Strategy Analytics forecasts the total Commercial Satellite market will approach $76.4 billion in 2028,. The total number of satellite shipments is forecast to grow at a CAGR of 10.1% through 2028. The analysis further segments the market in terms of region, orbit and mission/function. Communications satellites will continue to represent the largest market both in dollar and shipment terms, with the increasing uptake of small satellite-based broadband networks and advances in data analytics, artificial intelligence, software-defined programming and digital technologies driving satellite subsystem and component growth.
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