Earth Observation Satellite Market Overview

The global earth observation satellite market will touch USD 0.5 billion at a 6.90% CAGR by 2030, as per the recent Market Research Future report.

Drivers 

Growing Need for Big Data for Accurate EO Data Insights to Boost Market Growth

In recent years, the volume of Earth observation (EO) data has surged exponentially, driving the demand for big data technology to extract valuable insights on critical global issues like climate change. With EO satellites producing vast amounts of data daily, there’s a constant need for storage, processing, and analysis. Big data technologies are essential to efficiently handle and analyze the diverse formats, semantics, modalities, and resolutions of EO data.

Free Sample Report @ https://www.marketresearchfuture.com/sample_request/5968

Key Players 

Eminent market players profiled in the global earth observation satellite market report include Airbus Defence and Space (U.S.), OHB SE (Germany), Boeing Defense Space & Security (U.S.), JSC Information Satellite Systems (Russia), Lockheed Martin (U.S.), Orbital ATK (U.S.), Space Systems/Loral (U.S.), Thales Alenia Space (France), and Space Exploration Technologies Corp. (U.S.).

Opportunities

Burgeoning Demand for High-Resolution Imaging Services to offer Robust Opportunities

Satellites provide high-resolution images that serve monitoring and verification needs across various industries such as civil engineering, construction, government, defense, transportation, agriculture, forestry, real estate, and more. These images are instrumental in topographic mapping, aiding in infrastructure planning, energy exploration, disaster management, and monitoring activities like oil and gas drilling. Additionally, high-resolution satellite imagery facilitates tasks like traffic control, fleet tracking, environmental monitoring, and assessing vegetation damage. In the coming years, satellite imaging is expected to play a significant role in sectors like real estate and insurance, providing detailed insights into buildings, properties, and environmental risks. As a result, the market for satellite imaging is projected to expand steadily due to its widespread adoption across various industries.

Restraints and Challenges 

High Cost to act as Market Restraint

Challenges such as the expensive nature of EO satellite technology, a shortage of trained professionals, interoperability concerns, and operational limitations could restrain market expansion in the foreseeable future. Additionally, the impact of COVID-19 may further hinder growth prospects.

Full Report @ https://www.marketresearchfuture.com/reports/earth-observation-satellite-market-5968

Market Segmentation

The global market for earth observation satellites is segmented according to satellite orbit, product type, and end use.

Value-added services are projected to spearhead the market in terms of product type throughout the forecast period.

Regarding satellite orbit, the market is divided into geostationary orbit, medium earth orbit, and low earth orbit.

In terms of end use, the defense sector is expected to dominate the market over the forecast period.

Regional Analysis

North America to Head Earth Observation Satellite Market

Investments in monitoring and surveillance technology are poised to elevate North America’s position in the market. The region is expected to lead in various civil operations such as border control, tactical support, natural disaster management, risk assessment, environmental monitoring, and counter-piracy efforts. Notably, SpaceX and Airbus Defence collaborated to develop the inaugural Spanish earth observation satellite, aiming to bolster these capabilities.

Related Reports

Nano and Micro Satellite Market Research Report Information by Component (Hardware, Software Data Processing, Service and Launch Service), Mass (1 kg-10 kg and 11 kg-100 kg),Application (Earth Observation and Remote Sensing, Scientific Research, Communication, Academic Training, Mapping and Navigation, Biological Experiment, Technology Demonstration and Verification and Reconnaissance), End User (Defense, Commercial, Civil, Government, Maritime Transportation and Energy Infrastructure) and Region (North America, Europe, Asia-Pacific, Middle, Market Forecast Till 2030

Satellite Manufacturing And Launch Market Research Report Information By Application (Military, Commercial, and Government), By End-User (Weather Forecast, Internet Services and Navigation), And By Region (Europe, Asia-Pacific, North America, And Rest Of The World) – Market Forecast Till 2030

Remote Sensing Satellite Market Research Report Information By System (SATCOM, Radar, EO/IR, Others), By Application (Earth Observation, Telecommunication, Meteorology, Mapping & Navigation, Others), By End-User (Defense, Commercial) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032.

About Market Research Future:

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide.

Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients.

Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

Tags: Earth Observation Satellite industry, Earth Observation Satellite market, global Earth Observation Satellite market