The global commercial satellite imaging market size was valued at $3.3 billion in 2022, and is projected to reach $9.6 billion by 2032, growing at a CAGR of 11.5% from 2023 to 2032.
Satellite imaging mainly deals with capturing images of the earth through satellite, also known as earth observation, and utilizing these images for various commercial purposes, which is known as commercial satellite imaging. Some of the foremost applications of commercial satellite imaging include acquisition & mapping, disaster management, energy & natural resource management, urban planning & development, and security & surveillance. There is increase in the importance of images captured through satellite due to a rise in use of these images in environmental forecasting. It also helps provide a quick response during emergencies such as defense security events and natural calamities.
Furthermore, increase in applications of satellite imaging services such as geospatial mapping, disaster mapping, urban planning, and energy management drives the overall growth of the market. Moreover, rise in requirement of satellite imaging data analytics from various industries that need critical information regarding geospatial and environmental conditions for effective resource management fuels the market growth. Satellite imagery is used in various commercial applications such as selection of construction sites, surrounding areas, route planning, monitoring of infrastructural projects, and 3D modeling of excavation areas, which further accelerates the market growth.
Moreover, rise in adoption of artificial intelligence (AI), machine learning (ML) and cloud computing in the space sector, rise in the use of satellite data in the development of smart cities and connected vehicles, and surge in New Space movement and stringent government regulation on satellite launch significantly impact the market growth.
Furthermore, the commercial satellite imaging market is projected to witness considerable growth, especially in North America, owing to the presence of sophisticated infrastructure to undertake space programs and the earliest & highest adoption of commercial satellite imaging across various industries. Commercial and government space organizations are adopting various innovative techniques to provide customers with advanced and innovative feature offerings.
Also, the demand for satellite imagery is expected to grow significantly in various sectors such as agriculture, real estate, civil engineering, energy, and government. Therefore, a decrease in prices of satellite imagery is expected to boost the adoption of commercial satellite imaging. The market players have adopted product launch, acquisition, and partnership strategies to enhance their product portfolios and expand their geographical reach. Furthermore, the emerging economies are projected to provide lucrative growth opportunities to the market players during the forecast period.
Moreover, location-based services (LBSs) are a set of services that use real time geo-data through internet capable devices to provide information about current location. LBSs are greatly dependent on geographical mapping, which is carried out with the help of satellite imagery.
Factors such vital applications in government and defense services, growth dependence on commercial monitoring services, and rise in use of satellite data in development of smart cities and connected vehicles are driving the growth of the commercial satellite imaging market across the globe. However, availability of aerial imaging services and stringent government regulations for implementation and use of satellites hamper the growth of the market. Furthermore, growing adoption of new technologies and growing integration of artificial intelligence (AI), machine learning (ML), and cloud computing in the space sector are expected to create ample opportunities for the growth of the market during the forecast period.
Moreover, commercial satellite imagery is primarily used in the energy sector for exploration and maintenance of energy resources on the surface of the earth. Various applications of satellite imagery in the energy sector include mapping of energy losses, monitoring of gas pipelines, exploration of energy sources, inspection of power plants, and others. One of the major roles of satellite imagery in the energy sector is the exploration of gas, oil, and minerals. Images captured through satellites are used for mitigating oil spills, monitoring instances of oil smuggling, and others.
Similarly, energy companies are also adopting commercial satellite imagery services for enhancement in the productivity which supports the market growth. For instance, in May 2022, ProStar Holdings Inc. a world leader in Precision Mapping Solutions, was announced that Scout Energy Partners, has signed a service-level agreement (SLA) for ProStar’s cloud and mobile solution to improve the management and safety of pipeline operations.
The commercial satellite imaging market is segmented into application, end user, and region. By application, the market is categorized into geospatial data acquisition & mapping, urban planning & development, disaster management, energy & natural resource management, surveillance & security, defense & intelligence, and others. By end user, it is segregated into government, military & defense, forestry & agriculture, energy, civil engineering & archaeology, transportation & logistics, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa.
