The Satellite-based Earth Observation Market size is estimated at USD 4.04 billion in 2024, and is expected to reach USD 5.54 billion by 2029, growing at a CAGR of 6.52% during the forecast period (2024-2029).
Satellite-based earth observation is a process of collecting information related to the Earth's various issues using remote sensing. It is used in various applications that impact human life and the environment. Space technology offers vital information that helps address development challenges. Earth observation satellites have been collecting data from space, providing valuable insights into the Earth's natural and artificial environment, how its regions change over time, and what policy-makers can do to mitigate these changes. This data is used by agencies and institutions working in development, aid, and relief.
The market for satellite-based earth observation is significantly fragmented, featuring a mix of global corporations and small to medium-sized businesses.Some of the major players are Airbus Defence and Space (Airbus SE), Esri Inc., Imagesat International (ISI) Ltd, MDA Corporation (Maxar Technologies), and Planet Labs PBC. Market players are employing strategies like partnerships and acquisitions to improve their product lines and secure a lasting competitive advantage.
March 2024 - Ursa Space Systems Inc. partnered with MAIAR, a UK small business specializing in the Defence Intelligence arena, to augment geospatial and open-source analytics for NATO, focusing on benefitting the United Kingdom's operational users. This collaboration leverages MAIAR’s deep understanding of mission intricacies and Ursa’s advanced analytics platform, providing a swift and impactful approach to geospatial analytics. Together, the two companies are poised to expedite delivery times and maximize the magnitude of results, ensuring improved value for both UK and NATO customers.
January 2024 - Imagesat International (ISI) stated that it was awarded a contract worth a total sum of around USD 37.5M for the provision of satellite services to an undisclosed strategic customer during a period of 5 years. Under this contract, ISI would deliver the customer 30 cm resolution imaging services through its EROS C2 and EROS C3 satellites and maintenance and ground station services.
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