Satellite Industry Revenues Set to Hit $145 Billion
Rising GEO orders and software-defined satellite technology drive long-term growth across global connectivity markets.
Updated on Oct. 21, 2026 in Space
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Novaspace published its 33rd Satellite Connectivity and Video Market report, projecting global satellite services revenues to hit $145 billion by 2035. The report highlights a shift in market dynamics as commercial geostationary (GEO) satellite orders continue to rise.
Why it matters
Rising demand for connectivity across government, consumer, and enterprise markets is fueling substantial sector growth. This trajectory is supported by increased defense spending and falling bandwidth costs driven by high-throughput and non-geostationary systems.
The industry logged 14 commercial GEO satellite orders by mid-September 2026, marking a steady increase from 10 orders in 2025 and 6 in 2024. Revenue growth is projected to reach $145 billion by 2035, with the satellite capacity market alone expected to exceed $46 billion.
The players
Novaspace
A market intelligence firm specializing in data and research for the global space and satellite industry.
The details
The sector is evolving through the adoption of software-defined satellites—platforms that can be reprogrammed in orbit to change coverage or capacity—and multi-orbit strategies. These technical shifts, combined with the deployment of HTS (High Throughput Satellite) systems and NGSO (non-geostationary orbit) constellations, are systematically lowering bandwidth costs. Operators are transitioning from traditional fixed roles to more flexible, software-driven configurations to meet complex connectivity demands.
Timeline
2024 saw six commercial GEO orders recorded.
2025 saw ten commercial GEO orders recorded.
By mid-September 2026, 14 commercial GEO orders were recorded.
The Novaspace report was published in October 2026.
Revenue projections are targeted for 2035.
The Tech Race
The satellite sector is rapidly expanding its commercial GEO order pipeline compared to the stagnant volumes observed in 2024. This growth trajectory directly tracks against the competitive deployment of multi-orbit strategies currently being standardized by major global operators.
Increased investment in satellite capacity is expected to lower connectivity costs for enterprise, government, and consumer broadband users over the next decade. These market changes will begin to manifest as service providers integrate new software-defined satellites into their active networks.
The takeaway
The industry is moving toward a highly flexible, software-defined architecture to capture a projected 44% growth in revenue by 2035. Observers should track the annual commercial GEO order volumes to see if the current mid-year growth rate continues through 2027.
Further reading
For broader trends in orbital infrastructure, see the latest updates in Space.
Source note: This article includes information reported by SpaceNews.
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