PUBLISHER: The Business Research Company | PRODUCT CODE: 1694682
PUBLISHER: The Business Research Company | PRODUCT CODE: 1694682
An optical satellite, also known as an optical imaging satellite, is equipped with sensors that capture images of the Earth's surface using visible light. It is predominantly employed for Earth observation purposes, enabling the monitoring of land-use alterations, the surveillance of natural disasters, and the evaluation of climate change effects.
The main types of components in optical satellite are imaging and sensing systems and optical communication systems. Imaging and sensing system components are the various hardware and software elements that make up a system designed to capture, process, and analyze imagery and sensor data. It comes in various sizes, including small, medium, and large, and is used in different applications, such as earth observation and communication and end users are commercial, government and defense.
The main types of components in optical satellite are imaging and sensing systems and optical communication systems. Imaging and sensing system components are the various hardware and software elements that make up a system designed to capture, process, and analyze imagery and sensor data. It comes in various sizes, including small, medium, and large, and is used in different applications, such as earth observation and communication and end users are commercial, government and defense.
The optical satellite market size has grown rapidly in recent years. It will grow from $2.27 billion in 2024 to $2.59 billion in 2025 at a compound annual growth rate (CAGR) of 13.9%. The growth in the historic period can be attributed to increasing demand for earth observation, government initiatives, defense and security applications, commercialization of space, global connectivity needs.
The optical satellite market size is expected to see rapid growth in the next few years. It will grow to $4.01 billion in 2029 at a compound annual growth rate (CAGR) of 11.6%. The growth in the forecast period can be attributed to miniaturization and cost efficiency, rising adoption of AI and data analytics, emerging applications in new industry sectors, global climate monitoring, increased private sector investments. Major trends in the forecast period include technological advancements, international collaborations, next-generation satellite technologies, advanced imaging capabilities, rapid technological evolution.
The growing number of smartphone users is expected to propel the growth of the optical satellite market going forward. A smartphone user refers to an individual who owns and operates a smartphone, a mobile device that combines a computer's functionality with a mobile phone's convenience. Smartphone users use optical satellite data to enhance their experiences, address specific needs, and provide valuable information for navigation, exploration, emergency preparedness, environmental awareness, agriculture, urban planning, research, and education. For instance, in March 2023, according to a report published by Cybercrew, a UK-based company developing and providing cybersecurity solutions for businesses of all sizes, the percentage of UK households using smartphones reached 91.43% in 2021, which is projected to increase to 93.8% in 2026. Therefore, the growing number of smartphone users is driving the growth of the optical satellite market.
Major companies in the optical satellite industry are focusing on developing innovative technologies such as the Long March 5 Rocket and Optical Remote Sensing Technology to enhance satellite imaging and data collection capabilities. The Long March 5 Rocket is a heavy-lift launch vehicle designed to transport large payloads, like satellites, into various orbits, with the ability to carry up to 14,000 kg to the Geostationary Transfer Orbit (GTO). Optical Remote Sensing Technology uses satellite technology to capture images of Earth's surface for various applications, including military reconnaissance and environmental monitoring. For example, in December 2023, China Aerospace Science and Technology Corporation (CASC), a China-based aerospace technology company, launched the Yaogan-41 optical satellite. This launch aims to enhance China's remote sensing capabilities, with applications in military and civilian sectors. The primary goals include improving land surveys, crop yield estimation, environmental management, meteorological warnings, and disaster prevention and reduction.
In January 2022, Voyager Space Holdings Inc., a US-based company that develops commercial space stations, acquired Space Micro for an undisclosed amount. Through this acquisition, Voyager aims to strengthen its position in the space industry, expand its capabilities, and use this support to advance Space Micro's technology for commercial and defense customers. Silatronix is a US-based company that is developing and manufacturing space-grade optical communication systems for optical satellites.
Major companies operating in the optical satellite market are Raytheon Technologies Corporation, Lockheed Martin Corporation, Mitsubishi Electric Corporation, Northrop Grumman Corporation, Honeywell International Inc., NEC Corporation, Boeing Company, Safran SA, Thales Group), L3 Harris Corporation, Ball Aerospace & Technologies Corp., Leonardo S.p.A., Maxar Technologies Holdings Inc., Starlink Inc., Orbital Sciences Corporation, OHB SE, Tesat-Space GmbH & Co. KG, Surrey Satellite Technology, Planet Labs Inc., Sitael S.p.A., Analytical Space Inc., ATLAS Space Operations Inc., Hisdesat Servicios Estrategicos S.A., Mynaric AG, Airbus Defence and Space Company
North America was the largest region in the optical satellite market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the optical satellite market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the optical satellite market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The optical satellite market consists of revenues earned by entities by providing services such as earth observation, disaster management, agricultural monitoring, and environmental monitoring. The market value includes the value of related goods sold by the service provider or included within the service offering. The optical satellite market also includes sales of high-resolution optical satellites, multi-sensor satellites, and constellation satellites. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Optical Satellite Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on optical satellite market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for optical satellite ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The optical satellite market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.