The leading companies profiled in the report include BlackSky, European Space Imaging, Galileo Group, Inc., ImageSat, L3Harris Technologies, Inc., Maxar Technologies Inc., Planet Labs Inc., Airbus S.A.S., SpaceKnow Inc. and Telespazio France.
Satellite imaging mainly deals with capturing images of the earth through satellite, also known as earth observation, and utilizing these images for various commercial purposes, which is known as commercial satellite imaging. Some of the foremost applications of commercial satellite imaging include acquisition & mapping, disaster management, energy & natural resource management, urban planning & development, and security & surveillance. There is increase in the importance of images captured through satellite due to a rise in use of these images in environmental forecasting. It also helps provide a quick response during emergencies such as defense security events and natural calamities.
Furthermore, increase in applications of satellite imaging services such as geospatial mapping, disaster mapping, urban planning, and energy management drives the overall growth of the market. Moreover, rise in requirement of satellite imaging data analytics from various industries that need critical information regarding geospatial and environmental conditions for effective resource management fuels the market growth. Satellite imagery is used in various commercial applications such as selection of construction sites, surrounding areas, route planning, monitoring of infrastructural projects, and 3D modeling of excavation areas, which further accelerates the market growth.
Moreover, rise in adoption of artificial intelligence (AI), machine learning (ML) and cloud computing in the space sector, rise in the use of satellite data in the development of smart cities and connected vehicles, and surge in New Space movement and stringent government regulation on satellite launch significantly impact the market growth.
Furthermore, the commercial satellite imaging market is projected to witness considerable growth, especially in North America, owing to the presence of sophisticated infrastructure to undertake space programs and the earliest & highest adoption of commercial satellite imaging across various industries. Commercial and government space organizations are adopting various innovative techniques to provide customers with advanced and innovative feature offerings.
Also, the demand for satellite imagery is expected to grow significantly in various sectors such as agriculture, real estate, civil engineering, energy, and government. Therefore, a decrease in prices of satellite imagery is expected to boost the adoption of commercial satellite imaging. The market players have adopted product launch, acquisition, and partnership strategies to enhance their product portfolios and expand their geographical reach. Furthermore, the emerging economies are projected to provide lucrative growth opportunities to the market players during the forecast period.
Moreover, location-based services (LBSs) are a set of services that use real time geo-data through internet capable devices to provide information about current location. LBSs are greatly dependent on geographical mapping, which is carried out with the help of satellite imagery.
Factors such vital applications in government and defense services, growth dependence on commercial monitoring services, and rise in use of satellite data in development of smart cities and connected vehicles are driving the growth of the commercial satellite imaging market across the globe. However, availability of aerial imaging services and stringent government regulations for implementation and use of satellites hamper the growth of the market. Furthermore, growing adoption of new technologies and growing integration of artificial intelligence (AI), machine learning (ML), and cloud computing in the space sector are expected to create ample opportunities for the growth of the market during the forecast period.
Moreover, commercial satellite imagery is primarily used in the energy sector for exploration and maintenance of energy resources on the surface of the earth. Various applications of satellite imagery in the energy sector include mapping of energy losses, monitoring of gas pipelines, exploration of energy sources, inspection of power plants, and others. One of the major roles of satellite imagery in the energy sector is the exploration of gas, oil, and minerals. Images captured through satellites are used for mitigating oil spills, monitoring instances of oil smuggling, and others.
Similarly, energy companies are also adopting commercial satellite imagery services for enhancement in the productivity which supports the market growth. For instance, in May 2022, ProStar Holdings Inc. a world leader in Precision Mapping Solutions, was announced that Scout Energy Partners, has signed a service-level agreement (SLA) for ProStar’s cloud and mobile solution to improve the management and safety of pipeline operations.
The commercial satellite imaging market is segmented into application, end user, and region. By application, the market is categorized into geospatial data acquisition & mapping, urban planning & development, disaster management, energy & natural resource management, surveillance & security, defense & intelligence, and others. By end user, it is segregated into government, military & defense, forestry & agriculture, energy, civil engineering & archaeology, transportation & logistics, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa.
