Earth Observation Market

Earth Observation Market Size, Share Report Analysis, By Solution (Commercial Data, Value Added Services), By Application (Defence, Infrastructure, Power & Energy, Location-based Services) & Region- Global Market Insights 2022 to 2032

Analysis of Earth Observation market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Earth Observation Market outlook (2022-2032)

The global earth observation system (EOS) market will reach a valuation of US$ 5,885.6 million in 2022 and is expected to progress at a CAGR of 9.0% to reach US$ 13,934.9 million by the end of 2032.

Value Added Services will account for more than 60% of the revenue generation in EOS market by the end 2022.

Report Attributes

Details

Earth Observation System Market Size (2021A)

US$ 5,427.9 Million

Estimated Market Value (2022E)

US$ 5,885.6 Million

Forecasted Market Value (2032F)

US$ 13,934.9 Million

Global Market Growth Rate (2022-2032)

9.0% CAGR

North America Market Value (2022)

US$ 1,430.6 Million

North America Market Share (2022)

24.3%

Europe Market Value (2022)

US$ 1,311.8 Million

Europe Market Share (2022)

22.3%

China Market Share (2022)

US$ 855.9 Million

China Market Value (2022)

14.5%

Market Share of Top 3 Countries

42.3%

Key Companies Profiled

  • Airbus.
  • BAE Systems
  • Ball Corporation
  • Harris Corporation
  • Lockheed Martin Corporation
  • MBRSC
  • Northrop Grumman Corporation
  • Planet
  • Raytheon Intelligence & Space
  • SARsat Arabia
  • Satellogic
  • Serco Middle East
  • Spectator
  • Thales Group
  • The Boeing Company

Know thy Competitors

Competitive landscape highlights only certain players
Complete list available upon request

Sales Analysis of Earth Observation System (2017-2021) Vs. Market Outlook (2022-2032)

Over the next ten years, it is anticipated that the market for earth observation systems (EOS) would grow at a CAGR of about 9.0% in 2022-2032, with North America and Europe accounting for the bulk of demand.

Numerous businesses, including defense, environment & natural resource monitoring, location-based services, and many more, use earth observation devices for a variety of purposes. Application sectors that support market expansion include those in disaster management, global positioning systems, maritime industry, and others.

EOS satellites are deployed in orbit to monitor the globe, and the data they collect provide a unique perspective that helps to make wise decisions. Additionally, the use of earth observation systems in the maritime, power & energy, and other industries has led to a consistent need for them throughout geographies.

Currently, 1,900 man-made spacecraft orbit the Earth, 1,200 of which are earth observation satellites. More than 3,000 more satellites are anticipated to be launched between 2022 and 2025. Compared to ten years ago, the cost of building and launching a satellite into orbit might be as low as US$ 2,000.

  • Short Term (2022 Q2 to 2025): Growing information technology (IT) market will positively impact earth observation system market growth.
  • Medium Term (2025-2028): North America and Europe projected to witness comparatively high earth observation demand due to increased application of agriculture, disaster management, natural resource survey etc.
  • Long Term (2028-2032): Integration of advanced technologies such as artificial Intelligence to open opportunities for earth observation suppliers.

From 2017 to 2021, the global market for earth observation registered a CAGR of 8.0%. Fact.MR, a market research and competitive intelligence provider, reveals that the market will exhibit growth at 9.0% CAGR between 2022 and 2032.

Earth observation system market forecast by Fact.MR

Market share analysis of earth observation based on solution and region is provided in the above image. Under the solution segment, the value added service sub-segment dominates with 60% market share in 2022.

What’s Driving High Demand for Earth Observation System across Regions?

“Increased Data Traffic & Exchange Lead to Surge in Adaption of Earth Observation System”

The data generated and transferred has increased and still increasing. When comes to the space technology, the same phenomenon is followed and this is driven by the increased sensitization and digitalization of industries and residencies.

The data derived from the space provides a different view of the unique data from other sources. Data Exchange and associated big data files are creating significant value across the market. With the intelligent and efficient use of this data from space based platforms, it allows for effective decision making and increased productivity. This view point form governments and industries is driving the market.

“Reduced Cost for Satellite Launches lead to mass production of satellites”

The advancements in space ad rocket technology along with the use of reusable rockets has brought many opportunities for aerospace market. With the help of reusable satellites, the costs of satellite launches have reduced significantly. Before these, the costs of a satellite launch were nearly US$ 200 million, but after reusable rockets the costs came the costs came down to US$ 60 million. With this decline in the prices for satellite launches, the opportunities for earth observation systems market were escalated.

Now-a-days, mass production of satellites has become a trend in the aerospace market. With the adoption of mass production of satellites, the cost bearing of manufacturing per satellite can be significantly reduced. Initially the cost of individual manufacturing per satellite is nearly at the range of US$ 500 million and with the help of mass production it is estimated to be US$ 500,000 per satellite. Through these analytics of cost per manufacturing satellite and mass production of satellites, the EOS market is expected to have a robust opportunity.

Owing to this, adaption of earth observation system is expected to rise as they are working to achieve technological advancement.

