Beyond enabling vital telecommunication and navigation infrastructure, satellites provide critical climate, weather and earth observation data from space. Thousands of government, commercial and scientific missions operate in orbit around our planet. The private companies that design, manufacture, launch and operate satellite technology form a $260 billion global industry projected to grow over 9% through 2030.
Getting familiar with the major players in this complex ecosystem can shed light on the vital role of satellite-based networks in connecting our modern world.
Overview of the Satellite Industry Landscape
The satellite industry serves both public and private sector customers with two primary types of capabilities:
Fixed satellite services (FSS) provide communication links between stationary points on the ground through geostationary satellites that appear fixed overhead. Applications include TV distribution, enterprise data networks, cellular backhaul and military communications.
Earth observation (EO) satellites capture continual imagery used for cartography, weather forecasting, surveillance and environmental monitoring. Lower orbiting satellites circle the planet in remote sensing missions.
While government agencies like NASA focus more on exploratory purposes, the private sector operates the vast majority of commercial satellites supporting modern telecom infrastructure and global connectivity.
Hundreds of companies exist in the various segments of designing, manufacturing, launching and operating satellite networks as well as manufacturing user terminals and ground station equipment to utilize satellite data.
Among public companies focused primarily on actual satellite operations and services, below are the 11 largest worldwide based on their annual revenue.
How Satellites Work: A Technical Primer
Satellites utilize onboard electricity from solar panels to power communication payloads that relay signals using radio waves and focused beams of light. They incorporate antennas, transponders and other transceivers to receive uplinked data and broadcast it back down to Earth.
Modern satellite networks take immense coordination between spacecraft in space and ground stations below. Networks must carefully control the positioning of satellites along orchestrated flight paths and seamlessly hand off signal connectivity as spacecraft circle the globe.
There are several common classes of Earth orbits satellites use:
Geostationary orbit (GEO) – Approximately 35,786 km above the equator, GEO satellites orbit at precisely the rate of Earth’s rotation, remaining locked above one longitudinal position. This high vantage point allows them to cover a full hemisphere below with fixed communication links to ground antennas in their line-of-sight. Used heavily for broadcast, broadband and military purposes.
Medium Earth orbit (MEO) – Altitudes between 2,000 and 35,786 km above Earth. MEO satellites circle the globe every 2-24 hours, providing high-speed, regional coverage to receivers below. Extensive networks like GPS utilize MEO orbits.
Low Earth orbit (LEO) – Orbits ranging from 160 to 2,000 km above the surface, encircling the planet in under 2 hours. While more satellites are needed for global connectivity, the extreme proximity to receivers on the ground provides lower latency signals. Broadband constellations like SpaceX Starlink leverage LEO satellites.
The higher the orbit, the wider the coverage area but slower the transmission times. As satellites move closer toward Earth in lower orbits, they can transfer more data with reduced lag for better real-time communication.
Recent Explosive Growth in Satellite Broadband Demand
As internet consumption continues rising globally, new mega-constellations of LEO satellites promise to bridge the digital divide by supplying high-speed broadband anywhere on the planet.
Launching smaller satellites in batches of hundreds at cheaper costs has accelerated adoption of these LEO broadband networks. Companies like SpaceX, OneWeb and others have lofty plans to develop orbital fleets numbering thousands to tens-of-thousands of spacecraft – vastly expanding internet capacity and availability.
The influx of capital and innovations in satellite manufacturing is creating enormous opportunities alongside some challenges regarding space debris, orbital traffic management and operating models as the industry continues maturing.
Now let’s explore the top revenue-generating satellite operators worldwide powering communication networks today and into the future.
#11: China Satellite Communications – $380M 2021 Revenue
Founded in 2008 through a restructuring of China Satcom, China Satellite Communications operates 16 GEO satellites under their ChinaSat brand name. From the ChinaSat-9 base at 87.5°E longitude above Asia, they deliver communication and broadcasting services mainly to governmental, media and corporate entities across the Eastern Hemisphere. The Beijing-headquartered state-owned company employs over 550 people working to advance Chinese space technology interests.
