The Business Imperative for Modularity in Communications Satellites

摘要

The satellite communications sector is simultaneously experiencing a renaissance and a crisis of identity as it struggles to adjust to the arrival of High-Throughput-Satellite (HTS) assets that have increased the overall market capacity by a factor of 3x or greater. The rapid expansion of content delivery worldwide, growth in mobile satellite services, and downward pricing pressures as a result of overcapacity and terrestrial competition are pushing these operators to reconsidcr their business models and future growth strategies. This paper explores how operational challenges, changing market trends, and new technological innovations are presenting an emerging market opportunity that few-can afford to ignore: small, modular communications satellites. Leveraging initial research performed under a multi-year study by SpaceWorks Enterprises, this analysis details how small, modular spacecraft have the potential to dramatically disrupt the communications sector and enable innovative business models with novel financing approaches. The paper establishes the customer value proposition for small. modular communications satellites and highlights how this value proposition helps to alleviate significant challenges inherent to today's satellite operators. Finally, this paper considers a theoretical case study of modular satellite infrastructure vs. traditional High throughput Systems from a financial perspective and examines what market scenarios create a viable climate for the use of such modular infrastructure. Although economies of scale recently achieved by HTS systems have substantially brought down the cost per bit, lower utilization rates, asset failures, and the high cost of borrowing capital make the calculations more complicated. Based on the case studies performed as part of this analysis, it appears as though smaller, modular communications platforms present a similar financial return to their larger HTS brethren and are particularly attractive in volatile demand