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Originally posted by Tardacus
Have their been any reports of where it has landed?
There are several different types of satellite orbits for space systems in orbit around the earth. The types vary in altitude, real or apparent path with respect to the earth, and duration of each orbit. For some missions, which use a constellation of multiple satellites, understanding the significance of the orbit means understanding the relationship of the orbits of the entire group.
Altitude further divides into the lowest (i.e., perigee) and highest (i.e., apogee) in the orbit. These vary the most with elliptical orbits and the least with circular orbits. A low perigee is valuable for missions in which sensors need to be close to the earth, or where low-power communications are being sent to the satellite. The disadvantage of the lower perigees is that they encounter more atmospheric friction, and, unless the satellite has fuel to adjust its orbit, gives it a shorter lifetime.
Angle of inclination is another parameter of the orbit. A 90 degree angle, which cannot be maintained, would have the satellite in a circular polar orbit over the North and South Poles. Zero degrees of inclination would be a perfect equatorial orbit.
Most orbits, helped by the rotation of the earth, travel east-to-west. It is possible to put a satellite in a west-to-east retrograde orbit, but the cost of the launch will be much higher, because it must cancel the earth's rotational speed.
Some satellites, such as those used for imagery intelligence (IMINT; taking detailed pictures) or signals intelligence (SIGINT; listening to things) carry substantial fuel, so their orbits can be shifted to areas of new interest. In some constellations, such as used for navigation or communications, there may be "in-orbit spares", so the spare needs to carry enough fuel so that it can shift into the orbit of a failed member of the constellation.
In woogleuk's thread on this 'meteor' you mentioned that you didn't think it was space junk as the vast majority of space junk comes from a west to east direction. I assume that this is due to the orbital direction of satellites in space.