1,400 satellites to launch by 2024

Around 140 satellites with a launch mass over 50kg will be launched each year for the next decade.

The forecast from Eurosconsult’s Satellites to be Built & Launched by 2024 forecasts 1,400 satellites over the next 10 years at a value of $255 billion. Unlike the company’s previous report the number of satellites is due to grow more than the market value over the decade.

“The increase in satellite number would be significantly higher if two mega-constellation projects for small communications satellites were included in the forecast,” said Rachel Villain, Principal Advisor at Euroconsult and editor of the report. “The 1,400 satellite count over the decade already includes 350 satellites to be deployed by ten commercial constellations into low or medium Earth orbits for communication or Earth observation.”

In the commercial space sector, Euroconsult anticipates a total of 550 satellites to be launched over the decade by 40 companies. Most of these satellites will be for the replacement of the communications capacity currently in orbit. 80% of the commercial space market remains concentrated in geostationary orbit, the destination of 300+ satellites operated by 30 companies for communications and broadcasting services.

But it is governmental satellites that will be responsible for 75% of the $255 billion. 90% of that market is down to ten countries with an established space industry; the United States, Russia, Europe (France, Germany, the UK, Italy and Spain), China, Japan and India.