NAICS 517112 Quarterly Industry Report
Wireless Telecommunications Carriers (except Satellite)
Comprehensive industry research for valuation professionals, business owners, buyers, and lenders
NAICS Code: 517112Sector: Information (51)Updated: Q1 2026
About This Report
Fair Market Value compiles this NAICS 517112 industry report using data from the U.S. Census Bureau[7], the Bureau of Labor Statistics[8], and the Small Business Administration[9]. Our research team analyzes subscriber metrics, average revenue per user, churn rates, and spectrum valuations to produce benchmarks for wireless carrier operations. This report on NAICS 517112 is updated quarterly to reflect 5G deployment progress and competitive market dynamics.
Industry Snapshot
Key metrics for the wireless telecommunications carriers (except satellite) industry.
Industry Definition & Overview
Wireless Telecommunications Carriers (except Satellite) (NAICS 517112) encompasses establishments that operate and maintain switching and transmission facilities to provide communications via radio spectrum licenses. These carriers offer cellular phone services, mobile broadband internet access, paging services, and wireless video delivery through tower networks, small cells, and distributed antenna systems deployed across licensed frequency bands.
Three major nationwide carriers dominate the U.S. wireless market, collectively serving over 300 million subscriber connections. Revenue comes from postpaid and prepaid voice and data plans, device sales and financing, enterprise mobility solutions, and wholesale network access sold to mobile virtual network operators (MVNOs). 5G network deployment is the current investment priority, requiring substantial capital expenditure for new radio equipment, spectrum acquisition, and cell site densification in both urban and suburban markets. Fixed wireless access, which delivers home broadband over 5G airwaves, has emerged as a new revenue stream.
The Federal Communications Commission[4] manages spectrum allocation, licensing, and tower siting regulations that govern carrier network deployment. Employment across the industry spans radio frequency engineers, tower technicians, retail sales associates, and customer support teams. The Bureau of Labor Statistics[5] tracks telecommunications employment data, while the Census Bureau[6] measures sector revenue. Carrier headquarters and regional operations are distributed nationwide, with major hubs in Bellevue, Washington; Basking Ridge, New Jersey; and Atlanta, Georgia.
What's Included in This Industry
- Cellular voice and data service plan provisioning
- Mobile broadband internet access via 4G LTE and 5G networks
- Prepaid and postpaid wireless account management
- Device sales, leasing, and installment financing
- Wholesale network access for MVNO partners
- Tower and cell site construction and maintenance
- Spectrum license acquisition and management
- Enterprise mobility and fleet management solutions
- Roaming agreement administration with domestic and international carriers
- Small cell and distributed antenna system deployment
NAICS Classification Hierarchy
| Level | Description | Code |
|---|---|---|
| Sector | Information | 51 |
| Subsector | Telecommunications | 517 |
| Industry Group | Wired and Wireless Telecommunications (except Satellite) | 5171 |
| NAICS Industry | Wired and Wireless Telecommunications Carriers (except Satellite) | 51711 |
| National Industry | Wireless Telecommunications Carriers (except Satellite) | 517112 |
Related NAICS Codes
| Code | Description | Relationship |
|---|---|---|
| 517111 | Wired Telecommunications Carriers | Wired carriers provide competing broadband and voice services through fixed-line networks and are increasingly bundling wireless with wired offerings |
| 517121 | Telecommunications Resellers | Telecom resellers and MVNOs purchase wholesale wireless access from carriers and resell service under independent brand names to consumers |
| 517410 | Satellite Telecommunications | Satellite telecom providers offer wireless voice and broadband alternatives in remote areas beyond the reach of terrestrial tower networks |
| 334220 | Radio and Television Broadcasting and Wireless Communications Equipment Manufacturing | Radio and television broadcasting equipment manufacturers produce the base station hardware and antenna systems carriers install at cell sites |
SBA Lending Summary
192
Total SBA Loans
$63.9M
Total Loan Volume
$333K
Average Loan Size
11 yrs
Average Loan Term
11.14%
Average Interest Rate
1,328
Jobs Supported
Source: SBA 7(a) Program Data, U.S. Small Business Administration — FY 2025[3]
Key Insight: The SBA size standard[10] for NAICS 517112 is 1,500 employees, using a headcount threshold. Wireless carriers with fewer than 1,500 workers qualify as small businesses for federal programs. Smaller carriers can access SBA 7(a) loans[11] for network equipment, tower construction, and working capital, while SBA 504 loans[12] support retail store and office facility purchases. Regional and rural wireless carriers are the most common small business entrants in this code.
