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Commercial Satellite Imaging Market

Market Insights on Commercial Satellite Imaging covering sales outlook, demand forecast & up-to-date key trends

Commercial Satellite Imaging Market By End Use, Application & Region - Forecast 2022 - 2032

Global Commercial Satellite Imaging Market Outlook (2022-2032)

[310 Pages Report] The global commercial satellite imaging market garnered US$ 5.2 Billion in 2021, and is likely to exhibit a Y-o-Y increase of 11.5% to be valued at US$ 5.8 Billion in 2022. Owing to the growing support from various governmental organizations, the market is likely to propel to US$ 12.4 Billion by 2032. The trade is projected at a 7.9% CAGR during the forecast period.

“Increasing concerns with respect to national security is likely to encourage various countries to strengthen their satellite imaging systems, which will benefit the market in the forecast period.”

Attributes

Details

Global Commercial Satellite Imaging Market CAGR (2022-2032)

7.9%

Global Commercial Satellite Imaging Market (2032)

US$ 12.4 Billion

Global Commercial Satellite Imaging Market Attraction

Increasing application of satellite data in the development of smart cities and connected vehicles is expected to drive the market in the forecast period.

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What Are The Factors Propelling The Global Commercial Satellite Imaging Market?

Growing Involvement of Government of Various Countries to Develop their Satellite Imaging System to Boost the Market

Owing to the growing significance of satellite imaging, several governmental organizations are taking initiatives to support its expansion. For instance, the Australian government invested US$ 260 Million for the development of satellite technology and the creation of job opportunities in Australia.

In another instance, BlackSky, a known geospatial intelligence company announced that it procured USD 50 Mn loan from the Intelsat satellite powerhouse, principally, to enhance its nascent earth observation.

Commercial Satellite Imaging Market Download Report Brochure

Also, increasing usage of satellite imagery for commercial purposes like defense, agriculture, and energy among others is likely to augment the market size in the forecast period.

Moreover, the growing demand for high resolution and modern satellite imagery in the field of national development administration, national defense organization, emergency services, and environmental protection has propelled the adoption of commercial satellite imaging significantly, thus, benefitting the industry.

What Are The Factors Hampering The Global Commercial Satellite Imaging Market?

The presence of stringent rules and regulations of various governments regarding the usage of satellites is expected to be the key factor hampering the market growth in the forecast period. Also, expenses associated with satellite imaging are likely to discourage the entrance of new players into the market, thereby, limiting the market growth.

Moreover, the availability of low-cost alternatives like aerial imaging services is further speculated to hinder the trade growth during the forecast period.

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What Are The Prevailing Opportunities In The Global Commercial Satellite Imaging Market?

As per the analysis, the military and defense sector is anticipated to hold remunerative opportunities for the global commercial satellite imaging market. Various developing countries are making significant developments in their defense and military budgets, thereby, offering lucrative opportunities to players in the market. For instance, as per SIPRI, in 2019, the military expenditure of the U.S was US$ 717 Billion.

Similarly, China spent about US$ 177 Billion in the same year. Owing to the rising insecurities regarding nations’ safety, countries are launching satellites to develop their defense operation with the help of modern technology. With the help of satellite imaging, decision-making is becoming more convenient.

Also, satellite imaging assists in precise mapping for search and rescue operations and mission planning. Therefore, with the rising concern for nations’ security, with increased defense expenditure, the market is likely to witness notable opportunities for expansion in the forecast period.

Comparative View Of Adjacent Commercial Satellite Imaging Market

Commercial Satellite Imaging Market:

Attributes

Commercial Satellite Imaging Market

CAGR (2022-2032)

7.9%

Market Value (2032)

US$ 12.4 Billion

Growth Factor

Increasing application of satellite data in the development of smart cities and connected vehicles is expected to drive the market in the forecast period.

Opportunity

Growing national security concerns among various countries are expected to offer significant opportunities to the market.

Global Satellite Market:

Attributes

Global Satellite Market

CAGR (2022-2032)

9.15%

Market Value (2032)

US$ 12 Billion

Growth Factor

Emergence of 5G service and integration of IoT in the manufacturing sector is expected to drive the market in the forecast period.

Opportunity

Integration of AI and the introduction of robotics are expected to give significant opportunities to the market in the assessment period.

Aerial Imaging Market:

Attributes

Aerial Imaging Market

CAGR (2022-2032)

9.6%

Market Value (2032)

US$ 10 Billion

Growth Factor

Increasing demand for aerial imagery service in disaster risk reduction and surged demand for various commercial applications in setting up 5G is expected to drive the market.

