Satellite Component Market Size

The global satellite component market was valued at USD 3 billion in 2024 and is estimated to grow at a CAGR of 7.1% from 2025 to 2034. The increasing need for reliable, global communications has spurred significant demand for satellite-based solutions. These satellites provide high-speed internet, television broadcasting, and secure communications in remote or underserved areas where terrestrial infrastructure is limited or inefficient.

As organizations and governments focus on digital transformation, satellites offer crucial connectivity for services such as telemedicine, education, and financial transactions. Additionally, the evolution towards 5G networks and the Internet of Things (IoT) is increasing demand for low-latency, wide-coverage satellite systems.

The liberalization of space policies, including allowing full foreign ownership in satellite manufacturing, directly supports the expansion of global satellite constellations. Countries can become key hubs for building and launching low-cost satellites for global connectivity, with the involvement of major players like SpaceX and Blue Origin. This policy shift enables faster, scalable production of satellites needed for large constellations, particularly for underserved regions. As a result, it improves internet access, communication, and data services worldwide, while enhancing global satellite network efficiency. For instance, In February 2024, India announced plans to permit 100% foreign direct investment in satellite-component manufacturing and relax foreign investment regulations for satellite construction. This initiative aims to increase India's market share in the global space industry, projected to reach $47.3 billion by 2032. The decision is part of a comprehensive liberalization of space policy designed to attract investments from major companies such as SpaceX and Blue Origin.