Author/Baked bun under the stars
Edit/Spinach Starry Sky
Typography/Fried liver under the stars
We often say that we should not only look down and do things, but also look up at the stars. So I looked up at the starry sky and saw several major events that had happened in the space circle recently.
The first is that Musk's Space X has launched 49 StarLink Internet satellites. As a result, the total number of Starlink satellites exceeds 2,000. The Starlink project, announced in January 2015, aims to launch approximately 12,000 communications satellites into space and form a new communications network to provide Internet access for Internet users around the world.
Communication will inevitably involve communication security issues, and it is better to use other people's networks than to build a network yourself. If you don't have one, you have to pay the service fee for using someone else's. Therefore, in the competition of major powers, communication is also a place of contention.
The Beacon Nation has set the bar, and we must not be left too far behind in the space campaign. Two days ago, Galaxy Aerospace independently developed the first batch of 6 low-orbit broadband communication satellites, if successfully launched in the first quarter of this year, it can achieve more than 30 minutes of continuous communication services. The recently released 14th Five-Year Plan for the Development of the Digital Economy also proposes to promote the construction of satellite Internet.
Finance
In addition, the leaders in various fields are also eyeing this sea blue market.
1. BMW, the bearer of the automotive industry, is ready to develop the on-board satellite Internet;
2. Amazon directly acquired Meta's (formerly Facebook)'s satellite Internet team;
3. The satellite Internet submitted by Boeing was also approved.
The author's view has always been that the sustainable development of an industry is not a single point of breakthrough, but a hundred flowers blooming. There are so many laying the groundwork in front, the author will take you today to unveil the veil of the satellite Internet and explore the industry.
First, the "base station" in space
We say that there are three main functions of a satellite: communication, remote sensing and navigation. The satellite Internet is a combination of communication satellites and the Internet, through the satellite scale to form a network (networking), to achieve the important expansion of the information network from flat to three-dimensional. If satellites are classified according to the height of satellite orbits, low-orbit communication satellites are becoming an inevitable choice for satellite Internet with a series of advantages such as lightweight, low cost and flexible launch.
Satellite Orbit Segmentation Classification (CNKI)
You may be wondering, is it possible for countries to launch without restrictions? Not drops, the Earth's low-Earth orbit can only accommodate a total of about 60,000 satellites, this "pit" is essentially a scarce resource, so it is particularly important to obtain a first-mover advantage, and having its own space orbit and frequency band is a prerequisite for the normal operation of communication satellites. The agency also predicted that in 7 years, there will be very little orbit left for low-orbit satellites.
Satellite Internet plans of major companies (company website)
Playing a good game of chess and fighting the active battle is a cross motto facing the development of the satellite Internet in various countries.
Global Low Earth Orbit Satellite Forecasts 2029 (SADI Consultants)
So the base stations that exist on the ground now are not fragrant? Incense, just say that the satellite internet exists as a better supplement.
First, the satellite Internet can solve the problem of the difficulty of covering the ground communication network in the desert, ocean, mountainous areas and other areas, and the demand of this part is mainly driven by the temple to meet, after all, it can not simply consider the economic benefits of this account;
Second, do you want to use the network in the aircraft one day? Satellite links could make dreams come true. Simply calculate the account for you, the global annual aircraft transportation volume is about 4 billion person-times, the conservative estimated penetration rate is 10%, the per capita usage cost is 10 yuan, and the market size of the satellite Internet in this segment can reach 4 billion yuan every year;
Third, the Internet of Things is an important way for the intelligent development of today's society, and the satellite Internet can effectively take care of the blind spots on the ground and effectively expand the tentacles of the Internet of Things. Taking intelligent driving with great growth potential this year as an example, the satellite network provides a good infrastructure guarantee for the Internet of Vehicles with the advantage of low latency, which is also the logic behind the AUTHOR's opening bmw big brother to enter this field so urgently.
Satellite Internet application scenarios
Second, the further downstream you look, the more gold there is
If we open the industrial chain of satellites, you will find that the industrial chain of satellites mainly includes four major links: satellite manufacturing, satellite launch, ground equipment manufacturing, and satellite operation. The advantages of mainland players are mainly concentrated in the field of satellite development and launch, and there is still a large space for satellite operations to catch up.
Structure of satellite industry chain (iResearch)
From the perspective of the value chain, the author found a very interesting map, the satellite industry chain presents a very typical pyramid distribution. The closer to the downstream, the higher the player's right to speak, followed by the company's higher EBITDA (EBITDA), satellite operations have reached 50%-80%, and the upstream needs to make timely strategic adjustments according to the needs of the downstream.
Satellite Industry Value Chain (SIA 2019)
Since the cake is getting sweeter and sweeter, let's just talk about the sweetest piece of cake (satellite operation service market).
This market is the highest segment of the value chain, with a market size of more than $100 billion. At present, the main satellite communications are mainly based on television broadcasting (occupying 3/4 of the market share), as of the end of 2018, the number of mainland satellite live TV users totaled 110 million users, only China Satcom, China Telecom and CITIC Digital Media Network three players have obtained relevant qualifications, and there are only more than 40 major fixed communication satellite operators in the world. Therefore, the industry pattern is relatively stable.
Satellite Operations Panorama (CCID Consultants)
Third, in the next ten years, see whose hands the deer dies
Looking forward to the future, the next decade is a critical period for the satellite Internet, and private enterprises or state-owned enterprises in various countries believe that they will accelerate the deployment of low-orbit satellite Internet constellations to seize this scarce resource.
Low-orbit satellites are not a replacement for terrestrial communication networks, but a kind of coverage in remote emergency communications, Internet of Things, military equipment communications and other areas that require higher network timeliness.
For value investors, planning ahead is a good choice. Just like Baillie Gifford invested in Tesla, which was in crisis in 2013, BG's ten-year honeymoon with Tesla is still talked about by posterity.
And you, are you ready?
Note: This article does not constitute any investment advice. The stock market is risky, and you need to be cautious when entering the market. There is no harm in buying and selling.