Satellite NTN Market to Surpass USD 6.7 Billion by2034, Growing at 36.1% CAGR
The global satellite NTN market was valued at USD 310.2 million in 2024 and is estimated to
grow at a CAGR of 36.1% to reach USD 6.7 billion by 2034, according to recent report by
Global Market Insights Inc.
This remarkable growth is largely driven by the rising global demand for high-speed
broadband connectivity, especially in underserved regions. The continued rollout of 5G
networks incorporating NTN infrastructure is playing a key role in market expansion.
Integration of NTN into 3GPP’s Release 17 and beyond has created a more seamless link
between terrestrial and satellite networks, improving coverage in rural and hard-to-reach
areas. Investment in low Earth orbit (LEO) satellite systems is surging, with companies
significantly expanding their satellite fleets to fill connectivity gaps worldwide. As telecom
providers look for more resilient and scalable infrastructure, satellite-based NTN solutions
are being deployed to strengthen terrestrial systems-particularly in regions where network
infrastructure is sparse. Emerging economies like Brazil, South Africa, and India are rapidly
adopting these technologies, backed by national efforts to close the digital divide through
satellite services and supporting ground installations.
The satellite NTN market from NTN-NR technology held a 63.4% share in 2024 due to its
compatibility with 5G standards, offering high data throughput and ultra-low latency for
mobile and IoT applications. Increasing government support and telecom operator
investment in 5G NTN rollouts are further accelerating the momentum of this segment. The
integration of NTN-NR systems is enabling smoother user experiences and driving
innovation across IoT, logistics, and mobile sectors.
The commercial application segment held 54.8% share in 2024, propelled by growing
demand for broadband access, digital content delivery, and enterprise IoT solutions. As
digital transformation becomes a strategic priority for businesses, organizations are investing
in satellite NTN to improve network continuity, speed, and scalability. From media to logistics
and cloud-based services, commercial users are turning to these solutions for dependable
coverage across diverse geographies.
North America satellite NTN market held a 35.1% share in 2024, supported by early 5G NTN
adoption, an established satellite infrastructure, and substantial investments in LEO
systems. The presence of key technology companies and a robust user base, along with
strong regulatory and funding support, continues to drive regional leadership. Businesses
aiming to scale in this region should focus on partnerships with local telecom carriers and
public-sector agencies to extend satellite coverage to underserved rural zones, particularly
by leveraging low-latency solutions and broadband grants.
Key companies shaping the global satellite NTN market include Lockheed Martin, OneWeb,
L3Harris Technologies, Teledyne Technologies, Viasat Inc., Ericsson, SES S.A., Space
Exploration Technologies Corp. (SpaceX), SWISSto12, and Telesat. To maintain a
competitive edge in the satellite NTN industry, companies are pursuing strategic
collaborations with telecom carriers and governments to scale 5G NTN coverage. Leading
players are expanding their LEO satellite constellations to deliver low-latency, high-
throughput services across remote and urban markets. They are also investing in next-gen
ground infrastructure, edge integration, and adaptive waveform technology to meet evolving
data needs. Emphasis on R&D, scalable platform solutions, and cloud-based connectivity
services is helping brands cater to enterprise demand and emerging IoT use cases. The
strategic government partnerships support infrastructure deployment in underserved areas.
Source – https://www.gminsights.com/industry-analysis/satellite-ntn-market
