The Business Research Company’s Satellite-Based Earth Observation Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Satellite-Based Earth Observation Global Market Report 2023 evaluates satellite-based earth observation market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global satellite-based earth observation market is expected to grow from $5.63 billion in 2022 to $6.14 billion in 2023 at a compound annual growth rate (CAGR) of 9.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and resulted in increased interest rates affecting many markets across the globe. The satellite-based earth observation market is expected to reach $8.33 billion in 2027 at a CAGR of 7.9%.
The increasing number of satellite launches is expected to propel the growth of the satellite-based earth observation market going forward. A satellite refers to a device launched into orbit around Earth or another celestial body for various purposes, including collecting information, navigation, and scientific research. Satellites are equipped with sensors to monitor and capture images of the Earth’s surface for multiple uses, including weather forecasting and environmental and climate change monitoring. For instance, in March 2023, according to the United Nations Office for Outer Space Affairs, a US-based government agency, the number of objects launched into space increased from 1,810 in 2021 to 2,163 in 2022. Furthermore, in September 2022, according to the Government Accountability Office, a US-based independent and nonpartisan government agency, as of spring 2022, there were approximately 5,500 active satellites in orbit, and it is predicted that 58,000 more will be launched by 2030. Therefore, the increasing number of satellite launches is driving the growth of the satellite-based earth observation market.
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The satellite-based earth observation market segments in the report are:
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
The table of contents in TBRC’s satellite-based earth observation market report includes:
- Executive Summary
- Satellite-Based Earth Observation Market Characteristics
- Satellite-Based Earth Observation Market Trends And Strategies
- Satellite-Based Earth Observation Market – Macro Economic Scenario
- Satellite-Based Earth Observation Market Segmentation.
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- Global Satellite-Based Earth Observation Market Competitive Benchmarking
- Global Satellite-Based Earth Observation Market Competitive Dashboard
- Key Mergers And Acquisitions In The Satellite-Based Earth Observation Market
- Satellite-Based Earth Observation Market Future Outlook and Potential Analysis
- Appendix
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