What Has Been the Growth of the Satellite-Based Earth Observation Market So Far?
The satellite-based earth observation market has seen considerable growth due to a variety of factors.
•The market size for satellite-based earth observation has experienced a robust growth in the recent past. Anticipated development from $6.55 billion in 2024 to $7.09 billion in 2025, boasts a compound annual growth rate (CAGR) of 8.3%.
The historical growth can be credited to factors including government's inclination towards space programs, the burgeoning requirement for environmental surveillance, expansion in agricultural and forestry applications, increased demand for disaster management solutions, and the proliferation of defense and intelligence applications.
What Are the Future Growth Projections for the Satellite-Based Earth Observation Market?
The satellite-based earth observation market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for satellite-based earth observation is anticipated to experience robust growth in the following years, escalating to $9.53 billion in 2029 with a 7.7% compound annual growth rate (CAGR).
This growth over the projection period can be credited to the escalated demand for geospatial data analytics, the rising engagement of commercial industries with satellite-based services, the burgeoning necessity for monitoring climate changes, the expansion of satellite constellations, and the innovation of micro satellites for earth observation. Noteworthy trends over the projection period include the dawn of high-definition imaging capabilities, the incorporation of artificial intelligence (AI) and machine learning in data interpretation, the engagement with CubeSat technology, the innovation of hyperspectral imaging satellites, and a growing emphasis on environmentally friendly and sustainable satellite technologies.
Which Factors Are Boosting Growth In The Satellite-Based Earth Observation Market?
The rise in satellite launches is anticipated to drive the expansion of the satellite-based earth observation market. Satellites, which are devices sent into orbit around the Earth or other heavenly bodies with the purpose of gathering data, navigation, and conducting scientific studies, are playing a major role in this growth. They are outfitted with sensors to observe and capture pictures of the Earth's surface for a variety of applications, such as weather prediction and monitoring environmental and climate changes. The United Nations Office for Outer Space Affairs reported that the quantity of objects sent into space rose from 1,810 in 2021 to 2,163 in 2022, as of March 2023. In addition, the US Government Accountability Office, an independent, nonpartisan government agency, stated in September 2022 that as of spring 2022, roughly 5,500 satellites were in orbit, with an estimated 58,000 more slated for launch by 2030. Consequently, the growing rate of satellite launches is propelling the expansion of the satellite-based earth observation market.
What Key Areas Define The Segmentation Of The Global Satellite-Based Earth Observation Market?
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
Pre-Book The Satellite-Based Earth Observation Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
How Are Emerging Trends Reshaping The Dynamics Of The Satellite-Based Earth Observation Market?
The trend of technological advancements is gaining momentum in the satellite-based earth observation market. The primary focus of big players in the sector is to evolve with technical progress to maintain their market standing. For instance, in November 2022, the Earth Observation Satellite-6 (EOS-6), a third-generation Indian satellite for ocean monitoring, was launched by the Indian Space Research Organization (ISRO). This is the first in the series to carry three ocean observation sensors, namely: the Ku-Band scatterometer (SCAT-3), the Sea Surface Temperature Monitor (SSTM), and the Ocean Color Monitor (OCM-3). The OCM, an advanced 13-channel device capable of a 1400 km swath and 360 m spatial resolution, will constantly monitor the earth's surface. It is designed to provide crucial data regarding ocean algae distribution, an essential element in the marine food chain. The OCM-3, notable for its high signal-to-noise ratio, promises improved daily phytoplankton monitoring accuracy, which has various operational and research uses like management of fishery resources, tracking oceanic carbon absorption, notification of destructive algal blooms, and climate studies.
Who Are the Key Players in the Satellite-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
What Is The Most Dominant Region In The Satellite-Based Earth Observation Market?
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
