Satellite-based earth observation relies on payloads mounted on satellites to capture imaging data of earth's characteristics. Earth observation technologies employ different types of sensors such as optical or thermal sensors, radar sensors. Optical sensors monitor the energy received from earth due to the reflection and re-emission of the sun's energy by the earth's surface or atmosphere. They operate within the visible and infrared wavelengths of the electromagnetic spectrum. Radar sensors operate in the lower part of the spectrum (longer wavelengths). They send energy to earth and monitor the energy received back from earth's surface or atmosphere, allowing for day and night monitoring in all weather conditions.
Advancements in satellite technology, encompassing enhancements in sensors, imaging precision, and data processing capabilities, facilitate increasingly precise and detailed earth observation. These technological strides spur innovation, creating lucrative opportunities across diverse sectors. Moreover, notable shift has been observed toward downsizing satellite payloads and embracing CubeSats - a class of nano- and microsatellites. This trend allows for the deployment of smaller, more cost-effective satellites tailored for earth observation missions. By leveraging constellations of these diminutive satellites, the frequency of revisits and broader coverage of the earth's surface increases, which, in turn, augments the market growth. In addition, rise in demand for geospatial data spans numerous applications such as urban planning, agriculture, disaster response, and climate monitoring. Satellite-based earth observation, offering comprehensive and timely data, plays a pivotal role in facilitating informed decision-making within these domains, thereby propelling the market expansion. For instance, in October 2023, Suhora Technologies, an advanced monitoring and analytical geospatial solutions provider, announced a partnership with ICEYE, a satellite technology company, to access ICEYE's high-quality satellite imagery, enhancing Suhora's ability to provide advanced monitoring and analytical geospatial solutions to its users. This access to SAR data is crucial for situational awareness and timely decision-making across various sectors, including insurance, national security, disaster response, humanitarian relief, and climate change monitoring. As more industries recognize the value of satellite-based earth observation data for decision-making, the market is expected to grow significantly in the coming years.
For the purpose of analysis, the satellite-based earth observation market scope covers segmentation based on product type, satellite orbit, end use, and region. The report provides information about various product types of satellite-based earth observations such as EO data and value-added services. In addition, it highlights the details about the satellite orbit, including LEO, MEO, and GEO. Furthermore, defense, urban development & cultural heritage, agriculture, climate services, energy & raw materials, infrastructure, and others are the key end uses covered in the study. Moreover, it analyzes the current market trends of satellite-based earth observations across different regions such as North America, Europe, Asia-Pacific, and LAMEA and suggests future growth opportunities.
Some major companies operating in the market include Airbus SE, Boeing, Lockheed Martin Corporation, Mitsubishi Electric Corporation, Planet Labs PBC, RAYTHEON Technologies Corporation, Israel Aerospace Industries Ltd., L3HARRIS TECHNOLOGIES, INC., Thales Group, Maxar Technologies, BlackSky, Capella Space, SkyWatch Space Applications Inc., and ICEYE.
Advancements in satellite technology, encompassing enhancements in sensors, imaging precision, and data processing capabilities, facilitate increasingly precise and detailed earth observation. These technological strides spur innovation, creating lucrative opportunities across diverse sectors. Moreover, notable shift has been observed toward downsizing satellite payloads and embracing CubeSats - a class of nano- and microsatellites. This trend allows for the deployment of smaller, more cost-effective satellites tailored for earth observation missions. By leveraging constellations of these diminutive satellites, the frequency of revisits and broader coverage of the earth's surface increases, which, in turn, augments the market growth. In addition, rise in demand for geospatial data spans numerous applications such as urban planning, agriculture, disaster response, and climate monitoring. Satellite-based earth observation, offering comprehensive and timely data, plays a pivotal role in facilitating informed decision-making within these domains, thereby propelling the market expansion. For instance, in October 2023, Suhora Technologies, an advanced monitoring and analytical geospatial solutions provider, announced a partnership with ICEYE, a satellite technology company, to access ICEYE's high-quality satellite imagery, enhancing Suhora's ability to provide advanced monitoring and analytical geospatial solutions to its users. This access to SAR data is crucial for situational awareness and timely decision-making across various sectors, including insurance, national security, disaster response, humanitarian relief, and climate change monitoring. As more industries recognize the value of satellite-based earth observation data for decision-making, the market is expected to grow significantly in the coming years.
For the purpose of analysis, the satellite-based earth observation market scope covers segmentation based on product type, satellite orbit, end use, and region. The report provides information about various product types of satellite-based earth observations such as EO data and value-added services. In addition, it highlights the details about the satellite orbit, including LEO, MEO, and GEO. Furthermore, defense, urban development & cultural heritage, agriculture, climate services, energy & raw materials, infrastructure, and others are the key end uses covered in the study. Moreover, it analyzes the current market trends of satellite-based earth observations across different regions such as North America, Europe, Asia-Pacific, and LAMEA and suggests future growth opportunities.
Some major companies operating in the market include Airbus SE, Boeing, Lockheed Martin Corporation, Mitsubishi Electric Corporation, Planet Labs PBC, RAYTHEON Technologies Corporation, Israel Aerospace Industries Ltd., L3HARRIS TECHNOLOGIES, INC., Thales Group, Maxar Technologies, BlackSky, Capella Space, SkyWatch Space Applications Inc., and ICEYE.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the satellite-based earth observation market analysis from 2022 to 2032 to identify the prevailing satellite-based earth observation 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 satellite-based earth observation 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 satellite-based earth observation market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
By Product Type
- EO Data
- Value-Added Services
By Satellite Orbit
- Low Earth Orbit
- Medium Earth Orbit
- Geostationary Orbit
By End-use
- Defense
- Urban Development and Cultural Heritage
- Agriculture
- Climate Services
- Energy and Raw Materials
- Infrastructure
- 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
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Airbus SE
- BlackSky
- Boeing
- Capella Space
- ICEYE
- Israel Aerospace Industries Ltd.
