2024 Commercial Satellite Imaging Market Report : Market Size, Growth Drivers, And Key Trends | Airbus SE, L3Harris Technologies Inc., Trimble Navigation Limited, Maxar Technologies Inc

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The Business Research Company offers in-depth market insights through Commercial Satellite Imaging Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The commercial satellite imaging market size has grown rapidly in recent years. It will grow from $4.34 billion in 2023 to $4.83 billion in 2024 at a compound annual growth rate (CAGR) of 11.3%. The growth in the historic period can be attributed to defense and security applications, natural resource management, infrastructure development, disaster management, navigation and mapping.

The commercial satellite imaging market size is expected to see rapid growth in the next few years. It will grow to $7.33 billion in 2028 at a compound annual growth rate (CAGR) of 11.0%. The growth in the forecast period can be attributed to precision agriculture, climate monitoring, urban planning and smart cities, humanitarian aid and disaster relief, telecommunications infrastructure. Major trends in the forecast period include global demand for real-time imaging, integration of hyperspectral imaging, public-private partnerships for data sharing, enhanced data analytics platforms, focus on environmental monitoring and climate change.

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Market Segmentation:
The commercial satellite imaging market covered in this report is segmented -

1) By Technology: Optical, Radar
2) By Application: Geospatial Data Acquisition And Mapping, Natural Resource Management, Surveillance And Security, Conservation And Research, Disaster Management, Defense And Intelligence
3) By End User: Government, Military And Defense, Forestry And Agriculture, Energy, Civil Engineering And Archaeology, Transportation And Logistics, Other End Users

Major Driver - Role Of Commercial Satellite Imaging In Safeguarding National Security Against Cyber Threats
Increasing concerns with respect to national security are expected to propel the commercial satellite imaging market going forward. National security threats are any actions or events that pose a risk to the safety, stability and security of a nation or its citizens. These threats can originate from a variety of sources, including foreign governments, terrorist organizations, or cyber-attacks on government agencies. Satellite imaging data plays a complementary role in preventing cyber-attacks on government agencies by providing valuable information for network monitoring, geolocation, early warning, response, and mitigation efforts. For instance, in 2022, according to the Cyber Threat Report published by SonicWall, a US-based cyber security company, there was a significant increase in global ransomware incidents, with a rise of 105% in 2021 compared to the previous year. The number of ransomware attacks on government agencies saw a dramatic increase of 1,885%, which was more than twice the increase seen in healthcare (755%), education (152%) and retail (21%), combined, as well as substantial increase in crypto-jacking attempts on government customers, with a rise of 709% in 2021. Therefore, the increasing concerns with respect to national security are driving the commercial satellite imaging market.

Competitive Landscape:
Major companies operating in the commercial satellite imaging market report are Airbus SE, L3Harris Technologies Inc., Trimble Navigation Limited, Maxar Technologies Inc., DigitalGlobe Inc., Environmental Systems Research Institute Inc. (Esri), Telespazio Spa, MDA Ltd., Planet Labs PBC, Radiant Solutions Inc., Spire Global Inc., Capella Space Inc., BlackSky Global LLC, GHGSat Inc., ImageSat International N.V. (iSi), UrtheCast Corp., Orbital Insight Inc., Descartes Labs Inc., Tomorrow.io Inc., Satellogic S.L.U., SpaceKnow Inc., Kleos Space S.A., European Space Imaging (EUSI) GmbH, Galileo Group Inc., Skylab Analytics, Astrocast Satellite IoT Network, ICEYE Finland Oy, Satshots LLC, Predicio Analytics Inc., AGROVOCAT S.A.S., Soarview Technologies Inc.

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Top Trend - Strategic Partnership In The Commercial Satellite Imaging Market
Major companies operating in the commercial satellite imaging market are adopting a strategic partnership approach to enhance the use of satellite imagery. Strategic partnerships refer to a process in which companies leverage each other's strengths and resources to achieve mutual benefits and success. For instance, in April 2023, Axelspace, a Japan-based space startup that develops microsatellite technology, partnered with New Space Intelligence, a Japan-based provider of satellite imagery analysis services. As a result of this collaboration, the companies will jointly drive the increased utilization of satellite data. Emphasizing the development of novel applications and the extension of services to international markets will be central to our combined efforts. This strategic partnership significantly broadens Axelspace's presence in innovative satellite image applications.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Commercial Satellite Imaging Market Characteristics
3. Commercial Satellite Imaging Market Trends And Strategies
4. Commercial Satellite Imaging Market - Macro Economic Scenario
5. Commercial Satellite Imaging Market Size And Growth
…..
27. Commercial Satellite Imaging Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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