Global revenues for the satellite industry totaled $160.9 billion in 2009, resulting in an average annual growth rate of 11.7 percent over the last five years, according to a report released June 8 by the Washington-based Satellite Industry Association (SIA).
Despite a global economic downturn that continued through 2009 for much of the world, satellite industry revenue rose 11 percent, or some $16.5 billion, over 2008 with satellite manufacturing and launch services leading the way as the two fastest-growing segments.
Manufacturing revenue grew 29 percent, from $10.5 billion in 2008 to $13.5 billion in 2009, as larger and higher-value satellites were launched, according to SIA.
Launch industry revenue rose 18 percent in 2009, with the United States share of the market growing from $1.1 billion to $1.9 billion.
Satellite services held steady at 11 percent year-over-year growth, with satellite television leading the sector to $71.8 billion in total revenue for 2009. Satellite ground equipment revenue was up 8 percent, to $49.9 billion, led by consumer products such as satellite TV, broadband Internet and GPS devices.
U.S. companies contributed to the industry’s overall growth even as many of them shed employees. As of the third quarter of 2009, U.S. satellite industry employment was down 5.5 percent compared with the last quarter of 2008. SIA plans to release fourth-quarter results for 2009 in August.