Satellite Earth Observation Market Size is projected to reach USD 7.88 Billion by 2030, growing at a CAGR of 6.87%: Straits Research
The global Satellite Earth Observation Market was valued USD 3.58 billion in 2021 and is predicted to reach USD 7.88 billion by 2030, increasing at a CAGR of 6.87% from 2022 to 2030. North America has the most earth observation systems. After the projected term, North America's market share should be over a quarter
New York, United States, Aug. 01, 2022 (GLOBE NEWSWIRE) -- Earth Observation Satellites enable environmental monitoring and protection, resource management, humanitarian response, and sustainable development (EO satellites). This comprises spy satellites and non-military satellites for environmental monitoring, meteorology, cartography, etc. These sensors measure salinity, ice thickness, agricultural health, and air quality.
Earth Observation satellites move in different orbits, providing different perspectives of the earth. Most satellites can't continually collect data due to power and memory limits. Others capture lesser amounts of data over time. Data can be downlinked once the satellite is visible to a ground station. As technology improves, downloading a snapshot takes seconds instead of weeks. Different corporations control satellites, therefore there are many data sources.
Earth-imaging satellites take photographs like aerial photography. Some EO satellites, like GNSS radio occultation, can give distant sensing without capturing photos. High need for disaster management, agriculture, mapping, and natural resources survey drives the satellite Earth Observation market's growth.
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Global Satellite Earth Observation Market: DRIVERS
Recent Technological Advances Have Benefited Satellite Imaging
High-resolution cameras and other cutting-edge remote sensing technologies have increased the quality of satellite-based earth observation photos. Significant-quality photos and data are in high demand in science, R&D, and defiance. Technical advances have increased the need for satellite data and expanded the global market for satellite-based earth observation.
Satellites Are Used for More Environmental Monitoring
Because they can monitor the macroscopic environment and forecast weather, satellites are commonly used to monitor the environment. Ground-based observations can't forecast such events. Earth observation satellites will help combat climate change, manage natural resources, and avert natural disasters. Since earth observation satellites are increasingly used, their market is growing globally.
Global Satellite Earth Observation Market: KEY FUTURE OPPORTUNITIES
Advances in Space and Rocket Technology Have Boosted Satellite Production
Aerospace has benefited from space and rocket technological advances and reusable rockets. Reusable satellites cut launch costs. Launching a satellite with reusable rockets costs $60 million instead of $200 million. Reduced satellite launch costs have expanded Earth observation systems.
The aerospace industry mass-produces satellites. Mass manufacture has decreased satellite costs. Each satellite was initially anticipated to cost $500 million. Each satellite might cost $500,000 if mass-produced. EOS producers should find promising potential due to mass production satellite analytics and low-cost manufacturing satellites.
Report Scope
Report Metric | Details |
Market Size | USD 7.88 Billion by 2030 |
CAGR | 6.87% (2020-2030) |
Historical Data | 2019-2020 |
Base Year | 2021 |
Forecast Period | 2022-2030 |
Forecast Units | Value (USD Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Services, Technology, Applications, End User, and Region |
Geographies Covered | North America, Europe, Asia-Pacific, LAME and Rest of the World |
Key Companies Profiled/Vendors | BAE System, Airbus,Ball Corporation, BlackSky Global, Digital Globe, Maxar Technologies,L3Harris Technologies, Capella Space, ICEYE |
Key Market Opportunities | Advances In Space and Rocket Technology Have Boosted Satellite Production |
Key Market Drivers | Satellite Imagery Has Benefited from Recent Advances in Technological Capabilities |
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Regional Overview of Global Satellite Earth Observation Market
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa make up the Global Satellite Earth Observation Market.
North America has the most earth observation systems. After the projected term, North America's market share should be over a quarter. This preeminence is due in part to the rapid advancement of space technology, which has led to reusable rockets and other innovations. Former U.S. president Donald Trump has emphasized the government's support for the aircraft industry. This area earned recognition due to the US Air Force's Space Force, a branch of the US Armed Services. The Space Force may also benefit earth observation system manufacturers.
North America dominates the market due to its large number of active research investigations and investments, advanced infrastructure for space programs, and rapid adoption of commercial satellite imagery across industries. The analyzed market is predicted to grow further in the region due to federal grants to academic institutions and industries to develop improved satellite imaging systems.
New and innovative satellite operators are joining the market, especially in the U.S.; new data sources are emerging, including unmanned aircraft systems (UAS) and crowd or citizen sources employing mobile technologies; and Google and Amazon are pursuing worldwide footholds.
Using earth observation satellites, enterprises in the Asia Pacific region are operating in media and entertainment and disaster management. Asia Pacific is second only to North America in the global market for earth observation satellites.
Key Highlights
The global Satellite Earth Observation Market was valued USD 3.58 billion in 2021 and is predicted to reach USD 7.88 billion by 2030, increasing at a CAGR of 6.87% from 2022 to 2030.
