Satellite-Based Earth Observation Market Size, Trends and Growth 2022 to 2027

Market Overview 2022-2027:

The latest research study “Satellite-based Earth Observation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global satellite-based earth observation market reached a value of 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.

Industry Definition and Application:

Satellite-based Earth observation (EO) is done with satellites orbiting around the surface of Earth to observe, view, and identify environmental change, map making, and others. It gathers crucial information about the chemical, physical, and biological systems of the Earth using remote sensing technologies and surveying techniques. This technique allows the measurement of geophysical parameters of the Earth from the orbit with the use of sensors and cameras. The gathered data is effectively used to predict climate patterns, agricultural usage, weather changes, disasters, natural calamities, oil and mineral deposits, and the availability of water resources. Owing to these properties, it finds extensive application in defense, infrastructure, engineering, agriculture, energy, and power sector across the globe.

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Market Trends:

The market is primarily driven by the escalating demand for large data technology to generate accurate and valuable insights into Earth Observation data. In addition, forest degradation is accelerating the need for satellite-based EO for the sustainable management of protected forest areas to protect individuals and infrastructure, which is contributing to market growth.

Moreover, governments of various economies are facilitating the adoption of smart and precision farming practices due to the rising food safety concerns and declining arable land, which is expanding the application of satellite-based EO systems in information-guided agriculture. Besides this, satellite-based EO is gaining popularity in rural development and sustainable urban planning as it offers high-resolution satellite imagery data that helps monitor urban change processes.

This, coupled with the extensive utilization of high-accuracy datasets in defense and intelligence for airfields monitoring, crime mapping, land surveillance activities, and critical infrastructure protection, is creating a positive market outlook across the globe.

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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 Region:

• 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

Competitive Landscape with Key Player:​

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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