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The Earth observation satellite market is profoundly influenced by several key factors driving its growth and development. One of the primary drivers is the increasing demand for Earth observation data across various sectors, including agriculture, forestry, environmental monitoring, disaster management, urban planning, and defense. Earth observation satellites provide valuable data and imagery for monitoring and managing natural resources, assessing environmental changes, and supporting decision-making processes in both public and private sectors. As the need for timely and accurate Earth observation data continues to grow, driven by population growth, urbanization, and climate change, there's a corresponding increase in demand for satellite-based Earth observation services and solutions.
Moreover, advancements in satellite technology, sensor capabilities, and data analytics have led to innovations in Earth observation satellites, further driving market growth. New generations of satellites offer features such as higher spatial resolution, improved spectral bands, and enhanced revisit rates, enabling more detailed and frequent monitoring of the Earth's surface. Additionally, the integration of artificial intelligence (AI) and machine learning algorithms enables automatic image processing, feature extraction, and data analysis, enhancing the utility and value of Earth observation data for a wide range of applications. This drives demand for Earth observation satellites that offer superior performance, data quality, and analytical capabilities to meet the evolving needs of end-users.
Furthermore, the growing emphasis on environmental sustainability, climate change mitigation, and disaster risk reduction is driving investment and innovation in Earth observation satellite technology. Satellite-based Earth observation plays a crucial role in monitoring climate change impacts, assessing natural disasters such as floods, wildfires, and hurricanes, and supporting mitigation and adaptation efforts by governments, NGOs, and international organizations. By providing timely and accurate information on environmental trends and hazards, Earth observation satellites help improve disaster preparedness, response, and recovery efforts, driving further demand for satellite-based Earth observation services and solutions.
Additionally, the increasing adoption of satellite constellations and small satellites is reshaping the Earth observation satellite market landscape. Constellations of small satellites offer advantages such as global coverage, frequent revisits, and cost-effectiveness compared to traditional large satellites. This enables providers to offer high-resolution imagery, real-time monitoring, and on-demand data services to a wider range of customers and applications. Moreover, the proliferation of commercial Earth observation satellite operators and service providers is democratizing access to satellite data and imagery, empowering governments, businesses, and research institutions to harness the power of satellite-based Earth observation for various purposes.
Moreover, the growing demand for satellite-based Earth observation services in emerging markets, particularly in Asia-Pacific, Latin America, and Africa, is driving market expansion. Rapid economic growth, urbanization, and infrastructure development in these regions are fueling demand for Earth observation data and services to support sustainable development, resource management, and disaster resilience efforts. Governments and organizations in these regions are increasingly investing in satellite-based Earth observation infrastructure and capacity-building initiatives to address local challenges and capitalize on the benefits of satellite technology.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Growth Rate | 6.90% (2023-2030) |
Earth Observation Satellite Market Highlights:
Earth Observation Satellite Market Overview
Earth Observation Satellite Market Size is projected to reach $ 0.5 Billion by 2030, registering a CAGR of 6.90% During 2024-2032
Earth observation satellite is designed for non-military uses, such as monitoring and predicting climatic patterns, assessing damage during natural disasters, estimation of crop yields, surface geology mapping, and mineral deposits, and availability of water sources. It works at an altitude of 800 Km using remote-sensing techniques to collect data on the chemical, physical, and biological aspects of the earth system. This method permits the measurement of geology parameters of the world from the orbit with the use of high-resolution cameras and advanced sensors. It conjointly facilitates the management of earth’s natural resources in a resourceful manner. The satellite-based earth observation sector is witnessing a rapid growth during the forecast period. However, there are some shortcomings in operating performance of the earth observation satellite, such as high initial investment cost, coordination among different databases, reusability, customization, and isolation of various satellites from one another.
