Commercial Satellite Imaging Industry Set to Achieve $7.68 Billion Milestone by 2029 | Steady 10.2% CAGR

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What Is the Long-Term Growth Forecast for the Commercial Satellite Imaging Market Size 2025?
The industry of commercial satellite imaging has seen a swift expansion in its market size over the past few years. It is projected to enhance from a valuation of $4.73 billion in 2024 to $5.21 billion in 2025, revealing a compound annual growth rate (CAGR) of 10.1%. The historical phase's growth can be traced back to various factors including defense and security applications, the management of natural resources, infrastructural development, disaster management as well as navigation and mapping.

What CAGR is Forecasted for the Commercial Satellite Imaging Market Through 2029?
The business satellite imaging market is anticipated to experience a swift escalation in its size in the forthcoming years. The market is expected to reach $7.68 billion by 2029, with a compound annual growth rate (CAGR) of 10.2%. This growth during the prediction period is primarily due to precision farming, climate observation, urban layout and intelligent cities, humanitarian assistance and catastrophe response, and telecommunications infrastructure. In the prediction period, significant tendencies include an international call for instantaneous imaging, incorporating hyperspectral imaging, collaborations between the public and private sector for data interchange, improved data analysis platforms, and a focus on environmental surveillance and climate change.

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What Are the Critical Factors Driving Commercial Satellite Imaging Market Development?
The expected growth in the commercial satellite imaging market is due to escalating worries about national security. Actions or occurrences that may endanger a nation or its people's peace, stability, and safety are considered national security threats. These threats can come from a multitude of sources, such as foreign nations, terrorist groups, or cyber-attacks on government entities. Satellite imaging data aid in threating off cyber attacks on government bodies by offering crucial information for network monitoring, geolocation, early warning, response and relief activities. For example, the 2023 ASD Cyber Threat Report by the Australian Signals Directorate, a federal agency based in Australia, reported that ReportCyber received nearly 94,000 cybercrime reports in the 2022-23 fiscal year. This represents a 23% increase from the previous fiscal year. As a result, heightened national security concerns are fuelling the expansion of the commercial satellite imaging market.

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How Does the Commercial Satellite Imaging Market Break Down Across Major Segments?
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

Subsegments:
1) By Optical: High-Resolution Optical Imaging, Multispectral Imaging, Hyperspectral Imaging
2) By Radar: Synthetic Aperture Radar (SAR), Interferometric Synthetic Aperture Radar (InSAR), Ground Penetrating Radar (GPR)

What Are the Major Trends Transforming the Commercial Satellite Imaging Industry?
Leading businesses in the commercial satellite imaging market are introducing unique products such as hyperspectral satellites to broaden their clientele, boost sales, and elevate revenue. Hyperspectral satellites fall under the category of earth observation satellites, equipped with sensors that can record a broad spectrum of electromagnetic wavelengths, even beyond what is visible. For example, in April 2022, Pixxel, a company based in India that manufactures hyperspectral earth imaging satellites, introduced the Shakuntala commercial satellite. The premiere satellite from Pixxel, 'shakuntala,' uniquely houses one of the most high-resolution hyperspectral commercial cameras ever sent into space. This impressive feature supports Pixxel's mission to create a constant health monitoring system for Earth. Shakuntala (TD-2), weighing less than 15 kg, possesses the potential to capture orbital images in more than 150 bands of color, covering the visible and infrared spectrums, at a notable resolution of 10 meters per pixel.

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Which Players Are Driving Innovation in the Commercial Satellite Imaging Market?
Major companies operating in the commercial satellite imaging market include Airbus SE, L3Harris Technologies Inc., Maxar Technologies Inc., DigitalGlobe Inc., 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., Satellogic S.L.U., SpaceKnow Inc., Kleos Space S.A., European Space Imaging (EUSI) GmbH, Galileo Group Inc., Skylab Analytics, ICEYE Finland Oy, Satshots LLC, Predicio Analytics Inc.

Which Regions Are Driving Global Commercial Satellite Imaging Market Expansion?
North America was the largest region in the commercial satellite imaging market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global commercial satellite imaging market report during the forecast period. The regions covered in the commercial satellite imaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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This release was published on openPR.