In this article, we will look into the 16 largest satellite companies in the world. If you want to skip our detailed analysis, you can go directly to the 5 Largest Satellite Companies in the World.
According to a report by Allied Market Research, the global satellite market was worth $286 billion in 2022. It is expected to grow at a compound annual growth rate (CAGR) of 8.1% from 2023 to 2032 and reach $615.7 billion by the end of the forecasted period. The growth is driven by the rise in space exploration missions, an increase in satellite-based warfare, and the growing trend of small satellites.
Satellite Startup for Global IoT Connectivity
On March 8, Reuters reported that Sateliot, a Spanish startup, is aiming for €100 million in funding to launch a network of small satellites. The company will enter the competitive market for the provision of cost-effective internet access through space, for which the current market is estimated to be valued at $100 billion. The startup stands out among its competitors by taking a unique approach of building a smaller network to focus on connecting IoT devices across regions with restricted coverage of mobile networks. With this venture, the startup is targeting customers from different sectors, such as logistics corporations, farmers, and oil management platforms. The company’s two satellites are already in orbit, with four commercial satellites set to be launched by June 2024. The Spanish startup is expected to be operational in the year’s second half. You can also look at the 12 Best Space Stocks To Buy According To Hedge Funds.
Satellite for Emission Control
Among the growing trends of space exploration, environmental monitoring remains one of the significant drivers of innovation in the satellite and space industry. On March 4, Reuters reported a new satellite backed by Alphabet Inc. (NASDAQ:GOOG) and Environmental Defense Fund Group is being launched to identify methane emissions from space. This venture is a major step toward the accountability of oil and gas sectors for methane gas emissions. The satellite called, MethanSAT is designed to monitor GHG emissions with its ability to deliver detailed information. Moreover, it will help assess the commitments made by the 50 oil and gas companies at the COP28 conference.
You can also look at the 20 Countries With Most Carbon Dioxide Emissions Per Capita.
Satellite Companies Revolutionizing the Space Sector
Some of the companies leading the satellite industry with their products and services include The Boeing Company (NYSE:BA), Airbus SE (OTC:EADSF), and EchoStar Corporation (NASDAQ:SATS).
The Boeing Company (NYSE:BA) is one of the biggest aerospace companies in the world. It provides satellite and satellite-related services to government and commercial customers globally. On March 5, the company announced that it has received a contract to build the communications satellite Wideband Global SATCOM (WGS) for the US Space Force’s Space Systems Command. The satellite by The Boeing Company (NYSE:BA) will provide secure communication capabilities to the US military with the help of the Protected Tactical Enterprise System integrated into the satellite.
Airbus SE (OTC:EADSF) is a leading aerospace company that is innovating in the satellite industry with its top-notch products and services. On March 19, the company announced that it has been awarded a contract by the Jet Propulsion Laboratory (JPL) at NASA for designing and building the GRACE-C twin spacecraft. This is a joint mission by NASA and the German Space Agency, which will strengthen the long-existing partnership between the USA and Germany for an interrupted measurement of the earth’s gravity field. Airbus SE (OTC:EADSF) will be responsible for designing and delivering the satellite to the launch site.
EchoStar Corporation (NASDAQ:SATS) is one of the largest satellite companies in the world. On March 15, its subsidiary, Hughes Network Systems, announced that a leading satellite operator, Nilesat, has purchased Hughes JUPITER System Getaway. It will use the JUPITER terminals for its Nilesat 301 satellite. The ground system will be deployed in the second quarter of 2024, with completion expected by the third quarter of 2024. EchoStar Corporation’s (NASDAQ:SATS) leading ground system, Hughes JUPITER System, will provide bandwidth and cost efficiency by utilizing its software-defined satellite networking and dynamic in-route reconfiguration.
Now that we have discussed the companies innovating in the satellite market, let’s look at the 16 largest satellite companies in the world. You can also check out the 15 Countries with the Highest Number of Military Satellites in Orbit.
A satellite in mid-flight with its solar panels capturing the sun’s rays.
Methodology
To compile our list of the 16 largest satellite companies in the world, we exhausted our research by reviewing industry reports and various similar rankings. Our research yielded both pure-play and non-pure-play companies. To rank the pure-play companies, we considered their market cap as of March 29 for public companies and annual revenue for private companies. For non-pure-play companies, we shortlisted them based on their space and satellite segment revenue for the most recent year available. Our list ranks the 16 largest satellite companies in the world in ascending order of their respective financial metrics.
16 Largest Satellite Companies In The World
16. Gilat Satellite Networks Ltd. (NASDAQ:GILT)
Market Cap as of March 29: $309.60 million
Gilat Satellite Networks Ltd. (NASDAQ:GILT) is ranked among the largest satellite companies in the world. The company has more than 35 years of experience in the satellite technology industry. The company boasts a portfolio of top-notch satellite solutions, including very high throughput satellites (VHTS), software-defined satellites (SDS), satellites on-the-move (SOTM), and block upconverters (BUC). As of March 29, Gilat Satellite Networks Ltd. (NASDAQ:GILT) boasts a market cap of $309.6 million.
