Satellite Vessel Tracking Market Size
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 139.51 Million |
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Market Size (2029) | USD 289.64 Million |
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Largest Share by Orbit Class | LEO |
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CAGR (2024 - 2029) | 15.73 % |
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Largest Share by Region | North America |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Satellite Vessel Tracking Market Analysis
The Satellite Vessel Tracking Market size is estimated at USD 139.51 million in 2024, and is expected to reach USD 289.64 million by 2029, growing at a CAGR of 15.73% during the forecast period (2024-2029).
139.51 Million
Market Size in 2024 (USD)
289.64 Million
Market Size in 2029 (USD)
-9.20 %
CAGR (2017-2023)
15.73 %
CAGR (2024-2029)
Largest Market by Satellite Mass
65.57 %
value share, 10-100kg, 2022
Microsatellites with expanded capacity for enterprise data (retail, banking), energy (oil, gas, mining), and governments in developed countries are in high demand. The demand for microsatellites with a low Earth orbit (LEO) is increasing due to their expanded capacity.
Largest Market by End User
62.78 %
value share, Commercial, 2022
The commercial segment is expected to occupy a significant share because of the increasing use of satellites for various telecommunication and vessel tracking services.
Largest Market by Orbit Class
100 %
value share, LEO, 2022
LEO satellites are increasingly being adopted in modern communication technologies. These satellites serve an important role in Earth observation applications.
Largest Market by Satellite Subsystem
80.27 %
value share, Propulsion Hardware and Propellant, 2022
The demand for these propulsion systems is driven by the launch of mass satellite constellations into space. They are used for transferring the spacecraft to the orbit.
Leading Market Player
56.10 %
market share, Spire Global, Inc., Inc.
The company's plan to create a wide network of affordable nanosatellites that orbit Earth’s atmosphere by collecting and tracking accurate and granular data makes it as a largest player in the market.
LEO satellites are expected to lead the segment
- It has been noted that the LEO orbit is widely chosen among the other two orbits because of its proximity to the Earth. Many weather and communication satellites tend to have high Earth orbits farthest from the surface. Satellites in medium Earth orbit include navigational and specialized satellites designed to monitor a specific area. Most vessel tracking satellites and Earth observation satellites are in low Earth orbit.
- Initially, after the introduction of Automatic Identification System (AIS) equipment and its availability, this equipment had a major limitation. The Earth's curvature limits the AIS equipment's horizontal range to about 74 km from shore. However, this information availability challenge has been eliminated with the technological development and introduction of small satellites into low Earth orbit.
- From 2017 to 2022, 115+ satellite vessel tracking satellites manufactured and launched were placed in low Earth orbit because of their added advantages. Various countries across the globe own these satellites for commercial purposes.
- The increasing use of these satellites in areas such as tracking ships to prevent pollution, identifying the movement of dangerous goods, and maritime surveillance is expected to drive the demand for the development of satellites during the forecast period.
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North America is driving the market
- Government agencies in North America have collaborated with the major providers of automatic identification systems (AIS). ORBCOMM Inc., an Internet of Things (IoT) solutions provider, won a multi-year contract from a US government agency to competitively innovate its global automatic identification system (AIS), a data service that is used for vessel tracking and other maritime navigation and safety efforts. In addition, ORBCOMM was awarded a separate competitive contract to provide AIS services to certain other US government users. Hence, growing business activity in the region is expected to drive the market’s growth throughout the forecast period.
- In Europe, France has been extensively concentrating on improving its military capabilities. Airbus was selected to offer its proficiency in strategic ELINT systems using its experience in programs such as PARADOS (radio signal acquisition sensor) and RAMSES (strategic radio and satellite communication information system). These systems are currently in operational service with the French Army, the French Air and Space Force, France’s Defense Intelligence Agency, and the French Navy.
- In order to track ships in the Indian Ocean, India and France formalized the launch of about 10 LEO satellites with AIS technology in 2019. India was also focused on the development of the National Maritime Domain Awareness (NMDA) project, under which the Indian Navy has established the National Command Control Communication Intelligence (NC3I) network that hosts the Information Management and Analysis Centre (IMAC).
Global Satellite Vessel Tracking Market Trends
Global rising demand expected for satellite miniaturization
- The ability of the small satellite to perform nearly all of the functions of a traditional satellite at a fraction of the cost of a traditional satellite has increased the viability of building, launching, and operating small satellite constellations. The demand from North America is primarily driven by the United States, which manufactures the largest number of small satellites annually. In North America, during 2017-2022, a total of 596 nanosatellites were placed into orbit by various players in the region. Currently, NASA is involved in several projects aimed at developing these satellites.
