According to the Market Statsville Group (MSG), the global earth observation satellite systems market size is expected to grow from USD 14,226.9 million in 2022 to USD 24,070.6 million by 2030, at a CAGR of 6.1% from 2023 to 2030.
The Earth observation satellite is also termed the Earth remote sensing satellite. The main function of such satellites is to observe the planet Earth from space for several purposes. It is placed in space and monitors the Earth's data acquisition. The data acquired gives a unique and different view with which we can make effective decisions. The first earth observation satellite system (EOS), or remote sensing, the satellite was Sputnik 1, the first artificial satellite sent into Earth's orbit by the Soviet Union in the year 1957. It has various uses for various purposes, including environmental monitoring, cartography, navigation, etc. The troops of different countries likewise use the Earth observation satellite for spying and communication. For instance, The Google Map is the most common example of an application of EOS, which shows the images of Earth or the view available in an application called Google Earth.
The global earth observation satellite systems market is expected to be driven by growth in several applications covering agriculture, water resources, urban planning, rural development, mineral prospecting, the environment, forestry, ocean resources, and disaster management. This market is expected to drive the industry's growth. Further, the increasing demand for data analytics to provide accurate insights into earth observation across diverse industries according to their requirements demands a large amount of data. It has significantly driven the demand for the market, as satellites can catch data on a broader scale and over a more extensive area, which will increase the global earth observation satellite systems market’s growth in the forecast period.
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Scope of the Global Earth Observation Satellite Systems Market
The study categorizes the earth observation satellite systems market based on service, application, and end-user sector at the regional and global levels.
By Services Outlook (Sales, USD Million, 2017-2030)
Earth Observation (EO) Data
Value-Added Services (VAP)
By Application Outlook (Sales, USD Million, 2017-2030)
Data Acquisition
Mapping
Sustainable Development
Environment Management
Disaster Management
Surveillance and Security
Location-Based Service
Others
By End-User Outlook (Sales, USD Million, 2017-2030)
Defence and Intelligence
Infrastructure and Engineering
Agriculture
Energy and Power
Others
By Region Outlook (Sales, USD Million, 2017-2030)
North America
US
Canada
Mexico
Europe
Germany
Italy
France
UK
Spain
Poland
Russia
The Netherlands
Norway
Czech Republic
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Indonesia
Malaysia
Thailand
Singapore
Australia & New Zealand
Rest of Asia Pacific
South America
Brazil
Argentina
Colombia
Rest of South America
The Middle East & Africa
Saudi Arabia
UAE
South Africa
Northern Africa
Rest of MEA
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Value-Added Services (VAP) segment is projected to account for the largest market share by service
Based on service, the global earth observation satellite systems market is divided into earth observation (EO) data, and value-added services (VAP). In 2021, the value-added service segment accounted for the largest market share in the global earth observation satellite systems market. A value-added service (VAS) is a feature that a company uses to enhance the user experience or service that could function as a standalone product. In the VAS, the company collects, analyses, and presents data to the customer to better understand the Earth.
North America accounts for the highest CAGR during the forecast period
Based on the regions, the global earth observation satellite systems market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. Globally, North America is estimated to hold the highest CAGR in the global earth observation satellite systems market during the forecast period. The region includes the countries such as USA, Canada, and Mexico. The growth of the region is primarily due to advancements in science and technology. In addition, government support for aerospace is excessive, which drives the dominance of the market growth in the forecast period.
Furthermore, followed by the North-America, China, and other Asia-Pacific countries will hold the largest market share in the upcoming period.
Competitive Landscape - Global Earth Observation Satellite Systems Market
The global earth observation satellite systems market is highly competitive, with key industry players adopting various strategies such as product development, partnerships, acquisitions, agreements, and expansion to strengthen their market positions. Most companies in the market are focused on expanding operations across regions, augmenting their capabilities, and building strong partner relations.
Major players in the global earth observation satellite systems market are:
Airbus S.A.S.
GeoOptics Inc.
Hispasat
ImageSat International N.V
Capella Space
Maxar Technologies
Planet Labs Inc.
PlanetiQ
Virgin Orbit
UrtheCast
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Recent Developments
In January 2022, Capella Space signed a contract with the National Reconnaissance Office (NRO). Capella will work with the NRO through this contract to provide SAR data modeling and simulation, end-to-end regional imagery responsiveness demonstrations, theatre downlink demonstrations, and sample imagery delivery.
In April 2021, Maxar Technologies won a contract from the National Geospatial Agency (NGA) to provide high-resolution imagery data for the U.S. defense department.
In January 2020, Virgin Orbit, the California-based small satellite launch company, signed an agreement with ImageSat International (ISI), to develop an end-to-end responsive space service offering focused on national security customers.