Authored By: Sarah
11 Jul 2024

 Satellite-based Earth Observation Market Size to grow by USD 7604.6 million between 2024-2028

According to a research report “ Satellite-based Earth Observation Market” by Application (Defense, Weather, LBS, Energy, Others) Type (VAS, Data) Geography (North America, APAC, Europe, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 7604.6 million, at a CAGR of over 10.67% during the forecast period. In the realm of environmental monitoring, satellite technology has emerged as an indispensable tool due to its capability to capture macroscopic environmental data, reveal hidden features, and detect short-term and long-term weather phenomena that are not discernible through ground-based observation. Advanced observation satellites offer real-time, continuous information on atmospheric conditions essential for precise weather forecasting, including temperature, wind, and weather patterns. Moreover, these satellites play a pivotal role in monitoring environmental concerns such as greenhouse gas emissions, polar ice changes, deforestation, wildfires, and coral bleaching. The evolution of sensing and imaging technologies over the past decade has given rise to superior environmental observation satellites, enabling higher-resolution images and the measurement of an extensive range of metrics.

Browse market data tables, figures, and in-depth TOC on “Satellite-based Earth Observation Market” by Application (Defense, Weather, LBS, Energy, Others) Type (VAS, Data) Geography (North America, APAC, Europe, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample

 

By Application, the Defense segment is projected to dominate the market size in 2024

The satellite-based Earth Observation (EO) market witnesses significant demand from government agencies and the defense sector, who utilize value-added services (VAS) for applications such as urban planning, meteorological forecasting, forestry mapping, and environmental monitoring. These entities account for the largest market share, with contracts serving as the primary revenue generator for vendors. Notably, the US National Geospatial-Intelligence Agency (NGA) is a major global customer, having signed agreements with numerous providers, thereby fueling market expansion. The emergence of numerous VAS startups has intensified competition, resulting in a decrease in the cost of satellite-based EO VAS.

By Type, VAS  segment is expected to hold the largest market size for the year 2024

The defense sector held a substantial market share in the global satellite-based Earth observation industry in 2023, driven by escalating investments in satellite technology for surveillance, security, and intelligence gathering by emerging nations like China, India, and Russia. In September 2022, Airbus SE secured 15-year contracts with the Czech Republic and Netherlands' defense ministries, providing them with two and three channels, respectively, of the company's ultra-high-frequency (UHF) military communications hosted payload onboard the EUTELSAT 36D telecommunications satellite. This strategic partnership underscores the growing demand for advanced satellite technology within the defense sector.

North America is forecasted to hold the largest market size by region in 2024

The United States dominates the global satellite-based Earth Observation (EO) market, accounting for approximately one-third of all satellites in orbit. With a rich history in the EO industry, the US maintains a vast fleet of satellites for various applications, including communications, surveillance and intelligence, national security, weather forecasting, disaster management, environmental monitoring, and navigation. Notably, NASA spearheads most US satellite-based EO missions. However, the past decade has seen an influx of private players entering the market. These newcomers primarily focus on offering satellite imagery-based analytics and Value-Added Services (VAS), while some are even launching their own small satellites for data collection.

The Satellite-based Earth Observation Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 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
  • PlanetiQ
  • Raytheon Technologies Corp.
  • Thales Group
  • EarthDaily Analytics
.

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Research Analysis Overview

The Satellite-based Earth Observation (EO) market is a dynamic and growing industry that caters to various sectors, including homeland security and infrastructure security. Government agencies use satellite imagery for border mapping, urban planning, and defense and intelligence missions. Telecommunication services, private spaceflight industry, and commercial space activities contribute to the space economy. High-altitude balloons and drones are emerging technologies in EO, offering cost-effective solutions for real estate, transportation, agriculture & forestry, and disaster management. Reusable rockets and additive manufacturing are revolutionizing the industry, making space access more affordable and efficient. High-resolution imagery is essential for civil engineering & construction projects, while big data technology provides valuable insights for military missions and defense sector applications. Overall, the Satellite-based EO market offers a wealth of opportunities for innovation and growth in various industries.

Market Research Overview

The Satellite-based Earth Observation market is a rapidly growing industry with significant potential in various sectors including Disaster Management, Optical remote sensing, and Value-Added Services. The market is witnessing a shift towards mass production and low-cost manufacturing satellites, enabling satellite analytics and technological capabilities to reach new heights. The production of Earth-imaging satellites, high-resolution cameras, and GNSS radio occultation is driving innovation in data sources and orbits, providing insights into natural catastrophe prevention, natural resource management, climate change mitigation, and weather occurrences. Key players in the market include global corporations such as Planet Labs, MDA Corporation, Imagesat International, GeoterraImage, Satellogic, and startups like Population Reference Bureau. The market is facing restraints due to high launch costs, but the emergence of reusable rockets and additive manufacturing is expected to defy these challenges. The market caters to various sectors including infrastructure facilities, urban development, space programs, telecommunication services, and commercial space activities. The use of satellite imagery in areas like agriculture & forestry, real estate, transportation, and defense & intelligence is expanding, with applications in cartography, meteorology, environmental monitoring, and non-military purposes. The market also includes the use of drones and high-altitude balloons for Earth observation. The market is expected to grow significantly in the coming years, driven by research and development in satellite technology, big data, encrypted data, and highly trained workers. The market's applications extend to homeland security, infrastructure security, border mapping, urban planning, and government sector services. The use of satellite imagery in smart city initiatives, weather forecasting, and air quality monitoring is also on the rise. The space economy is expected to continue its growth trajectory, with opportunities in macroscopic environment monitoring, natural resources survey, mapping, and satellite imagery analysis.

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Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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