Top SBA Lenders
| # | Lender | Loans | Volume | Avg Loan |
|---|---|---|---|---|
| 1 | Northwest Bank | 16 | $16.9M | $1.1M |
| 2 | Zions Bank, A Division of | 16 | $16.2M | $1.0M |
| 3 | Buckeye State Bank | 16 | $7.3M | $455K |
| 4 | FFB Bank | 16 | $4.5M | $280K |
| 5 | Harvest Small Business Finance, LLC | 8 | $4.1M | $512K |
Frequently Asked Questions
Common questions about this industry.
What types of businesses fall under NAICS 517112?
NAICS 517112 covers establishments operating wireless telecommunications networks under spectrum licenses. This includes major national cellular carriers, regional wireless operators, rural wireless ISPs, and carriers offering fixed wireless broadband access.
How is NAICS 517112 different from 517122?
NAICS 517112 covers carriers that own and operate wireless network infrastructure under spectrum licenses, while 517122 covers agents that sell wireless service plans on commission without owning networks. Carriers build towers and invest billions in spectrum; agents run retail stores, per Census Bureau classifications[13].
What is the SBA size standard for wireless carriers?
The SBA sets the size standard for NAICS 517112 at 1,500 employees. Carriers below this headcount qualify as small businesses for federal contracting and lending, per the SBA size standards table[10].
What NAICS codes are related to wireless telecom?
Related codes include 517111 (wired carriers), 517121 (telecom resellers), 517122 (wireless agents), 517410 (satellite telecom), and 334220 (broadcast equipment manufacturing). Each intersects with wireless operations through competition, distribution, or infrastructure supply.
What industries are closely related to wireless carriers?
Closely related industries include wired telecom (517111), wireless retail agents (517122), equipment manufacturers (334220), tower contractors (238210), and commercial real estate (531120) for cell site leases.
What activities are included in wireless telecom?
Activities include cellular voice and data service delivery, 5G and 4G LTE network operations, device sales and financing, spectrum management, tower construction, wholesale MVNO access, and roaming administration. The FCC[4] regulates spectrum licensing and carrier operations.
Can wireless carriers get SBA loans?
Where are wireless carriers concentrated in the United States?
Major carriers operate nationwide from headquarters in the Northeast and Pacific Northwest. Regional and rural wireless carriers concentrate in markets underserved by national operators, particularly across the Great Plains, Appalachia, and rural West, per Census Bureau County Business Patterns[14].
Sources & References
Government datasets and editorial sources used in this report.
- [1]U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages bls.gov
- [2]U.S. Census Bureau, Economic Census census.gov
- [3]U.S. Small Business Administration, SBA 7(a) Loan Program Data data.sba.gov
- [4]Federal Communications Commission fcc.gov
- [5]Bureau of Labor Statistics bls.gov
- [6]Census Bureau data.census.gov
- [7]U.S. Census Bureau census.gov
- [8]Bureau of Labor Statistics bls.gov
- [9]Small Business Administration sba.gov
- [10]SBA size standard sba.gov
- [11]SBA 7(a) loans sba.gov
- [12]SBA 504 loans sba.gov
- [13]Census Bureau classifications census.gov
- [14]Census Bureau County Business Patterns census.gov
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