The case can be made that a key metric for the commercial space communication sector is the utilization rate, or load factor, of a satellite or a fleet of satellites. In this paper, we first discuss average load factors of fleet of satellites, and then propose that the loading of a single satellite can be modeled as a stochastic process. To illustrate our proposition, we collected and analyzed load factor data of 20 one communication satellites launched between 1980 and late 1990s. We conducted time series analysis and built analytical models for the evolution of utilization rates, or loading dynamics, of a communication satellite. We found consistent results that exhibit three different loading patterns, with a load factor ramp-up, a steady-state load factor during the service life of the satellite, and a decline in load factor after several years of on-orbit service. We further discuss these results and the factors that drive satellite loading dynamics, from the supply/demand (im)balance of on-orbit bandwidth to customer churn from aging transponders and switching towards newer more powerful units. Results should prove useful to satellite operators and industry observers; they also improve the forecast for determining financially optimal satellite design lifetimes.
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