A satellite in orbit is generally considered to be in a balanced state in terms of the forces acting on it. In orbit, a satellite experiences a balance between gravitational force and centripetal force.
The gravitational force pulls the satellite toward the planet (or celestial body) it is orbiting, while the satellite's inertia causes it to move forward. This forward motion, combined with the pull of gravity, creates a continuous free-fall path around the planet, allowing the satellite to maintain a stable orbit.
However, it’s important to clarify that while the forces are balanced, the satellite is not "at rest." It is continuously moving at a high velocity, so in that context, it is in a dynamic equilibrium where the gravitational pull and the centrifugal effect from its velocity create a stable orbit.
In practical terms, the satellite's system can experience unbalanced forces due to factors such as atmospheric drag (for low Earth orbit satellites), gravitational perturbations from other bodies, or thrust from onboard propulsion systems, which can affect its orbit. But when the satellite is in a stable, unaccelerated orbit, we say it is in a balanced state with respect to the forces acting on it.