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Rising Penetration Rate of Satellite Services Drives Component Manufacturers into Satellite Supply Chains; Global Market Value Expected to Reach US$357 Billion by 2025, Says TrendForce

26 June 2024

TrendForce’s latest report, "Key Drivers of Satellite Industry Development: Strategies and Challenges of Major LEO Satellite Suppliers,” reveals that the rising penetration rate of LEO satellite services is urging component manufacturers across the globe to integrate into the supply chains of Starlink and OneWeb. The global satellite market value is projected to grow from $283 billion in 2021 to $357 billion by 2025, at a CAGR of 2.6%.