The global earth observation satellite market is expected to grow at a significant CAGR during the forecast period. The Earth observation satellite is designed for non-military applications such as climate monitoring and prediction, damage assessment during natural catastrophes, agricultural yield estimation, surface geology mapping, mineral resources, and water availability. It collects data on the chemical, physical, and biological components of the earth system from an altitude of 800 kilometres using remote sensing techniques. Using high-resolution cameras and advanced sensors, this approach allows for the measurement of global geology parameters from orbit.
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The development of global industries, research institutions, and application sectors has been assisted by large amounts of Earth observation data, which has had a significant impact on the study of the Earth system as it relates to human activities, environmental monitoring, and climate change, as well as providing an abundant data resource for the construction of a digital Earth. The growing need for data analytics to give the correct earth observation insights to many sectors based on their needs necessitates a significant volume of data. The majority of the organizations considered that the more data there was, the more accurate the insights might be created. Increasing Big Data must be generated to provide accurate insights into Earth Observation will drive the growth of the global earth observation satellite market.
In January 2020, Virgin Orbit and Image Sat International (ISI) signed an agreement to build an end-to-end responsive space service solution for national security customers. The collaborative turnkey service, which makes use of Virgin Orbit’s Launcher One system’s responsive and adaptable capabilities to rapidly deploy ISI’s high-resolution Earth observation small satellites, was presented during the 15th Ilan Ramon International Space Conference, held during Israel Space Week.
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Market Coverage
- Segment Covered-
o By Type
o By Application
- Competitive Landscape- Airbus Group, Lockheed Martin Corp, Thales Group, Raytheon Intelligence & Space, and Northrop Grumman Corporation, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Earth Observation Satellite Market by Segments
- By Type
- 500-600 Kilometres
- Above 600 Kilometres
- By Application
- Precision Agriculture, Forestry and Fisheries
- Weather Forecast
- Environmental Monitoring
- Financial Services
- Government and Defence
- Energy and Natural Resources
- Archaeological and Civil Infrastructure
- Mining
- Other
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