Commercial Earth Observation (CEO) Market Size was valued at USD 4.5 Billion in 2022. The Commercial Earth Observation (CEO) market industry is projected to grow from USD 4.88 Billion in 2023 to USD 9.37 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.50% during the forecast period (2023 - 2032). The growing demand for real-time geospatial data for diverse applications such as agriculture, urban planning, and disaster management are the key market drivers fueling the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Market CAGR for commercial earth observation (CEO) is being driven by the escalating demand for real-time geospatial data across various industries. As businesses and governments strive to make informed decisions, the need for up-to-date and accurate information about the Earth's surface becomes paramount. Industries such as agriculture, urban planning, environmental monitoring, and disaster management rely on timely and precise geospatial data to enhance their operational efficiency and decision-making processes.
For instance, In agriculture, CEO services provide farmers with essential insights into crop health, soil conditions, and water usage. This data enables precision agriculture practices, optimizing resource allocation and improving overall crop yield. Urban planners utilize geospatial data to plan and design cities more effectively, considering factors such as population density, infrastructure development, and environmental impact. Furthermore, in disaster management, real-time imagery helps assess the extent of natural disasters, plan evacuation routes, and coordinate rescue operations swiftly.
Advancements in satellite technology play a pivotal role in driving the growth of the CEO market. The development of smaller, more capable satellites, such as CubeSats, has significantly reduced the costs associated with launching and maintaining Earth observation satellites. This has enabled a surge in the number of satellites in orbit, contributing to a more comprehensive and frequent coverage of the Earth's surface.
Additionally, the rise of private space companies has injected dynamism into the CEO market, fostering innovation, competition, and increased accessibility to space-based services. Traditionally dominated by government space agencies, the entry of private companies has led to a more diverse and competitive landscape. Companies like SpaceX, Planet Labs, and OneWeb are actively contributing to the proliferation of Earth observation satellites, launching constellations that provide global coverage and high revisit rates.
The World Economic Forum reports that the cost of launching satellites has decreased significantly, with the average cost per kilogram to low Earth orbit dropping by approximately 90% from 2010 to 2020, thanks to advancements in satellite miniaturization and launch technologies. As a result demand for Commercial Earth Observation (CEO) will increase due to the reduction in cost and technological advancement. Thus, driving the Commercial Earth Observation (CEO) market revenue.
Commercial Earth Observation (CEO) Application Insights
The Commercial Earth Observation (CEO) Market segmentation, based on Application includes Mapping & Surveying, Agriculture, Environmental Monitoring, Natural Resource Exploration, Security & Intelligence, and Others. The agriculture segment dominated the market, accounting for a quarter of market revenue. This is linked to the increasing adoption of precision agriculture practices globally.
Commercial Earth Observation (CEO) Components Insights
The Commercial Earth Observation (CEO) Market segmentation, based on Components includes Satellite, Software, and Services. The Satellite segment dominated the market, accounting for more than half of market revenue. They serve as the primary source of data acquisition, offering high-resolution imagery and comprehensive coverage for various applications.
Figure 1: Commercial Earth Observation (CEO) Market, by Components, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Commercial Earth Observation (CEO) Regional Insights
By region, the study provides market insights into North America, Europe, Asia-Pacific, and Rest of the World. The North American Commercial Earth Observation (CEO) market area will dominate this market due to the presence of established space agencies, private space companies, and a robust ecosystem supporting satellite technology. The United States, in particular, is home to major space players such as NASA and private companies like SpaceX. The region's advanced infrastructure, significant investments in space research and technology, and a thriving commercial space sector contribute to North America's leadership in Earth observation capabilities. Moreover, a high demand for geospatial data across various industries, including agriculture, defense, and technology, further propels the dominance of North America in the Commercial Earth Observation market.
Further, the major countries studied in the market report are The US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: COMMERCIAL EARTH OBSERVATION (CEO) MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Commercial Earth Observation (CEO) market accounts for the second-largest market share primarily driven by the European Space Agency (ESA) and the presence of leading satellite manufacturers and operators. ESA facilitates collaborative space initiatives among European countries, fostering innovation and research in Earth observation. European companies are at the forefront of developing advanced satellite technologies and providing satellite-based services. The continent's emphasis on environmental monitoring, climate research, and disaster management contributes to the strong demand for Earth observation services. Additionally, supportive government policies and international partnerships reinforce Europe's leadership in the global Earth observation market.. Further, the German Commercial Earth Observation (CEO) market held the largest market share, and the UK Commercial Earth Observation (CEO) market was the fastest-growing market in the European region
The Asia-Pacific Commercial Earth Observation (CEO) Market is expected to grow at the fastest CAGR from 2023 to 2032 due to the rapid growth of space programs, increasing investments in satellite technology, and the emergence of private space companies. Countries like China and India have made significant strides in space exploration, deploying Earth observation satellites for various applications, including agriculture, urban planning, and disaster response. Moreover, China’s Commercial Earth Observation (CEO) market held the largest market share, and the Indian Commercial Earth Observation (CEO) market was the fastest growing market in the Asia-Pacific region.
