Satellite-Based Earth Observation Market Insights: In-Depth Look at Growth Trends, Market Size, and Opportunities for 2025-2034
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
What External and Internal Drivers Are Contributing to the Growth of theSatellite-Based Earth Observation Market?
The growth of the satellite-based earth observation market is anticipated to be spurred by the escalating number of satellite launches. A satellite, which is a gadget launched into orbit around Earth or some other celestial body, serves a variety of functions such as data collection, navigation, and scientific research. These satellites are fitted with sensors that scrutinize and capture the Earth’s surface images for various applications including environmental and climate change monitoring and weather prediction. As noted by the United Nations Office for Outer Space Affairs, a US government agency, in March 2023, the count of objects sent into space surged from 1,810 in 2021 to 2,163 in 2022. Moreover, the US Government Accountability Office, an independent and nonpartisan government institution, reported that as of spring 2022, an estimated 5,500 satellites were active in orbit. The prediction is that an additional 58,000 will be commissioned by 2030. Hence, the escalating number of satellite launches is fueling the expansion of the satellite-based earth observation market.
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#What Growth Opportunities Will Drive the Satellite-Based Earth Observation Market’s CAGR Through 2034?
In recent times, the market size for satellite-based earth observation has seen significant growth. It is projected to escalate from $6.55 billion in 2024 to $7.09 billion in 2025, showing a compound annual growth rate (CAGR) of 8.3%. Factors contributing to this growth during the historic period include government investment in space programs, heightened need for environmental surveillance, expansion in agricultural and forestry applications, increasing requirement for disaster management solutions, and the broadening of defense and intelligence applications.
In the coming years, the satellite-based earth observation market is predicted to witness solid growth, estimating to reach $9.53 billion in 2029, boasting a compound annual growth rate (CAGR) of 7.7%. The anticipated growth during this forecast period can be credited to escalating demand for data analytics in geospatial industries, greater commercial industry uptake of satellite-based services, increased requirements for monitoring climate change, expanding satellite constellations, and advancing the development of small satellites intended for earth observation. The forecast period is also expected to see the emergence of trends such as high resolution imaging capacities, the incorporation of artificial intelligence (AI) and machine learning in data interpretation, the utilization of CubeSat technology, the pioneering of hyperspectral imaging satellites, and a rising emphasis on the creation of sustainable and environmentally friendly satellite technologies.
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Which Upcoming Market Trends and Innovations Are Set to Influence theSatellite-Based Earth Observation Market’s Path Forward?
Technological innovation is a key trend emerging in the satellite-based earth observation market. To maintain their market standing, significant market players are investing in high-tech solutions. For example, in November 2022, the Indian Space Research Organization (ISRO), a national space agency based in India, introduced the Earth Observation Satellite-6 (EOS-6), marking the third generation of Indian satellites geared towards ocean monitoring. This satellite series, for the first time, includes three different ocean observation sensors: the Ku-Band scatterometer (SCAT-3), the Sea Surface Temperature Monitor (SSTM), and the Ocean Color Monitor (OCM-3). The sophisticated 13-channel OCM, which contains a 1400 km swath and 360 m spatial resolution, will continuously survey the earth’s surface and provide crucial information regarding the distribution of ocean algae (forming the base of the marine food chain). Owing to its high signal-to-noise ratio, the OCM-3 is expected to provide improved accuracy for everyday phytoplankton monitoring. Its potential applications extend from fishery resource management to ocean carbon uptake, dangerous algal bloom notifications, and climate studies.
Who Are the Dominant Market Players Pushing the Boundaries of theSatellite-Based Earth Observation Market?
Major companies operating in the satellite-based earth observation market include Raytheon Technologies Corporation, Lockheed Martin Corp., Airbus SE, BAE Systems Plc, Thales Group, L3Harris Technologies Inc., Israel Aerospace Industries Ltd., Viasat, Maxar Technologies Inc., MDA Corporation, Planet Labs Inc., Spire Global, BlackSky Global, Iceye, EOS Data Analytics, RS Metrics, D-Orbit, Descartes Labs, UrtheCast, Orbital Insight, GHGSat, Satellogic SA, GomSpace, SkyWatch Inc., Global Surface Intelligence Ltd., PlanetiQ Inc., GeoOptics Inc., ImageSat International N.V, Capella Space, HawkEye 360
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The satellite-based earth observation market covered in this report is segmented –
1) By Product Type: Earth Observation (EO) Data, Value Added Services
2) By Satellite Orbit: Low Earth Orbit, Medium Earth Orbit, Geostationary Orbit
3) By Technology: Optical, Synthetic Aperture Radar
4) By Payload Type: Satellite Communications (SATCOM), Electro-Optical Or Infra-Red (EO Or IR), Communication, Imaging, Navigation
5) By End-User: Defense And Intelligence, Infrastructure And Engineering, Agriculture, Energy And Power, Other End-Users
Subsegments:
1) By Earth Observation (EO) Data: Optical Satellite Data, Radar Satellite Data, Hyperspectral Satellite Data, Thermal Infrared Satellite Data, LiDAR Data
2) By Value Added Services: Data Processing and Analysis, Geographic Information Systems (GIS) Services, Data Visualization Services, Consulting Services, Custom Application Development
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What Regions Are Dominating the Satellite-Based Earth Observation Market Growth?
North America was the largest region in the satellite-based earth observation market in 2024. The regions covered in the satellite-based earth observation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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