According to the report by Expert Market Research (EMR), the global satellite-based earth observation market size reached a value of USD 7.21 billion in 2023. Aided by the growing demand for enhanced data analytics, climate monitoring, and disaster management strategies, the market is projected to further grow at a CAGR of 6.8% between 2024 and 2032 to reach a value of USD 13.12 billion by 2032.
Satellite-based earth observation involves the collection and analysis of information about earth’s physical, chemical, and biological systems via remote sensing satellites. These observations play a critical role in environmental monitoring, urban planning, agriculture, forestry, and national security, offering invaluable insights into climate change, natural disasters, and resource management.
The escalation of climate change concerns and the urgent need for sustainable environmental practices serve as major catalysts propelling the satellite-based earth observation market demand. Governments, research institutions, and private entities worldwide are increasingly relying on EO data to formulate climate action policies, monitor environmental changes, and implement conservation strategies.
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Moreover, the integration of Artificial Intelligence (AI) and Machine Learning (ML) technologies in processing and analysing EO data has revolutionised the market. These advancements enable the extraction of more precise, actionable insights from vast datasets, enhancing decision-making processes in disaster response, urban development, and agricultural productivity.
The burgeoning commercial space sector, characterised by the proliferation of small satellite constellations and the reduction in launch costs, has further fuelled the satellite-based earth observation market growth. This democratisation of space has facilitated wider access to EO data, expanding its applications and fostering innovation in data services and analytics.
The Satellite-Based Earth Observation market showcases a global footprint, with North America and Europe leading in technological advancements, satellite launches, and the application of EO data. These regions benefit from robust space agencies, well-established research institutions, and substantial investments in space technologies.
The satellite-based earth observation market outlook is being influenced by the convergence of technology, environmental stewardship, and global connectivity, offering unprecedented opportunities to address some of the most pressing challenges facing humanity today. As we venture further into the 21st century, the insights derived from EO satellites will be indispensable in navigating the complexities of climate change, resource management, and sustainable development. With continued technological advancements and collaborative efforts, the Satellite-Based Earth Observation market is poised to play a central role in shaping a resilient and sustainable future for our planet.
Satellite-Based Earth Observation Market Segmentation
The market can be divided based on product type, satellite orbit, end-use, and region.
Market Breakup by Product Type
- EO Data
- Value-Added Services
Market Breakup by Satellite Orbit
- Low Earth Orbit
- Medium Earth Orbit
- Geostationary Orbit
Market Breakup by End-Use
- Defence
- Urban Development and Cultural Heritage
- Agriculture
- Climate Services
- Energy and Raw Materials
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Competitive Landscape of Satellite-Based Earth Observation Market
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global satellite-based earth observation market. Some of the major players explored in the report by Expert Market Research are as follows:
- Airbus SE
- Northrop Grumman Corporation
- RTX Corporation
- BAE Systems plc
- L3Harris Technologies Inc.
- Lockheed Martin Corporation
- Mitsubishi Electric Corp.
- ImageSat International NV
- GeoOptics Inc.
- Maxar Technologies Inc.
- Planet Labs PBC
- Others
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