15. Telesat Corporation (NASDAQ:TSAT)
Market Cap as of March 29: $416.99 million
Telesat Corporation (NASDAQ:TSAT) is a leading satellite communications company with a strong network of low-earth-orbit satellites. Its low-earth-orbit satellite network, Telesat Lightspeed, is equipped with the capabilities to meet the high requirements of maritime, aeronautical, telecom, and government customers. Telesat Lightspeed is one of the leading satellite networks in the world. As of March 29, Telesat Corporation (NASDAQ:TSAT) boasts a market cap of $416.99 million.
14. Planet Labs PBC (NYSE:PL)
Market Cap as of March 29: $733.50 million
Planet Labs PBC (NYSE:PL) is one of the largest satellite companies in the world. The company provides services, including aerospace, imagery, big data, GIS, and other satellite solutions. The company operates a fleet of more than 200 imaging satellites. It has operated 30 successful launches and deployed over 450 satellites. As of March 29, Planet Labs PBC (NYSE:PL) is valued at $733.5 million.
13. Eutelsat
Annual Revenue (2023): $1.22 billion
Eutelsat is a leading satellite operator in France. The company engages in services, including broadband, professional broadcasting, telecommunication, and data services. It has launched a fleet of 34 satellites, operating across Europe, the Middle East, selected African and Asian regions, and the Americas. The company generated a revenue of $1.22 billion in 2023.
12. Rocket Lab USA, Inc. (NASDAQ:RKLB)
Market Cap as of March 29: $2.01 billion
Rocket Lab USA, Inc. (NASDAQ:RKLB) is a leading aerospace company that provides launch services, satellites and other spacecraft, on-orbit management solutions, and spacecraft components. The company has delivered more than 100 satellites the private and public sectors. Its satellites provide services such as climate monitoring, research, national security, space debris mitigation, and earth observation. As of March 29, Rocket Lab USA, Inc. (NASDAQ:RKLB) has a market cap of $2.01 billion.
11. Intelsat
Annual Revenue (2023): $2.10 billion
Intelsat is ranked 11th on our list of the largest satellite companies in the world. The company offers satellite communications services such as fixed and wireless telecommunication, internet services, and data networking services. Headquartered in Luxembourg, the company generated an annual revenue of $2.10 billion as of 2023.
10. Viasat, Inc. (NASDAQ:VSAT)
Market Cap as of March 29: $2.27 billion
Viasat, Inc. (NASDAQ:VSAT) is a leading satellite communication company. The company specializes in commercial and military SATCOM products, satellite bandwidth services, satellite internet, and satellite telecommunications. As of March 29, Viasat, Inc. (NASDAQ:VSAT) has a market cap of $2.27 billion and is placed 10th on our list.
9. Thales Alenia Space
Annual Revenue (2022): $2.38 billion
Thales Alena Space has an experience of over 40 years providing space solutions such as telecommunication services, earth observation, navigation, space exploration, environmental management, and orbital infrastructures. The company generated a revenue of $2.38 billion in 2022.
8. Globalstar, Inc. (NYSE:GSAT)
Market Cap as of March 29: $2.77 billion
Globalstar, Inc. (NYSE:GSAT) is one of the major satellite communications companies. Its satellite solutions offer enhanced communication and productivity through its low-earth orbit satellite constellation. Headquartered in the US, the company provides its services across 100 countries. As of March 29, Globalstar, Inc. (NYSE:GSAT) has a market cap of $2.77 billion. It is ranked 8th on our list.
7. Lockheed Martin Space, Lockheed Martin Corporation (NYSE:LMT)
Annual Revenue (2023): $3.38 billion
Lockheed Martin Space is one of the major business divisions of Lockheed Martin Corporation (NYSE:LMT), the leading defense and space equipment manufacturing company. The company has built over 300 mission payloads for its customers. Its satellite portfolio includes NASA’s Orion spacecraft and the GOES-R series. It provides services such as designing and building spacecraft, space exploration, and climate observation. Its spacecraft have visited 8 planets and spent over 1,000,000 operational hours in space. The space segment of Lockheed Martin Corporation (NYSE:LMT) generated a revenue of $3.38 billion in 2023. It is ranked 7th on our list.
6. Northrop Grumman Corporation (NYSE:NOC)
Annual Segment Revenue (2023): $3.60 billion
Northrop Grumman Corporation (NYSE:NOC) is ranked 6th on our list of the largest satellite companies in the world. With over 30 years of experience, the company boasts high-performance satellite and space exploration capabilities. Its satellite solutions include protected communication satellites, commercial communication satellites, anti-jam MILASATCOM, science and environment monitoring satellites, and ground systems. Some of the satellites currently in process at its manufacturing site in Virginia include Joint Polar Satellite System (JPSS-2, JPSS-3, and JPSS-4), Ice, Cloud, and Land Elevation Satellite-2 (ICESat-2), ICON, and Landsat-9. In 2023, the space segment of Northrop Grumman Corporation (NYSE:NOC) generated a revenue of $3.60 billion.
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Disclosure: None. 16 Largest Satellite Companies In The World is originally published on Insider Monkey.