Satellite-Based Earth Observation Industry to Achieve $9.33 Billion Growth by 2029

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How Will the Satellite-Based Earth Observation Market Grow by 2025 in Terms of Size and Growth?
The size of the earth observation market, which depends on satellite technology, has seen robust growth over recent years. The sector, which was valued at $6.55 billion in 2024, is projected to grow to $7.03 billion by 2025, experiencing a compound annual growth rate (CAGR) of 7.3%. This expansion in the previous time frame is, in part, thanks to government funding in space initiatives, the growing necessity for monitoring of the environment, advancements in agricultural and forestry applications, increasing necessity for disaster management tools, and broader defense and intelligence applications.

What Are the Estimated Growth Rates for the Satellite-Based Earth Observation Industry Through 2029?
A significant increase is anticipated in the market size of satellite-based earth observation, which is expected to reach $9.33 billion by 2029, with a compound annual growth rate (CAGR) of 7.4%. This surge in the prediction period is linked to rising demands for geospatial data analytics, escalating utilization of satellite-based services in commercial sectors, increasing climate change monitoring needs, expanding satellite constellations, and advancement in small satellites designed for earth observation. Emerging trends for the prediction period include the development of high-resolution imaging abilities, incorporation of AI and machine learning for data analysis, the usage of CubeSat technology, the creations of hyperspectral imaging satellites, and a heightened emphasis on sustainable and environmentally-friendly satellite technologies.

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What Are the Strategic Drivers Boosting Satellite-Based Earth Observation Market Performance?
The surge in satellite launches is anticipated to stimulate the expansion of the satellite-based earth observation market. A satellite is an apparatus deployed into orbit around the Earth or another cosmic body for a variety of functions, such as data gathering, navigation, and scientific investigation. These satellites come outfitted with sensors that observe and click pictures of the Earth's surface for assorted applications, like weather prediction and tracking environmental and climate shifts. For example, the United Nations Office for Outer Space Affairs reported in March 2023 that a US government agency disclosed that there had been an escalation in the count of entities launched into space; it went up from 1,810 in 2021 to 2,163 in 2022. Additionally, the Government Accountability Office, a nonpartisan and independent agency of the US government, indicated in September 2022 that as of spring of the same year, an estimation of 5,500 satellites were active in orbit and it was forecasted that another 58,000 would be put into orbit by 2030. Hence, the rise in satellite launches is encouraging the progress of the satellite-based earth observation market.

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What Are the Segments in the Satellite-Based Earth Observation Market?
The satellite-based earth observation market covered in this report is segmented -

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

Subsegments:
1) By Earth Observation (EO) Data: Optical Satellite Data, Radar Satellite Data, Hyperspectral Satellite Data, Thermal Infrared Satellite Data, LiDAR Data
2) By Value Added Services: Data Processing and Analysis, Geographic Information Systems (GIS) Services, Data Visualization Services, Consulting Services, Custom Application Development

What Are the Key Adoption Trends in the Satellite-Based Earth Observation Market?
Key technological progressions are becoming a growing trend in the satellite-based earth observation market. Predominant players in this market are striving to create advanced technical solutions to maintain their market stance. For example, in November 2022, the Indian Space Research Organization (ISRO), a national space agency based in India, inaugurated the Earth Observation Satellite-6 (EOS-6), a third-generation Indian satellite for sea surveillance. This satellite for the first time features three sea observation sensors: the Ku-Band scatterometer (SCAT-3), the Sea Surface Temperature Monitor (SSTM), and the Ocean Color Monitor (OCM-3). The advanced 13-channel OCM has the capacity of a 1400 km swath and 360 m spatial resolution, facilitating an uninterrupted gaze at the planet's surface. It furnishes important data on the distribution of ocean algae, crucial to the marine food chain. The OCM-3, noted for its high signal-to-noise ratio, is expected to deliver more accurate daily monitoring of phytoplankton, which carries diverse operational and research values, like managing fishery resources, ocean carbon absorption, warnings on hazardous algal bloom, and climatic researches.

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Which Companies Lead the Competitive Landscape of the Satellite-Based Earth Observation Industry?
Major companies operating in the satellite-based earth observation market include Raytheon Technologies Corporation, Lockheed Martin Corp., Airbus SE, BAE Systems Plc, Thales Group, L3Harris Technologies Inc., Israel Aerospace Industries Ltd., Viasat, Maxar Technologies Inc., MDA Corporation, Planet Labs Inc., Spire Global, BlackSky Global, Iceye, EOS Data Analytics, RS Metrics, D-Orbit, Descartes Labs, UrtheCast, Orbital Insight, GHGSat, Satellogic SA, GomSpace, SkyWatch Inc., Global Surface Intelligence Ltd., PlanetiQ Inc., GeoOptics Inc., ImageSat International N.V, Capella Space, HawkEye 360

Where Are the Key Satellite-Based Earth Observation Market Opportunities by Region?
North America was the largest region in the satellite-based earth observation market in 2024. The regions covered in the satellite-based earth observation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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