The Global Satellite-Based Earth Observation Market is expected to grow at a CAGR of 13.69% over the forecast period, owing to the mounting demand for earth surveillance and satellite-based broadband facilities along with development of satellite miniaturization technology. The factors such as remote sensing, catastrophe management, military surveillance, satellite communications, and facilities related to the academics, drives the market growth globally.
Increasing demand for small satellite networks is expected to favor market growth over the forecast period as well. Globally, the market is predicted to generate massive revenue over next seven years, providing numerous opportunities for market players to invest for research and development in the satellite-based earth observation market. Increasing demand for sophisticated industry-specific analytical solutions that can help obtain actionable insights from the data captured by small satellites is expected to fuel the market. However, the affordability of satellite-based earth observation system and security concerns are acting as key challenges for the market growth in the last few years.
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Small satellites also termed as small sats, consists of low mass and small size, normally weighs less than 500 kg or 1,100 lb. These miniaturized satellites are categorized based on their mass such as small satellites, micro satellites, nanosatellites, picosatellites and femto-satellite. Small satellites are designed such that the reduction in cost during the launch and lower construction cost are achieved.
The launching cost of large satellites is significantly higher compared to the multiple launch cost of miniature satellites. Rather than using large satellite, multiple small satellites are used to collect data such as scientific information and radio relay, as multiple satellite serves the same purpose as single large satellite. The design difficulties occur during construction of small satellites such as insufficient power storage space and unavailability of space for propulsion system.
The market is broadly categorized into seven major segments based on the end-user application type such as defense and intelligence sector, infrastructure and engineering sector, natural resource management, energy and power sector, disaster management industry, location-based and navigation services, and information management system. The Defense and Intelligence, Infrastructure and Engineering, Natural Resource Management, Energy and power, Disaster Management, location-based and navigation services, Information Management System is considered as one of the fastest growing segment in the with substantial revenue generation in the last few years.
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The market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in aerospace sector, increase in the number of research & development activities in the region and existence of well-established industrial infrastructure.
Asia-Pacific region is predicted to hold major market share in the satellite-based earth observation market with massive growth in forecast period. Countries such as India, China and Japan are leading the Asia-Pacific market with strong economic growth, favorable government policies, and significant investment by leading industry players considering potential growth opportunities in the region.
The key players in the satellite-based earth observation market are Airbus Defense and Space, Inc., Deimos Imaging, SL, Dettwiler & Associates Ltd., Digital Globe, Inc., GeoOptics, Inc., ImageSat International N.V., Skybox Imaging, Inc., and MDA Co.
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The market is divided into the following segments based on geography:
Global Satellite-based Earth Observation Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
• Maxar Technologies
• Thales Group
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