- The demand from Europe is primarily driven by Germany, France, Russia, and the United Kingdom, which manufacture the largest number of small satellites annually. During 2017-2022, more than 50 nano and microsatellites were placed into orbit by various players in the region. The miniaturization and commercialization of electronic components and systems have driven market participation, resulting in the emergence of new market players who aim to capitalize on and enhance the current market scenario. For instance, a UK-based startup, Open Cosmos, partnered with ESA to provide commercial nanosatellite launch services to end users while ensuring competitive cost savings of around 90%.
- The demand from Asia-Pacific is primarily driven by China, Japan, and India, which manufacture the largest number of small satellites annually. During 2017-2022, more than 190 nano and microsatellites were placed into orbit by various players in the region. China is investing significant resources toward augmenting its space-based capabilities. The country has launched the most significant number of nano and microsatellites in Asia-Pacific to date.
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Increasing investment opportunities in the market
- Global government expenditure for space programs in North America hit approximately 103 billion in 2021. The region is the epicenter of space innovation and research, with the presence of the world's biggest space agency, NASA. In 2022, the US government spent nearly USD 62 billion on its space programs, making it the highest spender on space in the world. In the United States, federal agencies receive annual funding from Congress, which is USD 32.33 billion for its subsidiaries.
- Additionally, countries in Europe are recognizing the importance of various investments in the space domain. They are increasing their spending on space activities and innovation to stay competitive and innovative in the global space industry. On this note, in November 2022, ESA announced that it had proposed a 25% boost in space funding over the next three years designed to maintain Europe's lead in Earth observation, expand navigation services, and remain a partner in exploration with the United States. The European Space Agency (ESA) asks its 22 nations to back a budget of EUR 18.5 billion from 2023 to 2025. Germany, France, and Italy are the major contributors.
- Considering the increase in space-related activities in the Asia-Pacific region, in 2022, according to the draft budget of Japan, the space budget of the country was over USD 1.4 billion, which included the development of the H3 rocket, Engineering Test Satellite-9, and the nation's Information Gathering Satellite (IGS) program. Similarly, the proposed budget for India's space programs for FY 2022 was USD 1.83 billion. And in 2022, South Korea's Ministry of Science and ICT announced a space budget of USD 619 million for manufacturing satellites, rockets, and other key space equipment.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Small satellites are poised to create demand in the market
Satellite Vessel Tracking Industry Overview
The Satellite Vessel Tracking Market is fairly consolidated, with the top five companies occupying 142.05%. The major players in this market are HEAD Aerospace, Indian Space Research Organisation (ISRO), Indra Systemmas, Kongsberg and Spire Global, Inc. (sorted alphabetically).
Satellite Vessel Tracking Market Leaders
HEAD Aerospace
Indian Space Research Organisation (ISRO)
Indra Systemmas
Kongsberg
Spire Global, Inc.
Other important companies include Hawkeye360, Kleos Space, SRT marine, Terma, Unseenlabs.
*Disclaimer: Major Players sorted in alphabetical order.
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Satellite Vessel Tracking Market News
- December 2022: HEAD Aerospace Group (HEAD) successfully launched the HEAD-2H satellite. Building upon the satellite-based VDES-system, HEAD Aerospace's Skywalker constellation will provide maritime vessel positioning, operating status monitoring, dual narrow-band communication, etc. to global customers.
- October 2021: HEAD Aerospace Group expands capacity with Ground Receiving Station in Europe.
