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研究生: 紀雲杰
Jih, Yun-Jie
論文名稱: 全球低軌衛星發展之經濟分析—以Starlink為例
Economic Analysis of Global Low Earth Orbit Satellite Expansion: A Case Study of Starlink
指導教授: 陳文字
Chen, Wen-Tzu
學位類別: 碩士
Master
系所名稱: 管理學院 - 電信管理研究所
Institute of Telecommunications Management
論文出版年: 2026
畢業學年度: 114
語文別: 中文
論文頁數: 65
中文關鍵詞: 低軌衛星非地面網路經濟分析成本效益分析星鏈
外文關鍵詞: Low Earth Orbit (LEO), Non-Terrestrial Networks (NTN), Starlink, Commercial Feasibility, Cost–Benefit Analysis
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  • 本研究旨在探討全球低軌衛星網路(Low Earth Orbit, LEO)於未來非地面網路(Non-Terrestrial Networks, NTN)與第六代行動通訊(6G)架構中的發展可行性,聚焦於技術成熟度、發展趨勢與財務可行性之綜合分析。隨著通訊技術邁向地空整合,非地面網路已被3GPP納入5G-Advanced及6G標準核心架構,成為實現全球網路無縫連接的重要途徑。
    本研究首先分析文獻,整理3GPP技術規範、國際主要低軌衛星業者(Starlink、OneWeb、Amazon Kuiper)之發展資料,評估低軌衛星在技術可行性上的發展現況與瓶頸。接著透過動態軌道演算程式分析Starlink在軌衛星之空間分佈,評估其產能利用率;隨後採用情境分析法與羅吉斯成長模型(Logistic Curve),以Starlink歷史數據為基礎,推估不同情境下的潛在用戶數需求規模。最後運用成本效益分析法(CBA)中的淨現值法(NPV),綜合評估在不同經濟環境下的財務可行性與長期營運穩定性。
    研究結果顯示,低軌衛星雖在技術上已成功發射上萬顆衛星,基礎通訊上具備高度可行性,但在經濟層面上,其龐大的初期資本支出與高達 80% 的產能閒置率,導致其在純一般大眾 (B2C) 市場中極難達成財務損益平衡,產業之長期經濟收益來源不能單純仰賴住宅用戶規模,而是需要在技術進步打破自然獨占後,積極拓展航空、海事與國防等高利潤的企業 (B2B) 與政府 (B2G) 市場,將飛越海洋與極地的閒置產能有效變現,方能實現長期的獲利與營運穩定。

    This study evaluates the global development feasibility of Low Earth Orbit (LEO) satellite networks within the evolving Non-Terrestrial Network (NTN) and sixth-generation (6G) communication frameworks. As 3GPP standards increasingly integrate space-based infrastructures into the core 5G-Advanced and 6G architectures, LEO satellites represent a vital technological frontier for achieving universal digital inclusion and network resilience.
    The research adopts a structured multi-methodological approach. It begins with a document analysis of major international operators to identify current technical hurdles and industry bottlenecks. Subsequently, scenario analysis and Logistic growth models are utilized to forecast global market penetration and potential subscriber demand trajectories. Finally, a Cost-Benefit Analysis (CBA) using the Net Present Value (NPV) method provides a rigorous financial assessment of the industry’s long-term sustainability.
    The investigation focuses on the strategic balance between technological advancement and economic reality. Specifically, it addresses the challenges posed by high fixed capital expenditures and the inherent geographic constraints of orbital capacity allocation. The study aims to identify the critical conditions and market strategies, particularly the potential transition from mass-market residential services toward high-value vertical sectors—required to ensure the financial and operational stability of LEO constellations in a competitive global landscape.

    第一章 緒論 1 1.1 研究背景 1 1.2 研究動機 3 1.3 研究目的 5 1.4 研究架構 6 第二章 文獻回顧 7 2.1 低軌衛星(Low Earth Orbit, LEO) 7 2.1.1 低軌衛星的通訊流程 7 2.1.2 低軌衛星的使用場域 9 2.1.3 低軌衛星網路與地面網路之競合 10 2.2 低軌衛星產業的技術布局與成本效益 13 2.2.1 全球低軌衛星產業發展現況 13 2.2.2 全球低軌衛星產業分析與發射計畫 14 2.2.3 衛星間通訊技術(ISL)的發展 14 2.3 低軌衛星產業的發展趨勢 16 2.3.1 Starlink的現有用戶數資料與成長趨勢 16 2.3.2 高固定成本產業的營運模式 17 2.3.3 低軌衛星的經濟可行性與損益平衡點 19 2.3.4 小結 20 第三章 研究方法 21 3.1 研究框架 21 3.2 情境分析法 23 3.3 成本效益分析法 25 第四章 研究結果 26 4.1 低軌衛星在已開通之陸地範圍分布比例分析 26 4.1.1 資料蒐集與動態軌道演算程式碼 26 4.1.2 低軌衛星有效利用率 27 4.1.3 低軌衛星地圖之視覺化呈現 29 4.1.4 小結 32 4.2 Starlink公司的用戶數推算 33 4.2.1 全球市場分級與 ARPU 現況分析 33 4.2.2 羅吉斯成長模型(Logistic Curve)之建立與參數估計 35 4.2.3 用戶數預測與市場規模 36 4.3 Starlink公司的財務評估 39 4.3.1 Starlink公司的成本預估 39 4.3.2 Starlink公司的營收預估 40 4.3.3 營收淨現值之計算結果 44 4.3.4 小結 45 第五章 結論與建議 46 5.1 以Starlink為例之低軌衛星產業發展的經濟分析 46 5.2 研究限制 47 5.3 後續研究及建議 48 參考文獻 49 附錄一、Starlink在保守用戶成長率與高訂價情境之逐年淨現值 52 附錄二、Starlink在樂觀用戶成長率與低訂價情境之逐年淨現值 53

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