NEW
YORK, Jan. 3, 2025 /PRNewswire/ -- The
global satellite-based earth observation market size is
estimated to grow by USD 9.66 billion
from 2025 to 2029, according to Technavio. The market is estimated
to grow at a CAGR of over 12% during the forecast period. The
report provides a comprehensive forecast of key segments below-
Segmentation Overview
- Application
- 1.1 Defense
- 1.2 Weather
- 1.3 LBS
- 1.4 Energy
- 1.5 Others
- Type
- Geography
- 3.1 North America
- 3.2 APAC
- 3.3 Europe
- 3.4 South America
- 3.5 Middle East and
Africa
Get a glance at the market contribution of rest
of the segments - Download a FREE Sample Report in
minutes!
1.1 Fastest growing segment:
The defense segment held a substantial share in the global
satellite-based Earth observation market in 2023. This trend is
attributed to increasing defense spending on satellite technologies
for surveillance, security, and intelligence purposes 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 to provide
satellite communications. The Czech
Republic and Netherlands
armed forces will utilize two and three channels, respectively, of
Airbus' UHF military communications hosted payload on EUTELSAT 36D.
Launch scheduled for 2024, such agreements strengthen civil
contractors' presence in the military domain. The defense segment
is projected to witness growth through hybrid procurement,
combining public-private partnerships and proprietary
application/data purchase framework contracts, due to budgetary
constraints, low utilization rates, and industry competitiveness
enhancement.
Analyst Review
The Satellite-based Earth Observation market is a dynamic and
growing industry that provides valuable insights and data about the
Earth through various applications. This market caters to diverse
sectors including Defense, Border monitoring, Disaster management,
Military missions, and Civil engineering & construction.
High-resolution imaging services are essential for Defense &
intelligence, Agriculture & forestry, Transportation, Real
estate, and Urban planning. Big data technology plays a crucial
role in processing and analyzing vast amounts of satellite imagery.
Reusable rockets and alternative earth observation methods like
high-altitude balloons, Unmanned Aerial Vehicles (UAVs), and drones
are also gaining popularity. The market encompasses
Telecommunication services, Space economy, Commercial space
activities, and the Private spaceflight industry. Satellite imagery
is used for various purposes such as Infrastructure security,
Homeland security, Border mapping, and Infrastructure
development.
Market Overview
The Satellite-based Earth Observation market encompasses various
applications including defense sector, border monitoring, disaster
management, military missions, and civil engineering construction.
Big data technology plays a crucial role in processing
high-resolution imagery for defense & intelligence, agriculture
& forestry, transportation, real estate, and urban planning.
Reusable rockets and high-altitude balloons are transforming the
space economy, enabling commercial space activities and private
spaceflight industry. Telecommunication services and satellite
imagery are essential for government sector initiatives, smart city
development, and infrastructure security. Earth-imaging satellites
provide valuable data sources for meteorology, cartography, ocean
salinity, ice thickness, agricultural health, air quality, and
natural resource management. Technological capabilities include
high-resolution cameras, remote sensing technology, and satellite
analytics. Market growth is driven by the need for natural
catastrophe prevention, climate change mitigation, and scientific
research and development. However, market restraints include highly
trained workers, encrypted data security, big data management,
launch costs, and satellite production. Startups and global
corporations are investing in satellite imagery, orbits, and data
sources to address various industries and applications. Satellogic,
GeoterraImage, Imagesat International, MDA Corporation, Planet
Labs, and others are leading the way in satellite innovation.
Non-military purposes include environmental monitoring, weather
occurrences, and open-source data. Space programs and urban
development are also significant markets for satellite-based Earth
observation.
To understand more about this
market- Download a FREE Sample Report in minutes!
Key Topics Covered:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
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/
View original content to download
multimedia:https://www.prnewswire.com/news-releases/satellite-based-earth-observation-market-size-to-increase-by-usd-9-66-billion-between-2024-to-2029--market-segmentation-by-application-type-geography-technavio-302340634.html
SOURCE Technavio
