Commercial Satellite Imaging Market Analysis

The Commercial Satellite Imaging market is an industry bustling with technological breakthroughs, growing customer base and ever-than-before geospatial information usage, and a wide variety of applications in different sectors. When navigating through the landscape of the commercial satellite imaging industry, it becomes evident that the sector is going through a major transformation that is decades making.

The military and intelligence demands lead to an increased number of applications of commercial satellite imaging in various military and other defense settings, the end result of which is the superiority of surveillance and security. These ones, indeed, being the decisive factor for market niche of these enterprises within the defense companies, thus resulting in the market growth. These drive directions suggest a maturity in this market for operations by the end of the forecasted period.

Another significant factor triggering the demand remains commensurate with the satellite technology improvements. Technological advancements in satellite technology today feature high-resolution pictures and the capability to provide multiple spectral bands that have brought into reality further researches and applications of satellite imagery. As a result of this trend, there has been an upsurge in the growth of commercial satellite imaging services industries which are engaged in agriculture, forestry, urban planning, disaster management and so forth.

Apart from the market demand, also the fact that the quantity of spatial information which is required is another aspect that causes the market dynamics drive. As shown precisely by different organizations and authorities, geospatial data in the recent past years has been very vital in making decisions for future plans. The satellite imaging remote sensing of the earth is providing all manners of data; from evaluating the status of crops to the assessment of infrastructural development. As a result of its function of giving useful information to business entities which improves their competitivity and mobility, and keeping the government officials abreast with the needs of its citizens, the market of satellite imagery is growing.

In addition, the communication of different market participants is characterized by the use case scenarios which are suitable for commercial satellite imaging. In the visible case, the satellite imagery is by far the most widely used in precision farming, as it enables the cultivators to keep track of the condition of their crops, track water levels and increase production. In terms of urban planning, satellite imagery helps to build infrastructure and map cities and track urban development projects that can cause environmental changes. Moreover, nearly all the spy satellite networks from military and intelligence agencies depend heavily on satellite imagery for strategic surveillance and reconnaissance.

The easily accessibility of this commercial satellite imaging sector is also being elevated along with the launching of many satellites. Nowadays, private companies joined the race to supply the industry sector with space photography. As a result the number of satellites involved in the mission of providing image services is steadily increasing. Such expansion of satellites in constellation increases the quantity of coverage, diminishes revisit time rate, in addition to data's availability – factors, which are boosters of satellite imagery market.