Market Trends of meo satellite Industry
Satellite miniaturization for better fuel and operational efficiency witnessed in the market
- MEO satellites are located between LEO and GEO, typically at an altitude of about 2,000 to 36,000 kilometers (1,242 to 22,369 miles). MEO is commonly used for satellite navigation systems such as the Global Positioning System (GPS). The mass of MEO satellites can also vary depending on their specific applications, but they are generally lighter than GEO satellites due to their lower altitude.
- The mass of a satellite has a significant impact on its launch. This is because the heavier the satellite, the more fuel and energy will be required to launch it into space. The launch of a satellite involves accelerating it to a very high speed, typically around 28,000 kilometers per hour, in order to place it in orbit around the Earth. The amount of energy required to achieve this speed is proportional to the mass of the satellite.
- The mass of a satellite has a significant impact on its launch. Indeed, the heavier the satellite, the more fuel and energy it will need to be launched into space. The amount of energy required to achieve this speed is proportional to the mass of the satellite. Advancements in materials, manufacturing techniques, and technology have enabled the development of lighter and more efficient satellite components. This has resulted in a reduction in satellite mass while maintaining or even improving performance. During 2017-2022, around 55 satellites were launched into MEO globally.
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Increasing expenditure by different space agencies is expected to positively impact the MEO satellites segment
- The global trend in R&D expenditure on MEO satellites is not as well-defined as that for LEO or GEO satellites. This is because MEO satellites are not as widely used as LEO or GEO satellites, and their applications are somewhat limited in Europe. The UK Space Agency announced that it would be funding EUR 6.5 million to support 18 projects to boost its space industry. The funding aims to stimulate growth in the UK space industry by supporting high-impact, locally-led schemes and space cluster development managers. The 18 projects will pioneer various innovative space technologies to combat local issues, such as utilizing Earth observation (EO) data to enhance public services. In November 2022, the Government of Spain announced that it would allocate EUR 1.5 billion to the ESA over the next five years, which will reinforce Spain's leadership in space.
- In North America, government expenditure for space programs hit a record of approximately USD 22 billion in 2021. The region is the epicenter of space innovation and research, with the presence of the world's biggest space agency, NASA. In 2022, the US government spent nearly USD 62 billion on its space programs, making it the highest spender on space globally. In the United States, federal agencies receive funds worth USD 32.33 billion from the government every year.
- R&D spending on MEO satellites can be somewhat irregular depending on specific applications and available funding. However, as with other satellite technologies, continued investment in R&D will likely lead to the development of new and improved MEO satellite technologies that can support different applications and promote industry growth over the forecast period.
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