Opportunity

Modern developments such as advanced motion and temperature sensors in cameras, unmanned aerial vehicles, and 3D mapping are likely to offer various opportunities.

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What Is The Segmentation Analysis Of The Global Commercial Satellite Imaging Market?

Based on the end-use industry, the global commercial satellite imaging market can be segmented into government, commercial enterprise, civil engineering, military, forest, agriculture, energy sector, and insurance.

Based on application, the global commercial satellite imaging market can be segmented into energy, geospatial technology, natural resources management, construction and development, disaster response management, defense and intelligence, conservation and research, and media and entertainment.

As per the analysis, by end-use industry, the government segment is likely to dominate the market in the forecast period. The government segment is anticipated to expand at a CAGR of 8.1% during the forecast period. The growth of the segment can be attributed to the high image quality and precise information.

Also, details obtained from satellite imaging are assisting in driving programs to protect properties, save lives, and strengthen future economic stability within their geographical limits.

According to the observations, the defense & intelligence segment, by application, is projected to dominate the market during the forecast period. The segment is expected to grow at a 7.9% CAGR in the assessment period. The increasing threat of terrorism and attacks on infrastructure can be tracked with the help of geographical mapping.

Also, the earth observation satellites are gaining significant traction in the defense sector, especially when missions are carried out remotely. The defense sector also generated significant demand for satellite imaging for geospatial mapping. The segment is augmenting owing to the increasing security and surveillance applications.

What Is The Regional Analysis Of The Global Commercial Satellite Imaging Market?

North America is anticipated to lead the global commercial satellite market during the forecast period. The market is likely to garner US$ 3 Billion while exhibiting a CAGR of 7.2% from 2022 to 2032. The rapid development of the region can be attributed to the presence of modern infrastructure to undertake space programs.

And also, the highest adoption of commercial satellite imaging across several industries in the region is anticipated to propel the industry in the forecast period.

As per the Union of Concerned Scientists, the U.S has the highest number of satellites in orbit, followed by China with 299 satellites. Moreover, the U.S government is also revamping its existing commercial space regulations that have to be streamlined.

For instance, SpaceX launched an Earth-imaging satellite and its broadband demos that held a radar-imaging satellite for Spain’s Hisdesat Servicios Estrategicos SA. The satellite is expected to obtain details, comprising weather data, and ship tracking, for the government and commercial customers.

APAC is anticipated to be the fastest-growing region during the forecast period. China is likely to make the most significant contribution to developing the market. China is estimated at US$ 800 Million, expanding at a 7.7% CAGR during the forecast period.

The growth of the market can be attributed to the presence of evolving countries such as; India, China, Japan, and others. Also, increasing government involvement owing to rising national security concerns is anticipated to positively influence the market in the coming time.

For instance, in April 2022, China announced to develop a modern AI system that turns low-cost commercial satellites already orbiting the Earth into potent spy platforms. As per the reports, it is likely to have a success rate of nearly 7 times more than the existing technology. Also, as per the Union of Concerned Scientists, China is anticipated to have the second-highest number of satellites revolving after the U.S.

In addition, Japan has been recognized as another potent player of the region. According to the analysis, the country is anticipated at US$ 50 Million while recording a CAGR of 9.2% in the forecast period.

The development of the regional market can be credited to the rapid development in the concerned field. Brazil and Australia are estimated at US$ 90 Million and US$ 80 Million respectively. The growth rate of Japan is anticipated to be 9.5% while for Australia it is estimated at 7.7% from 2022-2032.

Country

Estimated CAGR

U.S

7.2%

Australia

7.7%

China

9.2%

Japan

8.4%

Brazil

9.5%

Who Are The Key Players Of The Global Commercial Satellite Imaging Market?

Eminent players of the global commercial satellite imaging market include Planet Labs, Inc., DigitalGlobe, Inc., Exelis, Inc., Trimble Navigation Limited, and Telespazio, among others.

Recent key developments among players include:

  • In February 2020, the Air Force Life Cycle Management Centre announced a strategic partnership with L3Harris Technologies to develop a software platform. The software is likely to make it convenient for analysts to use AI to locate objects in large data sets, thereby, addressing urgent defense requirements for automation to observe and analyze large geospatial data sets.
  • In July 2019, DigitalGlobe developed OpenStreetMap imagery endpoints. It will enable the users of OpenStreetMap to see uniformity in content between the previous and new layers. The imagery is anticipated to be more often updated by using the latest Maxar mosaic content. The enhanced production processes are likely to benefit OSM contributors.