By Services, the Earth Observation (EO) Data market and the Value-Added Services market are the two submarkets that make up the Global Satellite Earth Observation market. Value-Added Services dominates.
By Technology, Synthetic Aperture Radar (SAR), Optical, and Other Technologies constitute the Global Satellite Earth Observation Market's Technology-Based Segmentation. Optical technologies segment dominates.
By Application, Data Acquisition and Mapping, Sustainable Development and Environment Management, Disaster Management, Surveillance and Security, Location-Based Service, and Others are the segments that make up the Application-based division of the global market for satellite earth observation. Sustainable Development and Environment Management segment is the dominating one.
By End User, the Global Satellite Earth Observation market can be broken down into the following categories: Government and Defense, Archaeology and Civil Infrastructure, Energy and Natural Resources, Agriculture, Forestry, Maritime and Fishery, and Others. Government and Defense segment is the dominating one.
By region, the global market for satellite earth observation is broken down into the following regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is the dominating region among all.
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Major Players in Global Satellite Earth Observation Market
BAE System
Airbus
Ball Corporation
BlackSky Global
Digital Globe
Maxar Technologies
L3Harris Technologies
Capella Space
ICEYE
Planet Labs
The Boeing Company
EarthDaily Analytics
Satellogic
Surrey Satellite Technology Ltd.
Lockheed Martin Corporation
OHB System
Thales Group
Global Satellite Earth Observation Market: Segmentation
BY SERVICES
Earth Observation (EO) Data
Value-Added Services
BY TECHNOLOGY
Synthetic Aperture Radar (SAR)
Optical
Others
BY APPLICATION
Data Acquisition and Mapping
Sustainable Development and Environment Management
Disaster Management
Surveillance and Security
Location-Based Service
Others
BY END USER
Government and Defence
Archaeology and Civil Infrastructure
Energy and Natural Resources
Agriculture
Forestry
Maritime and Fishery
Others
BY GEOGRAPHY
North America
Europe
Asia Pacific (APAC)
Latin America
Middle East and Africa (MEA)
TABLE OF CONTENT
Introduction
Market Definition
Market Scope
Research Methodology
Primary Research
Research Methodology
Assumptions & Exclusions
Secondary Data Sources
Market Overview
Report Segmentation & Scope
Value Chain Analysis: Satellite Earth Observation Market
Key Market Trends
Drivers
Restraints
Opportunities
Porter’s Five Forces Analysis
Bargaining Power of Suppliers
Bargaining Power of Buyers
Threat of Substitution
Threat of New Entrants
Competitive Rivalry
Market Share Analysis
Services Overview
Introduction
Market Size & Forecast
Earth Observation (EO) Data
Market Size & Forecast
Value-Added Services
Market Size & Forecast
Technology Overview
Introduction
Market Size & Forecast
Synthetic Aperture Radar (SAR)
Market Size & Forecast
Optical
Market Size & Forecast
Regional Overview
Introduction
Market Size & Forecast
America
North America
U.S.
By Services
By Technology
Canada
By Services
By Technology
Mexico
By Services
By Technology
Latin America
By Services
By Technology
Europe
Market Size & Forecast
Germany
By Services
By Technology
France
By Services
By Technology
U.K.
By Services
By Technology
Italy
By Services
By Technology
Spain
By Services
By Technology
Rest of Europe
By Services
By Technology
Asia Pacific
Market Size & Forecast
Japan
By Services
By Technology
China
By Services
By Technology
Australia
By Services
By Technology
India
By Services
By Technology
South Korea
By Services
By Technology
Rest of Asia-Pacific
By Services
By Technology
Middle East & Africa
Market Size & Forecast
Saudi Arabia
By Services
By Technology
South Africa
By Services
By Technology
Kuwait
By Services
By Technology
Rest of Middle East & Africa
By Services
By Technology
Company Profile
BAE System
Company Overview
Financial Performance
Recent Developments
Product Portfolio
Airbus
Company Overview
Financial Performance
Recent Developments
Product Portfolio
Ball Corporation
Company Overview
Financial Performance
Recent Developments
Product Portfolio
Conclusion & Recommendation
Acronyms & Abbreviations
Table of Content and Figure @ https://straitsresearch.com/report/satellite-earth-observation-market/toc
Recent Developments
January 2022 - For the demonstration of Capella Space's synthetic aperture radar (SAR) photography capabilities, the National Reconnaissance Office (NRO) signed a contract in January 2022. These capabilities include synthetic aperture radar data visualisation and modelling; theatre downlink and regional imagery demonstration; and data imagery.
November 2021 - A contract with the National Oceanic and Atmospheric Administration (NOAA) was signed in November 2021 by ICEYE with the purpose of assisting with the response to and monitoring of marine environmental threats.
October 2021 - The National Geospatial Agency (NGA) awarded a contract to Maxar Technologies in October 2021 for the provision of high-resolution imaging data to the United States Department of Defence.
News Media
World’s Largest Aerospace and Defense Companies
Space Batteries Fulfills the Need for Energy Storage During Space Exploration Endeavors.
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