Earth Observation Market

Earth Observation Market Outlook (2024 to 2034)

The global Earth Observation Market is evaluated to increase from a value of US$ 6.8 billion in 2024 to US$ 14.6 billion by the end of 2034. The market has been projected to expand at a CAGR of 8% through 2034.

Earth observation satellites designed for non-military applications play a crucial role in monitoring and predicting climate patterns, assessing the impact of natural disasters, estimating crop yields, mapping surface geology, and identifying mineral deposits and water sources.

Operating at an altitude of 800 km, these satellites use remote-sensing techniques to gather data on Earth’s chemical, physical, and biological systems. This approach allows for the measurement of global geological parameters from orbit using high-resolution cameras and advanced sensors, thereby facilitating efficient management of Earth’s natural resources.

Though the market for Earth observation technology is projected to exhibit substantial growth over the forecast period, it faces challenges such as high initial investment costs, coordination among different databases, reusability, customization, and isolation of various satellites from each other. The evolving dynamics of the space industry are set to influence the Earth observation industry, particularly in downstream activities. Downstream companies are focusing on acquiring new data to ensure cost reductions in a commercial marketplace.

Joint ventures and acquisitions are emerging as significant strategic elements in the market. For example, governments are actively involved in developing an Earth observation fleet for various purposes, including remote sensing, Earth science, and meteorology. Earth observation providers are striving to meet an increased market demand alongside satellite communication and satellite internet production landscapes.

Report Attribute	Detail
Earth Observation Market Size (2024E)	US$ 6.8 Billion
Projected Market Value (2034F)	US$ 14.6 Billion
Global Market Growth Rate (2024 to 2034)	8% CAGR
China Market Value (2034F)	US$ 1.6 Billion
Canada Market Growth Rate (2024 to 2034)	8.5% CAGR
North America Market Share (2024E)	23.9%
East Asia Market Value (2034F)	US$ 3.4 Billion
Key Companies Profiled	Airbus; BAE Systems; Ball Corporation; Harris Corporation; Lockheed Martin Corporation; MBRSC; Northrop Grumman Corporation; Planet; Raytheon Intelligence & Space; SARsat Arabia.

How are Advancements in Technology Enhancing Earth Observation Systems?

“Enhanced Accessibility and Cost-Effectiveness of Earth Observation Systems”

Advancements in satellite technology, remote sensing techniques, data analytics, and machine learning are the reasons behind the accessibility and cost-effectiveness of Earth observation systems. These systems are capable of providing high-resolution, real-time data, which is driving increased demand growth in diverse sectors.

Earth observation data is used for various scientific research endeavors, including climate studies, atmospheric research, biodiversity monitoring, and geological surveys. This expands knowledge and understanding of Earth's systems. Benefits offered by Earth observation systems to governments and industries are contributing to the expansion of the Earth observation market size.

What Obstacles Must Companies Watch Out for to Maintain Their Market Position?

“High Implementation Cost and Requirement for Skilled Labor”

Implementation of Earth observation systems is an expensive affair, as the infrastructure requirement for this system is complex and the labor required should be highly skilled. To process the encrypted data derived from space requires skills in programming languages, and the employee should also be proficient in big data and data science. Companies in this market need to invest a substantial amount in staying competent in the market.

Country-wise Insights

Fact.MR, a market research and competitive intelligence provider, asserts through its updated report analysis that North America is projected to hold 24.3% of the global Earth observation solution market share by 2034. Earth observation solution providers have expanded their presence to several regions, such as Southeast Asia, Central and South America, Eastern Europe, Western Europe, and Australia to capitalize on opportunities in these regions.

How is the U.S. Government Contributing to Earth Observation Market Growth?

“Increasing Satellite Production for Remote Sensing and Meteorology”

Attribute	United States
Market Value (2024E)	US$ 700 Million
Growth Rate (2024 to 2034)	8.4% CAGR
Projected Value (2034F)	US$ 1.6 Billion

Increasing production of satellites in the United States is indeed projected to drive the demand for Earth observation satellites. As the world grapples with challenges such as climate change and population growth, the need for comprehensive and accurate Earth observation data is more critical than ever. The United States is at the forefront of the space industry and is ramping up its satellite production.

This increase is not only complementing the growing demand for Earth observation satellites but also contributing to advancements in various sectors such as defense, environment & natural resource monitoring, and location-based services. The United States government’s active participation in the development of the Earth observation fleet for purposes such as remote sensing and meteorology indicates a positive trend in the Earth observation market.

