An OBP(On Board Processing) satellite is a new generation of satellite, which has higher transmission rate and covers wider area than existing satellites. Due to its improved functionality, An OBP satellite can provide variety of new satellite communication services such as fill-in service, UHDTV, and high precision GPS. In spite of its versatility, as the development of an OBP satellite incurs huge investment, economic justification of OBP satellite development is crucial. This paper presents an economic assessment of OBP satellite development. First, feasible services of an OBP satellite have been identified and the Willingness-To-Pay (WTP) for the identified services have been estimated. Then, R&D and operating costs of the OBP satellite have been estimated. To facilitate valid economic analysis, this paper presents three different scenarios and economic assessment has been conducted under each scenario.