Press release
Global Geostationary Satellites Market to Reach US$ 8.28 Billion by 2031, Driven by Rising Investments and Next-Generation Satellite Technologies
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Growing Space Sector Investments Accelerate Market Expansion
Public and private sector investments continue to shape the geostationary satellite landscape. In May 2024, SKY Perfect JSAT, Japan's leading satellite operator, commissioned Europe's Thales Alenia Space to build JSAT-31, a software-defined geostationary satellite designed to deliver high-capacity broadband across Japan, Australia, New Zealand, Southeast Asia, and the Pacific Islands. JSAT-31, based on the Space INSPIRE platform, will provide nearly 50 Gbps of capacity the highest in JSAT's fleet.
Governments are also ramping up satellite programs. In April 2023, ISRO successfully launched GSAT-29 using the GSLV Mk III launch vehicle, demonstrating India's expanding capabilities in geostationary communications.
Key Market Drivers
1. Rising Demand for Long-Range Satellite Communication
The need for broader, more reliable communication networks is driving demand for GEO satellites:
• Astranis partnered with Orbith (2024) to provide MicroGEO satellites for Argentina.
• Thaicom ordered a GEO small satellite from Astranis for launch in 2025.
• Astranis introduced UtilitySat, the world's first multimission commercial GEO satellite capable of Ku, Ka, and Q/V-band operations.
• The Philippines will soon receive a dedicated GEO satellite to connect two million citizens to affordable internet.
These advancements highlight the growing reliance on GEO platforms for rural broadband, aviation connectivity, and national communication networks.
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2. Development of Small GEO Satellites
Satellite manufacturers including Astranis, Maxar, Terran Orbital, SWISSto12, and Saturn Satellite Networks are developing small, lightweight GEO satellites that reduce launch and operational expenses. These innovations enable quicker deployment, flexibility in capacity allocation, and cost-effective access to GEO orbit, unlocking new opportunities for operators.
Market Segmentation Highlights
• By Component:
o Communication systems held the largest share in 2023.
• By Application:
o Communications dominated the market due to expanding global connectivity demand.
Regional Insights
North America Leads the Market
The US accounted for the largest regional share in 2023, supported by a robust space ecosystem, high government spending, and the presence of top satellite manufacturers such as Lockheed Martin, Northrop Grumman, Moog Inc., and AQST Canada Inc.
Key developments include:
• A US$ 10 billion satellite constellation award issued in January 2024 by the Pentagon for over 400 satellites across GEO and LEO.
• SpaceX conducted 98 of the 109 US launch attempts in 2023, placing 1,937 satellites in orbit.
• Upcoming launch of GOES-U for weather and environmental monitoring, developed by NOAA and NASA.
Recent Industry Developments
• Japan Airlines selected Intelsat to provide multi-orbit inflight connectivity using an electronically steered array antenna compatible with GEO and LEO constellations. (May 2024)
• Ball Aerospace successfully launched NASA's TEMPO instrument, a GEO-observing spectrometer that tracks pollutants across North America. (April 2023)
Key Market Players
Major companies shaping the geostationary satellites market include:
Airbus SE, Boeing Company, Ball Corporation, Korea Aerospace Industries Ltd, Lockheed Martin Corporation, Maxar Technologies Inc., Northrop Grumman Corporation, Thales Group, Israel Aerospace Industries Ltd, and OHB SE.
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Conclusion
The Geostationary Satellites Market Size and Forecast (2021-2031) report provides comprehensive insights into market size, growth dynamics, competitive landscape, key trends, PEST and SWOT analysis, and industry forecasts across North America, Europe, Asia Pacific, South & Central America, and the Middle East & Africa.
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Contact Person: Ankit Mathur
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Phone: +1-646-491-9876
About Us:
The Insight Partners is a one stop industry research provider of actionable solutions. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are specialist in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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