Satellite-Based Earth Observation Market: Global Industry Analysis and Forecast 2023 -2029

Satellite-Based Earth Observation Market is expected to reach USD 4979.99 million at a CAGR of 4% during the forecast period 2029.
Satellite-Based Earth Observation Market Overview
Satellite-based Earth Observation (EO) is a process done with the help of satellites, which revolve around the planet to identify environmental changes, map-making and gather the information related to chemical, physical and biological aspects of the earth system.To know about the Research Methodology :- Request Free Sample Report

This gathered information is used to detect damage during floods, tsunamis, and other natural disasters, agricultural and usage, petroleum and mineral deposits, availability of water sources etc. Where many industries like defense and intelligence, infrastructure and engineering, natural resource management, energy and power, and disaster management use this gathered information by satellites to make the decision regarding various segments, which in return is expected to drive the growth of Satellite-Based Earth Observation Market during the forecast period.

The report provides a detailed study of key market dynamics, market segmentation and regional analysis. The market study contains detailed insights about how the Global Satellite-Based Earth Observation Market is anticipated to grow during the forecast period.
Satellite-Based Earth Observation Market Dynamics
The satellites are equipped with high-resolution cameras and advanced remote-sensing technology to get high satellite-based earth observation images. These improvements in satellite technology led the Satellite-Based Earth Observation Market to grow globally. Further, this data is used by defense, science, research and development organizations, and private users to lower technology barriers, which in turn is expected to boost the Satellite-Based Earth Observation Market globally.

Similarly, surveyors, farmers, miners, fishers, engineers, and other decision-makers along with Google Inc. use these data collected by satellites in mapping and location services to boost the Satellite-Based Earth Observation Market globally.

In addition to this, the government has invested about $10 billion in 2021 for the EO program in the civil and meteorology sector, which is likely expected to drive the growth of the Satellite-Based Earth Observation Market during the forecast period.

The ‘Group on Earth Observation System of Systems’ is system is incorporated to resolve the challenges arising due to its high investment cost and the incoordination among different databases continue due to the isolation of various satellites from one another, which is expected to hamper the Satellite-Based Earth Observation Market during the forecast period. Thus to resolve these challenges the system offers a single internet access point to all the users to get the information directly to the users across the various domains.
Recent Developments:
The Airbus Company in February 2022  reintroduced its portfolio of turnkey Earth observation systems, which offers a portfolio of end to end system. It involves standard products ranging from S250 optical and S250 radar all the way to absolute-high-end systems with the S850 radar and the S950 optical.
Satellite-Based Earth Observation Market Segmentation Analysis
By Application: The data collected by Satellite-based Earth Observation is analyzed and maintained by various industries for decision making in various segments. The data utilized by the Satellite-based Earth Observation holds the largest market share of 36.3% and value-added services hold about 27.2% of the market share in 2022. Where the data segment is expected to grow during the forecast period due to demand from users such as surveyors, farmers, miners, fishers, engineers, and others decision-makers, to pursue their business objectives. This is the reason the EO data segment is projected to grow with a CAGR of xx%, during the forecast period.By End User: Satellite is being used to monitor and collect the data related to chemical, physical and biological aspects of the earth system, which give the total analysis regarding damage during floods, tsunamis, and other natural disasters, agricultural and usage, petroleum and mineral deposits, availability of water sources etc. Defense and intelligence industry holds a maximum share of the Satellite-Based Earth Observation Market as it gives the data related to Border control, search operations and preparation of defensive actions at the national and regional levels, which are the key areas for the use of earth observation technologies.

In the engineering sector, civil engineering holds the largest share of EO data for mapping, pipeline routing, geological surveys and subsidence monitoring. Similarly in agriculture application, Satellite-Based Earth Observation is used to provide data for monitoring soil, snow cover, drought, crop development and rainfall assessments.
Satellite-Based Earth Observation Market Regional Analysis
North America is expected to hold a maximum share of xx% in the Satellite-Based Earth Observation Market during the forecast period due to constant research activities and investment for the highest adoption of satellites across the different industries in the region.

Developing countries like Vietnam, Malaysia, Kazakhstan and South Africa are expanding their autonomous activities, which may lead to the growth of the Market in the region. Similarly, initiatives taken by the government to develop highly advanced satellite imaging devices, for institutions and companies are expected to drive the growth of the Satellite-Based Earth Observation Market during the forecast period. According to the data given by the government, almost 50 countries will launch their own satellites during the forecast period, where Morocco and Pakistan were the

latest new countries to launch Earth observation satellites. Additionally, Geographic Information System (GIS) companies and manufacturers of mobile devices are joining hands with leading operators of remote sensing satellites, which are located in the United States, Europe, China and India. This in turn is expected to drive the growth of the  Market during the forecast period.
Global Satellite-Based Earth Observation Market Scope: Inquire before buying



Global Satellite-Based Earth Observation Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 3784.38 Mn.


Forecast Period 2023 to 2029 CAGR:
4%
Market Size in 2029:
US $ 4979.99 Mn.


 Segments Covered:
by Application
Data
VAS


by End User
Defense and Intelligence
•Infrastructure and Engineering
Agriculture
Energy and Power


by Satellite Orbit
Low Earth Orbit
Medium Earth Orbit
Geostationary orbit



Satellite-Based Earth Observation Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Satellite-Based Earth Observation Market, Key Players are
1. Airbus Defense and Space
2. MDA Corporation
3. UrtheCast Corporation
4. Harris Corporation
5. Planet Labs Inc.
6. GeoOptics Inc
7. Hispasat,
8. ImageSat International N.V
9. L3Harris Technologies Inc
10. Maxar Technologies
11. PlanetiQ, Thales Group
12. Dettwiler & Associates Ltd
13. Deimos Imaging S.l.
14. Skybox Imaging Inc
15. Rapid Eye A.G.

Frequently Asked questions

1. What is the market size of the Global Market in 2022?
Ans. The market size Global Market in 2022 was US$ 3784.38 Million.

2. What are the different segments of the Global  Market ?
Ans. The Global Market is divided into Application and End User.

3. What is the study period of this market?
Ans. The Global Market will be studied from 2022 to 2029.

4. Which region is expected to hold the highest Global Market share?
Ans. The Asia Pacific dominates the market share in the market.

5. What is the Forecast Period of Global  Market ?
Ans. The Forecast Period of the market is 2023-2029 in the market.