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Satellite Vessel Tracking Market Report - Table of Contents
1. EXECUTIVE SUMMARY & KEY FINDINGS
2. REPORT OFFERS
3. INTRODUCTION
- 3.1 Study Assumptions & Market Definition
- 3.2 Scope of the Study
- 3.3 Research Methodology
4. KEY INDUSTRY TRENDS
- 4.1 Satellite Mass
- 4.2 Satellite Miniaturization
- 4.3 Spending On Space Programs
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4.4 Regulatory Framework
- 4.4.1 Global
- 4.4.2 Australia
- 4.4.3 Brazil
- 4.4.4 Canada
- 4.4.5 China
- 4.4.6 France
- 4.4.7 Germany
- 4.4.8 India
- 4.4.9 Iran
- 4.4.10 Japan
- 4.4.11 New Zealand
- 4.4.12 Russia
- 4.4.13 Singapore
- 4.4.14 South Korea
- 4.4.15 United Arab Emirates
- 4.4.16 United Kingdom
- 4.4.17 United States
- 4.5 Value Chain & Distribution Channel Analysis
5. MARKET SEGMENTATION (includes market size in Value in USD, Forecasts up to 2029 and analysis of growth prospects)
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5.1 Satellite Mass
- 5.1.1 10-100kg
- 5.1.2 100-500kg
- 5.1.3 Below 10 Kg
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5.2 Orbit Class
- 5.2.1 GEO
- 5.2.2 LEO
- 5.2.3 MEO
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5.3 Satellite Subsystem
- 5.3.1 Propulsion Hardware and Propellant
- 5.3.2 Satellite Bus & Subsystems
- 5.3.3 Solar Array & Power Hardware
- 5.3.4 Structures, Harness & Mechanisms
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5.4 End User
- 5.4.1 Commercial
- 5.4.2 Military & Government
- 5.4.3 Other
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5.5 Region
- 5.5.1 Asia-Pacific
- 5.5.2 Europe
- 5.5.3 North America
- 5.5.4 Rest of World
6. COMPETITIVE LANDSCAPE
- 6.1 Key Strategic Moves
- 6.2 Market Share Analysis
- 6.3 Company Landscape
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6.4 Company Profiles (includes Global Level Overview, Market Level Overview, Core Business Segments, Financials, Headcount, Key Information, Market Rank, Market Share, Products and Services, and Analysis of Recent Developments).
- 6.4.1 Hawkeye360
- 6.4.2 HEAD Aerospace
- 6.4.3 Indian Space Research Organisation (ISRO)
- 6.4.4 Indra Systemmas
- 6.4.5 Kleos Space
- 6.4.6 Kongsberg
- 6.4.7 Spire Global, Inc.
- 6.4.8 SRT marine
- 6.4.9 Terma
- 6.4.10 Unseenlabs
7. KEY STRATEGIC QUESTIONS FOR SATELLITE CEOS
8. APPENDIX
-
8.1 Global Overview
- 8.1.1 Overview
- 8.1.2 Porter's Five Forces Framework
- 8.1.3 Global Value Chain Analysis
- 8.1.4 Market Dynamics (DROs)
- 8.2 Sources & References
- 8.3 List of Tables & Figures
- 8.4 Primary Insights
- 8.5 Data Pack
- 8.6 Glossary of Terms
List of Tables & Figures
- Figure 1:
- SATELLITE MASS (ABOVE 10KG) GLOBALLY, NUMBER OF SATELLITES LAUNCHED, GLOBAL, 2017 - 2022
- Figure 2:
- MINIATURE SATELLITES (BELOW 10KG), NUMBER OF LAUNCHES, GLOBAL, 2017 - 2022
- Figure 3:
- SPENDING ON SPACE PROGRAMS GLOBALLY, USD, GLOBAL, 2017 - 2022
- Figure 4:
- GLOBAL SATELLITE VESSEL TRACKING MARKET, VALUE, USD, 2017 - 2029
- Figure 5:
- VALUE OF SATELLITE VESSEL TRACKING MARKET BY SATELLITE MASS, USD, GLOBAL, 2017 - 2029
- Figure 6:
- VALUE SHARE OF SATELLITE VESSEL TRACKING MARKET BY SATELLITE MASS, %, GLOBAL, 2017 VS 2023 VS 2029
- Figure 7:
- VALUE OF 10-100KG MARKET, USD, GLOBAL, 2017 - 2029
- Figure 8:
- VALUE OF 100-500KG MARKET, USD, GLOBAL, 2017 - 2029
- Figure 9:
- VALUE OF BELOW 10 KG MARKET, USD, GLOBAL, 2017 - 2029
- Figure 10:
- VALUE OF SATELLITE VESSEL TRACKING MARKET BY ORBIT CLASS, USD, GLOBAL, 2017 - 2029
- Figure 11:
- VALUE SHARE OF SATELLITE VESSEL TRACKING MARKET BY ORBIT CLASS, %, GLOBAL, 2017 VS 2023 VS 2029
- Figure 12:
- VALUE OF GEO MARKET, USD, GLOBAL, 2017 - 2029
- Figure 13:
- VALUE OF LEO MARKET, USD, GLOBAL, 2017 - 2029
- Figure 14:
- VALUE OF MEO MARKET, USD, GLOBAL, 2017 - 2029
- Figure 15:
- VALUE OF SATELLITE VESSEL TRACKING MARKET BY SATELLITE SUBSYSTEM, USD, GLOBAL, 2017 - 2029
- Figure 16:
- VALUE SHARE OF SATELLITE VESSEL TRACKING MARKET BY SATELLITE SUBSYSTEM, %, GLOBAL, 2017 VS 2023 VS 2029
- Figure 17:
- VALUE OF PROPULSION HARDWARE AND PROPELLANT MARKET, USD, GLOBAL, 2017 - 2029
- Figure 18:
- VALUE OF SATELLITE BUS & SUBSYSTEMS MARKET, USD, GLOBAL, 2017 - 2029
- Figure 19:
- VALUE OF SOLAR ARRAY & POWER HARDWARE MARKET, USD, GLOBAL, 2017 - 2029
- Figure 20:
- VALUE OF STRUCTURES, HARNESS & MECHANISMS MARKET, USD, GLOBAL, 2017 - 2029
- Figure 21:
- VALUE OF SATELLITE VESSEL TRACKING MARKET BY END USER, USD, GLOBAL, 2017 - 2029
- Figure 22:
- VALUE SHARE OF SATELLITE VESSEL TRACKING MARKET BY END USER, %, GLOBAL, 2017 VS 2023 VS 2029
- Figure 23:
- VALUE OF COMMERCIAL MARKET, USD, GLOBAL, 2017 - 2029
- Figure 24:
- VALUE OF MILITARY & GOVERNMENT MARKET, USD, GLOBAL, 2017 - 2029
- Figure 25:
- VALUE OF OTHER MARKET, USD, GLOBAL, 2017 - 2029
- Figure 26:
- VALUE OF SATELLITE VESSEL TRACKING MARKET BY REGION, USD, GLOBAL, 2017 - 2029
- Figure 27:
- VALUE SHARE OF SATELLITE VESSEL TRACKING MARKET BY REGION, %, GLOBAL, 2017 VS 2023 VS 2029
- Figure 28:
- VALUE OF SATELLITE VESSEL TRACKING MARKET, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 29:
- VALUE OF SATELLITE VESSEL TRACKING MARKET, USD, EUROPE, 2017 - 2029
- Figure 30:
- VALUE OF SATELLITE VESSEL TRACKING MARKET, USD, NORTH AMERICA, 2017 - 2029
- Figure 31:
- VALUE OF SATELLITE VESSEL TRACKING MARKET, USD, REST OF WORLD, 2017 - 2029
- Figure 32:
- NUMBER OF STRATEGIC MOVES OF MOST ACTIVE COMPANIES, GLOBAL SATELLITE VESSEL TRACKING MARKET, ALL, 2017 - 2029
- Figure 33:
- TOTAL NUMBER OF STRATEGIC MOVES OF COMPANIES, GLOBAL SATELLITE VESSEL TRACKING MARKET, ALL, 2017 - 2029
- Figure 34:
- MARKET SHARE OF GLOBAL SATELLITE VESSEL TRACKING MARKET, %, ALL, 2022
Satellite Vessel Tracking Industry Segmentation
10-100kg, 100-500kg, Below 10 Kg are covered as segments by Satellite Mass. GEO, LEO, MEO are covered as segments by Orbit Class. Propulsion Hardware and Propellant, Satellite Bus & Subsystems, Solar Array & Power Hardware, Structures, Harness & Mechanisms are covered as segments by Satellite Subsystem. Commercial, Military & Government are covered as segments by End User. Asia-Pacific, Europe, North America are covered as segments by Region.
- It has been noted that the LEO orbit is widely chosen among the other two orbits because of its proximity to the Earth. Many weather and communication satellites tend to have high Earth orbits farthest from the surface. Satellites in medium Earth orbit include navigational and specialized satellites designed to monitor a specific area. Most vessel tracking satellites and Earth observation satellites are in low Earth orbit.
- Initially, after the introduction of Automatic Identification System (AIS) equipment and its availability, this equipment had a major limitation. The Earth's curvature limits the AIS equipment's horizontal range to about 74 km from shore. However, this information availability challenge has been eliminated with the technological development and introduction of small satellites into low Earth orbit.
- From 2017 to 2022, 115+ satellite vessel tracking satellites manufactured and launched were placed in low Earth orbit because of their added advantages. Various countries across the globe own these satellites for commercial purposes.