The leading companies profiled in the report include BlackSky, European Space Imaging, Galileo Group, Inc., ImageSat, L3Harris Technologies, Inc., Maxar Technologies Inc., Planet Labs Inc., Airbus S.A.S., SpaceKnow Inc. and Telespazio France.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the commercial satellite imaging market analysis from 2022 to 2032 to identify the prevailing commercial satellite imaging market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the commercial satellite imaging market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global commercial satellite imaging market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
By Application
- Geospatial data acquisition and mapping
- Urban planning and development
- Disaster Management
- Energy and natural resource management
- Surveillance and Security
- Defense and Intelligence
- Others
By End User
- Government
- Military and defense
- Forestry and Agriculture
- Energy
- Civil Engineering and Archaeology
- Transportation and Logistics
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- Middle East and Africa
- UAE
- Saudi Arabia
- South Africa
- Rest of Middle East And Africa
- BLACKSKY GLOBAL LLC
- EUROPEAN SPACE IMAGING
- GALILEO GROUP, INC
- HARRIS CORPORATION
- IMAGESAT INTERNATIONAL N.V
- MAXAR TECHNOLOGIES INC
- PLANET LABS INC
- SPACEKNOW
- TELESPAZIO FRANCE
- URTHECAST CORP
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: COMMERCIAL SATELLITE IMAGING MARKET, BY APPLICATION
CHAPTER 5: COMMERCIAL SATELLITE IMAGING MARKET, BY END USER
CHAPTER 6: COMMERCIAL SATELLITE IMAGING MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, titled, “Commercial Satellite Imaging Market," the commercial satellite imaging market was valued at $3.3 billion in 2021, and is estimated to reach $9.2 billion by 2031, growing at a CAGR of 11.3% from 2022 to 2031.Presently, North America dominates the market followed by Europe, Asia-Pacific, and LAMEA. In North America, the U.S. dominated the commercial satellite imaging market in 2021 and is expected to maintain its dominance during the forecast period. Some of the key factors that drive the market growth include increase in dependence on location-based services, growth in applications in government defense services, and rise in the use of satellite data in the development of smart cities and connected vehicles.
Satellite imaging offers geospatial products and services for most government agencies and defense authorities for security-related applications. With high image quality and precision, satellite imaging is a proven source of information for any government or defense authorities, which helps in maximizing security programs. In addition, the information extracted from satellite images helps the local governments to better assess real-life situations. This, in turn, contributes toward developing live-saving and property-protection programs and enhance the future economic stability of their respective communities.
Furthermore, the current threat of terrorism and attacks on critical infrastructure can be tracked through geographical mapping and can be protected by adopting preventive measures, in the defense sector. Decision-making is becoming easier than before with the help of satellite imaging. Moreover, satellite imaging helps in precise mapping for mission planning, search and rescue operations, and formulating future developments. Therefore, surge in usage of satellite imagery in government and defense sectors has collectively emerged as the major growth driver for the commercial satellite imaging market.
Satellite images are used for urban management or planning and for smart city development. . Urban planners use satellite imagery datasets containing useful information regarding annotated objects data to understand settlement trends and ensure efficient infrastructure management. In addition, rise in use of remote sensing technology for zoning and city infrastructure modeling has helped in meeting increasing demands from city-based populations toward better management of sustainable urban development. In addition, growth in urban agglomeration and monitoring urbanization of adjoining areas to enable smart city planning and implementation is propelling satellite imagery adoption. Moreover, connected as well as autonomous vehicles leverage high-definition (HD) maps, seamless internet access, and roadside assistance during an emergency from space using commercial satellite imaging. Therefore, increase in use of satellite data for development of smart cities and connected vehicles is anticipated to offer lucrative growth opportunities for the commercial satellite imaging market. For instance, in April 2019, Maxar Technologies Inc. announced a collaboration with Toyota Research Institute-Advanced Development, Inc. (TRI-AD) and a leading IT services provider NTT DATA Corporation to create automated HD maps of the Tokyo metropolitan region for autonomous vehicles using high-resolution satellite imagery data.
