PUBLISHER: Allied Market Research | PRODUCT CODE: 1538905
PUBLISHER: Allied Market Research | PRODUCT CODE: 1538905
Satellite-based earth observation relies on payloads mounted on satellites to capture imaging data of earth's characteristics. Earth observation technologies employ different types of sensors such as optical or thermal sensors, radar sensors. Optical sensors monitor the energy received from earth due to the reflection and re-emission of the sun's energy by the earth's surface or atmosphere. They operate within the visible and infrared wavelengths of the electromagnetic spectrum. Radar sensors operate in the lower part of the spectrum (longer wavelengths). They send energy to earth and monitor the energy received back from earth's surface or atmosphere, allowing for day and night monitoring in all weather conditions.
Advancements in satellite technology, encompassing enhancements in sensors, imaging precision, and data processing capabilities, facilitate increasingly precise and detailed earth observation. These technological strides spur innovation, creating lucrative opportunities across diverse sectors. Moreover, notable shift has been observed toward downsizing satellite payloads and embracing CubeSats-a class of nano- and microsatellites. This trend allows for the deployment of smaller, more cost-effective satellites tailored for earth observation missions. By leveraging constellations of these diminutive satellites, the frequency of revisits and broader coverage of the earth's surface increases, which, in turn, augments the market growth. In addition, rise in demand for geospatial data spans numerous applications such as urban planning, agriculture, disaster response, and climate monitoring. Satellite-based earth observation, offering comprehensive and timely data, plays a pivotal role in facilitating informed decision-making within these domains, thereby propelling the market expansion. For instance, in October 2023, Suhora Technologies, an advanced monitoring and analytical geospatial solutions provider, announced a partnership with ICEYE, a satellite technology company, to access ICEYE's high-quality satellite imagery, enhancing Suhora's ability to provide advanced monitoring and analytical geospatial solutions to its users. This access to SAR data is crucial for situational awareness and timely decision-making across various sectors, including insurance, national security, disaster response, humanitarian relief, and climate change monitoring. As more industries recognize the value of satellite-based earth observation data for decision-making, the market is expected to grow significantly in the coming years.
For the purpose of analysis, the satellite-based earth observation market scope covers segmentation based on product type, satellite orbit, end use, and region. The report provides information about various product types of satellite-based earth observations such as EO data and value-added services. In addition, it highlights the details about the satellite orbit, including LEO, MEO, and GEO. Furthermore, defense, urban development & cultural heritage, agriculture, climate services, energy & raw materials, infrastructure, and others are the key end uses covered in the study. Moreover, it analyzes the current market trends of satellite-based earth observations across different regions such as North America, Europe, Asia-Pacific, and LAMEA and suggests future growth opportunities.
Some major companies operating in the market include Airbus SE, Boeing, Lockheed Martin Corporation, Mitsubishi Electric Corporation, Planet Labs PBC, RAYTHEON Technologies Corporation, Israel Aerospace Industries Ltd., L3HARRIS TECHNOLOGIES, INC., Thales Group, Maxar Technologies, BlackSky, Capella Space, SkyWatch Space Applications Inc., and ICEYE.
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