Commercial Satellite Imaging Market Growth Analysis | 2024-2030

Market Insights

The commercial satellite imaging market was estimated at USD 3.9 billion in 2023 and is likely to grow at a staggering CAGR of 7.1% during 2024-2030 to reach USD 6.3 billion in 2030.

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Market Dynamics

Introduction

This study reveals that the global commercial satellite imaging market is poised for substantial growth in the coming years. Satellite imaging involves capturing raw image data using satellites equipped with optical sensors. While aeronautical imaging offers superior resolution due to proximity to ground targets and terrestrial imaging delivers high-quality, cost-effective resolutions, satellite imaging excels in providing worldwide coverage with the fastest data delivery.

Market Drivers

Key factors driving the growth of the market are:

• Satellites are preferred over other imaging solutions due to their global coverage and fast image data delivery.
• Affordability after launch leads to broader adoption and increased popularity of satellite imaging.
• The rising demand for satellite imaging in security applications and the growing penetration of broadband services drive market growth.
• Technological advancements and increased investments contribute to product innovation and differentiation.
• Traditional uses like surveillance and monitoring, along with civilian applications such as high-definition imagery, are expected to fuel future growth in North America.

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Recent Market JVs and Acquisitions:

Strategic Alliances including M&As, JVs, etc., have been performed over the past few years:

• September 2022: Planet announced plans to expand its data-gathering operations with the launch of the Tanager satellite line, designed to capture hyperspectral imagery, complementing its Dove and Pelican satellites.
• September 2022: BlackSky secured orders worth US$ 14 Mn to monitor critical global economic activities.
• August 2022: BlackSky Technology Inc. received a US$ 1.7 Mn contract from NASA to assess its imaging data services for the Commercial Smallsat Data Acquisition (CSDA) Program.
• May 2022: The National Reconnaissance Office (NRO) announced a multi-billion-dollar investment to acquire commercial satellite imagery, awarding EOCL contracts to Maxar, Planet, and BlackSky.

Segments Analysis

By Application Type

“Defense & intelligence is expected to maintain their market share due to increasing investments in the defense.”

• The application for the commercial satellite imaging market is segmented into energy, geospatial technology, natural resources management, construction & development, disaster response management, defense & intelligence, conservation & research, media & entertainment, and others.
• The Defense & Intelligence segment had the largest market share in 2022 and is growing with a steady CAGR.
• Construction & Development have unique applications; hence, growth is anticipated.

By End Use Type

“End-use segmentation in the commercial satellite imaging market is being led by the geospatial imaging segment, which is expected to sustain its share.”

• The end-use segment of the commercial satellite imaging market is segmented into geospatial imaging, enterprise, civil engineering, and others.
• The geospatial imaging segment is anticipated to lead the market, holding the largest share due to its pivotal role in the market.
• The Enterprise segment is anticipated to grow in the coming years.

Regional Insights

“The commercial sitellite Imaging market sector in North America will be the largest shareholder in the market and is expected to maintain its share in the coming years.”

• North America will maintain its presence in commercial satellite imaging due to its robust aerospace industry and technological innovation.
• The Asia-Pacific region’s Commercial Satellite Imaging Market is expected to grow significantly and faster than others.
• Europe's presence in this market can improve with innovations.

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Key Players

The market is highly fragmented with the presence of under 100 players across the region. Most of the major players compete in some of the governing factors, including price, service offerings, regional presence, etc. The following are the key players in the commercial satellite imaging market.

Here is the list of the Top Players (Based on Dominance)

• DigitalGlobe
• Spaceknow
• Harris Corporation
• Planet Labs
• BlackSky Global
• Galileo Group
• ImageSat International
• European Space Imaging
• UrtheCast
• Maxar

Note: The above list does not necessarily include all the top players in the market.

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Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s commercial satellite imaging market realities and future market possibilities for the forecast period of 2024 to 2030. After a continuous interest in our commercial satellite imaging market report from the industry stakeholders, we have tried to further accentuate our research scope to the commercial satellite imaging market to provide the most crystal-clear picture of the market. The report segments and analyses the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve.
• Attractive Market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market, covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The commercial satellite imaging market is segmented into the following categories.

By Application Type

• Energy
• Geospatial Technology
• Natural Resources Management
• Construction & Development
• Disaster Response Management
• Defense & Intelligence
• Conservation & Research
• Media & Entertainment
• Others

By End-Use Type

• Geospatial Imaging
• Enterprise
• Civil Engineering
• Others

By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)

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Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Service portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to Market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected]