This report describes and explains the GEO satellite market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global GEO satellite market reached a value of nearly $17.24 billion in 2024, having grown at a compound annual growth rate (CAGR) of 2.44% since 2019. The market is expected to grow from $17.24 billion in 2024 to $21.32 billion in 2029 at a rate of 4.34%. The market is then expected to grow at a CAGR of 3.73% from 2029 and reach $25.61 billion in 2034.
Growth in the historic period resulted from expansion of satellite-based communication networks, increasing commercial space sector investments, increasing need for high-speed internet and 5G technology. Factors that negatively affected growth in the historic period was satellite congestion and orbital debris and limited private sector involvement.
Going forward, growth in demand for high-resolution earth observation data, government funding and space agency investments, increasing investments in satellite, telecommunication boom and growing use of satellite communication in defense applications will drive the growth. Factor that could hinder the growth of the GEO satellite market in the future include high launch and manufacturing costs and regulatory challenges and spectrum allocation issues.
North America was the largest region in the GEO satellite market, accounting for 47.93% or $8.26 billion of the total in 2024. It was followed by Asia-Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the GEO satellite market will be Asia-Pacific and Eastern Europe where growth will be at CAGRs of 5.30% and 5.26% respectively. These will be followed by Middle East and Africa where the markets are expected to grow at CAGRs of 5.14% and 5.02% respectively.
The global GEO satellite market is highly concentrated, with a large number of small players operating in the market. The top ten competitors in the market made up to 53.9% of the total market in 2023. SES S.A. was the largest competitor with a 9.35% share of the market, followed by Eutelsat Communications SA with 6.71%, Intelsat with 5.35%, The Boeing Company with 5.28%, Lockheed Martin Corp. with 4.80%, Airbus SE with 4.77%, Thales Alenia Space S.A.S. with 4.66%, OHB System AG with 4.60%, Hispasat S.A. with 4.19% and EchoStar Corporation with 4.16%.
The GEO satellite market is segmented by propulsion technology into electric, gas-based, and liquid fuel propulsion. The electric market was the largest segment of the GEO satellite market segmented by propulsion technology, accounting for 49.85% or $8.59 billion of the total in 2024. Going forward, the electric segment is expected to be the fastest growing segment in the GEO satellite market segmented by propulsion technology, at a CAGR of 6.21% during 2024-2029.
The GEO satellite market is segmented by satellite mass into 10-100kg, 100-500kg, 500-1000kg, and above 1000kg. The above 1000kg market was the largest segment of the GEO satellite market segmented by satellite mass, accounting for 63.05% or $10.87 billion of the total in 2024. Going forward, the 10-100kg segment is expected to be the fastest growing segment in the GEO satellite market segmented by satellite mass, at a CAGR of 7.82% during 2024-2029.
The GEO satellite market is segmented by end user into commercial, military and government, and other end users. The commercial market was the largest segment of the GEO satellite market segmented by end user, accounting for 66.24% or $11.42 billion of the total in 2024. Going forward, the commercial segment is expected to be the fastest growing segment in the GEO satellite market segmented by end user, at a CAGR of 4.75% during 2024-2029.
The GEO satellite market is segmented by application into communication, Earth observation, navigation, space observation, and other applications. The communication market was the largest segment of the GEO satellite market segmented by application, accounting for 63.36% or $10.92 billion of the total in 2024. Going forward, the communication segment is expected to be the fastest growing segment in the GEO satellite market segmented by application, at a CAGR of 4.64% during 2024-2029.
The top opportunities in the GEO satellite market segmented by propulsion technology will arise in the electric segment, which will gain $3.01 billion of global annual sales by 2029. The top opportunities in the GEO satellite market segmented by satellite mass will arise in the above 1000kg segment, which will gain $1.85 billion of global annual sales by 2029. The top opportunities in the GEO satellite market segmented by application will arise in the communication segment, which will gain $2.77 billion of global annual sales by 2029. The top opportunities in the GEO satellite market segmented by end user will arise in the commercial segment, which will gain $2.98 billion of global annual sales by 2029. The GEO satellite market size will gain the most in the USA at $1.25 billion.