- L3Harris Technologies, Inc.
- Lockheed Martin Corporation
- Maxar Technologies
- Mitsubishi Electric Corporation
- Planet Labs PBC
- Raytheon Technologies Corporation
- SkyWatch Space Applications Inc.
- Thales Group
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: SATELLITE-BASED EARTH OBSERVATION MARKET, BY PRODUCT TYPE
CHAPTER 5: SATELLITE-BASED EARTH OBSERVATION MARKET, BY SATELLITE ORBIT
CHAPTER 6: SATELLITE-BASED EARTH OBSERVATION MARKET, BY END-USE
CHAPTER 7: SATELLITE-BASED EARTH OBSERVATION MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Executive Summary
According to the report, “Satellite-Based Earth Observation Market," the satellite-based earth observation market was valued at $5.7 billion in 2021, and is estimated to reach $11.3 billion by 2031, growing at a CAGR of 7.2% from 2022 to 2031.North America is expected to dominate the global satellite-based earth observation market in 2021. Government and military organizations using satellite imaging for mapping, military reconnaissance, disaster management, and others. The increasing number of terrorist attacks and natural disasters, along with growing requirement for communication of sensitive information in such situations has increased the adoption of satellite-based earth observation.
Numerous companies are awarding contracts for the development of nanosatellites which can be launched into low earth orbit to provide earth observation data, fuels the growth of the low earth orbit segment. For instance, in April 2022, Promethee, a satellite operator, contracted NanoAvionics to build first nanosatellite for the company’s planned constellation of earth observation nanosatellites and image analysis platform. “ProtoMethee-1” will be based on NanoAvionics’ flight-proven 16U nanosatellite bus M16P and is planned for launch in low earth orbit (LEO) towards the end of 2023. The Protomethee-1 will provide data and images from its constellation which will be useful in forest fire detection, water management, and urban planning. In June 2021, SpaceX launched a Falcon 9 rocket and 88 small satellites with rideshare payloads into a polar orbit. The payloads in the launch comprised Earth observation satellites for commercial operators, including four satellites for ICEYE’s radar remote sensing fleet and four spacecraft for Satellogic’s optical Earth-imaging network.
The growth of the global satellite-based earth observation market has propelled due to surge in demand for big data technology to generate accurate insights on EO data, advancements in earth observation satellite technologies, and high-demand for high-resolution imaging services. However, rise in utilization of alternative earth observation technologies and lack of skilled & trained personnel are the factors that hamper the growth of the market. Furthermore, growth in investments by several governments in space technology is the factor expected to offer growth opportunities during the forecast period.
The impact of the COVID-19 pandemic has resulted in delayed development and launches of satellite, slowdown in the operation of the key players, and shortage of components. The pandemic has resulted in supply-chain disruptions causing delayed launches of satellites.
Shortage of components owing to regulations associated with import and export of goods have resulted in delayed manufacturing, and launch of satellites. Limited supply of liquid oxygen and liquid nitrogen owing to greater demand from hospitals to treat COVID-19 patients caused an 11 day delay in the launch of Landsat 9 satellite, a joint project of NASA and the U.S. Geological Survey. It was then launched in September 2021.
The satellite launch services and satellite manufacturing has been impacted by computer chip shortage, due to manufacturing shutdowns in China, South Korea and Taiwan. The limited chip supplies caused SpaceX to delay the development of a new user terminal for its Starlink satellite broadband system.
Moreover, space agencies utilized satellite data to track and monitor planet-wide changes in the environment during COVID-19. For instance, in 2020, NASA collaborated with European Space Agency (ESA), and Japan Aerospace Exploration Agency (JAXA) for use of their scientific capabilities in Earth-observation for monitoring planet-wide changes in the environment and human society. These agencies have created COVID-19 Earth Observation Dashboard to combine satellite data with analytical tools for tracking changes in air and water quality, climate change, economic activity, and agriculture, and enables the public and policymakers to monitor the short-term and long-term impacts of pandemic-related restriction.
Key Findings of the Study
- By product type, the value-added services segment is anticipated to exhibit significant growth in the near future.
- By satellite orbit, the ow earth orbit segment is anticipated to exhibit significant growth in the near future.
- By end-use, the others segment is anticipated to exhibit significant growth in the near future.
- By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.
- Key players operating in the global satellite-based earth observation market include Airbus S.A.S., Furuno Electric Co., Ltd., L3Harris Technologies, Inc., Inmarsat Global Limited, Intelsat S.A., Israel Aerospace Industries (IAI), Lockheed Martin Corporation, Planet Lab, Raytheon Technologies Corporation, Skywatch, STMicroelectronics N.V., The Boeing Company, and Thales Group.
Companies Mentioned
- Airbus SE
- BlackSky
- Boeing
- Capella Space
- ICEYE
- Israel Aerospace Industries Ltd.
- L3Harris Technologies, Inc.
- Lockheed Martin Corporation
- Maxar Technologies
- Mitsubishi Electric Corporation
- Planet Labs PBC
- Raytheon Technologies Corporation
- SkyWatch Space Applications Inc.
- Thales Group
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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