Key Segments Covered In The Commercial Satellite Imaging Industry Survey

Commercial Satellite Imaging by End Use:

  • Commercial Satellite Imaging for Governments
  • Commercial Satellite Imaging for Commercial Enterprises
  • Commercial Satellite Imaging for Civil Engineering
  • Commercial Satellite Imaging for Military
  • Commercial Satellite Imaging for Forests
  • Commercial Satellite Imaging for Agriculture
  • Commercial Satellite Imaging for the Energy Sector
  • Commercial Satellite Imaging for Insurance

Commercial Satellite Imaging by Application:

  • Commercial Satellite Imaging in Energy Generation
  • Commercial Satellite Imaging in Geospatial Technology
  • Commercial Satellite Imaging in Natural Resources Management
  • Commercial Satellite Imaging in Construction and Development
  • Commercial Satellite Imaging in Disaster Response Management
  • Commercial Satellite Imaging in Defense and Intelligence
  • Commercial Satellite Imaging in Conservation and Research
  • Commercial Satellite Imaging in Media and Entertainment

Commercial Satellite Imaging by Geography:

  • North America Commercial Satellite Imaging Market
  • Europe Commercial Satellite Imaging Market
  • Asia-Pacific Commercial Satellite Imaging Market
  • Middle East & Africa Commercial Satellite Imaging Market
  • Latin America Commercial Satellite Imaging Market

Frequently Asked Questions

The global commercial satellite imaging market is likely to value US$ 5.2 Billion in 2021.

The global commercial satellite imaging market is estimated to grow at a CAGR of 7.9% from 2022 to 2032.

The global commercial satellite imaging market is predicted to procure USD 12.4 Billion from 2022 to 2032.

The government segment is projected to expand at an 8.1% CAGR during the forecast period.

The defense and intelligence segment is likely to exhibit a 7.9% CAGR from 2022-2032.

The U.S market is expected to garner US$ 3 Billion while expanding at a 7.2% CAGR from 2022 to 2032