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What Do Earth Observation Market Players Need to Watch Out for?

“Highly skilled Workforce and Expensive Infrastructure is required”

Earth observation systems market is an expensive affair, infrastructure requirement for this system is complex and the labor required for this should be highly skilled. To process the data derived from the space is encrypted and required high skills in programming languages and also the employee should be proficient with big Data, data science and others.

Companies in this market need to spend substantially in order to be competent in the market. Failing to this may leads to hamper the growth of company as well as the safety of aerial vehicles will also be hampered.

Country-wise Insights

Will Increasing Production of Satellites in United States Drive Earth Observation System Demand?

In 2021, the world's space economy expanded at its quickest yearly rate since 2014, reaching a record-breaking US$ 469 billion. According to the FAA (2018), the U.S. space industry had a 2016 market value of about US$ 158 billion. According to reports, satellite communications, specifically satellite services, manufacturing, ground equipment, and launch services, lead the space sector in the United States, much like they do in Canada (FAA 2018).

Owing to this, the United States earth observation system market is expected to reach US$ 1,341.6 million in 2022.

Why is the China Earth Observation System Market Expected to Be Highly Lucrative?

In April 2022, China launched new earth observation satellite which also become part of land sea radar satellite constellation and capture high resolution images to safeguard Beijing and its maritime rights and interests. China have five branch stations to control the satellite in out of them four are in Beijing, Hainan and Xinjiang and another one in Artic.

China has one of the largest remote sensing satellite ground station and is responsible for all the country’s civil land data captured by earth observation system. Increase investment by china on space research which include satellite monitoring, persistent view of land, assets and oceans etc. will lead to increase investment in earth observation system market.

All in all, these factors will enable the growth of the Chinese earth observation system market in the long run and reach a value of US$ 855.9 million by 2022.

Category-wise Insights

Why is Value Added Services Experience High growth?

Satellite earth observation is a crucial practice that guarantees environmental monitoring and management, enabling the predicting, management, and mitigation of disasters. The government focuses on initiatives that are agricultural or ecologically based despite the fact that many large-scale projects are carried out by government agencies, colleges, and other higher institutions due to urgent concerns about food production and sustainability.

Consequently, a number of private businesses have established themselves in the Nigerian earth observation industry. In the past, the majority of privately owned earth observation service providers were branches of foreign firms that provided services to the building and crude oil industries.

Considering the above facts, the value added service sub-segment of the earth observation system market is predicted to capture the market share 60% by the end of 2022. Furthermore, the increasing demand for geospatial analytical services across multiple domain like agriculture, defense, oil and gas and environment monitoring etc. will lead to market growth of earth observation.

Why is Market Growth Being Led by the Defense Sectors?

Compared to the commercial aerospace industry, the defense sector has been far less affected by COVID-19 on a worldwide scale, and in 2022, defense spending is anticipated to remain stable thanks to sustained US government backing for the National Defense Strategy.

Defense companies should priorities enhancing their capabilities in fighter aircraft, space resiliency, shipbuilding, and cybersecurity to spur growth as the US military progressively shifts its focus from rising dangers in the Middle East to those in the Far East. The major defense contractors with record backlogs may benefit from this increased focus as it should underpin revenue growth through 2022 and beyond. Therefore, the market for defense is expected to capture market share of 43.4% by the end of 2022.

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Competitive Landscape

Prominent earth observation system market players are Airbus, BAE Systems, Ball Corporation, Harris Corporation, Lockheed Martin Corporation, MBRSC, Northrop Grumman Corporation, Planet, Raytheon Intelligence & Space, SARsat Arabia, Satellogic, Serco Middle East, Spectator, Thales Group, The Boeing Company.

In order to protect their national security, countries all over the world are being compelled to strengthen their strategic assets, one of which happens to be the utilization of earth observation satellites. This has given nations the primary justification for investing in EOS, together with the climate disaster and notably the requirement to spend money on environmental monitoring systems.

Fact.MR has provided detailed information about the price points of key market players of earth observation positioned across regions, sales growth, offerings, and speculative technological expansion, in the recently published report.

Segmentation of Earth Observation Industry Research

  • By Solution :

    • Commercial Data
    • Value added Services
  • By Application :

    • Defence & Intelligence
    • Infrastructure & Engineering
    • Environment and Natural Resource Monitoring
    • Power & Energy
    • Location-based Services
    • Maritime
    • Disaster Management
    • Agriculture
    • Others
  • By Region :

    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • Middle East & Africa

- FAQs -

What is the global earth observation system market size?

The global earth observation system market is currently valued at US$ 5,885.6 million.

How is the market for earth observation expected to fare in the future?

Worldwide demand for earth observation is anticipated to reach US$ 13,934.9 million by 2032-end.

Which earth observation solution type holds the highest market share?

Value added service earth observation accounts for 60% share of the global market.

Which regional market accounts for a leading market share?

North America leads the global earth observation system market accounting for 24.3% market share in 2022.

How did the market perform over the past few years?

During 2017-2021, sales of earth observation increased at 8.0% CAGR.

Earth Observation Market

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