Leading market players are focusing on continuous technological innovation to enhance the capabilities of their Earth observation systems. This includes improving satellite imaging resolution, data analytics algorithms, and the development of advanced sensors. Market participants are also adopting a variety of strategic activities to expand their global footprint, with important market developments including new product launches, Customized Solutions for Verticals, contractual agreements, mergers and acquisitions, higher investments, and Data Analytics & Integration Services. To expand and survive in a more competitive and rising market climate, Commercial Earth Observation (CEO) industry must offer innovation solution.
Companies may pursue market diversification by expanding their offerings into new geographic regions or exploring untapped applications in the global Commercial Earth Observation (CEO) industry to benefit clients and increase the market sector. In recent years, the Commercial Earth Observation (CEO) industry has offered some of the most significant advantages to Consumers. Major players in the Commercial Earth Observation (CEO) market, including Airbus S.A.S., The Boeing Company, and Thales Group, and others, are attempting to increase market demand by investing in product development to increase their product line and cater to diverse consumer needs.
Airbus, a global aerospace leader, prioritizes sustainable innovation in aerospace, defense, and connected services. Renowned for cutting-edge solutions, it specializes in modern and fuel-efficient commercial aircraft, leading European defense and security, and prominent space endeavors. Airbus excels in providing efficient civil and military rotorcraft solutions in the helicopter sector. With revenues reaching €58.8 billion in 2022 and a workforce of approximately 134,000, Airbus is committed to sustainability, reflecting in its operations, which are guided by principles centered on respecting the planet, valuing people, and fostering prosperity. In September 2022, a collaboration unfolded between Airbus and the startup Exotrail as they jointly endeavored to integrate a novel mini electric-propulsion thruster onto Airbus' mid-size Earth observation satellites.
Boeing, a premier global aerospace enterprise, excels in the development, manufacturing, and servicing of commercial airplanes, defense products, and space systems, catering to a clientele spanning over 150 countries. As a prominent U.S. exporter, Boeing harnesses the expertise of a worldwide supplier network, driving economic prosperity, sustainability, and positive community impact. The company's diverse and dedicated team is committed to pioneering innovations for the future, prioritizing sustainability initiatives, and fostering a corporate culture rooted in core values of safety, quality, and integrity. Boeing stands as a key player at the forefront of the aerospace industry's evolution. In November 2023, India's space agency explored potential collaborations with Boeing Co., Jeff Bezos's Blue Origin, and Voyager Space Holdings Inc. This exploration occurred during an official visit by the head of NASA, signifying the growing level of cooperation between the United States and India in outer space activities.
March 2023: Satellogic collaborated with SkyFi, an Earth Observation (EO) data provider. Through SkyFi's application, individual users can control satellites using their devices to obtain specific location data. The partnership with Satellogic enables users of the SkyFi app to directly tap into Satellogic's constellation of thirty satellites.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 4.5 Billion |
| Market Size 2023 | USD 4.88 Billion |
| Market Size 2032 | USD 9.37 Billion |
| Compound Annual Growth Rate (CAGR) | 8.50% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Application, Components, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Airbus S.A.S., The Boeing Company, and Thales Group. |
| Key Market Opportunities | Private sector involvement has accelerated the pace of satellite deployment, driving down costs and expanding the availability of CEO data |
| Key Market Dynamics | Increasing demand for real-time geospatial data is driving the market growth |
Frequently Asked Questions (FAQ) :
The Commercial Earth Observation (CEO) Market size was valued at USD 4.5 Billion in 2022.
The global market is projected to grow at a CAGR of 8.50% during the forecast period, 2023-2032.
North America had the largest share in the global market
The key players in the market are Airbus S.A.S., The Boeing Company, and Thales Group.
The agriculture category dominated the market in 2022.
The satellite Stores had the largest share in the global market.
Team Lead - Research With a technical background as bachelor's in mechanical engineering, with mba in operations management , swapnil has 6+ years of experience in market research, consulting and analytics with the tasks of data mining, analysis, and project execution. he is the poc for our clients, for their consulting projects running under the automotive/a&d domain. swapnil has worked on major projects in verticals such as aerospace & defense, automotive and many other domain projects. he has worked on projects for fortune 500 companies' syndicate and consulting projects along with several government projects.
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