Global Satellite-Based Earth Observation Market: Industry Analysis And Forecast 2020 -2026

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Global Satellite-Based Earth Observation Market: Industry Analysis and Forecast 2020 -2026

Global Satellite-Based Earth Observation Market is anticipated to reach US$ XX Mn by 2026 from US$ 2,743.5 Mn in 2019 at a CAGR of XX% during a forecast period.

Satellite-Based Earth Observation Market
Global Satellite-Based Earth Observation Market Overview

Satellite-based Earth Observation (EO) is a process done with the help of satellites, which revolve around the planet to identify environmental changes, map-making and gather the information related to chemical, physical and biological aspects of the earth system.

This gathered information is used to detect damage during floods, tsunamis, and other natural disasters, agricultural and usage, petroleum and mineral deposits, availability of water sources etc. Where many industries like defense and intelligence, infrastructure and engineering, natural resource management, energy and power, and disaster management use this gathered information by satellites to make the decision regarding various segments, which in return is expected to drive the growth of Satellite-Based Earth Observation Market during the forecast period.

The report provides a detailed study of key market dynamics, market segmentation and regional analysis. The market study contains detailed insights about how the Global Satellite-Based Earth Observation Market is anticipated to grow during the forecast period.

Global Satellite-Based Earth Observation Market

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Global Satellite-Based Earth Observation Market Dynamics

The satellites are equipped with high-resolution cameras and advanced remote-sensing technology to get high satellite-based earth observation images. These improvements in satellite technology led the Satellite-Based Earth Observation Market to grow globally. Further, this data is used by defense, science, research and development organizations, and private users to lower technology barriers, which in turn is expected to boost the Satellite-Based Earth Observation Market globally.
Similarly, surveyors, farmers, miners, fishers, engineers, and other decision-makers along with Google Inc. use these data collected by satellites in mapping and location services to boost the Satellite-Based Earth Observation Market globally.

In addition to this, the government has invested about $10 billion in 2019 for the EO program in the civil and meteorology sector, which is likely expected to drive the growth of the Satellite-Based Earth Observation Market during the forecast period.

The ‘Group on Earth Observation System of Systems’ is system is incorporated to resolve the challenges arising due to its high investment cost and the incoordination among different databases continue due to the isolation of various satellites from one another, which is expected to hamper the Satellite-Based Earth Observation Market during the forecast period. Thus to resolve these challenges the system offers a single internet access point to all the users to get the information directly to the users across the various domains.
Recent Developments:

The Airbus Company in February 2020 reintroduced its portfolio of turnkey Earth observation systems, which offers a portfolio of end to end system. It involves standard products ranging from S250 optical and S250 radar all the way to absolute-high-end systems with the S850 radar and the S950 optical.
Global Satellite-Based Earth Observation Market Segmentation Analysis

By Application: The data collected by Satellite-based Earth Observation is analyzed and maintained by various industries for decision making in various segments. The data utilized by the Satellite-based Earth Observation holds the largest market share of 36.3% and value-added services hold about 27.2% of the market share in 2019. Where the data segment is expected to grow during the forecast period due to demand from users such as surveyors, farmers, miners, fishers, engineers, and others decision-makers, to pursue their business objectives. This is the reason the EO data segment is projected to grow with a CAGR of XX%, during the forecast period.

By End User: Satellite is being used to monitor and collect the data related to chemical, physical and biological aspects of the earth system, which give the total analysis regarding damage during floods, tsunamis, and other natural disasters, agricultural and usage, petroleum and mineral deposits, availability of water sources etc. Defense and intelligence industry holds a maximum share of the Satellite-Based Earth Observation Market as it gives the data related to Border control, search operations and preparation of defensive actions at the national and regional levels, which are the key areas for the use of earth observation technologies.
In the engineering sector, civil engineering holds the largest share of EO data for mapping, pipeline routing, geological surveys and subsidence monitoring. Similarly in agriculture application, Satellite-Based Earth Observation is used to provide data for monitoring soil, snow cover, drought, crop development and rainfall assessments.

Satellite-Based Earth Observation Market
Global Satellite-Based Earth Observation Market Regional Analysis

Global Satellite-Based Earth Observation Market

North America is expected to hold a maximum share of XX% in the Satellite-Based Earth Observation Market during the forecast period due to constant research activities and investment for the highest adoption of satellites across the different industries in the region.

Developing countries like Vietnam, Malaysia, Kazakhstan and South Africa are expanding their autonomous activities, which may lead to the growth of the Satellite-Based Earth Observation Market in the region. Similarly, initiatives taken by the government to develop highly advanced satellite imaging devices, for institutions and companies are expected to drive the growth of the Satellite-Based Earth Observation Market during the forecast period.
According to the data given by the government, almost 50 countries will launch their own satellites during the forecast period, where Morocco and Pakistan were the

latest new countries to launch Earth observation satellites. Additionally, Geographic Information System (GIS) companies and manufacturers of mobile devices are joining hands with leading operators of remote sensing satellites, which are located in the United States, Europe, China and India. This in turn is expected to drive the growth of the Satellite-Based Earth Observation Market during the forecast period.

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Global Satellite-Based Earth Observation
Global Satellite-Based Earth Observation Market Scope: Inquire before buying

Global Satellite-Based Earth Observation Market
Global Satellite-Based Earth Observation Market by Region:

• North America
• Asia pacific
• Europe
• Middle East and Africa
• South America
Global Satellite-Based Earth Observation Market Key Players

• Airbus Defense and Space
• MDA Corporation
• UrtheCast Corporation
• Harris Corporation
• Planet Labs Inc.
• GeoOptics Inc
• Hispasat,
• ImageSat International N.V
• L3Harris Technologies Inc
• Maxar Technologies
• PlanetiQ, Thales Group
• Dettwiler & Associates Ltd
• Deimos Imaging S.l.
• Skybox Imaging Inc
• Rapid Eye A.G.

 

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