The use of satellite scalar magnetic field data to produce geomagnetic field models is reviewed. There have been nine separate spacecraft that have acquired observations of the geomagnetic field from low (<1500 km) satellite altitudes since 1958. The magnetic field models produced from such data have not been sufficiently compared with surface vector data to firmly, establish their validity. One comparison has indicated that satellite‐derived models are as valid over‐all as those produced from surface data. Variations in the field components are shown to be larger than those in scalar field by factors of 4–10. Recent satellite models indicate an increase in dipole decay to −27 γ/year, a value that may be plausible, judging from extrapolation of earlier surface‐derived models. Also noted is a recent slowing of eccentric dipole west