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The satellite-based earth observation market size is forecast to increase by USD 7.60 billion, at a CAGR of 10.67% between 2023 and 2028. The market sees growth fueled by the increasing use of satellites for advanced environmental monitoring, crucial in disaster management and resource conservation efforts. Technological advancements, including higher-resolution imaging and data analytics, bolster observation capabilities. Furthermore, the rising need to strengthen offshore communication, especially in sectors like maritime shipping and oil exploration, drives demand, driving market expansion for satellite-based earth observation solutions. These developments underscore the market's pivotal role in addressing environmental challenges and facilitating efficient resource management across various industries, positioning it for sustained growth in the foreseeable future.
Market Forecast 2024-2028
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The satellite-based earth observation market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2023 for the following segments.
The defense segment will account for a major share of the market's growth during the forecast period.? The global market experienced substantial growth in 2023, with significant contributions from the defense segment. This segment is driven by increasing investments from emerging countries like China, India, and Russia in satellite technologies for surveillance, security, and intelligence purposes, driving the demand for surveillance and security equipment. In September 2022, Airbus SE secured 15-year agreements with the Czech Republic and Netherlands defense ministries to deliver UHF military communications via EUTELSAT 36D. Earth-imaging satellites serve various non-military purposes, including environmental monitoring, meteorology, cartography, ocean salinity, ice thickness, agricultural health, air quality, and disaster management.
The defense segment was valued at USD 2.76 billion in 2018. Key players in the market include Imagesat International, Planet Labs, and others. Technological capabilities, such as high-resolution cameras and remote sensing technology, drive innovation in this sector. However, market restraints include the high cost of launching satellites, the need for highly trained workers, encrypted data security, and big data processing. Reusable rockets and advancements in satellite production aim to mitigate these challenges. These developments are anticipated to drive the defense segment of the market during the forecast period.
Based on type, the market has been segmented into VAS and data. The VAS?segment will account for the largest share in this segment.?The value-added services market in the satellite-based earth observation sector has experienced significant growth due to increased demand from government agencies and the defense sector. Applications include city planning, weather forecasting, forestry mapping, and pollution monitoring. The US National Geospatial-Intelligence Agency (NGA) is a major customer, driving market expansion. The industry's competitiveness has risen with the entry of numerous VAS startups, resulting in mass production, low-cost manufacturing, and the commoditization of satellites. This trend is particularly noticeable in the optical earth observation segment. Satellite analytics plays a crucial role in disaster management, further boosting market growth. Hence, these factors will boost the segment and market growth during the forecast period.
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North America is estimated to contribute 42% to the growth by 2028. Technavio's analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. The global market is dominated by the US, which hosts approximately one-third of all earth-imaging satellites in orbit. Key players in this industry include global corporations such as Imagesat International. In recent years, private entities like Planet Labs have emerged, focusing on satellite imagery-based analytics and value-added services (VAS). While spy satellites serve military purposes, the majority of satellite applications are geared toward non-military uses, including environmental monitoring, meteorology, cartography, ocean salinity, ice thickness, agricultural health, air quality, and more.
Moreover, orbits and data sources from earth-imaging satellites, GNSS radio occultation, and remote sensing technology contribute significantly to scientific research and development in areas like weather occurrences, climate change mitigation, natural resource management, and natural catastrophe prevention. Technological capabilities include high-resolution cameras and advanced remote sensing technology. Market restraints include the need for highly trained workers, encrypted data security, big data management, reusable rockets, and launch costs. Satellite production remains a significant investment. In addition, the Europe satellite-based earth observation (EO) market is expected to grow significantly during the forecast period.
The satellite-based earth observation market plays a crucial role in various sectors, including the Defense sector for border monitoring and military missions. Big data and high-resolution imaging services provide valuable insights for disaster management and infrastructure security. Civil engineering and construction, agriculture and forestry, transportation, real estate, and urban planning also benefit from satellite imagery. The government sector, both in the defense and intelligence arena and in telecommunication services, relies on satellite EO for border mapping, homeland security, and infrastructure security. The space economy, driven by commercial space activities and the private spaceflight industry, contributes to the advancement of high-altitude balloons, drones, and reusable rockets for satellite deployment. Satellite imagery is essential for monitoring borders, assessing damage after disasters, and ensuring infrastructure security in an increasingly interconnected world.
The market has experienced significant growth due to the increasing demand for real-time, round-the-clock environmental data. Mass production of satellites and the development of low-cost manufacturing techniques have made satellite analytics more accessible. The value-added services market, which includes optical data processing and analysis, has gained traction in various sectors such as disaster management.
