The Nordics satellite imagery services market size is expected to grow from USD 0.22 billion in 2024 to USD 0.4 billion by 2029, at a CAGR of 13.62% during the forecast period. The Nordics satellite imagery services market is driven by the increasing demand for satellite imagery services in disaster management and climate change issues, forestry, and agriculture, coupled with the emergence of various regional market vendors offering innovative satellite imagery services.
The Nordics Satellite Imagery Services market is semi-consolidated owing to a few major market vendors holding significant market share. The market players in the region are indulging in partnership and acquisition activities and launching new innovative satellite imagery solutions with the integration of advanced technologies. Moreover, market vendors are engaging in partnership activities with government organizations to proliferate the demand for satellite imagery services. A few major market vendors operating in the Nordics satellite imagery services market include Thales Alenia Space, Maxar Technologies, ICEYE, Planet Labs, and OHB Sweden, among others.
In June 2023, ICEYE, a Finland-based leader in persistent monitoring with radar imaging satellites and an expert in natural catastrophe solutions, expanded its constellation with four new synthetic aperture radar satellites. The next-generation satellites launched by ICEYE can image the Earth with a ground range resolution of 50 centimeters and are accompanied by Spot Fine, a new data product. This new imaging mode is the first class of data offerings enabled by the company's Generation 3 (Gen3) satellite technology.
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