Commercial Satellite Imaging Market Size was valued at USD 2.8 billion in 2023. The Commercial Satellite Imaging market is projected to grow from USD 3.0184 Billion in 2024 to USD 5.11 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.80% during the forecast period (2024 - 2032). Increasing satellite imagery use in defence applications and industry players' development of new sensors and data sets are the key market drivers enhancing the commercial satellite imaging market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Leading satellite imaging companies invest more money in developing new sensors to collect more data sets from space, propelling the Commercial Satellite Imaging market's expansion. Long-term growth and future market penetration depend on the availability of fresh sensor data sets and proprietary data. As a result, the major Commercial Satellite Imaging market participants are providing fresh data sets. Combining fresh data sets will benefit current consumers and draw in new ones. Knowing which sensors enable extra data collection and which are beneficial to consumers could be available at every step. For instance, a start-up business named GalaxEye Space received USD 3.5 million from Special Invest in December 2022. With the help of this funding, GalaxEye will launch the first multi-sensor satellite in the Planet's history. Additionally, by utilizing the adaptable aerospace satellite imaging systems, new forms of higher-resolution data may be captured and delivered as fast as feasible. Thus, this factor is driving the Commercial Satellite Imaging market CAGR.
Increasing the use of satellite images for real-time data access in defense applications to boost Commercial Satellite Imaging sector expansion. In-depth knowledge of Automated Optical Inspection (AOI) and satellite imagery is now both beneficial and necessary in today's asymmetric warfare. Digital Elevation representations (DEMs) and 3D representations of rural and urban regions may be quickly and accurately created thanks to Airbus' Pleiades Neo military satellite. Taking high-resolution pictures also aids in determining whether a target is stationary or moving. Additionally, Very High Resolution (VHR) offers pinpoint accuracy in recognizing, identifying, and detecting targets or assets.
Additionally, satellite photography provides the military with precise topography data that they may use to plan their missions and fully comprehend the scenario. For instance, the Indian Armed Forces used satellite photos in December 2022 to monitor the India-China border near Arunachal Pradesh. The Indian Army discovered Chinese military activity close to the Line of Actual Control (LAC) near Tawang during this observation. Poland also bought two observation satellites from Airbus in December 2022 to improve its capacity for military surveillance. Thus, this aspect is anticipated to accelerate Commercial Satellite Imaging market revenue globally.
Commercial Satellite Imaging Application Insights
Based on Application, the Commercial Satellite Imaging Market segmentation includes Geospatial Data Acquisition Mapping, Defense & Intelligence, Energy, Surveillance & Security, and Disaster Management. The geospatial data acquisition mapping segment dominated the market, accounting for 35% of market revenue. The application segment with the largest Commercial Satellite Imaging market share is geospatial data collection. Many satellite and geospatial pictures evaluate economic issues like urbanization, environmental effect, infrastructure, and agricultural methods. Governments and corporate sector organizations are also spending more on satellite imaging to collect information on natural resources and urban development.
Commercial Satellite Imaging End-User Insights
Based on End-User, the Commercial Satellite Imaging Market segmentation includes Commercial and Defense. The commercial category generated the most income (70.4%). Among end users, the commercial category holds the biggest market share. The Commercial Satellite Imaging market is expanding as a result of the growing usage of commercial satellite imagery to capture images of the Earth and use those photos for various business reasons. Rising applications in urban planning, mapping, disaster management, and natural resource management observations and monitoring further support market expansion. The segment growth is boosted throughout the projected period by the increased use of navigation and geospatial mapping services based on real-time geo-data and precise position information.
Figure 1: Commercial Satellite Imaging Market by End-User, 2022 & 2032 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Commercial Satellite Imaging Type Insights
The Commercial Satellite Imaging Market data has been bifurcated by Type into Small, Middle, and Large. The Small segment dominated the Commercial Satellite Imaging market in 2022. CubeSat-built miniature satellites conserve a lot of resources. The popularity of small satellites has increased significantly since they were first developed as a consequence of the reduction of barriers to entering and exploring space. Depending on the objectives, a tiny satellite may also be manufactured and sent into orbit for less money than a regular satellite mission.
Commercial Satellite Imaging Regional Insights
By Region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North American Commercial Satellite Imaging market accounted for USD 1.19 billion in 2022 and is expected to exhibit a significant CAGR growth during the study period. The greatest market share for satellite imaging is held by North America, which is anticipated to increase throughout the predicted period. There are significant, industry-leading businesses in this area. Rapid regional development can be credited with making it possible to carry out space programs with contemporary infrastructure. The extensive use of commercial satellite pictures in the area is another factor expected to contribute to the industry's growth throughout the projected period. Additionally, the presence of the most notable significant essential players also contributes.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the U.K., Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: COMMERCIAL SATELLITE IMAGING MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Commercial Satellite Imaging will likely provide the substantial potential for the commercial sector due to the rising end-use applications of satellite images. Additionally, several nations, including Germany, France, Russia, Spain, and the U.K., are anticipated to support the expansion of the European market in the years to come. Further, the Germany Commercial Satellite Imaging market held the largest market share, and the U.K. Commercial Satellite Imaging market was the fastest-growing market in the European Region.
