Global Satellite Earth Observation Market Size, Forecast2030 | CAGR of 7%
The expansion of satellite earth observation is due to the increased usage of earth observation satellites in a variety of end-use industries, and the integration of digital data analysis and geospatial data fusion have all contributed to the market value increase.
According to a research report published by Spherical Insights & Consulting, the Global Satellite Earth Observation Market Size to grow from USD 7,705.9 billion in 2021 to USD 14,166 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 7% during the forecast period.
Based on the payload type, the satellite earth observation market is divided into SATCOM, EO/IR, Communication, Imaging, and Navigation. The SATCOM segment is expected to have the largest market share during the forecast period, driven by the widespread adoption of Satcom transceivers for transcontinental coverage across diverse networks. Satcom equipment finds applications in weather monitoring, military target observation, navigation, and communications. Factors such as the expansion of cloud-based services in ground mobility platforms and the increasing demand for high throughput satellite services contribute to the growth of the Satcom equipment market.
In terms of technology, the satellite earth observation market is segmented into Optical and Synthetic Aperture Radar. The optical segment is projected to exhibit a higher Compound Annual Growth Rate (CAGR) during the forecast period. Satellites equipped with optical technology play a crucial role in various industries, including urban planning, agriculture, and assessing damage from natural disasters. Optical satellites use sensors capable of detecting visible light and near-infrared radiation, providing data with horizontal spatial resolutions ranging from one to three hundred meters. This is expected to drive a significant surge in demand for optical technologies.
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Regarding applications, the Satellite Earth Observation Market is categorized into Infrastructure, Environment Monitoring, Energy, Natural Resources Monitoring, Maritime, Disaster Management, and Others. The disaster management segment is forecasted to experience a higher CAGR during the forecast period, emerging as a frontrunner in the global market for satellite earth observation. The prominence of disaster management is attributed to the ability of satellite data and services to provide information on wildlife trends, land use patterns, biodiversity tracking, and natural resource management, contributing to social, environmental, and economic sustainability.
Market Overview:
Satellite earth observation is carried out with the assistance of satellites around the world. This allows scientists to monitor and analyze changes in the surrounding environment, as well as create maps. The satellite earth observation technology collects and stores information from satellites. Satellite communication services offer a secure bandwidth capacity, which is excellent for military operations carried out in remote places with inadequate and unreliable communications infrastructure. In the next years, it is projected that the revenue earned by using fixed satellite services (also known as FSS) in applications used by the government and the military will experience a substantial increase. The capabilities of commercial satellites are being integrated into the military communication networks of nations worldwide. This is because the government is making more efforts to accommodate the increased communication requirements for a variety of applications, such as Airborne Intelligence, Surveillance, and Reconnaissance (AISR), and Communications on the Move (COM) (COTM).
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Recent Developments
Market segmentation:
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Spherical Insights has segmented the global satellite earth observation market based on the below-mentioned segments:
Global Satellite Earth Observation Market, By Payload Type
Global Satellite Earth Observation Market, By Altitude
By Regional
North America is estimated to account for the highest market share in 2021.
The Global Satellite Earth Observation market has been segmented into five major regions: Asia-Pacific, Europe, APAC, Latin America, and MEA. This is because the military and defense industries have an increasing requirement for continuous connection, which has led to a high adoption rate of satellite communication equipment by the United States Department of Defense (DoD). In addition, the expansion of the industry is taking help from a wide variety of providers of satellite communication, such as Telesat, Viasat, Inc., and EchoStar Corporation. In addition, over the course of the next few years, the regional market is expected to rapidly develop as a result of the modernization of the military's communication infrastructure. Asia-Pacific to hold a higher CAGR during the forecast period.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the Global satellite earth observation market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the companies' current news and developments, including product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
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The Global Satellite Earth Observation Market size research report aims to answer the
Following Key Questions:
I. What are the main products/services offered in the market and how are they evolving to meet changing consumer demands?
II. What are the key technological advances and innovations impacting the market and how will they affect the competitive landscape?
III. What are the key distribution channels and marketing strategies market players employ to effectively reach their target audience?
IV. What are the price trends in the market, and how do prices change across different product segments and geographies?
V. How will changing demographic patterns, such as age groups and income levels, affect consumer behaviour and market demand?
VI. What are the key cost factors and factors that influence the profitability of companies in the Global Satellite Earth Observation Market?
VII. How will sustainability and environmental considerations affect consumer preferences and market growth in this sector?
VIII. What are the investment opportunities and challenges for new entrants and investors looking to enter the market?
IX. How do government policies and regulations impact market dynamics and shape industry strategies?
X. What are the current supply chain trends and challenges in the market, and how do they affect product availability and pricing?
XI. What are the levels of customer satisfaction and loyalty within the market, and how do market participants differentiate in terms of service quality?
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