What is GEO Satellite Market?
GEO satellite is an earth orbiting satellite that is used to move a satellite from low earth orbit to the geostationary orbit of the earth. The GEO satellite market has high growth prospects owing to technological advancement in the satellite industry for increasing the efficiency of the satellites. Further, increasing demand for commercial communications, earth observation, navigation, military surveillance, and other application propelling market growth. In addition, rising demand from the developing economies expected to drive the demand for the GEO satellite over the forecasted period.
The market study is being classified, by Application (Commercial Communications, Earth Observation, Navigation, Military Surveillance and Others) and major geographies with country level break-up.
Northrop Grumman (United States), Information Satellite Systems Reshetnev (Russia), Boeing (United States), Airbus (Germany), OHB SE (Germany), Lockheed Martin (United States), Space System LLC (United States), Thales Group (France) and Ball Corporation (United States) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Maxar Technologies (United States) and AeroAstro, Inc. (United States).
Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global GEO Satellite market throughout the predicted period.
Analyst at AMA have segmented the market study of Global GEO Satellite market by Type, Application and Region.
On the basis of geography, the market of GEO Satellite has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Rising Demand for Satellite without Inter-Satellite Handoff
- GEO Satellite Covers Large Geographic Area
- Rising Applications for Multi-Point Distribution
- Technological Advancement in the Satellite Market
- High Cost of Design and Manufacturing
- Signal Latency Issues Related With GEO Satellite
- Growing Demand of GEO Satellite for Broadcasting
- Increasing Demand from the Developing Economies
- Poor Coverage of GEO Satellite at Higher Latitude
- Difficult to Broadcast with GEO Satellite near the Polar Region
Market Leaders and some development strategies
17th December 2018, Ovzon signed a contract with Space System LLC, provider of next-generation spacecraft and communications systems for the manufacturing of the first Geostationary Orbit (GEO) satellite of the company.
12th July 2019, Maxar a space technology company signed a contract with Ovzon a broadband telecommunication company for manufacturing GEO satellite for Ovzon to increase their product portfolio in mobile broadband communications.
Key Target AudienceGEO Satellite Manufacturers, Electronic Component Providers, Technology Providers, Potential Investors, Government and Research Organizations, Trade Associations and Industry Bodies and Others