The research study conducted by Report Ocean on the “Satellite-Based Earth Observation Market ” spans over 100+ pages and delves into various facets of this market. It analyses the business strategies adopted by emerging industry players, examines the geographical scope, dissects market segments, evaluates the product landscape, and investigates price and cost structures. This research report facilitates market segmentation based on the latest Market trends, geographical market, and technological advancements. Each section of the report is meticulously prepared to scrutinize key aspects of the market. Moreover, it includes a detailed analysis of current applications, comparing them while focusing on opportunities, threats, and conducting a competitive analysis of major companies.
Satellite-Based Earth Observation Market is valued at approximately USD 6.11 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 7.2% over the forecast period 2023-2030. Satellite-based Earth observation refers to the use of satellites to gather information about the Earth’s surface, atmosphere, and other environmental parameters from space. These satellites are equipped with various sensors and instruments that collect data about the planet’s land, oceans, atmosphere, and weather patterns. The data collected is then used for a wide range of applications, including environmental monitoring, natural resource management, climate studies, disaster management, urban planning, agriculture, and many others. The Satellite-Based Earth Observation market is expanding because of factors such as increasing number of space research missions and growing number of orbital satellites.
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According to Statista, around 150 Low Earth Orbit space exploration missions are planned between 2020 and 2030. During the same time frame, 11 more Mars explorations are planned. Furthermore, in 2022, global government spending on space programmes reached around USD 103 billion . In 2022, the US government spent about USD 62 billion on space programmes, making it the country with the greatest space expenditure in the world. The United States was followed by China, which spent over USD 12 billion on space programmes. Another important component driving space increase is number of orbital satellites. As per Statista, in 2022, the United States had 3,433 functioning artificial satellites circling the Earth as with China accounting for approximately 541. In addition, the Indian Space Research Organisation had 10 space missions in fiscal year 2022, two of which belongs to earth observation satellites. Also, technological advancements in observatory Satellites and rising government initiatives in space research programs would create a lucrative growth prospectus for the market over the forecast period. However, lack of technical expertise in operating Satellite-Based Earth Observation stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Satellite-Based Earth Observation Market study include: Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the presence of key market players among space research organizations in the region. Furthermore, Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as rising active participation of government organizations for satellite research in the region.
Major market players included in this report are:
Airbus S.A.S
Boeing Defense
Israel Aerospace Industries Ltd
Lockheed Martin Corporation
Mitsubishi Electric Corporation
L3harris Technologies, Inc
SkyWatch Space Applications Inc
Raytheon Technologies Corporation
STMicroelectronics N.V
Thales Group
Recent Developments in the Market:
In March 2023, Thales Alenia Space, a joint venture between Thales (67%) and Leonardo (33%), has been awarded contracts from the European Space Agency (ESA) to supply a first batch of six small satellites with synthetic aperture radars (SAR) and one optical satellite for the Italian Earth observation agency, IRIDE. Based on a variety of sensing equipment and technologies, this unique new constellation will range from microwave radar imaging to optical sensors at diverse spatial resolutions and frequency ranges, becoming a pioneering space programme in Earth Observation.
Global Satellite-Based Earth Observation Market Report Scope:
Historical Data: 2020 – 2021
Base Year for Estimation: 2022
Forecast period: 2023-2030
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Product Type , Satellite Orbit, End-use, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Customization Scope: Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Product Type
EO Data
Value-Added Services
By Satellite Orbit
Low Earth Orbit
Medium Earth Orbit
Geostationary orbit
By End-use
Defense
Urban Development and Cultural Heritage
Agriculture
Climate Services
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa
Key Questions Answered in the Market Report:
• How did the COVID-19 pandemic have an impact on the adoption of via a range of pharmaceutical and existence sciences companies?
• What is the outlook for the affect market all through the forecast length 2023-2032?
• What are the key developments influencing the have an impact on market? How will they have an impact on the market in short-, mid-, and long-term duration?
• What is the give up person appreciation toward?
• What are the key elements impacting the have an effect on market? What will be there have an impact on in short-, mid-, and long-term duration?
• What are the key possibilities areas in the influence market? What is their workable in short-, mid-, and long-term duration?
• What are the key techniques adopted via groups in the have an effect on market?
• What are the key utility areas of the influence market? Which utility is predicted to keep the very best increase attainable all through the forecast duration 2023-2033?
• What is the favoured deployment mannequin for the impact? What is the boom conceivable of quite a number deployment fashions existing in the market?
• Who are the key cease customers of pharmaceutical quality? What is their respective share in the affect market?
• Which regional market is predicted to maintain the easiest boom possible in the have an impact on market at some stage in the forecast length 2023-2032?
• Which are the key gamers in the have an impact on market?
Growth Hampering Factors in the Market:
- Environmental regulations: Stricter environmental regulations on the production and use of fossil fuels can limit the availability and use of traditional market.
- Safety concerns: Safety concerns regarding the storage and transportation of can limit their use.
- Supply chain disruptions: Disruptions in the global supply chain due to natural disasters, pandemics, or other factors can impact the availability and cost of market.
- Security concerns: Security concerns regarding the transportation and storage of market can limit their use and availability.
- Technological obsolescence: Advances in technology can make existing systems obsolete, leading to reduced demand.
- Competition from alternative fuels: The development of alternative fuels such as biofuels and hydrogen-based fuels can compete with traditional market.
- Volatility in oil prices: Fluctuations in oil prices can affect the cost of market, making it difficult for industry players to predict and plan for costs.
- Economic downturns: Economic downturns can result in reduced demand for air travel and air cargo transportation, leading to a reduction in demand for market.
- Geopolitical tensions: Political instability and tensions between nations can impact the global supply chain for market, leading to supply disruptions and price fluctuations.
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