Photo: Star link
According to a new estimate of the consulting company Kirty Space, the Space X star link business has grown over consumer subscriber, government contracts, shipping and aviation, and the star link revenue in 2024 is compared to 2023. Increased more than twice.
Quilty Space estimates that the total profits of Star Links in 2024 were $ 7.8 billion, compared to the estimated $ 2.9 billion in 2023. This estimation of revenue includes a star link service, hardware, and a star link government contract.
Quilty Space has implemented a detailed analysis of Starlink’s financial status, but this is not published, so reports include uncertainty. However, SpaceX reported a specific number of subscribers in the update in December 2024, and Quilty Space took that into account. The report focuses only on the Starlink business, not the SPACEX launch project.
Starlink’s 2024 progress report reported that Constellation had ended in 2024 with 4.6 million active customers. This is more than twice as much as the company Report for September 2023 When it exceeds 2 million.
QUILTY’s survey director Caleb Henry pointed out that the number of subscribers of Hughes Network Systems and Viasat, a competing company of satellite broadband, was 2.2 million at the peak of around 2020. I think it is big.
“What the Star Link has achieved has reached more than twice the market size than what has been achieved in the existing satellite system so far, and a much wider area of the world,” said Henry. Was told. “One of the helps of Starlink is to add more markets, hold global networks, and more and more capacity satellites with more capacity. We believe that the system has been enhanced and has been enhanced.
Despite growth, it does not match Spacex’s own early predictions. According to Wall Street Journal, an article by Ars Technica, Space X sent an investor in 2015, claiming that the starlink subscriber would be 20 million by 2022.
Quilty Space predicts that Starlink has reached 7.6 million in 2025, and in 2025 it will reach $ 12.3 billion.
Quilty Space estimates that in 2025, 1.2 million new subscribers from Africa and Asia will be. The company also predicts that Star link will get market access in India in 2025.
The company also estimated the profits by star link segment by analyzing the publicly reported government contracts and the publicly reported connection ships, aircraft and subscriber. QUILTY’s report states that consumer services account for 62% of the STARLINK revenue in 2024, which accounts for 28% of the government, followed by 8% of maritime and 2%.
Kim Bark, the director in charge of Kirty, said that the team investigated the contract and subcontracting with hundreds of unpopular Space X governments and dealt with a Star link to build a financial model of government income. He explained that the contract was separated.
QUILTY’s report states that the government has contributed to Starlink’s earnings of about $ 2 billion in 2024, which predicts that it will reach $ 3 billion in 2025. One of the important contracts is a PLEO contract with the US Space Army, and the Space Army acknowledges that Starlink has confirmed it. Gained the largest share of ~。
“The former Star Rink military program, which used to be test mode, is currently preparing for a complete operation development. Navy ships, which were testing the star link on board, are expanding for full -scale deployment. This change is expected to increase the profits in 25 and 26.
Mobility market growth
In the mobility market, conventional satellite telecommunications carriers have already felt the impact of the entry of the star link. Maritime market and In -flight connection。
According to Star Link 2024 progress report, the company has connected more than 75,000 ships, including 450 aircraft and more than 300 cruise ships.
The company’s co -operating officer, Chris Kirti, had a Star link maritime business, even though the entire sea business world had a base for about 45,000 uniforms (GEO) VSAT terminals. Was surprising and said that it exceeded the in -house forecast of Quill Tea.
Some of these subscribers have eaten the conventional GEO VSAT installation base, but the star link may be redefined on fishing boats, inland boats, recreation ships, etc. He said it was expensive.
“What is not mentioned here is that Star Links are clearly growing the market and expanding pies,” Kirti said.
And in the aviation of the Kirty Space as the smallest starlink market, Star Links still have advanced to traditional satellite customers, such as Air France and United Airlines.
“Service level aggress was not the gatekeeper that many people in the IFC market expected,” said Bark. “Star link flexible contracts and the time of installation at 24 hours, and fiber -like speeds recorded on the sea on Hawaiian Airlines flights are the initial business jet. It seems to be pushed beyond the niche market. “
The Quilty Space report states that Starlink will add 1,300 air terminal facilities in 2025. Some aircraft have two aircraft terminals, so the aircraft installation base is reduced.
Mr. Bark commented that the aviation service level contract was not the gatekeeper that the people expected, but that the aviation industry customers were interested in the flexible contract and high speed of the starlink.
But Bark said that Star Link was hindered in the air market due to the congestion, transportation capacity of the hub city, and the regulation access to various markets. “Star links are about 90 countries, but in places like India, services are still hit by power outages. It is a multi -oral air terminal, GEO backup, or air -to -ground (connection). One of the reasons for the powerful business case still exists, “she said.
