At 4.6% CAGR, Asia Pacific Geostationary Satellites Market is Projected to be Worth US$ 1,386.87 Million by 2031, says Business Market Insights

According to Business Market Insights’ research, the Asia Pacific geostationary satellites market was valued at US$ 966.08 million in 2023 and is anticipated to reach US$ 1,386.87 million by 2031, registering a CAGR of 4.6% from 2023 to 2031. Growing need for satellite-based military communications and increasing demand for long-range communication coverage through satellite network are among the critical factors attributed to drive the Asia Pacific geostationary satellites market growth.

The rising demand for electronic warfare has been pushing the deployment of satellite-based communication systems for military applications across different regions. This is further supported by the increasing military investments in the procurement of military SATCOM systems across different regions. Such factors have been pushing the demand for direct-to-cell satellite services among the military forces. Vendors operating in the geostationary satellite market have been focusing on reducing the operational costs of deploying satellites into the GEO orbit. For instance, companies such as Astranis, Terran Orbital, Maxar Technologies, and SWISSto12 have been providing small satellites for deployment into the geostationary orbits that can be deployed in a lesser timeline along with a reduction in overall size, weight, and cost of the geostationary orbital satellites. Such factors have been raising interests of military forces for geostationary satellite-based communication network deployments.

On the flip side, incidents of geostationary satellite failures and decline in orders of geostationary satellites hamper the growth of Asia Pacific geostationary satellites market.

Based on product, the Asia Pacific geostationary satellites market is segmented into communication system, power system, propulsion system, and others. The communication system segment held 52.2% market share in 2023, amassing US$ 504.40 million. It is projected to garner US$ 704.94 million by 2031 to register 4.3% CAGR during 2023–2031.

By application, the Asia Pacific geostationary satellites market is segmented into communications, space exploration, navigation, earth observation, and others. The communications segment held 54.7% share of Asia Pacific geostationary satellites market in 2023, amassing US$ 528.13 million. It is anticipated to garner US$ 791.99 million by 2031 to expand at 5.2% CAGR during 2023–2031.

Based on country, the Asia Pacific geostationary satellites market is categorized into China, India, Japan, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 43.0% share of Asia Pacific geostationary satellites market in 2023. It was assessed at US$ 415.12 million in 2023 and is likely to hit US$ 622.01 million by 2031, registering a CAGR of 5.2% during 2023–2031.

Key players operating in the Asia Pacific geostationary satellites market are Airbus SE, Ball Corp, Israel Aerospace Industries Ltd, Korea Aerospace Industries Ltd., Lockheed Martin Corp, Northrop Grumman Corp, Thales SA, and The Boeing Co, among others.

• In 2024, Astranis announced launch of its next-generation product — Astranis Omega — a broadband communications system with better pound-for-pound performance than any other geostationary satellite in orbit today. Astranis Omega will offer 50+ Gbps of dedicated, uncontended throughput per satellite. While maintaining a small satellite form factor. With the first flight vehicle coming in 2025, and the first satellites launching in 2026.

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