Satellite-Based Earth Observation Market – Trends, Growth

According to the latest report by IMARC Group, titled “Satellite-Based Earth Observation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the global satellite-based earth observation market share. The global satellite-based earth observation market size reached US$ 3.08 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 4.53 Billion by 2027, exhibiting a CAGR of 6.40% during 2022-2027.

Satellite-based earth observation (EO) gathers information regarding the chemical, biological, and physical systems of the Earth using satellites, remote sensing technologies, and surveying techniques to identify, observe and view environmental change. It relies on the measurement of geophysical parameters of the Earth from orbit with sensors and cameras that help manage resources, monitor, and protect the environment, respond to humanitarian disasters, and allow sustainable development. As a result, satellite-based earth observation (EO) is widely adopted in agriculture, defense, engineering, infrastructure, energy, and power sectors across the globe.

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Satellite-based Earth Observation Market Trends:

The market is primarily driven by the rising demand for satellite-based EO for its ability to offer real-time information on atmospheric features and occurrences essential for value and accurate insights into earth observation data and weather forecasting, such as wind, disaster, flood, and weather patterns. In addition, the increasing adoption of satellite-based EO for observing and monitoring deforestation, coral bleaching, polar ice, wildfires, and greenhouse gas emissions (GHG) is contributing to market growth.

Moreover, several technological advancements in sensing and high-resolution imaging technologies and various scientific measurement and communication instruments represent another major growth-inducing factor. Besides this, the growing applications of satellite-based EO for predicting agricultural usage, climate patterns, natural calamities, oil and mineral deposits, and water resources availability is providing a positive thrust to the market growth.

Furthermore, the extensive use of high-accuracy datasets in the defense and intelligence sector for airfield monitoring, land surveillance activities, critical infrastructure protection, and crime mapping is also creating a favorable market outlook.

Key Market Segmentation:

The report has been segmented the market into following categories:

Breakup by Solution:

Data
Value Added Services

Breakup by End User:

Defense and Intelligence
Infrastructure and Engineering
Agriculture
Energy and Power
Others

Breakup by Geography:

North America: (United States, Canada)
Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America: (Brazil, Mexico, Others)
Middle East and Africa

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List of Key Companies Covered in this Market Report:

The major players in the market are Airbus SE, BAE Systems plc, GeoOptics Inc., ImageSat International N.V., L3Harris Technologies Inc., Lockheed Martin Corporation, Maxar Technologies Inc., Northrop Grumman Corporation, OHB System AG (OHB SE), Planet Labs PBC, Raytheon Technologies Corporation and Thales Group.

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About IMARC Group:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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