Asia Pacific Commercial Satellite Imaging is predicted to grow moderately throughout the projection period. The existence of countries like Japan, Australia, India, and others that have made significant satellite investments is credited with the Commercial Satellite Imaging market's expansion. The market's growth is most likely to be heavily influenced by China. Government participation in national security matters is also anticipated to affect the industry favorably. Moreover, the China Commercial Satellite Imaging market held the largest market share, and the India Commercial Satellite Imaging market was the fastest-growing market in the Asia-Pacific region.
Leading industry companies are making significant R&D investments to broaden their product offerings, which will spur further expansion of the market for Commercial Satellite Imaging products. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants also engage in several strategic actions to increase their worldwide presence. The Commercial Satellite Imaging industry must offer products at reasonable prices to grow and thrive in a more cutthroat and competitive environment.
One of the primary business strategies manufacturers employ in the worldwide Commercial Satellite Imaging industry to benefit customers and expand the market sector is local manufacturing to reduce operating costs. The Commercial Satellite Imaging industry has recently provided some of medicine's most important benefits. Major players in the Commercial Satellite Imaging market, including UrtheCast (Canada), European Space Imaging (Germany), Blacksky (U.S.), Exelis Inc. (U.S.), Planet Labs, Inc. (U.S.), Harris Corporation (U.S.), Airbus (France), SpaceKnow (U.S.), Galileo Group Inc. (U.S.), DigitalGlobe (US., and others, are attempting to increase market demand by investing in research and development operations.
A leading supplier of real-time geospatial intelligence is BlackSky. BlackSky provides high-frequency photography, monitoring, and analytics of the most important and strategically important places, resources, and events on Earth on demand. BlackSky Technology Inc. received its first call order from NASA in August 2022 for US$ 1.7 Mn to assess the company's image data services' usability, accuracy, and quality for the Commercial Smallsat Data Acquisition (CSDA) Programme.
A public American Earth imaging corporation with headquarters in San Francisco, California, is called Planet Labs PBC. They want to photograph the whole Earth daily to track changes and identify patterns. Planet announced plans to introduce a second line of image satellite data services to increase data collection efforts in September 2022. In keeping with its current Dove and Pelican satellite product lines, the corporation gave the new satellites the bird family name Tanager. The Tanager satellites are anticipated to record "hyperspectral" imaging, which separates the light spectrum into hundreds of bands of light, in contrast to those satellites, which have cameras and sensors collecting images in the same range as the human eye.
Commercial Satellite Imaging Industry Developments
Commercial Satellite Imaging Application Outlook
Commercial Satellite Imaging End-User Outlook
Commercial Satellite Imaging Type Outlook
Commercial Satellite Imaging Regional Outlook
North America
Europe
Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 28 billion |
| Market Size 2024 | USD 3.0184 billion |
| Market Size 2032 | USD 5.11 billion |
| Compound Annual Growth Rate (CAGR) | 6.80% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2019- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application, End-User, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, the U.K., Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Â UrtheCast (Canada), European Space Imaging (Germany), Blacksky (U.S.), Exelis Inc. (U.S.), Planet Labs, Inc. (U.S.), Harris Corporation (U.S.), Airbus (France), SpaceKnow (U.S.), Galileo Group Inc. (U.S.), DigitalGlobe (U.S.). |
| Key Market Opportunities | Most countries are increasing their defense and military budgets due to the diverse need for developing security programs. |
| Key Market Dynamics | Most countries are increasing their defense and military budgets due to the diverse need for developing security programs. |
Commercial Satellite Imaging Market Highlights:
Frequently Asked Questions (FAQ) :
The Commercial Satellite Imaging Market size was valued at USD 2.8 Billion in 2023.
The Commercial Satellite Imaging Market is projected to grow at a CAGR of 6.80% during the forecast period, 2024-2032.
North America had the largest share in the Commercial Satellite Imaging Market.
The key players in the Commercial Satellite Imaging market are UrtheCast (Canada), European Space Imaging (Germany), Blacksky (U.S.), Exelis Inc. (U.S.), Planet Labs, Inc. (U.S.), Harris Corporation (U.S.), Airbus (France), SpaceKnow (U.S.), Galileo Group Inc. (U.S.), DigitalGlobe (U.S.).
The geospatial data acquisition mapping category dominated the market in 2022.
The Commercial had the largest share in the Commercial Satellite Imaging Market.
Senior Research Analyst She has over 5 years of rich experience, in market research and consulting providing valuable market insights to client. hands on expertise in management consulting, and extensive knowledge in domain including ict, automotive & transportation and aerospace & defense. she is skilled in go-to market strategy, industry analysis, market sizing, in depth company profiling, competitive intelligence & benchmarking and value chain amongst others.
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