from Cornwall Spaceport.
You can download the report here.