Commercial Satellite Imaging Market Outlook 2019-2026
Commercial Satellite Imaging Market by Application (Geospatial Data Acquisition & Mapping, Planning & Development, Disaster Management, Energy & Natural Resource Management, Surveillance & Security, Defense & Intelligence, and Others), and End User (Government, Military Defense, Forestry and Agriculture, Energy, Civil Engineering & Archaeology, Transportation & Logistics, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026.
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Commercial Satellite Imaging Market Outlook – 2026
The global commercial satellite imaging market was valued at $2,240.0 million in 2018, and is expected to reach $5,256.4 million by 2026, registering a CAGR of 11.2% from 2019 to 2026. Satellite imaging deals with capturing images of Earth or other planets with the assistance of imaging satellites. Utilizing these images for commercial purposes is knows as commercial satellite imaging, which includes various applications such as environment monitoring & management, security of energy resources, surveillance of border areas, and mapping of constructional projects. The images captured with the help of satellite are used in commercial applications such as. One of the key advantages of satellite imaging is faster image delivery, which provides comprehensive earth coverage, thus making commercial satellite imaging service a preferred choice over other imaging services.
The growth of the global commercial satellite imaging market is anticipated to be majorly driven by increase in dependence on location-based services (LBS). This is attributed to the fact that location-based services play an important role by providing real-time geographical data with the use of smart devices. In addition, commercial satellite imaging is applicable across various sectors, including defense, construction, transportation, and others, which acts as a key driver of the global commercial satellite imaging market.
Increase in security concerns and introduction of new technologies such as GPS satellites, advanced remote sensing technology, high-resolution cameras, light detection & ranging (LIDAR) technology, and electric propulsion technology further contribute toward the overall market growth. However, availability aerial imaging services, which provide similar facilities and high-resolution images as compared to commercial satellite imaging at relatively lower cost acts as a key growth restraint of the market. Growing defense budgets in most of the countries to develop security programs is further expected to contribute in the commercial satellite imaging market growth. On the contrary, considering the growing security concerns, several countries are launching satellites to strengthen their defense operation with the help of upgraded technology. Thus, commercial satellite imaging market opportunities likely to be fueled by upsurge in number of satellites launches in several countries.
The global commercial satellite imaging market is segmented into application, end use, and region. Depending on application, the market is categorized into geospatial data acquisition & mapping, urban planning & development, disaster management, energy & natural resource management, surveillance & security, defense & intelligence, and others. By end use, it is segregated into government, military defense, forestry & agriculture, energy, civil engineering & archaeology, transportation & logistics, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key players operating in the global commercial satellite imaging market include BlackSky Global LLC, European Space Imaging, Galileo Group, Inc., Harris Corporation, ImageSat International N.V., Maxar Technologies Inc., Planet Labs Inc., Planet Labs Inc., Telespazio France, UrtheCast Corp, and others.
Other players in the value chain of the market include Surrey Satellite Technology Ltd., Airbus Defence and Space, ADCC International East Africa Limited, Korea Space-image Technology, Ltd, Vricon, Inc., SpaceView Inc., and others. Key players are adopting numerous strategies such as product launch, acquisition, acquisition, collaboration, partnership, product development, agreement, and business expansion to stay competitive in the commercial satellite imaging market.
By application, the geospatial data acquisition & mapping accounted for the highest share in the market in 2018, owing to increase in application of geospatial data acquisition & mapping services utilize across archaeology, construction, government, military, mining, and civil engineering sectors. Some of the companies offering these services include Terraserver, and DigitalGlobe, Inc.
On the basis of end user, the defense sector was the major shareholder in this market in 2018, which uses commercial satellite imaging primarily for geospatial mapping. Increase in security concern has led the defense sector to become a prominent buyer of geospatial intelligence & mapping services. These services are used for surveillance, battlefront analysis, strategy formulation, and situation analysis on borders.
Region wise, North America accounted for largest commercial satellite imaging market share in the global market, due to surge in adoption of satellite imagery services among government and military agencies. Government and military organizations primarily use satellite images for the purpose of map creation, military reconnaissance, urban planning, disaster management, and others. Furthermore, the government in the region invests significantly to support the launch of commercial satellites, which supports the overall regional growth.
Key Benefits for Commercial Satellite Imaging Market:
- The report provides an in-depth commercial satellite imaging market analysis of the forecast along with the current and future market trends
- This report highlights the key drivers, opportunities, and restraints of the market along with the impact analysis during the forecast period
- The commercial satellite imaging market forecast is studied for a timeframe from 2019 to 2026
- Porter’s five forces analysis helps to analyze the potential of the buyers & suppliers and the competitive scenario of the commercial satellite imaging industry for strategy building
- A comprehensive analysis of the factors that drive and restrain the market growth is provided
- The qualitative data in this report includes commercial satellite imaging market trends, market dynamics, and developments
- The commercial satellite imaging market size is provided in terms of revenue
- An extensive analysis of various regions provides insights that are expected to allow companies to strategically plan their business moves
- The profiles of key players along with their key strategic developments are enlisted in the report
Commercial Satellite Imaging Market Segments:
- Geospatial Data Acquisition & Mapping
- Urban Planning & Development
- Disaster Management
- Energy & Natural Resource Management
- Surveillance & Security
- Defense & Intelligence
By End User
- Military Defense
- Forestry & Agriculture
- Civil Engineering & Archaeology
- Transportation & Logistics
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA