Dublin, Jan. 23, 2023 (GLOBE NEWSWIRE) -- The "Satellite-Based Earth Observation Market By Product Type, By Satellite Orbit, By End-use: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
According to the report, "Satellite-Based Earth Observation Market," the satellite-based earth observation market was valued at $5.7 billion in 2021, and is estimated to reach $11.3 billion by 2031, growing at a CAGR of 7.2% from 2022 to 2031.
North America is expected to dominate the global satellite-based earth observation market in 2021. Government and military organizations using satellite imaging for mapping, military reconnaissance, disaster management, and others. The increasing number of terrorist attacks and natural disasters, along with growing requirement for communication of sensitive information in such situations has increased the adoption of satellite-based earth observation.
Numerous companies are awarding contracts for the development of nanosatellites which can be launched into low earth orbit to provide earth observation data, fuels the growth of the low earth orbit segment. For instance, in April 2022, Promethee, a satellite operator, contracted NanoAvionics to build first nanosatellite for the company's planned constellation of earth observation nanosatellites and image analysis platform.
"ProtoMethee-1" will be based on NanoAvionics' flight-proven 16U nanosatellite bus M16P and is planned for launch in low earth orbit (LEO) towards the end of 2023. The Protomethee-1 will provide data and images from its constellation which will be useful in forest fire detection, water management, and urban planning.
The growth of the global satellite-based earth observation market has propelled due to surge in demand for big data technology to generate accurate insights on EO data, advancements in earth observation satellite technologies, and high-demand for high-resolution imaging services. However, rise in utilization of alternative earth observation technologies and lack of skilled & trained personnel are the factors that hamper the growth of the market. Furthermore, growth in investments by several governments in space technology is the factor expected to offer growth opportunities during the forecast period.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the satellite-based earth observation market analysis from 2021 to 2031 to identify the prevailing satellite-based earth observation market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the satellite-based earth observation market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global satellite-based earth observation market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Product Type
- EO Data
- Value-Added Services
By Satellite Orbit
- Low Earth Orbit
- Medium Earth Orbit
- Geostationary orbit
By End-use
- Defense
- Urban Development and Cultural Heritage
- Agriculture
- Climate Services
- Energy and Raw Materials
- Infrastructure
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Russia
- Rest Of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest Of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Airbus S.A.S.
- Boeing Defense
- Israel Aerospace Industries Ltd.
- Lockheed Martin Corporation
- Mitsubishi Electric Corporation
- Intelsat S.A.
- Inmarsat plc.
- Planet Labs PBC
- L3Harris TECHNOLOGIES, INC.
- SkyWatch Space Applications Inc.
- Raytheon
- ST Microelectronics N.V
- Thales Group
- Furuno Electronic
Key Findings of the Study
- By product type, the value-added services segment is anticipated to exhibit significant growth in the near future.
- By satellite orbit, the ow earth orbit segment is anticipated to exhibit significant growth in the near future.
- By end-use, the others segment is anticipated to exhibit significant growth in the near future.
- By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.
Key Topics Covered:
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: SATELLITE-BASED EARTH OBSERVATION MARKET, BY PRODUCT TYPE
CHAPTER 5: SATELLITE-BASED EARTH OBSERVATION MARKET, BY SATELLITE ORBIT
CHAPTER 6: SATELLITE-BASED EARTH OBSERVATION MARKET, BY END-USE
CHAPTER 7: SATELLITE-BASED EARTH OBSERVATION MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
For more information about this report visit https://www.researchandmarkets.com/r/4fc01c
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