#10: The SpaceX Starlink Satellite Network – $500M 2021 Revenue
The private American aerospace firm SpaceX has disrupted the launch services market while more recently pioneering affordable, global satellite broadband internet. Led by founder Elon Musk, SpaceX has to date launched over 3,000 low-orbit Starlink satellites to build out a planned 40,000-strong mega-constellation network.
Offering in-progress service with exponential expansion ahead, Starlink promises to massively overhaul internet availability – even reaching remote regions currently lacking connectivity. By partnering with telecommunication providers, their LEO broadband will backhaul wireless cell networks too.
Valued at over $100 billion with 11,000+ employees, SpaceX demonstrates enormous faith in capitalizing on the forecasted $1 trillion satellite services market potential this decade. Their Starlink ownership makes them a definite global player to watch.
#9: Korea Aerospace Research Institute – $583M 2021 Revenue
KARI represents South Korea’s national aerospace agency, established in 1989 with main facilities in Daejeon. While expanded organizational operations and partnerships beyond spacecraft manufacturing, KARI builds and operates satellites to progress technologies for their country alongside performing scientific research.
Current on-orbit assets stand at eight – five multipurpose satellites plus three in their own navigation satellite system KPS, which augments GPS for localized services. KARI continues developmental projects like launching lunar probes as part of their ambitious space program seeking greater prestige and independence.
#8: Iridium Communications – $615M 2021 Revenue
This innovative American satellite operator owns 66 crosslinked LEO satellites delivering exceptionally reliable global coverage for satellite phones, pagers, IoT devices and more. Originally founded in the late 90’s during an era of highly speculative satellite ventures, Iridium overcame bankruptcy by uniquely maintaining full operations during financial restructuring.
Upgraded constellation architecture and new technologies transformed them into an extremely trusted industry leader in satellite-based communication solutions for enterprises requiring functionality in remote locales from land to sea to air. Corporate, government and scientific clients value their network’s resilience and robustness. 2021 saw their smallest net loss in years as profitability keeps rising with over 500,000 billable subscribers online.
#7: Kratos Defense and Security Solutions – $830M 2021 Revenue
Primarily serving US and allied military clients, California-based Kratos engineers specialized hardware and software enabling satellite-based communication and observation platforms before, during and after launch. Ground system infrastructure like antennae, monitoring and control technology integrate reconnaissance, weapon targeting and other strategic advantages leveraging orbiting assets.
Supporting offensive drone, hypersonic missile, radar and cyber warfare programs maturing as battlefronts progress, Kratos continues strategically acquiring companies to expand their contracted offerings. Publicly traded since 1999 with 3000 employees and $1 billion market capitalization, they provide integral space and combat-focused products to Western governments vying for supremacy today.
#6: China Spacesat Co – $1.01B 2021 Revenue
Claiming origins back to the dawn of China’s space program during the Cold War era, public company China Spacesat researches, develops and produces specialized microsatellites primarily serving domestic Chinese customers. Their engineered satellites support communications, broadcasting, weather observation and scientific experiments for government and academic projects.
Through extensive experience across over 100 satellite missions utilizing Chinese launch vehicles, China Spacesat provides clients affordable, rapidly customizable platforms tailored for programs that larger international providers may overlook. Staying on the leading edge, they plan to establish a smart microsatellite production facility and grow capabilities in lunar and interplanetary exploration this decade.
#5: Boeing Satellite Systems – $1.23B 2021 Revenue
Global aerospace leader Boeing offers sophisticated satellite systems and payloads to commercial operators, foreign governments and the US Department of Defense assisting commanders with secure networked communication worldwide. In recent years, focus increased on building high-powered digital broadcast spacecraft under their 702 model range to meet tremendous demand growth in video distribution across the Asia-Pacific region and other emerging markets.
Boeing’s satellite arm also produces major weather monitoring platforms like GOES-R circled high above North America alongside collaborating on GPS III navigation upgrades maintaining orbital constellations enabling precise positioning data. Partnered launches with Blue Origin and billons in contracted backlog cements Boeing as an enduring powerhouse extending their expertise nurtured over 60 years since forming their Development Center way back in 1960.
