Geostationary Satellites Market Analysis and Forecast by Size, Share, Growth, Trends 2031

    The geostationary satellites market size is projected to reach US$ 8.28 billion by 2031 from US$ 6.19 billion in 2023. The market is expected to register a CAGR of 3.7% during 2023–2031. Deployment of software-defined electric systems is likely to remain a key trend in the market.

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Geostationary Satellites Market Analysis

The increasing investment in the space sector boosts the geostationary satellites market growth. For instance, in May 2024, SKY Perfect JSAT, the Japanese flagship operator, ordered a communications satellite from Europe's Thales Alenia Space for launching in 2027. This geostationary satellite will provide broadband connectivity across Japan, Australia, New Zealand, Southeast Asia, and Pacific island countries. JSAT-31 will be based on Thales Alenia Space's software-defined Space INSPIRE (Instant Space In-orbit Reconfiguration) platform, which would enable the operator to adjust its Ka and Ku-band capacity while in GEO to meet changing mission needs. Eiichi Yonekura, SKY Perfect JSAT's president and CEO, said JSAT-31 would have nearly 50 gigabits per second of capacity, the largest in its fleet of 17 satellites.

The geostationary satellites market is witnessing strong growth and development globally in the space sector, owing to their rising adoption in spacecraft. Increased funding and investments in satellite launching programs reflect a growing focus on space exploration, satellite deployment, and space-based services. The public sector propels the demand for heavy- and super-heavy-lift space launch services, whereas the private sector leads the demand for small- and medium-lift satellites. For instance, in April 2023, The Indian Space and Research Organization (ISRO) successfully launched GSAT-29, one of the Geostationary communication satellites, through the Geosynchronous Satellite Launch Vehicle Mark III (GSLV Mk III). GSLV Mk III has successfully launched the satellite in geosynchronous transfer orbit (GTO), which is further placed in the geostationary orbit.