The increasing use of satellite imaging for national security purposes can have a tremendous impact on the global market, states Fortune Business Insights, in a report, titled “Satellite Imaging Market Size, Share & Industry Analysis, By Application (Geospatial Data Acquisition & Mapping, Natural Resource Management, Surveillance & Security, Construction & Development, Conservation & Research, Defense & Intelligence, Disaster Management), By End-Use (Government, Defense, Forestry & Agriculture, Construction) and Regional Forecast, 2023-2030.” The growing demand for broadband services is expected to foster healthy growth of the market in the forthcoming years.

The coronavirus incident has caused colossal loss to several industries across the globe. The governments of several countries have instigated lockdown to thwart the spread of this deadly virus. Such plans have caused disturbances in the production and supply chain. But, with time and resolution, we will be able to combat this stern time and get back to normality. Our well-revised reports will help companies receive in-depth information about every market’s present scenario so that you can adopt the necessary strategies accordingly. The satellite imaging market report includes essential understandings of the market, all-inclusive data about prominent players, distinguished facts and figures, latest developments, key drivers and restraints, and imperative information about dominant regions. Moreover, the report also provides a brief study on the COVID-19’s impact on the market.

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The Report Lists the Key Companies in the Satellite Imaging Market:

  • Google Inc. (The U.S.)
  • DigitalGlobe, Inc. (The U.S)
  • GeoEye, Inc. (The U.S.)
  • ImageSat International N.V. (The U.S.)
  • Airbus Defence and Space (Germany)
  • Galileo Group, Inc. (The U.S.)
  • SpaceView Inc. (The U.S)
  • L3Harris Corporation (The U.S)
  • European Space Imaging (Germany)

Market Driver:

Rising Demand for Location-Based Services (LBS) to Promote Growth

The growing security concerns have led the government to increase the use of satellite imaging solutions to strengthen the defense operations, which, in turn, can improve the prospects of the market. The increasing investment by the government in the defense sector is expected to bolster the healthy growth of the market. Moreover, the rising demand for broadband services is likely to enable speedy expansion of the market in the forthcoming years. Furthermore, the need for location-based services (LBS) to provide real-time geospatial information for preventing life-threatening situations and disasters is expected to boost the market’s growth. However, high-resolution image offered by terrestrial and aerial imaging can impede the development of the market.

Contracts and Mergers between Companies to Augment Growth

The increasing adoption of various strategies such as mergers, acquisitions, partnerships, and others can have an excellent impact on the market. For instance, in July 2019, Maxar Technologies announced that it had signed a three-year agreement to offer its Vivid and Metro satellite imagery mosaics to Esri’s ArcGIS Living Atlas of the World. This new contract builds upon Esri and Maxar Technologies’s long-term partnership and demonstrates Esri’s commitment to provide ArcGIS users with the highest quality satellite imagery foundation available.

Regional Analysis:

Presence of Prominent Companies to Aid Market in North America

North America is expected to dominate the market due to the increasing number of researches and investments in the market. The presence of prominent companies such as Google Inc., GeoEye, Inc., ImageSat International N.V., and others is expected to boost the growth in the region. The U.S. government is refurbishing its existing space regulations, and this is expected to increase commercial space activities in the region. The market in the Asia Pacific is expected to grow at a higher rate owing to developments in emerging economies such as China and India. China is expected to contribute to the market demand substantially. Europe is expected to expand radically during the forecast period owing to increasing commercialization in the European countries.

Key Developments:

November 2019: Vricon CitySuite meets many and variable demands of 3D geospatial users who require accuracy at a city scale. Vricon CitySuite is intended to assist planners with various activities, from citywide asset management to smart 3D mapping.

June 2019: Airbus announced its partnership with Surrey Satellite Technology Limited for using end-to-end imaging operations and for enhancement of Vision-1, SSTL S1-4 Satellites.

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By Emelia Murison

Emelia Murison is a freelance writer and editor with a passion for innovation and technology. She covers breaking industry news, #SpaceForGood, and product reviews for the group. She also provides copywriting services to startups around the world – one of which introduced her to the world of Aerospace.