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Exactly. As Belteguesian says without a sat you get four hours since the last time a ship of yours got within radar range of the station in question. Sats are the only reliable way to automatically keep your trading going (unless you've got enough rep with a faction and are prepared to fork out 10-12m Cr for a trade license)
However another major benefit of sats is they enable you to see ships and where they are going. This becomes more and more important as the game goes on. If a Xenon I and three K's or a couple of HOP main battle fleets are heading your way you really, really want to know about it. Satellite coverage is worth it's weight in gold.
What I do is buy two or three cheap fighters as scouts early game for mapping sectors, finding all the stations etc and dropping sats on them. You can chain sat drops easily so it's actually pretty painless to sat up whole sectors quickly without you having to do it yourself.