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2022
Commercial Satellite Imaging Market

Commercial Satellite Imaging Market

By Application (Geospatial data acquisition and mapping, Urban planning and development, Disaster Management, Energy and natural resource management, Surveillance & Security, Defense & Intelligence, Others), By End User (Government, Military & defense, Forestry & Agriculture, Energy, Civil Engineering and Archaeology, Transportation and Logistics, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031

Report Code: A01423
Pages: 274
Jun 2022 | 28189 Views
Author(s) : Prateek Y , Sonia M
Tables: 134
Charts: 64
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The global commercial satellite imaging market was valued at $3.3 billion in 2021, and is projected to reach $9.2 billion by 2031, growing at a CAGR of 11.3% from 2022 to 2031.

The COVID-19 outbreak severely impacted the aerospace industry on a global level. For most of the large space manufacturers, the COVID-19 pandemic has hampered mission-deployments along with slowing down of new product deliveries due to disruption of supply chain. The pandemic also have impacted the revenue streams allocated towards the R&D and adoption of new technologies in commercial satellite imaging sector. However, the post pandemic demand for commercial satellite imaging is foreseen to grow appreciably owing to the growing application of commercial satellite imagery and analytics in various end use verticals.

Commercial Satellite Imaging Market, Commercial Satellite Imaging Industry

The commercial satellite imaging market is segmented into Application and End User.

 

Commercial satellite imaging mainly deals with capturing the images of earth through satellite also knowns as earth observation and utilizing these images for various commercial purposes is knows as commercial satellite imaging. Some of the foremost applications of commercial satellite include acquisition & mapping, disaster management, energy & natural resource management, urban planning & development, and security & surveillance. The importance of images captured through satellite is increasing due to rise in use of these images in environmental forecasting and responding quickly in emergency such as defense security events and natural calamities.  

The commercial satellite imaging market is segmented on the basis of application, end user, and region. By application, the market is classified into Geospatial data acquisition & mapping, Urban Planning & Development, Disaster Management, Energy & Natural Resource Management, Surveillance & Security, Defense & Intelligence and Other. By end user, it is segmented into Government, Military & Defense, Forestry and Agriculture, Energy, Civil Engineering and Archaeology, Transportation and Logistics and Others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players analyzed in the global commercial satellite imaging market are BlackSky, European Space Imaging, Galileo Group, Inc., ImageSat, L3Harris Technologies, Inc., Maxar Technologies Inc., Planet Labs Inc., Airbus S.A.S., SpaceKnow Inc. Telespazio France.

Commercial Satellite Imaging Market
By Application

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Defense & Intelligence is projected as the most lucrative segment

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Vital applications in government and defense services

Satellite imaging offers geospatial products and services for most of the government agencies and defense authorities for various applications, wherein security concern being the important one. With high image quality and precise information, 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 is further helping local government to better assess the real-life situations, which further helps in developing programs to save lives, protect properties, and enhance future economic stability of their respective communities.

Furthermore, in defense sector, current threat of terrorism and attack on critical infrastructure can be tracked through geographical mapping and can be protected by adopting preventive measures. With the help of satellite imaging, decision-making is becoming easier than before. Moreover, satellite imaging helps in precise mapping for mission planning, search and rescue operation, and formulating future developments. Therefore, government and defense sector collectively emerged as a major growth driver for this market.

Growth in dependence on location-based services

Location-based services (LBSs) are a set of services that use real time geo-data through internet capable devices in order to provide information about current location. LSBs are greatly dependent on geographical mapping, which is carried out with the help of satellite imagery. They are gaining immense popularity and are massively adopted in government sector, defense and intelligence, transportation, telecommunication, manufacturing, e-retailing, energy, and natural resource management industries. This is attributed to high-resolution imagery for the production of updated, highly accurate, and real-time maps by LBSs. Therefore, growth in adoption of LSBs is expected to drive the growth of the satellite imaging market.

Commercial Satellite Imaging Market
By End User

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Government sector is projected as the most lucrative segment

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LBSs help during flood, rescue events, natural calamities, and for weather forecasting to develop future programs to simplify the situational evets. Therefore, most of the countries are mandating the use of LBSs as it helps in decision-making for civil defense operations and in police and geographic information systems.

People are using location-based services through various internet capable devices such as smartphones, tracking devices, digital cameras, tablets, and fitness devices. Increase in adoption of smartphones across the globe accelerates the utilization of location-based services; thereby, boosting the market growth. In addition, various mobile applications such as business and communication apps, gaming apps, health and wellness apps, and personal convenience apps majorly use real-time positioning information. Thus, increase in trend of navigation and location-based services across various sectors is expected to drive the growth of the commercial satellite imaging market.

Commercial Satellite Imaging Market
By Region

2031
North America 
Lamea
Europe
Asia-pacific

Asia-Pacific would exhibit the highest CAGR of 12.9% during forecast period.

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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 2021 to 2031 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.

Commercial Satellite Imaging Market Report Highlights

Aspects Details
By Application
  • Defense & Intelligence
  • Others
  • Geospatial data acquisition and mapping
  • Urban planning and development
  • Disaster Management
  • Energy and natural resource management
  • Surveillance & Security
By End User
  • Government
  • Military & defense
  • Forestry & Agriculture
  • Energy
  • Civil Engineering and Archaeology
  • Transportation and Logistics
  • Others
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Spain, Russia, U.K., Rest of Europe, Germany, France)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Rest Of Asia Pacific)
  • LAMEA  (Brazil, Saudi Arabia, UAE, Israel, Rest of LAMEA)
Key Market Players 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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According to the insights offered by the CXOs of leading companies, the world commercial satellite market has a promising future for existing market players. The factors such as increase in applications of satellite imaging services such as geospatial mapping, disaster mapping, urban planning, and energy management are expected to drive the growth of the market. The major players in the market have developed and launched new satellites and image processing software to cater to a wider customer base across various nations globally. Furthermore, increase in number of satellites launches from various countries such as the U.S., Russia, India, Japan, the UK, Germany, and others as a result of growing security concerns is expected to develop new applications of stalling imaging during the forecast period. Moreover, incorporation of newly launched technologies such as remote sensor sensing technology and LiDAR technology is anticipated to provide lucrative growth opportunities for the market growth.

The defense end-user segment dominates the commercial satellite imaging market and is expected to maintain its dominance throughout the forecast period. However, the demand for satellite imagery is expected to grow significantly in various sectors such as agriculture, real estate, civil engineering, energy, and government. Therefore, decrease in prices of satellite imagery are 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 in the coming years.

The key market players 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., Telespazio France.

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FREQUENTLY ASKED QUESTIONS?

A. The global commercial satellite imaging market was valued at $3,281.2 million in 2021, and is projected to reach $9,195.2 million by 2031, registering a CAGR of 11.3% from 2022 to 2031.

A. 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. However, real time commercial satellite imaging along with better resolution foreseen to be a considerable trend

A. The commercial satellite imaghing market has witnessed significant growth over the past decade owing to the Increasing applications of satellite imaging services such as geospatial mapping, disaster mapping, urban planning, and energy management along with rise in requirement of satellite imaging data analytics from various industries.

A. Stringent government regulations for implementation and use of satellites and adoption of new technologies such as high-resolution cameras, advanced remote sensing technology have strong impact on commercial satellite imaging market

A. Application of commercial satellite imaging in government and defense services, Growth in dependence on location-based services and Rise in use of satellite data in development of smart cities and connected vehicles are some of the prominent factors driver the market growth

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