Geostationary Satellites Market Size Worth $8.28 Billion, Globally, by 2031 – Exclusive Report by Th

The geostationary satellites market size is projected to reach US$ 8.28 billion by 2031 from US$ 6.19 billion in 2023 to register a CAGR of 3.7% during 2023–2031.
According to a new comprehensive report from The Insight Partners, the global geostationary satellites market is observing healthy growth owing to the rising need for satellite-based military communications and broadcasting.

Global Geostationary Satellites Market experiences increase in demand for long-range communication coverage through satellite network. Browse Detailed Insights: https://www.theinsightpartners.com/reports/geostationary-satellites-market

The report runs an in-depth analysis of market trends, key players, and future opportunities. In general, Geostationary satellites revolve in the geostationary orbits that are ~36,000 km above the Earth's equator. These satellites are best known for a wide range of applications, including telecommunication, earth observation, and space exploration. In telecommunication, these satellites are used to improve connectivity and increase internet speed.

Geostationary Satellites Market Size Worth $8.28 Billion, Globally, by 2031 – Exclusive Report by Th

Technological Innovations: Deployment of software-defined electric systems is one of the major factors pushing the market growth. Many of the satellite component manufacturers operating across different regions have been focusing on the development of software-based electric systems that can be deployed and operated remotely to achieve maximum output from the satellite systems. Moreover, there is an increase in the deployment of software-defined payload systems. For instance, in June 2024, Turkish Aerospace announced that its first domestically manufactured telecommunications geostationary satellite "Turksat 6A," which is scheduled for launch in July 2024, comprises small geostationary product components, including all-electric propulsion systems and software-defined payloads.

Geostationary Satellites Market Size Worth $8.28 Billion, Globally, by 2031 – Exclusive Report by Th

The geostationary satellites market size is projected to reach US$ 8.28 billion by 2031 from US$ 6.19 billion in 2023 to register a CAGR of 3.7% during 2023–2031.

NEW YORK, Oct. 17, 2024 /PRNewswire/ — According to a new comprehensive report from The Insight Partners, the global geostationary satellites market is observing healthy growth owing to the rising need for satellite-based military communications and broadcasting.

Global Geostationary Satellites Market experiences increase in demand for long-range communication coverage through satellite network. Browse Detailed Insights: https://www.theinsightpartners.com/reports/geostationary-satellites-market

The report runs an in-depth analysis of market trends, key players, and future opportunities. In general, Geostationary satellites revolve in the geostationary orbits that are ~36,000 km above the Earth's equator. These satellites are best known for a wide range of applications, including telecommunication, earth observation, and space exploration. In telecommunication, these satellites are used to improve connectivity and increase internet speed.

Geostationary Satellites Market Size Worth $8.28 Billion, Globally, by 2031 – Exclusive Report by Th

The report runs an in-depth analysis of market trends, key players, and future opportunities. In general, Geostationary satellites revolve in the geostationary orbits that are ~36,000 km above the Earth's equator. These satellites are best known for a wide range of applications, including telecommunication, earth observation, and space exploration. In telecommunication, these satellites are used to improve connectivity and increase internet speed.

Geostationary Satellites Market Size Worth $8.28 Billion, Globally, by 2031 – Exclusive Report by Th

COPERNICUS is the European Earth observation system aimed to provide support in the management of the environment, mitigation of climate change impact, and ensuring civil security across Europe. Further, GALILEO is a global satellite navigation and positioning system (GNSS) launched in Europe to support various sectors of the European Union's economy, including transport, agriculture, border management, and search and rescue. In February 2022, the European Commission launched two new flagship initiatives to boost satellite-based connectivity and manage space traffic. Such initiatives and a surge in investments in the space sector are the major factors propelling the geostationary satellite market growth in Europe.