Commercial satellite imaging market to reach $4.7 billion by 2025, rising at a CAGR of 11.3%: Report

Increasing dependence on location-based services (LBS) is expected to drive the growth of the global market for commercial satellite imagery. This is linked to the fact that location-based services play a major role in the use of smart devices by providing real-time geographic data.

Commercial satellite imaging market to reach $4.7 billion by 2025, rising at a CAGR of 11.3%: Report
Commercial satellite imaging market to reach $4.7 billion by 2025, rising at a CAGR of 11.3%: Report

Commercial satellite imaging market to reach $4.7 billion by 2025, rising at a CAGR of 11.3%: Report

The global commercial satellite imaging market (2019-2025) report has been added to ResearchAndMarkets.com's offering. The global commercial satellite imaging market size is expected to reach $4.7 billion by 2025, rising at a market growth of 11.3% CAGR during the forecast period.

Increasing dependence on location-based services (LBS) is expected to drive the growth of the global market for commercial satellite imagery. This is linked to the fact that location-based services play a major role in the use of smart devices by providing real-time geographic data.

Satellite imaging works with the help of imagery satellites to capture images of the Earth or other planets. Using these images for commercial purposes is known as commercial satellite imaging that includes a variety of applications such as environmental monitoring & management, border area surveillance, energy resource security, and construction project mapping.

Commercial satellite imaging is useful across different sectors, including transportation, defense, construction, and others that acts as a key driver of the satellite imagery market.

Satellite imaging applications are navigation, mapping, GIS, geomarketing and advertising, emergency and security applications, business applications, sport, augmented reality/games, mHealth, tracking and social networking. All these applications are designed to meet the various requirements and conditions of use.

The surge in context-aware applications is predicted to further enhance market growth during the forecast period and the increasing number of devices shipments with location-based services.

Based on regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. North America has represented the largest market share of commercial satellite imaging on the world market, due to the increase in adoption by government and military authorities of satellite imaging services.

For purposes of map creation, military recognition, urban planning, disaster management, among others, Government and military organisations primarily use satellite images. In addition, the region's government is making major investments in promoting the introduction of commercial satellites to promote regional overall growth.

The major strategies followed by the market participants are product launches and partnerships & collaborations. Based on the analysis presented in the Cardinal matrix, Thales Group S.A., Airbus SE, Leonardo SpA, and L3 Harris Technologies, Inc. are some of the forerunners in the commercial satellite imaging market. The market research report covers the analysis of key stakeholders of the market.

Key companies profiled in the report include Spaceflight Industries, Inc., Galileo Group, Inc., ImageSat International N.V., Maxar Technologies, Inc., Planet Labs, Inc., UrtheCast Corporation, Airbus SE, Saab Group (Vricon, Inc.), Trimble, Inc., Leonardo SpA, Thales Group S.A. and L3Harris Technologies, Inc.

The market players are adopting progressive strategies to leverage the opportunities of the market. Companies are focusing on innovative strategies to compete in the market space. For instance, In June 2019, BlackSky, a subsidiary of Spaceflight (US) collaborated with HawkEye 360 which helps the BlackSky to make the use of signal-detection data offered by HawkEye 360's formation-flying satellite constellation in its own web-based analytical services. In July 2019, Maxar signed an agreement with Esri in order to deliver its Vivid and Metro satellite imagery mosaics to Esri for use in geospatial applications.

In July 2019, Airbus SE signed a contract with French Agency for delivering four Earth Observation sats in order to achieve the resolutions. In September 2019, Thales Alenia Space has launched new Space Inspire satellite product line (INstant SPace In-orbit REconfiguration) for allowing transition from video broadcasting to broadband connectivity services while maximizing the effectiveness & efficient use of the satellite resources.

Recent Strategies Deployed in the Commercial Satellite Imaging Market

Product Launches

  • Sep-2019: Thales Alenia Space has launched new Space Inspire satellite product line (INstant SPace In-orbit REconfiguration) for allowing transition from video broadcasting to broadband connectivity services while maximizing the effectiveness & efficient use of the satellite resources.
  • Aug-2019: Trimble has launched the Trimble T7 tablet for GIS data collection applications.
  • Jul-2019: Vricon, a subsidiary of Saab launched CitySuite, its newest 3D data product in order to fulfill the demand of geospatial market.
  • Jul-2019: Thales Alenia Space introduced Euclid satellite which can generate hundreds of thousands of images and several tens of petabytes of data.
  • Jun-2019: Trimble introduced V10 Imaging Rover for capturing 360-degree digital panoramic images for efficient visual documentation and measurement of the surrounding environment.

Collaborations, Partnerships & Agreements

  • Jul-2019: Maxar signed an agreement with Esri in order to deliver its Vivid and Metro satellite imagery mosaics to Esri for use in geospatial applications.
  • Jul-2019: Airbus signed a contract with French Agency for delivering four Earth Observation sats in order to achieve the resolutions.
  • Jul-2019: Vricon, a subsidiary of Saab collaborated with Spatial Networks and Cesium for helping the governments and industry clients in getting complete information of remote environments.
  • Jul-2019: Thales signed an agreement with Indonesia's Ministry of Communication and Information Technology in which Thales will design and manufacture the satellite named SATRIA for Indonesia.
  • Jun-2019: BlackSky, a subsidiary of Spaceflight collaborated with HawkEye 360 which helps the BlackSky to make the use of signal-detection data offered by HawkEye 360's formation-flying satellite constellation in its own web-based analytical services.
  • Jun-2019: Maxar signed a contract with U.S. Government in order to help the government in fulfilling their mission requirements.
  • Jun-2019: Planet Labs signed an agreement with Kayrros in order to provide it the access to subscription-based Earth observation imagery and data.
  • Jun-2019: Airbus collaborated with Surrey Satellite Technology Limited for using end-to-end imaging operations and for enhancement of Vision-1, SSTL S1-4 Satellites.
  • Apr-2019: ImageSat teamed up with Kleos Space in order to explore the opportunities for using the Kleos' maritime Radio Frequency (RF) activity-based satellite data which helps in increasing geospatial intelligence analytics.
  • Apr-2019: Leonardo signed an agreement with Petrobras for satellite monitoring which delivers 150 images per month from COSMO-SkyMed satellites constellation in order to detect the oil spills from production and exploration operations.
  • Feb-2019: Spaceflight signed Launch Services Agreement with Vector in order to launch the multiple satellites in space.