GEO Satellite Market Key Players, Applications and Top Performing Regions, 2023

Global GEO satellite market is anticipated to witness exponential growth in the forecast period. GEO (Geosynchronous equatorial orbit), also termed as “Geostationary Orbit”, is a circular geosynchronous orbit 35,786 km (22,236 mi) above Earth’s equator and following the direction of Earth’s revolution.

Factors, such as increasing demand from satellite TV, weather forecasting, satellite radio and most other types of worldwide communications and increase the satellite orbital inclination are likely to drive the market in the forthcoming period. On the other hand, incomplete geographical coverage and high altitude are anticipated to hinder GEO satellite market growth in the future.

However, technological advancement is likely to create lucrative opportunities for the market. Globally, market is anticipated to expand at a significant CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe.

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GEO satellite market could be explored by type, end user and geography. The market could be explored by type as >500 kg, 50-500 kg and <50 kg. The market could be explored based on end users as Military Surveillance, Commercial Communications, Navigation, Earth Observation, and Others. The “Commercial Communications” segment accounted for a prominent share in the market. It is likely to witness substantial growth in the years to come.

North America is a leading region in the market. It is likely to maintain a dominance in the forecast period owing to factors, such as technological advancement, increase the satellite orbital inclination, high demand from military surveillance and increasing demand from key end users. North America is followed by Europe and Asia-Pacific region owing to technological advancement in the field and increasing demand.

Key players operating in the GEO satellite market include OHB SE, Airbus Defense and Space, JSC Information Satellite Systems, Boeing Defense, Space & Security, Orbital ATK, Lockheed Martin, Thales Alenia Space, Space Systems/Loral, and others. The leading companies are involved in partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.

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