Aerial imaging services are majorly adopted for business and personal commercial use, owing to their low cost as compared to satellite imagery. Furthermore, the data captured by these services is most recent as in some cases old satellites may not be able to reflect the most recent changes or developments. In addition, the resolution and clarity of aerial images are likely to be higher, which makes the real-time situation easier to understand. These advantages of aerial imaging services are expected to restrain the growth of the global commercial satellite market.
Satellites usually provide images with a resolution of 50 cm. However, efforts are being made by the leading players in the market to decrease the image resolution limit to 30 cm in the coming years. On the other hand, digital aerial cameras can capture images with a resolution of up to 25 mm (2.5 cm). Vexcel Corp. provides aerial photography with 6.50 cm resolution, and GeoEye-1 provides panchromatic imagery of 0.41 m resolution. Thus, advanced features offered by aerial imaging when compared to satellite imaging majorly restrains the growth of the commercial satellite imaging market.
Some of the newly introduced technologies include electric propulsion technology, high-resolution cameras, advanced remote sensing technology, next-generation GPS satellites, Light Detection and Ranging (LIDAR) technology, hyperspectral sensors, and multispectral sensors. Apart from these, the most recently developed technologies such as aerospace digital signal processors and large-scale anti-radiation field-programmable gate arrays are projected to make real-time image processing easy and overcome the limitation in satellite imaging. If a similar trend is attained in the future, satellite imagery is expected to be the preferred choice in almost all commercial applications, which is anticipated to provide massive growth opportunities for the market growth. Furthermore, development in data transmission capabilities, improvement in geospatial processing, and scalable cloud-based platforms is expected to provide new growth opportunities.
In addition, AI-based platforms offer insights into previously inaccessible factors such as social, industrial, and economic processes. In addition, Machine Learning (ML) algorithms are increasingly used to process daily satellite imagery to classify and detect objects, locate geographic and topographic features, and monitor minute changes over a span of time. Moreover, ML and AI automated algorithms can accurately detect various things visible on earth from the space such as cars in parking lots, crop yield, and geo-sensing in agricultural fields. Furthermore, an amalgamation of cloud computing with satellite imagery enables researchers to access imagery data from remote locations.
COVID-19 Impact Analysis
- This COVID-19 pandemic impacted the revenue streams allocated toward R&D and the adoption of new technologies
- In addition, remote sensing and imaging satellites have provided health care officials and other users with comparison imagery.
- Adverse impacts of the COVID-19 pandemic have resulted in delays in activities and initiatives regarding the development of commercial satellite imaging across the globe.
Key Findings of the Study
- By application, the geospatial data acquisition & mapping segment generated the highest revenue in 2021.
- By end user, the government segment was the highest revenue contributor in 2021.
- By region, North America contributed the highest revenue, followed by Europe, Asia-Pacific, and LAMEA in 2021.
- The key players analyzed in the commercial satellite imaging market include BlackSky, European Space Imaging, Galileo Group, Inc., ImageSat, L3Harris Technologies, Inc., Maxar Technologies Inc., Planet Labs Inc., Airbus S.A.S., SpaceKnow Inc., and Telespazio France.
Companies Mentioned
Key Market Players in the Commercial Satellite Imaging Market include:- BLACKSKY GLOBAL LLC
- EUROPEAN SPACE IMAGING
- GALILEO GROUP Inc
- HARRIS CORPORATION
- IMAGESAT INTERNATIONAL N.V
- MAXAR TECHNOLOGIES INC
- PLANET LABS INC
- SPACEKNOW
- TELESPAZIO FRANCE
- URTHECAST CORP
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 250 |
| Published | April 2024 |
| Forecast Period | 2022 - 2032 |
| Estimated Market Value ( USD | $ 3.3 billion |
| Forecasted Market Value ( USD | $ 9.6 billion |
| Compound Annual Growth Rate | 11.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
