Market Outlook
The global satellite market size of USD 4.78 billion in 2024 is expected to increase to about USD 15.52 billion by 2035 (CAGR ~11.3%). Within this growth, end-user segmentation (commercial vs defence) offers distinct dynamics.
Industry Overview
The satellite industry serves a dual-purpose ecosystem. Commercial use cases such as direct-to-home broadcasting, broadband, navigation, and imagery are driving large volumes. Defence and military users, though smaller in volume, often command higher margins and advanced capacity demands (e.g., surveillance, missile warning, Earth observation for national security).
Key Players
Major participants—Airbus SAS, Boeing, Lockheed Martin, Northrop Grumman, Eutelsat Communications—operate across both commercial and defence spaces. For example, Lockheed Martin has secured large contracts for missile warning satellites.
Segmentation & Growth
Commercial end-users are expected to hold the larger share of the market during the forecast period, driven by television broadcasting, satellite broadband, imagery services, and commercial remote sensing. The defence/military segment, while smaller in share, is underpinned by government spending, strategic mandates, and high-end technological requirements.
Why Commercial Leads

• Volume: Many more commercial missions (broadband, TV, imagery) than strictly defence missions.

• Accessibility: Commercial satellites are increasingly accessible via smaller platforms, enabling new entrants and services.

• Global demand: Emerging markets need connectivity and content, pushing commercial uptake.
  Why Defence Remains Important

• Governments allocate significant budgets for national space assets.

• Defence satellites often involve longer lifecycles, higher reliability, and specialised capabilities—sustaining premium business.
  Key Takeaway
  For stakeholders, the commercial segment offers scale and growth. For technology-centric firms, defence segments offer high-value contracts and innovation opportunities. A balanced strategy combining both may yield long-term sustainability.