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Satellite-Based Earth Observation Market Analysis 2023: Market Growth Rate, Competitive Landscape And Top Opportunities
Satellite-Based Earth Observation
The Business Research Company's Satellite-Based Earth Observation Global Market Report 2023 identifies number of satellite launches as the major driver for the Satellite-Based Earth Observation market's growth in the forecast period. 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.
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%.
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Major competitors in the Satellite-Based Earth Observation market are Raytheon Technologies Corporation, Lockheed Martin Corp., Airbus SE, BAE Systems Plc, Thales Group.
A key trend in the Satellite-Based Earth Observation market includes technological advancements. Major companies operating in the satellite-based earth observation market are focused on developing technically advanced solutions to sustain their position in the market. For instance, in November 2022, the Indian Space Research Organization (ISRO), an India-based national space agency, launched the Earth Observation Satellite-6 (EOS-6), the third-generation Indian satellite for monitoring the oceans.
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The Satellite-Based Earth Observation market is segmented -
•By Product Type: Earth Observation (EO) Data, Value Added Services
•By Satellite Orbit: Low Earth Orbit, Medium Earth Orbit, Geostationary Orbit
•By Technology: Optical, Synthetic Aperture Radar
•By Payload Type: Satellite Communications (SATCOM), Electro-Optical Or Infra-Red (EO Or IR), Communication, Imaging, Navigation
•By End-User: Defense And Intelligence, Infrastructure And Engineering, Agriculture, Energy And Power, Other End-Users
•By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Satellite-Based Earth Observation market.
The Business Research Company's "Global Satellite-Based Earth Observation Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Satellite-Based Earth Observation Market Include:
1. Executive Summary
2. Satellite-Based Earth Observation Market Characteristics
3. Satellite-Based Earth Observation Market Trends And Strategies
4. Satellite-Based Earth Observation Market - Macro Economic Scenario
5. Global Satellite-Based Earth Observation Market Drivers and Restraints
……
32. Global Satellite-Based Earth Observation Market Competitive Benchmarking
33. Global Satellite-Based Earth Observation Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Satellite-Based Earth Observation Market
35. Satellite-Based Earth Observation Market Future Outlook and Potential Analysis
36. Appendix
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