- The increasing use of these satellites in areas such as tracking ships to prevent pollution, identifying the movement of dangerous goods, and maritime surveillance is expected to drive the demand for the development of satellites during the forecast period.
| Satellite Mass | 10-100kg |
| 100-500kg | |
| Below 10 Kg | |
| Orbit Class | GEO |
| LEO | |
| MEO | |
| Satellite Subsystem | Propulsion Hardware and Propellant |
| Satellite Bus & Subsystems | |
| Solar Array & Power Hardware | |
| Structures, Harness & Mechanisms | |
| End User | Commercial |
| Military & Government | |
| Other | |
| Region | Asia-Pacific |
| Europe | |
| North America | |
| Rest of World |
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Market Definition
- Application - Various applications or purposes of the satellites are classified into communication, earth observation, space observation, navigation, and others. The purposes listed are those self-reported by the satellite’s operator.
- End User - The primary users or end users of the satellite is described as civil (academic, amateur), commercial, government (meteorological, scientific, etc.), military. Satellites can be multi-use, for both commercial and military applications.
- Launch Vehicle MTOW - The launch vehicle MTOW (maximum take-off weight) means the maximum weight of the launch vehicle during take-off, including the weight of payload, equipment and fuel.
- Orbit Class - The satellite orbits are divided into three broad classes namely GEO, LEO, and MEO. Satellites in elliptical orbits have apogees and perigees that differ significantly from each other and categorized satellite orbits with eccentricity 0.14 and higher as elliptical.
- Propulsion tech - Under this segment, different types of satellite propulsion systems have been classified as electric, liquid-fuel and gas-based propulsion systems.
- Satellite Mass - Under this segment, different types of satellite propulsion systems have been classified as electric, liquid-fuel and gas-based propulsion systems.
- Satellite Subsystem - All the components and subsystems which includes propellants, buses, solar panels, other hardware of satellites are included under this segment.
| Keyword | Definition |
|---|---|
| Attitude Control | The orientation of the satellite relative to the Earth and the sun. |
| INTELSAT | The International Telecommunications Satellite Organization operates a network of satellites for international transmission. |
| Geostationary Earth Orbit (GEO) | Geostationary satellites in Earth orbit 35,786 km (22,282 mi) above the equator in the same direction and at the same speed as the earth rotates on its axis, making them appear fixed in the sky. |
| Low Earth Orbit (LEO) | Low Earth Orbit satellites orbit from 160-2000km above the earth, take approximately 1.5 hours for a full orbit and only cover a portion of the earth’s surface. |
| Medium Earth Orbit (MEO) | MEO satellites are located above LEO and below GEO satellites and typically travel in an elliptical orbit over the North and South Pole or in an equatorial orbit. |
| Very Small Aperture Terminal (VSAT) | Very Small Aperture Terminal is an antenna that is typically less than 3 meters in diameter |
| CubeSat | CubeSat is a class of miniature satellites based on a form factor consisting of 10 cm cubes. CubeSats weigh no more than 2 kg per unit and typically use commercially available components for their construction and electronics. |
| Small Satellite Launch Vehicles (SSLVs) | Small Satellite Launch Vehicle (SSLV) is a three-stage Launch Vehicle configured with three Solid Propulsion Stages and a liquid propulsion-based Velocity Trimming Module (VTM) as a terminal stage |
| Space Mining | Asteroid mining is the hypothesis of extracting material from asteroids and other asteroids, including near-Earth objects. |
| Nano Satellites | Nanosatellites are loosely defined as any satellite weighing less than 10 kilograms. |
| Automatic Identification System (AIS) | Automatic identification system (AIS) is an automatic tracking system used to identify and locate ships by exchanging electronic data with other nearby ships, AIS base stations, and satellites. Satellite AIS (S-AIS) is the term used to describe when a satellite is used to detect AIS signatures. |
| Reusable launch vehicles (RLVs) | Reusable launch vehicle (RLV) means a launch vehicle that is designed to return to Earth substantially intact and therefore may be launched more than one time or that contains vehicle stages that may be recovered by a launch operator for future use in the operation of a substantially similar launch vehicle. |
| Apogee | The point in an elliptical satellite orbit which is farthest from the surface of the earth. Geosynchronous satellites which maintain circular orbits around the earth are first launched into highly elliptical orbits with apogees of 22,237 miles. |
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Research Methodology
Mordor Intelligence follows a four-step methodology in all our reports.
- Step-1: Identify Key Variables: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
- Step-2: Build a Market Model: Market-size estimations for the historical and forecast years have been provided in revenue and volume terms. For sales conversion to volume, the average selling price (ASP) is kept constant throughout the forecast period for each country, and inflation is not a part of the pricing.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms.
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