Table of Content

1. Preface

    1.1. Research Scope

    1.2. Market Segmentation

    1.3. Research Methodology

2. Executive Summary

    2.1. Market Snapshot: Global Commercial Satellite Imaging Market, 2021 & 2032

    2.2. Global Commercial Satellite Imaging Market Revenue, 2013 – 2023 (US$ Mn) and Y-o-Y Growth (%)

3. Global Commercial Satellite Imaging Market Analysis

    3.1. Key Trends Analysis

    3.2. Market Dynamics

        3.2.1. Drivers

        3.2.2. Restraints

        3.2.3. Opportunities

    3.3. Value Chain Analysis

    3.4. Global Commercial Satellite Imaging Market Analysis, By End-use Industry

        3.4.1. Overview

        3.4.2. Government

        3.4.3. Commercial Enterprises

        3.4.4. Civil Engineering Industry

        3.4.5. Military

        3.4.6. Forest

        3.4.7. Agriculture

        3.4.8. Energy Sector

        3.4.9. Insurance

    3.5. Global Commercial Satellite Imaging Market Analysis, By Application

        3.5.1. Overview

        3.5.2. Energy

        3.5.3. Geospatial Technology

        3.5.4. Natural Resources Management

        3.5.5. Construction and Development

        3.5.6. Disaster Response Management

        3.5.7. Defense and Intelligence

        3.5.8. Conservation and Research

        3.5.9. Media and Entertainment

    3.6. Competitive Landscape

        3.6.1. Market Positioning of Key Players in Commercial Satellite Imaging Market (2021)

        3.6.2. Competitive Strategies Adopted by Leading Players

4. North America Commercial Satellite Imaging Market Analysis

    4.1. Overview

    4.2. Key Trends Analysis

    4.3. North America Commercial Satellite Imaging Market Analysis, by End-use Industry

        4.3.1. North America Commercial Satellite Imaging Market Share Analysis, by End-use Industry, 2021 & 2032 (%)

    4.4. North America Commercial Satellite Imaging Market Analysis, By Application

        4.4.1. North America Commercial Satellite Imaging Market Share Analysis, by Application, 2021 & 2032 (%)

    4.5. North America Commercial Satellite Imaging Market Analysis, by Region

        4.5.1. North America Commercial Satellite Imaging Market Share Analysis, by Region, 2021 & 2032 (%)

5. Europe Commercial Satellite Imaging Market Analysis

    5.1. Overview

    5.2. Key Trends Analysis

    5.3. Europe Commercial Satellite Imaging Market Analysis, by End-use Industry

        5.3.1. Europe Commercial Satellite Imaging Market Share Analysis, by End-use Industry, 2021 & 2032 (%)

    5.4. Europe Commercial Satellite Imaging Market Analysis, By Application

        5.4.1. Europe Commercial Satellite Imaging Market Share Analysis, by Application, 2021 & 2032 (%)

    5.5. Europe Commercial Satellite Imaging Market Analysis, by Region

        5.5.1. Europe Commercial Satellite Imaging Market Share Analysis, by Region, 2021 & 2032 (%)

6. Asia Pacific Commercial Satellite Imaging Market Analysis

    6.1. Overview

    6.2. Key Trends Analysis

    6.3. Asia Pacific Commercial Satellite Imaging Market Analysis, by End-use Industry

        6.3.1. Asia Pacific Commercial Satellite Imaging Market Share Analysis, by End-use Industry, 2021 & 2032 (%)

    6.4. Asia Pacific Commercial Satellite Imaging Market Analysis, By Application

        6.4.1. Asia Pacific Commercial Satellite Imaging Market Share Analysis, by Application, 2021 & 2032 (%)

    6.5. Asia Pacific Commercial Satellite Imaging Market Analysis, by Region

        6.5.1. Asia Pacific Commercial Satellite Imaging Market Share Analysis, by Region, 2021 & 2032 (%)

7. Middle East and Africa (MEA) Commercial Satellite Imaging Market Analysis

    7.1. Overview

    7.2. Key Trends Analysis

    7.3. MEA Commercial Satellite Imaging Market Analysis, by End-use Industry

        7.3.1. MEA Commercial Satellite Imaging Market Share Analysis, by End-use Industry, 2021 & 2032 (%)

    7.4. MEA Commercial Satellite Imaging Market Analysis, By Application

        7.4.1. MEA Commercial Satellite Imaging Market Share Analysis, by Application, 2021 & 2032 (%)

    7.5. MEA Commercial Satellite Imaging Market Analysis, by Region

        7.5.1. MEA Commercial Satellite Imaging Market Share Analysis, by Region, 2021 & 2032 (%)

8. Latin America Commercial Satellite Imaging Market Analysis

    8.1. Overview

    8.2. Key Trends Analysis

    8.3. Latin America Commercial Satellite Imaging Market Analysis, by End-use Industry

        8.3.1. Latin America Commercial Satellite Imaging Market Share Analysis, by End-use Industry, 2021 & 2032 (%)

    8.4. Latin America Commercial Satellite Imaging Market Analysis, By Application

        8.4.1. Latin America Commercial Satellite Imaging Market Share Analysis, by Application, 2021 & 2032 (%)

    8.5. Latin America Commercial Satellite Imaging Market Analysis, by Region

        8.5.1. Latin America Commercial Satellite Imaging Market Share Analysis, by Region, 2021 & 2032 (%)

9. Company Profiles

    9.1. DigitalGlobe, Inc.

    9.2. Galileo Group, Inc.

    9.3. Planet Labs, Inc.

    9.4. Spaceknow, Inc.

    9.5. Harris Corporation

    9.6. SkyLab Analytics

    9.7. Trimble Navigation Limited.

    9.8. Telespazio

    9.9. Blacksky Global

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List of Tables

TABLE 01: Global Commercial Satellite Imaging Market Analysis, By Application, 2013 – 2032 (US$ Mn)

TABLE 02: Global Commercial Satellite Imaging Market Analysis, By End-use Industry, 2013 – 2032 (US$ Mn)

TABLE 03: North America Commercial Satellite Imaging Market Analysis, By Application, 2013 – 2032 (US$ Mn)

TABLE 04: North America Commercial Satellite Imaging Market Analysis, By End-use Industry, 2013 – 2032 (US$ Mn)

TABLE 05: North America Commercial Satellite Imaging Market Analysis, By Region, 2013 – 2032 (US$ Mn)

TABLE 06: Europe Commercial Satellite Imaging Market Analysis, By Application, 2013 – 2032 (US$ Mn)

TABLE 07: Europe Commercial Satellite Imaging Market Analysis, By End-use Industry, 2013 – 2032 (US$ Mn)

TABLE 08: Europe Commercial Satellite Imaging Market Analysis, By Region, 2013 – 2032 (US$ Mn)

TABLE 09: Asia Pacific Commercial Satellite Imaging Market Analysis, By Application, 2013 – 2032 (US$ Mn)

