PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1956048
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1956048
The satellites market is projected to reach USD 46.79 billion by 2031, from USD 15.68 billion in 2025, with a CAGR of 16.9%. In terms of volume, the market is expected to rise from 2,942 units in 2025 to 5,110 units by 2031. The satellites market is expanding as operators continue adding capacity through new launches, constellation expansion, and replacing older satellites.
| Scope of the Report | |
|---|---|
| Years Considered for the Study | 2021-2031 |
| Base Year | 2024 |
| Forecast Period | 2025-2031 |
| Units Considered | Value (USD Billion) |
| Segments | By Mass, Application, Subsystem and Region |
| Regions covered | North America, Europe, APAC, RoW |
Demand is increasing in communication, Earth observation, and navigation, which supports higher satellite volumes. Meanwhile, more commercial players and regional space programs are entering the market, contributing to overall growth.

"The Ku-band is expected to be the fastest-growing frequency segment during the forecast period."
The Ku-band is expected to record the highest CAGR during the forecast period because of its widespread use in satellite communication for broadcasting, broadband internet, and mobility applications such as aviation and maritime connectivity. Ku-band provides a good balance of coverage, available bandwidth, and mature ground infrastructure, making it cost-effective for large-scale deployments. The existing base of terminals and service providers supports continued strong adoption and steady growth.
"Electric is expected to be the largest propulsion technology segment during the forecast period."
The electric segment is expected to be dominant during the forecast period, as more satellites use electric propulsion for station keeping, orbit raising, and constellation missions because it is lighter and more efficient. Electric systems enable operators to carry more payloads per launch and reduce overall launch costs. They also support longer satellite lifespans and require less propellant, which is why many commercial operators are shifting toward electric propulsion.
"North America is expected to hold the second-largest position during the forecast period."
North America is expected to hold the second-largest share of the satellites market through 2031, driven by strong commercial satellite operators and consistent spending on defense and civil space programs. The region leads by deploying communication and Earth observation satellites for broadband, mobility, and data services. Continued investment in next-generation satellite systems like high-throughput platforms and resilient space setups keeps demand steady. A mature launch ecosystem and major satellite manufacturers also help sustain North America's position.
This market study covers the satellites market across various segments and subsegments. It aims to estimate the size and growth potential of this market across different regions. The study also provides an in-depth competitive analysis of the key players, their company profiles, important observations about their products and business offerings, recent developments, and the key strategies they have adopted.
The report will assist market leaders and new entrants by providing approximations of the revenue figures for the overall satellites market. It will also help stakeholders understand the competitive landscape and gain insights to better position their businesses and develop effective go-to-market strategies. Additionally, the report will provide insights into the market pulse, including key drivers, restraints, challenges, and opportunities.