#4 Inmarsat: – The Largest Satellite Companies in Britain – $1.35B 2021 Revenue
Originally established in 1979 as the International Maritime Satellite Organization focused solely on ship-to-shore communication, Inmarsat today services customers globally with broadband internet, advanced data networks and award-winning satellite phone connectivity. As the world’s leading provider of mobile satellite communications, Inmarsat owns and operates 14 GEO satellites delivering reliable, seamless coverage across vital industries like maritime, aviation, government and humanitarian services.
Prized for robust capacities and technological innovation paired with exceptional customer service, Inmarsat enables modern commercial operations, military missions and emergency response personnel anytime, anywhere. 2021 saw an employee-led buyout from previous private equity ownership, poising the British company for an exciting new era under refreshed vision and values.
#3 SES: – Societe Europeenne des Satellites – $2.02B 2021 Revenue
This pioneering Luxembourg-based firm launched in 1985 as Europe’s first private satellite operator. Today SES provides satellite-enabled video and data solutions to broadcasters, mobile network operators, governments and institutions. Companies like Comcast, Discovery, Verizon and Microsoft rely on SES.
Owning majority stakes in fleet operators like O3b orbited 8,000 km up, SES operates over 70 spacecraft in GEO and MEO, transmitting ~8,400 TV channels that 1 billion viewers watch daily.
Continually expanding networks and next-gen upgrades ensure their infrastructure powers digital transformation via cloud adoption, the switchover to 5G and achieving universal connectivity goals aimed at eliminating the digital divide across society this decade.
#2: Safran – One of the Largest Satellite Companies – $18.345B 2021 Revenue
Multinational Safran operates across aviation, defense and security markets, selling rocket engines while also producing optical and communication instruments supporting satellites and spacecraft. Safran owns several subsidiaries focused on ground stations crucial for satellite network linkage and data transmission.
For example, Safran Electronics & Defense manufacture over 250 stationary and transportable satellite communication terminals installed on all continents across land, air and sea. Their sensitive antenna dishes and transceiver equipment send commands up to satellites while receiving location, timing, observation and communication packets from LEO, MEO and GEO satellites back to processing infrastructure on Earth.
Essential for utilization of orbiting assets, ground systems translate raw satellite data into usable intelligence. Safran thus provides integral products enabling modern detection, navigation,scientific and connectivity Functionalina, aerospace and defense capabilities.
#1: Mitsubishi Electric – $37.9B 2021 Revenue
Dating back to 1970 when they produced Japan’s first commercial satellite, Mitsubishi Electric earned distinction across over 600 spacecraft launches playing key roles in international partnerships like the ISS. Their satellites and ground equipment support telecommunication, broadcasting, positioning, weather observation and scientific data acquisition.
Beyond building satellites, Mitsubishi integrates extensive infrastructure and automation equipment like power generation turbines, transport streamers and even air conditioners installed ubiquitously across Japan’s infrastructure. Such diverse business divisions bolster Mitsubishi’s financial results as they innovate new technologies in space alongside smart cities here on Earth.
| Rank | Company | 2021 Revenue |
|---|---|---|
| 11 | China Satellite Communications | $380 million |
| 10 | SpaceX Starlink | $500 million |
| 9 | Korea Aerospace Research Institute | $583 million |
| 8 | Iridium Communications | $615 million |
| 7 | Kratos Defense & Security | $830 million |
| 6 | China Spacesat | $1.01 billion |
| 5 | Boeing Satellite Systems | $1.23 billion |
| 4 | Inmarsat | $1.35 billion |
| 3 | SES | $2.02 billion |
| 2 | Safran | $18.345 billion |
| 1 | Mitsubishi Electric | $37.9 billion |
The commercial space age dawns as falling costs to access orbit prompt expanded infrastructure investment. Already vital to connectivity and commerce today, new generations of satellite networks will impact even more of our economy. As national influence shifts beyond our atmosphere, private enterprise continues rising on booster flames to supply exponentially greater demands for global data transmission this decade and beyond!
