[Edaily Reporter Shin Ha-yeon ] Following artificial intelligence (AI), the space industry is emerging as the next-generation growth engine in global capital markets. In particular, as SpaceX—which ushered in the era of commercial space exploration—drives growth in the low-Earth orbit satellite communications market, investor interest is growing across the entire space industry, including satellites, communications equipment, and defense systems.

The space industry has characteristics distinct from those of general manufacturing or the information technology (IT) sector. Once launched into space, satellites and launch vehicles are virtually impossible to repair or replace. Since even a defect in a single small component can lead to mission failure or massive economic losses, thorough verification based on extreme environmental conditions is essential from the development stage onward. This is why the importance of testing and certification infrastructure is becoming increasingly prominent as the space economy expands.

In fact, the National Aeronautics and Space Administration (NASA) defines the core objectives of testing and verification in the space technology development process as “risk reduction” and “flight qualification.” While discovering defects early in development leads to significant cost savings in general industries as well, the importance of pre-launch verification is considered even greater in the space industry, given that modifications after launch are virtually impossible.

SpaceX is a company that symbolizes this trend. Its low-Earth orbit satellite communications business, centered on Starlink, is cited as a prime example that has demonstrated the commercial potential of the space industry. This is the backdrop against which the space industry—which was once confined to the state-led sector—is now being reshaped into a massive market centered on private companies.

Market growth is also rapid. According to market research firm Grand View Research, the global satellite communications market is projected to grow from $98.2 billion in 2025 to $223.0 billion in 2033. The compound annual growth rate (CAGR) is expected to reach 11%. In particular, the low-Earth orbit (LEO) satellite market is forecast to grow at a CAGR of 14% over the same period, reaching $41.3 billion by 2033.

Industry experts predict that as the commercialization of 6th-generation (6G) mobile communications gains momentum, a hyper-connected environment will emerge—one that integrates satellite, aviation, and maritime networks, moving beyond traditional terrestrial base station-centric networks. With the active development of Non-Terrestrial Network (NTN) technologies utilizing low-Earth orbit satellites, satellite communications are emerging as a core pillar of next-generation communications infrastructure.

As the market grows, reliability verification becomes increasingly critical. Satellite communications equipment must withstand not only high-frequency communication environments but also severe vibrations, shocks, vacuum conditions, and extreme temperature fluctuations. Since even a single malfunction can lead to catastrophic consequences, global space agencies and private space companies repeatedly conduct thermal-vacuum (TVAC) testing, vibration testing, shock testing, and electromagnetic compatibility (EMC) testing over a period ranging from several months to several years prior to launch.

In South Korea, as the development of satellite and space components gains momentum, demand for related testing and certification is growing rapidly. With the government also promoting low-Earth orbit satellite communications and the space industry as strategic national industries, the importance of verification infrastructure is expected to grow even further.

Amid this trend, HCT(072990), a company specializing in testing, certification, and calibration, is gaining attention as a provider of high-reliability verification infrastructure for the space and defense sectors. HCT recently began collaborating with the Electronics and Telecommunications Research Institute (ETRI) to establish a reliability verification system for 6G communications and low-Earth orbit satellite communications. Additionally, the company is expanding its presence within the relevant ecosystem by providing RF/EMC testing and environmental reliability testing services to major domestic satellite and telecommunications companies such as Satrec Initiative Co., Ltd., RFHIC CORPORATION, and Asia Pacific Satellite Inc.

The company has accumulated technical expertise in the RF and EMC fields since being designated as Korea’s first private 5G National Designated Testing Laboratory. Since then, it has strengthened its environmental reliability testing capabilities and expanded its business scope into the space and defense sectors. Based on its Defense Reliability Testing Center and thermal vacuum chamber—both completed last year—the company provides one-stop verification services for satellite and defense components.

An industry official stated, “In the era of AI, 6G, and space exploration, the ability to demonstrate reliability is becoming just as important as technological development,” adding, “As system complexity increases, the costs associated with verification failures are bound to rise exponentially.”