$ 4.51 Billion growth expected in Satellite-Based Earth Observation Market | 14.29% YOY growth in 2020 amid COVID-19 Spread | APAC to Notice Maximum Growth | Technavio
NEW YORK, May 12, 2021 /PRNewswire/ --
The global satellite-based earth observation market by type (VAS, and data), application (defense, weather, LBS, energy, and other applications), and geography (APAC, Europe, MEA, North America, and South America) has been added to Technavio's offering. The global satellite-based earth observation market is expected to grow by USD 4.51 billion. However, the market growth momentum is expected to decelerate at a CAGR of over 13% during 2020-2024.
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A large number of EO satellites are expected to be placed into orbit during the forecast period. For instance, the UK has been focusing on maximizing the potential use and application of satellite-based EO for various purposes including economic development, meteorological monitoring and science applications, mass market and business applications, policy and operational decision making, and others. Similarly, Germany is carrying out several EO programs through the German Remote Sensing Data Center (DFD), an institute under the German Aerospace Center (DLR). Many such developments will have a positive impact on the growth of the market during the forecast period.
The market is expected to be driven by factors such as the growing demand for small satellites and the use of satellites for advanced environmental monitoring.
The report also offers information on the upcoming trends and challenges that will influence market growth.
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Satellite-Based Earth Observation Market: Opportunities
There is a growing need for replacing older satellites by launching EO satellites to gather high-resolution imagery. This need is driven by the increasing demand for imagery and data gathered from EO satellites from sectors such as defense, mining, oil and gas, and weather forecasting. Besides, many developing economies are making significant investments in the development and launch of indigenous satellites. All these factors are expected to open several growth opportunities for market players during the forecast period.
Satellite-Based Earth Observation Market: Segmentation by Type
Based on the segmentation by type, the market generated maximum revenue in the VAS segment in 2019. The segment is driven by the increasing demand for satellite-based EO VAS from applications such as city planning, weather forecasting, forestry mapping, and pollution monitoring. Also, the rise in the number of VAS startups is expected to foster the growth of the segment.
Satellite-Based Earth Observation Market: Segmentation by Geography
APAC held the largest market share in 2019 and the market growth in the region is expected to be slower compared to the growth of the market in MEA. The growth of the market in APAC can be attributed to the increased use of satellite-based for economic development and improving the quality of life, agriculture, and infrastructure in countries such as China and India. In addition, the entry of private players into the space industry in APAC is expected to contribute to the growth of the satellite-based earth observation market during the forecast period.
One of the fortune 500 companies had used the detailed research report on the satellite-based earth observation market and had decided to increase their market share in the APAC region which offers the highest market opportunities during the forecast period.
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Satellite-Based Earth Observation Market: Major Vendors
Airbus SE
The company is involved in imagery services and data expertise, in-orbit delivery, assembly, integration and testing, and assistance.
GeoOptics, Inc.
The company offers GeoOptics. It creates the highest quality radio occultation (RO) weather data for government, commercial, and research purposes.
ImageSat International NV
The company offers analytical and operational intelligence services such as end-to-end space-based imaging and analysis solutions. The company serves defense and intelligence customers in Israel.
L3Harris Technologies, Inc.
The company offers information technology services that produce C6ISR systems and products, wireless equipment, tactical radios, avionics and electronic systems, night vision equipment, and both terrestrial and spaceborne antennas for use in the government, defense, and commercial sectors.
Thales Group
The company offers flight deck systems, avionics equipment, and navigation solutions, as well as provides telecommunications satellites, signaling systems, and air traffic management, and maintenance services.
Along with the market data, Technavio offers customizations as per the specific needs of companies. The following customization options are available for the satellite-based earth observation market report:
Regional Analysis
- Further breakdown of the market segmentation at requested regions.
Market Player Information
- Detailed analysis and profiling of additional market players, vendor segmentation, and vendor offerings.
- Know the strategies adopted by vendors during the COVID-19 Recovery Phase.
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Related Reports on Satellite-based earth observation Market:
Global Low-Cost Satellite Market – Download our free sample report to learn about major trends impacting the growth of the market over the next five years.
Global Remote Sensing Satellite Market – Download our free sample report to learn about major trends impacting the growth of the market over the next five years.
Global Satellite Modem Market – Download our free sample report to learn about major trends impacting the growth of the market over the next five years.
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Global Satellite Phone Market – Download our free sample report to learn about major trends impacting the growth of the market over the next five years.
Executive Summary
- Market Overview
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five Forces Summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Application
- Market segments
- Comparison by Application placement
- Defense - Market size and forecast 2019-2024
- Weather - Market size and forecast 2019-2024
- LBS - Market size and forecast 2019-2024
- Energy - Market size and forecast 2019-2024
- Other applications - Market size and forecast 2019-2024
- Market opportunity by Application
Market Segmentation by Type
- Market segments
- Comparison by Type placement
- VAS - Market size and forecast 2019-2024
- Data - Market size and forecast 2019-2024
- Market opportunity by Type
Customer landscape
- Overview
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Volume driver - Demand led growth
- Volume driver - Supply led growth
- Volume driver - External factors
- Volume driver - Demand shift in adjacent markets
- Price driver - Inflation
- Price driver - Shift from lower to higher priced units
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Airbus SE
- GeoOptics, Inc.
- Hispasat
- ImageSat International NV
- L3Harris Technologies, Inc.
- Maxar Technologies Inc.
- Planets Labs Inc.
- PlanetiQ
- Thales Group
- UrtheCast Corp.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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Report: www.technavio.com/report/satellite-based-earth-observation-market-industry-analysis
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