How is Satellite Technology Prowess of China Driving Demand for Earth Observation Solutions?

“Rising Implementation of Earth Observation in Precision Agriculture and Urban Planning”

Attribute	China
Market Value (2024E)	US$ 700 Million
Growth Rate (2024 to 2034)	8% CAGR
Projected Value (2034F)	US$ 1.6 Billion

China has made substantial progress in satellite technology, including high-resolution imaging, hyperspectral imaging, and synthetic aperture radar (SAR) systems. These technological advancements have improved data accuracy, resolution, and the ability to collect real-time data, thus driving the demand for Earth observation services.

• The government in China has launched several satellite programs such as the Gaofen series, Ziyuan series, and Fengyun series, with a focus on high-resolution imaging, hyperspectral imaging, and SAR technology. These initiatives aim to enhance national security, environmental protection, disaster management, and resource monitoring.

China's commercial sector recognizes the value of Earth observation data for diverse applications. Precision agriculture, urban planning, insurance, and infrastructure development increasingly utilize Earth observation services. Growing interest from commercial entities is driving market expansion and stimulating private investments in the sector. The Chinese government has implemented policies and regulations to support the growth of the market. These include data sharing guidelines, satellite data commercialization, and licensing procedures.

Category-wise Insights

Earth observation solutions are segmented into commercial data and value-added services. Out of these two segments, value-added services are set to account for a leading share of the Earth observation market of 70% in 2024.

Why are Governments Worldwide Adopting Value-added Earth Observation Services?

“Concerns about Food Production and Sustainability and Need to Mitigate Natural Disasters”

Attribute	Value-Added Services
Segment Value (2024E)	US$ 4.7 Billion
Growth Rate (2024 to 2034)	7.4% CAGR
Projected Value (2034F)	US$ 9.6 Billion

Satellite Earth observation is a crucial practice that guarantees environmental monitoring and management, enabling the prediction and mitigation of disasters. Governments in many countries focus 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.

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. Demand for geospatial analytical services across multiple domains such as agriculture, defense, oil and gas, and environmental monitoring is increasing at a significant pace.

How has Reduction in Satellite Launch Costs Impacted the Defense and Intelligence Sectors?

“Increasing Accessibility to High-Resolution Real-Time Data to Expedite Operations”

Attribute	Defense & Intelligence
Segment Value (2024E)	US$ 1.7 Billion
Growth Rate (2024 to 2034)	5.6% CAGR
Projected Value (2034F)	US$ 2.9 Billion

The defense and intelligence segment holds a significant share of the Earth observation market as these functions rely heavily on accurate and real-time data for operations such as border control, search operations, and preparation of defensive actions at national and regional levels. The data collected by Earth observation systems provides a unique perspective that aids in making informed decisions.

Cost of building and launching a satellite into orbit has significantly reduced compared to 10 years ago, making Earth observation systems more accessible. The defense sector's demand for high-resolution data for various applications, such as disaster management and global positioning systems is driving market expansion.

Competitive Landscape

Key players in the Earth observation industry are striving to develop cost-effective Earth observation systems for market expansion and to stay competitive.

• In 2023, Satellogic partnered with SkyFi, a provider of Earth observation data. SkyFi has developed an application that empowers individual users to control satellites from their devices to pinpoint specific locations of interest. This alliance with Satellogic will enable SkyFi’s users to have direct access to Satellogic’s robust constellation of thirty satellites.
• In 2023, Planet Labs joined forces with ERM, a top-tier sustainability consultancy. The collaboration aims to deliver integrated data and analytics solutions for environmental monitoring and risk management, catering to the growing demand for sustainable practices across various sectors.
• In 2023, BlackSky signed a contract worth US$ 45 million with the United States Air Force. The contract, which involves providing real-time geospatial intelligence, underscores the growing importance of commercial satellites for national security.

Fact.MR provides detailed information about the price points of key providers of Earth observation systems positioned across the world, sales growth, and speculative technological expansion in this updated market report.

Key Segments of Earth Observation Market Research

• By Solution :

  • Commercial Data
  • Value-Added Services

• By Application :

  • Defense & Intelligence
  • Infrastructure & Engineering
  • Environment & Natural Resource Monitoring
  • Power & Energy
  • Location-Based Services
  • Maritime
  • Disaster Management
  • Agriculture

• By Region :

  • North America
  • Latin America
  • Eastern Europe
  • Western Europe
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa