At 3.0% CAGR, Europe Geostationary Satellites Market is Projected to be Worth US$ 1,960.66 Million by 2031, says Business Market Insights

According to Business Market Insights’ research, the Europe geostationary satellites market was valued at US$ 1,552.76 million in 2023 and is anticipated to reach US$ 1,960.66 million by 2031, registering a CAGR of 3.0% from 2023 to 2031. Development of small satellites for geostationary orbit and increasing demand for long-range communication coverage through satellite network are among the critical factors attributed to drive the Europe geostationary satellites market growth.

Satellite manufacturers such as Maxar Space Systems, Astranis, Terran Orbital, SWISSto12, and Saturn Satellite Network have already been focusing on the development of small satellites that can be deployed into the GEO orbit. This will further provide relief to the satellite operators and launch companies, reducing their operational costs for placing a satellite into the GEO orbit with lesser size, weight, and cost of manufacturing. During the conference of” SATELLITE 2020,” several satellite companies announced that they have been focusing on the development of smallsat constellations for geostationary orbits that can be deployed through small satellite-specialized launch vehicles, which will ultimately reduce the overall cost of satellite launches and orbit placement of satellites into the GEO orbits. The development of small satellites for deployment into geostationary orbit is likely to generate new opportunities for market vendors in the coming years.

On the contrary, incidents of geostationary satellite failures and decline in orders of geostationary satellites hamper the growth of Europe geostationary satellites market.

Based on product, the Europe geostationary satellites market is segmented into communication system, power system, propulsion system, and others. The communication system segment held 51.5% market share in 2023, amassing US$ 799.05 million. It is projected to garner US$ 980.25 million by 2031 to register 2.6% CAGR during 2023–2031.

By application, the Europe geostationary satellites market is segmented into communications, space exploration, navigation, earth observation, and others. The communications segment held 56.0% share of Europe geostationary satellites market in 2023, amassing US$ 870.05 million. It is anticipated to garner US$ 1,149.87 million by 2031 to expand at 3.5% CAGR during 2023–2031.

Based on country, the Europe geostationary satellites market is categorized into Germany, France, Italy, the UK, Russia, and the Rest of Europe. Our regional analysis states that France captured 40.1% share of Europe geostationary satellites market in 2023. It was assessed at US$ 622.90 million in 2023 and is likely to hit US$ 821.52 million by 2031, registering a CAGR of 3.5% during 2023–2031.

Key players operating in the Europe geostationary satellites market are Airbus SE; Ball Corp; Israel Aerospace Industries Ltd; Lockheed Martin Corp; Northrop Grumman Corp; OHB SE; 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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