5G Satellites Market Size, Share, Industry Analysis, Trends, Growth, 2032

5G Satellites Industry Prospective:

The global 5G satellites market size was evaluated at $3.26 billion in 2023 and is slated to hit $30.65 billion by the end of 2032 with a CAGR of nearly 28.27% between 2024 and 2032.

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5G Satellites Market: Overview

Satellites are used extensively to support 5G networks, particularly for providing high bandwidth mobile broadband data solutions through 5G networks. Apart from this, 5G satellites cover a large part of the globe and offer low latency along with high-speed backhaul internet connectivity. In addition to this, these satellites assist the 5G network operators in connecting their enhanced mobile broadband network to the web or any other networks. Furthermore, this can help the end-users in accessing the internet with high speed even in the regions having low terrestrial backhaul.     

Key Insights

• As per the analysis shared by our research analyst, the global 5G satellites market is projected to expand annually at the annual growth rate of around 28.27% over the forecast timespan (2024-2032)
• In terms of revenue, the global 5G satellites market size was evaluated at nearly $3.26 billion in 2023 and is expected to reach $30.65 billion by 2032.
• The global 5G satellites market is anticipated to grow rapidly over the forecast timeline owing to massive demand for improved weather monitoring, TV broadcasting, and positioning of services such as GPS.
• In terms of orbit, the lower earth orbit segment is slated to register the highest CAGR over the forecast period.
• Based on end-user, the defense segment is predicted to contribute majorly towards the global industry share in the upcoming years.
• Region-wise, the Asia-Pacific 5G satellites industry is projected to register the fastest CAGR during the projected timespan.

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5G Satellites Market: Growth Factors

Escalating need for apt weather monitoring & broadcasting services for TV to boost the global market trends

Massive demand for improved weather monitoring, TV broadcasting, and positioning of services such as GPS is likely to steer the growth of the global 5G satellites market. Surging acceptance of 5G over LTE is likely to prompt the global market trends. The large-scale use of small 5G satellites by the defense sector for a slew of applications such as tactical communication, atmospheric research, and medium-resolution imagery will steer the expansion of the global market. Furthermore, the aviation sector makes use of low-latency satellites for air traffic control along with enhancing airline operations and this will pave the way for humungous expansion of the market globally.

5G Satellites Market: Restraints

Rise in traffic jams in space can hinder the growth of the industry globally

A large number of debris observed in space and traffic congestion can impede the expansion of the global 5G satellites industry.  Moreover, surging security concerns such as introduction of anti-satellite rocket systems that can shoot down the satellites in space along with growing cyber-security issues faced by various countries can hinder the global industry surge.

5G Satellites Market: Opportunities

Rise in the satellite application in marine services can open a slew of growth opportunities for the global market

Escalating the use of satellites in the maritime sector along with rising concerns pertaining to maintaining people's security at the borders of the country can open new horizons of growth for the global 5G satellites market.

5G Satellites Market: Challenges

An increase in cyber terrorism globally can challenge the growth of the industry across the globe

A rise in the cyber terrorist activities across the globe can pose a huge challenge for the global 5G satellites industry.  In addition to this, rise in the cost of raw materials along with escalating import duties can deter the growth of the global industry in the near future.  

5G Satellites Market: Segmentation

The global 5G Satellites market is divided into orbit, end-user, and region.                                         

In type terms, the 5G satellites market across the globe is bifurcated into geostationary earth orbit, medium earth orbit, and lower earth orbit segments. Additionally, the lower earth orbit segment, which acquired nearly 48% of the global market earnings in 2023, is expected to register the fastest annual rate of growth in the forecast timeline. The expansion of the segment in the next eight years can be due to breakthroughs in low-earth orbit satellites along with the low latency & high reliability provided by these orbits. 

Based on the end-user, the global 5G satellites industry is divided into government, commercial, and defense segments. Moreover, the defense segment, which accumulated about 52% of the global industry size in 2023, is anticipated to make massive contributions towards the global industry revenue over the analysis timeframe. The growth of the segment in the upcoming years can be attributed to rise in the use of 5G satellites in defense segment as military, air force, and navy requires knowing the exact location of enemy’s tanks, ships, and infantry as well as arms & ammunitions to accurately target & destroy them with the help of drones, rockets, and missiles.

5G Satellites Market: Report Scope

5G Satellites Market: Regional Insights

North America is expected to maintain the leadership status in the global market in the next couple of years

North America, which accounted for nearly three-fourths of the global 5G satellites market earnings in 2023, is expected to establish dominance in the global market over the years ahead. In addition to this, the regional market expansion in the next couple of years can be subject to large-scale presence of key firms in the countries such as the U.S.  Moreover, some of the firms are involved in improving 5G connectivity by adding new features to 5G satellites, thereby contributing lucratively toward the growth of the market in North America.

The Asia-Pacific 5G satellites industry is anticipated to register the fastest growth rate in the forecast timeline. The rapid progression of the industry in the APAC zone can be attributed to an increase in the 5G network service providers in the countries including India and China. For instance, companies such as Reliance Jio and Bharti Airtel offer 5G network services for people possessing 5G smartphones.

Key Developments

• In 2022, AccelerComm introduced LEOphy, a power-efficient layer 1 modem solution for LEO 5G satellites for substantially reducing the rate of errors along with optimizing the spectral efficacy of the 5G satellite networks. 

5G Satellites Market: Competitive Space

The global 5G satellites market profiles key players such as:

• Starlink
• SES S.A.
• Freefall
• Skyloom
• Avanti Technology
• Kuiper Systems
• Hiber
• Inmarsat
• OneWeb
• Clutch Space Systems
• Myriota

The global 5G satellites market is segmented as follows:

By Orbit

• Geostationary Earth Orbit
• Medium Earth Orbit
• Lower Earth Orbit

By End-User

• Government
• Commercial
• Defense

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa