What is MEO Satellite Market?
MEO satellite is also known as a medium earth orbit satellite. It is used in various applications such as commercial communications, earth observation, navigation, military surveillance, among others. Satellites in medium earth orbit provide, low-latency broadband connectivity with an incredible geographic reach and high speed. Government Initiative regarding MEO Satellite and rising demand from developing countries are projected to drive the global MEO satellite market over the forecast period.
Highlights from MEO Satellite Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Airbus Defence and Space (Germany), OHB SE (Germany), Boeing Defense (United States), Space & Security, JSC Information Satellite Systems (Russia), Lockheed Martin Corporation (United States), Orbital ATK (United States), Space Systems/Loral LLC (United States) and Thales Alenia Space (France) |
MEO Satellite market companies operating in these industries are focusing more on efficient growth, improvement of operational efficiency and productivity, achieving high safety standards, and focusing on maintaining sustainable development. The market is highly competitive with a few players occupying the major share. The key players are highly focused on developing and innovating new strategies to maintain their market position and customer base. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launches, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global MEO Satellite market throughout the forecasted period.
Airbus Defence and Space (Germany), OHB SE (Germany), Boeing Defense (United States), Space & Security, JSC Information Satellite Systems (Russia), Lockheed Martin Corporation (United States), Orbital ATK (United States), Space Systems/Loral LLC (United States) and Thales Alenia Space (France) are some of the key players profiled in the study. MEO Satellite Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Commercial Communications, Earth Observation, Navigation, Military Surveillance and Others |
Weight | <50 kg,50-500 kg,>500 kg |
End User | Civil,Defense,Commercial |
On the basis of geography, the market of MEO 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.
Influencing Trend:
Technology Advancement regarding MEO Satellite
Market Growth Drivers:
Increased Deployment of Small Satellites Boosting across the World and In the last Few Years, Significant Investments by Venture Companies
Challenges:
Issue related to High Costs Associated with the Manufacturing and Presence of Major Players is leading to High Competition
Restraints:
Cleanup as well as Removal of Space Debris May Restraints the Market and Signal Latency Issues Related with MEO Satellite and Stringent Rules as well as Regulation
Opportunities:
Government Initiative regarding MEO Satellite and Growing Demand from Emerging Market such as China, India, among others
Key Target Audience
Manufacturers, Raw Material Suppliers, Distributors and Traders, Research Organisations, Government Agencies, Organizations and Others
In January 2023, The sixth Global Positioning System III (GPS III) satellite designed and built by Lockheed Martin has launched and is propelling to its operational orbit approximately 12,550 miles above Earth, where it will contribute to the ongoing modernization of the U.S. Space Force's GPS constellation.