TABLE 10: Asia Pacific Commercial Satellite Imaging Market Analysis, By End-use Industry, 2013 – 2032 (US$ Mn)

TABLE 11: Asia Pacific Commercial Satellite Imaging Market Analysis, By Region, 2013 – 2032 (US$ Mn)

TABLE 12: MEA Commercial Satellite Imaging Market Analysis, By Application, 2013 – 2032 (US$ Mn)

TABLE 13: MEA Commercial Satellite Imaging Market Analysis, By End-use Industry, 2013 – 2032 (US$ Mn)

TABLE 14: MEA Commercial Satellite Imaging Market Analysis, By Region, 2013 – 2032 (US$ Mn)

TABLE 15: Latin America Commercial Satellite Imaging Market Analysis, By Application, 2013 – 2032 (US$ Mn)

TABLE 16: Latin America Commercial Satellite Imaging Market Analysis, By End-use Industry, 2013 – 2032 (US$ Mn)

TABLE 17: Latin America Commercial Satellite Imaging Market Analysis, By Region, 2013 – 2032 (US$ Mn)

Sudip Saha
Principal Consultant
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List of Charts

Figure 01: Global Commercial Satellite Imaging Market Snapshot

Figure 02: Global Commercial Satellite Imaging Market Revenue, 2013 – 2032 (US$ Mn) and Year-on-Year Growth (%)

Figure 03: Global Space Economy, 2013-2032 (in billions)

Figure 04: Comparison of Types of Commercial Satellite Imaging

Figure 05: Value Chain Analysis – Global Commercial Satellite Imaging Market

Figure 06: Global Commercial Satellite Imaging Market, By Application, 2021 and 2032 (%)

Figure 07: Global Commercial Satellite Imaging Market Analysis, By End-use Industry, 2021 and 2032 (%)

Figure 08: Global Commercial Satellite Imaging Market: Market Positioning of Key Players, 2021

Figure 09: North America Commercial Satellite Imaging Market Revenue, 2013 – 2032 (US$ Mn) and CAGR (%)

Figure 10: North America Commercial Satellite Imaging Market Share Analysis, By Application, 2021 and 2032 (%)

Figure 11: North America Commercial Satellite Imaging Market Share Analysis, By End-use Industry, 2021 and 2032 (%)

Figure 12: North America Commercial Satellite Imaging Market Share Analysis, By Region, 2021 and 2032 (%)

Figure 13: Europe Commercial Satellite Imaging Market Revenue, 2013 – 2032 (US$ Mn) and CAGR (%)

Figure 14: Europe Commercial Satellite Imaging Market Share Analysis, By Application, 2021 and 2032 (%)

Figure 15: Europe Commercial Satellite Imaging Market Share Analysis, By End-use Industry, 2021 and 2032 (%)

Figure 16: Europe Commercial Satellite Imaging Market Share Analysis, By Region, 2021 and 2032 (%)

Figure 17: Asia Pacific Commercial Satellite Imaging Market Revenue, 2013 – 2032 (US$ Mn) and CAGR (%)

Figure 18: Asia Pacific Commercial Satellite Imaging Market Share Analysis, By Application, 2021 and 2032 (%)

Figure 19: Asia Pacific Commercial Satellite Imaging Market Share Analysis, By End-use Industry, 2021 and 2032 (%)

Figure 20: Asia Pacific Commercial Satellite Imaging Market Share Analysis, By Region, 2021 and 2032 (%)

Figure 21: MEA Commercial Satellite Imaging Market Revenue, 2013 – 2032 (US$ Mn) and CAGR (%)

Figure 22: MEA Commercial Satellite Imaging Market Share Analysis, By Application, 2021 and 2032 (%)

Figure 23: MEA Commercial Satellite Imaging Market Share Analysis, By End-use Industry, 2021 and 2032 (%)

Figure 24: MEA Commercial Satellite Imaging Market Share Analysis, By Region, 2021 and 2032 (%)

Figure 25: Latin America Commercial Satellite Imaging Market Revenue, 2013 – 2032 (US$ Mn) and CAGR (%)

Figure 26: Latin America Commercial Satellite Imaging Market Share Analysis, By Application, 2021 and 2032 (%)

Figure 27: Latin America Commercial Satellite Imaging Market Share Analysis, By End-use Industry, 2021 and 2032 (%)

Figure 28: Latin America Commercial Satellite Imaging Market Share Analysis, By Region, 2021 and 2032 (%)

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