Global Satellite-Based Earth Observation Market Report and Forecast 2024-2032

Global Satellite-Based Earth Observation Market Outlook

The global satellite-based earth observation market size reached approximately USD 7.21 billion in 2023. The market is further projected to grow at a CAGR of 6.8% between 2024 and 2032, reaching a value of USD 13.12 billion by 2032.

Key Trends in the Market

Satellite-based earth observation allows the identification and observation of environmental changes and urban development, among others with the help of satellites orbiting around the earth. The collected information is used for various applications including terrain and weather mapping, agriculture management and monitoring, and intelligence and reconnaissance missions, among others.

• The rising adoption of smart agriculture due to growing food requirements due to rapid expansion of the population is supporting the satellite-based earth observation market growth. With the help of multispectral satellite imagery, the farmers, agriculturists, and agronomists can detect nutrition deficiencies and diseases in crops along with early signs of stress.

• The market expansion is also supported by the increasing utilisation of satellites for environment monitoring including polar ice changes, deforestation, coral bleaching, and GHG emissions, among others. The recent advancements in imaging and sensing technologies enable the measurement of several indicators and deliver photos with better resolution.

• Growing adoption of commercial satellite imaging by various sectors for providing accurate insights coupled with technological advancements in satellite imagery are providing lucrative growth opportunities to the market.

Global Satellite-Based Earth Observation Market Analysis

On the basis of product type, the market is bifurcated into EO data and value-added services. Based on satellite orbit, the market is classified into low earth orbit, medium earth orbit, and geostationary orbit.

On the basis of end-use, the market is divided into defence, urban development and cultural heritage, agriculture, climate services, and energy and raw materials, among others. Based on region, the satellite-based earth observation market segmentation includes North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• Airbus SE 

• Northrop Grumman Corporation 

• RTX Corporation 

• BAE Systems plc 

• L3Harris Technologies Inc. 

• Lockheed Martin Corporation 

• Mitsubishi Electric Corp. 

• ImageSat International NV 

• GeoOptics Inc. 

• Maxar Technologies Inc. 

• Planet Labs PBC 

• Others

Market Share by End-Use

Defence sector is anticipated to account for a significant satellite-based earth observation market share. The observation aids in navigation of land-based operations and maritime. The utilisation of satellite-based observation systems enhances military operations by supporting surveillance, navigation, intelligence, and reconnaissance. The remote sensing technologies are used for tracking targets, border surveillance, and monitoring enemy position.

Market Share by Region

North America accounts for a significant share of the market. This growth can be attributed to the increasing research studies, presence of well-developed space infrastructure, and rising investments. The growing adoption of commercial satellite imaging by various sectors in the region is further boosting the satellite-based earth observation market demand. The satellites are equipped with various sensors that aid in disaster monitoring and observation of changes in earth caused by human activities and natural phenomena, providing necessary data to concerned authorities for disaster management.

Competitive Landscape

Airbus SE is an aviation and aerospace component manufacturing company that was founded in 2014 and is headquartered in Leiden, Netherlands. The company’s product portfolio includes helicopters, rockets, military aircraft, satellites, and missiles, among others.

Northrop Grumman Corporation is a defence and space manufacturing company that was founded in 1994 and is headquartered in Virginia, United States. The company provides autonomous systems and cyber and logistical solutions to their customers across the globe.

RTX Corporation is an aerospace and defence manufacturing company that was founded in 2020 and is headquartered in Virginia, United States. The company specialises in satellites, air and missile defence systems, advanced sensors, and cyber and software solutions, among others.

Other satellite-based earth observation market key players include BAE Systems plc, L3Harris Technologies Inc., Lockheed Martin Corporation, Mitsubishi Electric Corp., ImageSat International NV, GeoOptics Inc., Maxar Technologies Inc., and Planet Labs PBC, among others.

Key Highlights of the Report