Moreover, advanced sensing and imaging technologies have led to the creation of superior satellites for earth observation (EO), enabling higher-resolution images and the measurement of multiple metrics. These innovations have expanded the applications of satellite data beyond weather forecasting to include areas like greenhouse gas emissions, deforestation, and coral bleaching. The increasing demand for improved satellite communication is creating a demand for EO satellites to modulate and demodulate signals, which will fuel the growth of the market during the forecast period. Additionally, advancements in technology, such as satellite-enabled Internet of Things (IoT), are enhancing connectivity and data collection capabilities globally. These IoT applications leverage satellite networks to enable remote monitoring, tracking, and management of assets and devices in diverse sectors including agriculture, logistics, and environmental monitoring, thereby driving satellite-based earth observation market growth.
The earth observation market has experienced substantial growth due to the mass production of SmallSatellites or CubeSats. These satellites, with sizes ranging from shoeboxes to washing machines and weights as low as 10 kilograms, are driving demand in the industry. The affordability and low capital investment of these satellites enable value-added services in various sectors, particularly in scientific research and disaster management.
Moreover, the optical earth observation segment benefits significantly from the proliferation of SmallSats, leading to an increase in the number of constellations. The market for satellite analytics and value-added services is also expanding, fueled by the need for real-time data processing and analysis. The trend toward low-cost satellites is revolutionizing the industry, making earth observation more accessible and cost-effective. Therefore, big data in satellites is one of the primary market trends driving satellite-based earth observation market growth during the forecast period.
The earth observation (EO) market utilizing satellites is facing increasing competition from emerging technologies such as unmanned aerial vehicles (UAVs), drones, and stratospheric balloons (stratolites). These alternatives offer lower costs and access to high-altitude observational capabilities, enabling mass production of data and satellite analytics. Stratolites, capable of carrying telescopes and sensors up to 40,000 meters, are particularly attractive for researchers and service providers seeking atmospheric and geological data.
Moreover, there are some major investors in high-altitude balloon R&D, posing a significant threat to the satellite-based EO market. Value-added services, such as optical imaging and disaster management, are expected to remain key growth areas for satellite-based EO, despite the competition. Low-cost manufacturing satellites may help maintain market share, but the integration of balloon technology into EO services is a growing trend. Thus, these factors are anticipated to impede satellite-based earth observation market growth during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
We also have detailed analyses of the market's competitive landscape and offer information on 20 market companies, including:
Airbus SE, Antrix Corp. Ltd., BAE Systems Plc, Eagle View Technologies Inc., Geoimage, Global Surface Intelligence Ltd., Imagesat International I.S.I Ltd., Kleos Space S.A., L3Harris Technologies Inc., Lockheed Martin Corp., Maxar Technologies Inc., Northrop Grumman Corp., OHB SE, Orbital Insight Inc., Orbital Micro Systems, Planet Labs PBC, Raytheon Technologies Corp., Thales Group, and EarthDaily Analytics
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative analysis.
In the market, satellite-based technologies have emerged as a game-changer. Border and disaster management, agriculture, and mapping industries significantly benefit from this technology. The market for satellite-based earth observation is expanding, with companies like Google and Planet Labs making significant strides. The use of high-resolution imagery and real-time data analysis enables efficient and accurate decision-making. Technologies like synthetic aperture radar (SAR), defense and intelligence, and LiDAR offer unique advantages, such as all-weather imaging and 3D modeling. The integration of artificial intelligence and machine learning algorithms further enhances the capabilities of satellite-based earth observation. The future of this market looks promising, with advancements in technology and increasing demand from various sectors. The urban planning and telecommunications industries are also expected to join the bandwagon, making satellite-based earth observation a crucial component of modern-day infrastructure development.
The satellite-based earth observation market is experiencing rapid growth, driven by advancements in earth observation satellite technologies and synthetic aperture radar imagery. The integration of hyperspectral and multispectral imaging has significantly improved data accuracy, supporting industries like civil engineering & construction, defense & intelligence, and agriculture & forestry. Additionally, alternative earth observation technologies and the use of unmanned aerial vehicles (UAVs) are expanding capabilities in remote sensing. However, the market faces challenges, including a lack of skilled and trained personnel to handle these advanced systems. On the positive side, increasing government investments in space and the adoption of additive manufacturing are fueling growth. These factors, coupled with advancements in technology, continue to shape the future of the satellite-based earth observation market.
Market Scope |
|
Report Coverage |
Details |
Page number |
178 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 10.67% |
Market Growth 2024-2028 |
USD 7.60 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
9.78 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
North America at 42% |
Key countries |
US, Canada, China, Russia, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Airbus SE, Antrix Corp. Ltd., BAE Systems Plc, Eagle View Technologies Inc., Geoimage, Global Surface Intelligence Ltd., Imagesat International I.S.I Ltd., Kleos Space S.A., L3Harris Technologies Inc., Lockheed Martin Corp., Maxar Technologies Inc., Northrop Grumman Corp., OHB SE, Orbital Insight Inc., Orbital Micro Systems, Planet Labs PBC, PlanetiQ, Raytheon Technologies Corp., Thales Group, and EarthDaily Analytics |
Market dynamics |
Parent market growth analysis, Market forecasting??????, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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