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.
Factors such as growth in dependence on location-based services, growing applications in government and defense services and rise in use of satellite data in development of smart cities and connected vehicles are expected to boost the growth of the commercial satellite imaging market. However, stringent government regulations for implementation and use of satellites restrains the growth of the market.
Furthermore, With the introduction of new technologies, the commercial satellite imaging market is exploring new growth dimensions. Technological advancements such as next generation GPS satellites, high-resolution cameras, advanced remote sensing are enhancing the use of commercial satellite imaging.
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.
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.
Factors such as growth in dependence on location-based services, growing applications in government and defense services and rise in use of satellite data in development of smart cities and connected vehicles are expected to boost the growth of the commercial satellite imaging market. However, stringent government regulations for implementation and use of satellites restrains the growth of the market.
Furthermore, With the introduction of new technologies, the commercial satellite imaging market is exploring new growth dimensions. Technological advancements such as next generation GPS satellites, high-resolution cameras, advanced remote sensing are enhancing the use of commercial satellite imaging.
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.
KEY BENEFITS FOR STAKEHOLDERS
- This study presents analytical depiction of the commercial satellite imaging market analysis along with the current trends and future estimations to depict the imminent investment pockets.
- The overall market potential is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities of the market with a detailed impact analysis.
- The current commercial satellite imaging market size is quantitatively analyzed from 2021 to 2031 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the Commercial Satellite Imaging industry.
Key Market Segments
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
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: COMMERCIAL SATELLITE IMAGING MARKET, BY APPLICATION
CHAPTER 5: COMMERCIAL SATELLITE IMAGING MARKET, BY END USER
CHAPTER 6: COMMERCIAL SATELLITE IMAGING MARKET, BY REGION
CHAPTER 7: COMPANY LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, titled, “Commercial Satellite Imaging Market," the commercial satellite imaging market was valued at $3.3 billion in 2021, and is estimated to reach $9.2 billion by 2031, growing at a CAGR of 11.3% from 2022 to 2031.Presently, North America dominates the market followed by Europe, Asia-Pacific, and LAMEA. In North America, the U.S. dominated the commercial satellite imaging market in 2021 and is expected to maintain its dominance during the forecast period. Some of the key factors that drive the market growth include increase in dependence on location-based services, growth in applications in government defense services, and rise in the use of satellite data in the development of smart cities and connected vehicles.
Satellite imaging offers geospatial products and services for most government agencies and defense authorities for security-related applications. With high image quality and precision, 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 helps the local governments to better assess real-life situations. This, in turn, contributes toward developing live-saving and property-protection programs and enhance the future economic stability of their respective communities.
Furthermore, the current threat of terrorism and attacks on critical infrastructure can be tracked through geographical mapping and can be protected by adopting preventive measures, in the defense sector. Decision-making is becoming easier than before with the help of satellite imaging. Moreover, satellite imaging helps in precise mapping for mission planning, search and rescue operations, and formulating future developments. Therefore, surge in usage of satellite imagery in government and defense sectors has collectively emerged as the major growth driver for the commercial satellite imaging market.
Satellite images are used for urban management or planning and for smart city development. . Urban planners use satellite imagery datasets containing useful information regarding annotated objects data to understand settlement trends and ensure efficient infrastructure management. In addition, rise in use of remote sensing technology for zoning and city infrastructure modeling has helped in meeting increasing demands from city-based populations toward better management of sustainable urban development. In addition, growth in urban agglomeration and monitoring urbanization of adjoining areas to enable smart city planning and implementation is propelling satellite imagery adoption. Moreover, connected as well as autonomous vehicles leverage high-definition (HD) maps, seamless internet access, and roadside assistance during an emergency from space using commercial satellite imaging. Therefore, increase in use of satellite data for development of smart cities and connected vehicles is anticipated to offer lucrative growth opportunities for the commercial satellite imaging market. For instance, in April 2019, Maxar Technologies Inc. announced a collaboration with Toyota Research Institute-Advanced Development, Inc. (TRI-AD) and a leading IT services provider NTT DATA Corporation to create automated HD maps of the Tokyo metropolitan region for autonomous vehicles using high-resolution satellite imagery data.
Aerial imaging services are majorly adopted for business and personal commercial use, owing to their low cost as compared to satellite imagery. Furthermore, the data captured by these services is most recent as in some cases old satellites may not be able to reflect the most recent changes or developments. In addition, the resolution and clarity of aerial images are likely to be higher, which makes the real-time situation easier to understand. These advantages of aerial imaging services are expected to restrain the growth of the global commercial satellite market.
Satellites usually provide images with a resolution of 50 cm. However, efforts are being made by the leading players in the market to decrease the image resolution limit to 30 cm in the coming years. On the other hand, digital aerial cameras can capture images with a resolution of up to 25 mm (2.5 cm). Vexcel Corp. provides aerial photography with 6.50 cm resolution, and GeoEye-1 provides panchromatic imagery of 0.41 m resolution. Thus, advanced features offered by aerial imaging when compared to satellite imaging majorly restrains the growth of the commercial satellite imaging market.
Some of the newly introduced technologies include electric propulsion technology, high-resolution cameras, advanced remote sensing technology, next-generation GPS satellites, Light Detection and Ranging (LIDAR) technology, hyperspectral sensors, and multispectral sensors. Apart from these, the most recently developed technologies such as aerospace digital signal processors and large-scale anti-radiation field-programmable gate arrays are projected to make real-time image processing easy and overcome the limitation in satellite imaging. If a similar trend is attained in the future, satellite imagery is expected to be the preferred choice in almost all commercial applications, which is anticipated to provide massive growth opportunities for the market growth. Furthermore, development in data transmission capabilities, improvement in geospatial processing, and scalable cloud-based platforms is expected to provide new growth opportunities.
In addition, AI-based platforms offer insights into previously inaccessible factors such as social, industrial, and economic processes. In addition, Machine Learning (ML) algorithms are increasingly used to process daily satellite imagery to classify and detect objects, locate geographic and topographic features, and monitor minute changes over a span of time. Moreover, ML and AI automated algorithms can accurately detect various things visible on earth from the space such as cars in parking lots, crop yield, and geo-sensing in agricultural fields. Furthermore, an amalgamation of cloud computing with satellite imagery enables researchers to access imagery data from remote locations.
COVID-19 Impact Analysis
- This COVID-19 pandemic impacted the revenue streams allocated toward R&D and the adoption of new technologies
- In addition, remote sensing and imaging satellites have provided health care officials and other users with comparison imagery.
- Adverse impacts of the COVID-19 pandemic have resulted in delays in activities and initiatives regarding the development of commercial satellite imaging across the globe.
Key Findings of the Study
- By application, the geospatial data acquisition & mapping segment generated the highest revenue in 2021.
- By end user, the government segment was the highest revenue contributor in 2021.
- By region, North America contributed the highest revenue, followed by Europe, Asia-Pacific, and LAMEA in 2021.
- The key players analyzed in the commercial satellite imaging market include BlackSky, European Space Imaging, Galileo Group, Inc., ImageSat, L3Harris Technologies, Inc., Maxar Technologies Inc., Planet Labs Inc., Airbus S.A.S., SpaceKnow Inc., and Telespazio France.
Companies Mentioned
- 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
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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