Moreover, the changing landscape in the space industry will affect the earth observation industry, especially in downstream activities. Downstream companies are focused on securing new data to ensure cost reduction in a commercial marketplace. Joint ventures and acquisitions are going to gain important tactical aspect in the earth observation satellite industry. For instance, the government is actively participating in the development of earth observation fleet for several purposes, such as remote sensing, earth science, and meteorology.
For instance, Orbital ATK had launched 10 earth observation satellites from Planet Labs, with its Minotaur C rocket to provide information related to businesses, governments and non-governmental organizations (NGOs) around the world. Similarly, Thales Alenia Space had signed a contract with Airbus Defense and Space GmbH to develop the Biomass spacecraft in order to determine the distribution of biomass in the world’s forests and measure annual changes. It is the first space borne exploration of the Earth’s surface using a P-band radar. Additionally, the data generated will be used to monitor the ionosphere, glacier and ice sheets, mapping subsurface geology in deserts and the topography under dense vegetation.
The primary goal for earth observation satellite is to gather information related to the geological aspect of the earth. The increased need for advanced image-enhancing equipment will enable manufacturers to improve the quality of satellite-based earth observation images. The factors responsible for the growth of the global earth observation satellite market are emerging satellite constellations, cloud computing, high-resolution data, re-usable satellite launch vehicles and technological improvements in satellite imagery. In general, earth observation satellites provide key information and unique data to support climate change activities.
The global earth observation satellite market is segmented based on application, payload type, and region. Among application, environment monitoring is widely used and comprises the largest share in the market. The key growth factor of environmental monitoring is increasing requirement of real-time data related weather forecast and climate pattern. Among payload type, SATCOM has the largest demand in the earth observation satellite market during the forecast period.
Company News:
- Maxar Technologies: In January 2024, Maxar secured a multi-year contract with the National Geospatial-Intelligence Agency (NGA) to provide high-resolution satellite imagery. This deal strengthens Maxar's position as a leading provider of government-grade Earth observation data.
- Airbus Defence and Space: In December 2023, Airbus announced the successful launch of Pléiades Neo 5, its latest high-resolution Earth observation satellite. This constellation offers improved image resolution and faster revisit times, catering to applications like precision agriculture and urban planning.
- Planet Labs: In November 2023, Planet Labs and ERM, a leading sustainability consultancy, announced a strategic collaboration to offer combined data and analytics solutions for environmental monitoring and risk management. This partnership aims to address growing demand for sustainable practices across industries.
- BlackSky: In October 2023, BlackSky secured a $45 million contract with the US Air Force to provide real-time geospatial intelligence. This deal highlights the increasing role of commercial satellites in national security applications.
- Terran Orbital: In June 2023, Terran Orbital successfully launched its RUNNER-1 satellite, demonstrating its capabilities in the small satellite segment of the Earth observation market. This launch opens doors for wider adoption of Terran Orbital's technology.
Earth Observation Satellite Market, By Segmentation
On the basis of region, the market is segmented into America, Asia Pacific, Europe, and Rest of the World. North America region is expected to dominate the market in future, due to significant investment in surveillance and monitoring technologies. For instance, SpaceX and Airbus Defense built the first Spanish earth observation satellite to assist with civil operations, such as border control, tactical support, natural disaster management, environmental monitoring, risk management, and counter-piracy actions. The Asia Pacific region is second to the North America region in the global earth observation satellite market as several companies are operational in commercial verticals in media and entertainment and disaster management, with the help of earth observation satellites. Thus, the global earth observation satellite market is estimated to grow at approximately 9% CAGR from 2017 to 2023.
Key Players
The key players in the global earth observation satellite market are Airbus Defence and Space (U.S.), OHB SE (Germany), Boeing Defense Space & Security (U.S.), JSC Information Satellite Systems (Russia), Lockheed Martin (U.S.), Orbital ATK (U.S.), Space Systems/Loral (U.S.), Thales Alenia Space (France), and Space Exploration Technologies Corp. (U.S.).
The report for Global Earth Observation Satellite Market of Market Research Future comprises extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economic and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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