The latest research study “Satellite-based Earth Observation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global satellite-based earth observation market reached a value of US$ 3.08 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 4.53 Billion by 2027, exhibiting a CAGR of 6.40% during 2022-2027.

Satellite-based earth observation usually involves gathering vital information pertaining to the chemical, physical, and biological systems of the earth using surveying techniques and remote sensing technologies. The data is used for predicting weather changes, disasters, climate patterns, natural calamities, oil and mineral deposits, the availability of water resources, etc. Presently, various organizations across the countries are relying on satellite-based earth observation systems to gain valuable as well as accurate insights for data analytics.

Covid-19 Impact:

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report. The industry is segmented by size and region. The report provides an analysis of the key trends in each sub-segment of the market, along with forecasts at the global and regional level from 2022-2027. The report also includes competitive landscape of major key players in the industry along with emerging trends in the market.

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Global Satellite-based Earth Observation Market Trends and Drivers: 

The widespread adoption of smart and precision farming practices, on account of the declining arable land and the rising consumer concerns towards food security, is primarily driving the satellite-based earth observation market. Additionally, the growing utilization of high-accuracy datasets in defense and intelligence for airfield monitoring, critical infrastructure protection, land surveillance activities, crime mapping, etc., is further catalyzing the market growth. Besides this, the inflating need for satellite-based earth observation for the sustainable management of protected forest areas is acting as another significant growth-inducing factor. Moreover, the emerging trend of automated self-driving vehicles is augmenting the use of satellite-based earth observation systems in cars for navigation and several other applications, which is positively influencing the global market. Apart from this, numerous advancements in space-based technologies for supporting and increasing the safety and efficiency of international civilian air traffic are anticipated to the satellite-based earth observation market over the forecasted period.

Report Segmentation:

The report has been segmented the market into following categories:

Breakup by Solution:

• Data
• Value Added Services

Breakup by End User:

• Defense and Intelligence
• Infrastructure and Engineering
• Agriculture
• Energy and Power
• Others

Breakup by Region:

• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

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List of Major Key Players:

The major players in the market are Airbus SE (OTCMKTS: EADSY), BAE Systems plc (OTCMKTS: BAESY), GeoOptics Inc., ImageSat International N.V., L3Harris Technologies Inc., Lockheed Martin Corporation (NYSE: LMT), Maxar Technologies Inc., Northrop Grumman Corporation, OHB System AG (OHB SE), Planet Labs PBC, Raytheon Technologies Corporation and Thales Group.

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