Market-trend-based strategies for the GEO satellite market include focus on entering into strategic partnerships, focus on products expansion, such as small geostationary satellite, focus on developing innovative products, such as weather satellites, to provide continuous, real-time, and wide-area monitoring and focus on developing technologically advanced products, such as remote-sensing satellites, providing high-resolution, real-time, and comprehensive data.
Player-adopted strategies in the GEO satellite market include focus on expanding its operational capabilities through new product launches, focus on expanding its operational capabilities through partnership agreements and focus on strengthening its business operations through securing new contracts.
To take advantage of the opportunities, the analyst recommends the GEO satellite companies to focus on expanding weather monitoring capabilities, focus on expanding small geo satellite offerings, focus on advancing remote-sensing satellite capabilities, focus on the electric propulsion segment to drive growth, expand in emerging markets, continue to focus on developed markets, focus on strategic partnerships to accelerate innovation, provide competitively priced offerings, continue to use b2b promotions, focus on the communication segment to maximize market growth, focus on the commercial segment to capture high-growth demand.
The global GEO satellite market reached a value of nearly $17.24 billion in 2024, having grown at a compound annual growth rate (CAGR) of 2.44% since 2019. The market is expected to grow from $17.24 billion in 2024 to $21.32 billion in 2029 at a rate of 4.34%. The market is then expected to grow at a CAGR of 3.73% from 2029 and reach $25.61 billion in 2034.
Growth in the historic period resulted from expansion of satellite-based communication networks, increasing commercial space sector investments, increasing need for high-speed internet and 5G technology. Factors that negatively affected growth in the historic period was satellite congestion and orbital debris and limited private sector involvement.
Going forward, growth in demand for high-resolution earth observation data, government funding and space agency investments, increasing investments in satellite, telecommunication boom and growing use of satellite communication in defense applications will drive the growth. Factor that could hinder the growth of the GEO satellite market in the future include high launch and manufacturing costs and regulatory challenges and spectrum allocation issues.
North America was the largest region in the GEO satellite market, accounting for 47.93% or $8.26 billion of the total in 2024. It was followed by Asia-Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the GEO satellite market will be Asia-Pacific and Eastern Europe where growth will be at CAGRs of 5.30% and 5.26% respectively. These will be followed by Middle East and Africa where the markets are expected to grow at CAGRs of 5.14% and 5.02% respectively.
The global GEO satellite market is highly concentrated, with a large number of small players operating in the market. The top ten competitors in the market made up to 53.9% of the total market in 2023. SES S.A. was the largest competitor with a 9.35% share of the market, followed by Eutelsat Communications SA with 6.71%, Intelsat with 5.35%, The Boeing Company with 5.28%, Lockheed Martin Corp. with 4.80%, Airbus SE with 4.77%, Thales Alenia Space S.A.S. with 4.66%, OHB System AG with 4.60%, Hispasat S.A. with 4.19% and EchoStar Corporation with 4.16%.
The GEO satellite market is segmented by propulsion technology into electric, gas-based, and liquid fuel propulsion. The electric market was the largest segment of the GEO satellite market segmented by propulsion technology, accounting for 49.85% or $8.59 billion of the total in 2024. Going forward, the electric segment is expected to be the fastest growing segment in the GEO satellite market segmented by propulsion technology, at a CAGR of 6.21% during 2024-2029.
The GEO satellite market is segmented by satellite mass into 10-100kg, 100-500kg, 500-1000kg, and above 1000kg. The above 1000kg market was the largest segment of the GEO satellite market segmented by satellite mass, accounting for 63.05% or $10.87 billion of the total in 2024. Going forward, the 10-100kg segment is expected to be the fastest growing segment in the GEO satellite market segmented by satellite mass, at a CAGR of 7.82% during 2024-2029.
The GEO satellite market is segmented by end user into commercial, military and government, and other end users. The commercial market was the largest segment of the GEO satellite market segmented by end user, accounting for 66.24% or $11.42 billion of the total in 2024. Going forward, the commercial segment is expected to be the fastest growing segment in the GEO satellite market segmented by end user, at a CAGR of 4.75% during 2024-2029.
The GEO satellite market is segmented by application into communication, Earth observation, navigation, space observation, and other applications. The communication market was the largest segment of the GEO satellite market segmented by application, accounting for 63.36% or $10.92 billion of the total in 2024. Going forward, the communication segment is expected to be the fastest growing segment in the GEO satellite market segmented by application, at a CAGR of 4.64% during 2024-2029.
The top opportunities in the GEO satellite market segmented by propulsion technology will arise in the electric segment, which will gain $3.01 billion of global annual sales by 2029. The top opportunities in the GEO satellite market segmented by satellite mass will arise in the above 1000kg segment, which will gain $1.85 billion of global annual sales by 2029. The top opportunities in the GEO satellite market segmented by application will arise in the communication segment, which will gain $2.77 billion of global annual sales by 2029. The top opportunities in the GEO satellite market segmented by end user will arise in the commercial segment, which will gain $2.98 billion of global annual sales by 2029. The GEO satellite market size will gain the most in the USA at $1.25 billion.
Market-trend-based strategies for the GEO satellite market include focus on entering into strategic partnerships, focus on products expansion, such as small geostationary satellite, focus on developing innovative products, such as weather satellites, to provide continuous, real-time, and wide-area monitoring and focus on developing technologically advanced products, such as remote-sensing satellites, providing high-resolution, real-time, and comprehensive data.
Player-adopted strategies in the GEO satellite market include focus on expanding its operational capabilities through new product launches, focus on expanding its operational capabilities through partnership agreements and focus on strengthening its business operations through securing new contracts.
To take advantage of the opportunities, the analyst recommends the GEO satellite companies to focus on expanding weather monitoring capabilities, focus on expanding small geo satellite offerings, focus on advancing remote-sensing satellite capabilities, focus on the electric propulsion segment to drive growth, expand in emerging markets, continue to focus on developed markets, focus on strategic partnerships to accelerate innovation, provide competitively priced offerings, continue to use b2b promotions, focus on the communication segment to maximize market growth, focus on the commercial segment to capture high-growth demand.
Major Market Trends
- Enhancing Capabilities and Expanding Markets Through Strategic Partnerships
- Advancing Weather Monitoring and Space Forecasting With Innovative GEO Satellites
- Expanding GEO Satellite Capabilities to Enhance Connectivity and Market Growth
- Advancing Remote-Sensing Technology for Enhanced Geospatial Surveillance
Table of Contents
1 Executive Summary
6 Market Characteristics
7 Major Market Trends
8 Global GEO Satellite Growth Analysis and Strategic Analysis Framework
9 Global GEO Satellite Market Segmentation
10 GEO Satellite Market, Regional and Country Analysis
11 Asia-Pacific Market
12 Western Europe Market
13 Eastern Europe Market
14 North America Market
15 South America Market
16 Middle East Market
17 Africa Market
18 Competitive Landscape and Company Profiles
19 Other Major and Innovative Companies
22 Key Mergers and Acquisitions
23 Recent Developments
24 Opportunities and Strategies
25 GEO Satellite Market, Conclusions and Recommendations
26 Appendix
Executive Summary
GEO Satellite Global Market Opportunities and Strategies to 2034 provides the strategists; marketers and senior management with the critical information they need to assess the global GEO satellite market as it emerges from the COVID-19 shut down.Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 15 geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
Description
Where is the largest and fastest-growing market for GEO satellite? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The GEO satellite market global report answers all these questions and many more.The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market’s history and forecasts market growth by geography. It places the market within the context of the wider GEO satellite market; and compares it with other markets.
The report covers the following chapters:
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by propulsion, by satellite mass, application and by end user.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Growth Analysis and Strategic Analysis- Framework Analysis on PESTEL, end use industries, market growth rate, global historic (2019-2024) and forecast (2024-2029, 2034F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods, forecast growth contributors and total addressable market (TAM).
- Regional and Country Analysis- Historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2019-2024) (2024-2029, 2034F) and analysis for each segment by propulsion, by satellite mass, application and by end user in the market. Historic (2019-2024) and forecast (2024-2029) and (2029-2034) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2024), historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major and Innovative Companies- Details on the company profiles of other major and innovative companies in the market.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years.
- Recent Developments- Information on recent developments in the market covered in the report.
- Market Opportunities and Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions and Recommendations- This section includes recommendations for GEO satellite market providers in terms of product/service offerings geographic expansion, marketing strategies and target groups next five years.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
1) by Propulsion: Electric; Gas-Based; Liquid Fuel
2) by Satellite Mass: 10-100kg; 100-500kg; 500-1000kg; Above 1000kg
3) by Application: Communication; Earth Observation; Navigation; Space Observation; Other Applications
4) by End User: Commercial; Military and Government; Other End Users
Key Companies Profiled: SES S.A.; Eutelsat Communications SA; Intelsat; the Boeing Company; Lockheed Martin Corp.
Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; UK; Italy; Spain; Russia
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; GEO satellite indicators comparison.
Data Segmentation: Country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Companies Mentioned
The companies featured in this Geo Satellite market report include:- SES S.A.
- Eutelsat Communications SA
- Intelsat
- The Boeing Company
- Lockheed Martin Corp.
- Airbus SE
- Thales Alenia Space S.A.S.
- OHB System AG
- Hispasat S.A.
- EchoStar Corporation
- Space Exploration Technologies Corp.
- Optus
- Ananth Technologies Limited
- ArkEdge Space Inc.
- KT Corporation
- NBN Co
- China Aerospace Science and Technology Corporation (CASC)
- China Satellite Communications Co. Ltd.
- SKY Perfect JSAT Corporation
- NTT DOCOMO
- Mitsubishi Electric Corporation
- NEC Corporation
- LIG Nex1
- Ovzon
- AAC Clyde Space
- Alba Orbital
- ApoGEO Space (GP Advanced Projects)
- Argotec
- Exobotics
- Exodus Orbitals
- Cessna
- Telespazio SpA
- Raytheon
- Eutelsat Communications
- ICEYE
- OneWeb
- Open Cosmos
- Viasat Inc
- Thorium Space
- Russian Satellite Communications Company (RSCC)
- AltegroSky GC
- JSC Gazprom Space Systems
- SCANEX Group
- Gonets Leosat System
- GeoTelecommunications LLC
- SatRev S.A.
- NAVISAT, s.r.o.
- EXATEL S.A.
- Russian Satellite Communications Company
- GomSpace Group AB
- EnduroSat
- Astranis Space Technologies Corp
- Satcom Direct, Inc
- Satelles, Inc
- Viasat
- Inmarsat
- Stellar Blu Solutions LLC
- DataPath, Inc
- Telesat
- Space Flight Laboratory (SFL)
- Rocket Lab USA, Inc.
- Hughes Network Systems, LLC
- Qualcomm Technologies, Inc
- Honeywell International Inc
- ORBCOMM
- SES Americom
- Northrop Grumman Corporation
- Ciel Satellite
- Geo Optics Inc
- Planet Labs Inc
- Visiona Space Technology
- Amazon.com, Inc
- Globalsat Group
- Gilat Satellite Networks
- Starlink
- Scorpio Space
- Space42
- Yahsat
- Es’hailSat
- Satellite Telecommunications Refinery Company
- Gulf Satellite Telecommunications Company
- Secosatellite Telecommunications
- Avanti Communications
- Q-KON
- YahClick
- Maxwell Technology Pty Ltd
- Heliaq
- CubeSpace / Innovus
- Dragonfly Aerospace
- Simera Sense
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 322 |
| Published | April 2025 |
| Forecast Period | 2024 - 2034 |
| Estimated Market Value ( USD | $ 17.24 Billion |
| Forecasted Market Value ( USD | $ 25.61 Billion |
| Compound Annual Growth Rate | 4.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 91 |
