“The Commercial Satellite Imaging Market is expected to reach US$ 3.9 billion in 2023 and is likely to grow at a staggering CAGR of 7.1% in the long run to reach US$ 6.3 billion in 2030.”
Market Dynamics
Introduction
This study reveals that the global commercial satellite imaging market is poised for substantial growth in the coming years. Satellite imaging involves capturing raw image data using satellites equipped with optical sensors. While aeronautical imaging offers superior resolution due to proximity to ground targets and terrestrial imaging delivers high-quality, cost-effective resolutions, satellite imaging excels in providing worldwide coverage with the fastest data delivery.
The main drivers of market growth include:
- Satellites are preferred over other imaging solutions due to their global coverage and fast image data delivery.
- Affordability after launch leads to broader adoption and increased popularity of satellite imaging.
- The rising demand for satellite imaging in security applications and the growing penetration of broadband services drive market growth.
- Technological advancements and increased investments contribute to product innovation and differentiation.
- Traditional uses like surveillance and monitoring, along with civilian applications such as high-definition imagery, are expected to fuel future growth in North America.
Recent Market JVs and Acquisitions:
Strategic Alliances including M&As, JVs, etc. have been performed over the past few years:
- September 2022: Planet announced plans to expand its data-gathering operations with the launch of the Tanager satellite line, designed to capture hyperspectral imagery, complementing its Dove and Pelican satellites.
- September 2022: BlackSky secured orders worth US$ 14 Mn to monitor critical global economic activities.
- August 2022: BlackSky Technology Inc. received a US$ 1.7 Mn contract from NASA to assess its imaging data services for the Commercial Smallsat Data Acquisition (CSDA) Program.
- May 2022: The National Reconnaissance Office (NRO) announced a multi-billion-dollar investment to acquire commercial satellite imagery, awarding EOCL contracts to Maxar, Planet, and BlackSky.
Market Segments' Analysis
Segmentations
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List of Sub-Segments
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Segments with High Growth Opportunity
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Application-Analysis
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Energy, Geospatial Technology, Natural Resources Management, Construction & Development, Disaster Response Management, Defense & Intelligence, Conservation & Research, Media & Entertainment, and Others
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Defense & Intelligence will continue to uphold its position in the market.
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End-Use-Analysis
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Geospatial Imaging, Enterprise, Civil Engineering, and Others
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Geospatial imaging will remain the leading end-use application.
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Region-Analysis
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North America, Europe, Asia-Pacific, and The Rest of the World
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North America will hold the largest share globally in the Commercial Satellite Imaging Market.
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By Application
“Defense & intelligence is expected to maintain their market share due to increasing investments in the defense.”
- The Application for Commercial Satellite Imaging Market is segmented into Energy, Geospatial Technology, Natural Resources Management, Construction & Development, Disaster Response Management, Defense & Intelligence, Conservation & Research, Media & Entertainment, and Others.
- The Defense & Intelligence segment had the largest market share in 2022 and is growing with a steady CAGR.
- The Construction & Development have unique applications, hence growth is anticipated
By End User
“End-Use Segmentation in the Commercial Satellite Imaging Market is been led by Geospatial imaging segment which is expected to sustain its share.”
- The End-Use segment of the Commercial Satellite Imaging Market is segmented into Geospatial Imaging, Enterprise, Civil Engineering, and Others.
- The Geospatial Imaging segment is anticipated to lead the market, holding the largest share due to its pivotal role in the market.
- The Enterprise segment is anticipated to grow in the coming years.
Regional Analysis
“The Commercial Satellite Imaging Market sector in North America will be the largest shareholder in the market and is expected to maintain its share in the coming years.”
- North America will maintain its presence in Commercial Satellite Imaging due to its robust aerospace industry and technological innovation.
- The Asia-Pacific region’s Commercial Satellite Imaging Market is expected to grow significantly and faster than others.
- Europe's presence in this market can improve with innovations.
Key Players
The Market is highly fragmented with the presence of under 100 players across the region. Most of the major players compete in some of the governing factors including price, service offerings, regional presence, etc. The following are the key players in the Commercial Satellite Imaging Market.
Here is the list of the Top Players (Based on Dominance)
- DigitalGlobe
- Spaceknow
- Harris Corporation
- Planet Labs
- BlackSky Global
- Galileo Group
- ImageSat International
- European Space Imaging
- UrtheCast
- Maxar
Note: The above list does not necessarily include all the top players in the market.
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Report Features
This report provides Market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into Market dynamics and will enable strategic decision-making for existing Market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
- COVID-19 impact and its recovery curve.
- Attractive Market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
- Key success factors.
The global Commercial Satellite Imaging Market is segmented into the following categories.
Commercial Satellite Imaging Market, By Application
- Energy (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Geospatial Technology (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Natural Resources Management (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Construction & Development (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Disaster Response Management (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Defense & Intelligence (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Conservation & Research (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Media & Entertainment (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Commercial Satellite Imaging Market, by End-Use
- Geospatial Imaging (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Enterprise (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Civil Engineering (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Commercial Satellite Imaging Market, by Region
- North America (Country Analysis: The USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, The UK, Russia, and Rest of Europe)
- Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
- Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)
Research Methodology
- This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s Commercial Satellite Imaging Market realities and future market possibilities for the forecast period.
- The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market.
- The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the Market as well as to formulate growth strategies to expedite their growth process.
- This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
- More than 1,000 authenticated secondary end users, such as company annual reports, fact bos, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
- We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
- Detailed profiling of additional market players (up to three players)
- SWOT analysis of key players (up to three players)
Competitive Benchmarking
- Benchmarking of key players on the following parameters: Service portfolio, geographical reach, regional presence, and strategic alliances
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