In recent years, propelled by a new wave of the global industrial revolution, the global space industry has entered a transformative phase characterized by significant growth and change.

The traditional model of state-led initiatives has shifted, with commercial spaceflight emerging as a pivotal force driving innovation and expansion within the sector.

Spearheading this evolution is SpaceX, the renowned space technology company, which has achieved landmark advancements in liquid fuel rocket launch and reusable rocket technology, revolutionizing the history of spaceflight.

SpaceX has not only achieved milestones in technology but has also introduced pioneering business models, such as star-chain broadband for private network communication, satellite launch services for satellite manufacturing, and commercial human spaceflight and transportation.

These initiatives have opened up new frontiers for the application of space technology, broadening the scope of the space industry.

Commercial aerospace enterprises, exemplified by SpaceX, are instrumental in propelling the rapid development of the global space industry through their commitment to technological innovation and the implementation of novel business strategies.

Examining the composition of the global space industry, it is evident that the satellite sector remains dominant. Since 2016, the satellite industry has consistently accounted for over 70% of the total space industry, reaching 72.3% in 2021. Meanwhile, non-satellite industries represent the remaining 27.7% of the sector.

Non-satellite industry revenues within the global space sector encompass civilian space revenues from more than 70 countries, data revenues from the European Space Agency, and revenues generated by supply missions to the International Space Station and other human space programs.

According to statistics from the Space Industry Association (SIA), the non-satellite industry has experienced steady growth since 2016, with revenues reaching $107 billion in 2021, reflecting a year-on-year increase of 6.3%.

Within the satellite industry, four primary sectors dominate satellite services, satellite manufacturing, launch services, and ground equipment manufacturing. Satellite services and ground equipment manufacturing hold the largest market shares within the satellite industry.

Satellite services encompass a range of offerings including mass communication consumer services, fixed satellite communication services, mobile satellite communication services, and earth observation services. Ground equipment manufacturing includes satellite navigation equipment (GNSS), network equipment, and consumer electronics.

According to SIA data, the global satellite industry has also seen consistent growth since 2016, with revenues reaching $279.4 billion in 2021, marking a year-on-year increase of 3.3%.

Notably, the structure of the satellite industry has undergone significant shifts in recent years, with ground equipment manufacturing emerging as the leading segment. In 2021, the ground equipment manufacturing industry accounted for 51% of total satellite industry revenues, surpassing satellite services.

This shift underscores the growing importance of ground equipment in enabling satellite-based technologies and services. Meanwhile, satellite services accounted for 42% of total satellite industry revenues in 2021.

The global space industry is undergoing a period of dynamic evolution, driven by advancements in commercial spaceflight and the continued dominance of satellite technologies. As commercial enterprises continue to innovate and expand their reach, the possibilities for leveraging space for societal benefit are limitless.

In addition to the remarkable progress made by commercial space ventures like SpaceX, other players in the global space industry are also contributing to its growth and diversification. Emerging technologies such as small satellite constellations, lunar exploration missions, and space tourism initiatives are reshaping the landscape of space exploration and utilization.