Satellite-based QKD is currently being developed to revolutionize global cryptographic key exchange by facilitating secure communication among remote parties at a global scale. By overcoming the exponential loss of fiber transmission, satellite-to-Earth communication can seamlessly interconnect vast distances as the link budget of such links is sufficient to support QKD links. In terms of this direction, DV-QKD implementations seems to be technologically ahead since key exchange has been experimentally demonstrated to perform much more efficiently by providing key rates that are orders of magnitude higher compared to entanglement-based key exchange. However, the specific requirements to support effectively functional DV-QKD satellite-to-ground links are yet to be defined. This work attempts to define the satellite and ground segment system requirements needed in order to achieve functional QKD service for various satellites orbits (LEO, MEO, and GEO). Finite key size effects are being considered to determine the minimum block sizes that are required for secure key generation between a satellite node and a ground terminal for a single satellite pass. The atmospheric link channel is modeled with consideration of the most important degradation effects such as turbulence and atmospheric and pointing loss. Critical Tx and Rx system parameters, such as the source’s intrinsic Quantum Bit Error Rate (iQBER), the Rx telescope aperture size, and detection efficiency, were investigated in order to define the minimum requirements to establish an operation satellite-to-ground QKD link under specific assumptions. The performance of each downlink scenario was evaluated for the wavelength of 1550 nm in terms of link availability, link budget, and in the distilling of secure key volumes over time. Finally, the feasibility and requirements for distributing the collected space photons via terrestrial telecom fibers was also studied and discussed, leading to the proposal of a more futuristic WDM-enabled satellite QKD architecture. This comprehensive analysis aims to contribute to the advancement and implementation of effective satellite-based QKD systems, which can further exploit the ground fiber segment to realize converged space/terrestrial QKD networks.