Abstract: It has been almost three years since the great Geostationary Earth Orbit (GEO) Ka‐band filing rush concluded at the FCC. The majority of filers have gone on to register their systems with the ITU, creating the most congested new Spectrum band at system startup that the world has ever seen. However, for all the hype, none of the GEO systems are thought yet to have begun to bend metal. All appear consumed with the requirement to find partners with whom to share the business risks, costs and rewards. This paper will examine the current state of progress of Ka‐band systems. Assessments will be made with respect to criteria such as: announced target markets and their appropriateness for the technology proposed; availability of desired technology to enable these systems to achieve their stated goals and a realistic assessment of when these technologies will be deployed; the availability of alternative terrestrial systems to address the same applications and their impact on the GEO Ka‐band system target markets; and regulatory issues and paths to insure commercial access.