The Infinium Global Research analyzes the Commercial Satellite Imaging Market over the period of 2019 to 2025. This report also provides detailed qualitative and quantitative analyses of the market dynamics, market size and future trends in global commercial satellite imaging market. It will help a lot of decision makers to develop strategies and find new opportunities in the global markets of commercial satellite imaging. The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the commercial satellite imaging market during the period. The global commercial satellite imaging market is projected to grow at a CAGR of 9.3% over the forecast period of 2019-2025.
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The satellite imaginary is a term that digitally transmit images taken by artificial satellites orbiting the earth. In 1960 United States launched first satellite imaging system. Since then imaginary satellite is used for military applications. The commercial satellite imaging market provides geospatial data which is used among various sectors such as civil engineering, energy, agriculture, defense, real estate, archaeology, and insurance. In the agricultural and forestry sector commercial satellite imaging is used for change detection, soil analysis, environmental analysis, irrigated landscape mapping, crop assessment, and yield determination. The commercial imaging satellite is prominently used by the defense sector for inspecting the rescue operation, mapping of border areas and monitoring illegal activities through the border area.
Furthermore, in the government sector, the satellite image is used for various reasons such as environmental research, homeland security, mapping transportation network, land mapping, and others. In the energy sector, it is used for inspection of power plants, gas pipeline monitoring, exploration of energy sources and energy loss mapping.
The key players in the commercial satellite imaging market are European Space Imaging (EUSI) GmbH, Galileo Group Inc., DigitalGlobe, Inc., Spaceknow, Inc., SkyLab Analytics, ImageSat International N.V, Harris Corporation, UrtheCast Corp, BlackSky Global LLC, and Planet Labs, Inc.
In 6 Jun 2019, NRO Announced to Start Buying Products from New Vendors and Move Beyond the Single-Supplier Arrangement with Maxar Technologies.
The NRO announced to start buying products from new vendors and move beyond the single-supplier arrangement that NGA signed nearly a decade ago with DigitalGlobe, which has recently been rebranded by its parent company as Maxar Technologies.
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The advanced satellite imagery in the field of homeland security agencies, high resolution, and emergency services, national defense organizations and environment protection are boosting the adoption of commercial satellite imaging market around the world. However, the high cost and scarcity of trained human personnel are restraining the growth of the commercial satellite imaging market for the short term. Moreover, continuous technological development such as high-resolution cameras for clear visibility, cloud service and remote sensing technology is expected to boost the demand of the commercial satellite imaging market in the near future.
Segments Make up the Commercial Satellite Imaging Industry
The commercial satellite imaging market is segmented on the basis of technology, end-use industry, and application. On the basis of the technology, it includes optical and radar. On the basis of the end-use industry it is segmented into Agriculture, Commercial Enterprises, Government, Civil Engineering Industry, Forest, Insurance and Energy Sector. Further, the commercial satellite imaging market on the basis of application bifurcated into Natural Resources Management, Energy, Geospatial Technology, Disaster Response Management, Construction & Development, Conservation & Research, Media & Entertainment, and Defense & Intelligence.
North America is a Leading Region in Commercial Satellite Imaging Market
The commercial satellite imaging market geographically segmented into North America, Asia Pacific, and Europe. North America is a leading region in commercial satellite imaging market since NASA and other prominent private companies such as Space Exploration Technologies (SpaceX) are present in this region and receives lots of funding from the federal government for different satellite programs. The Asia-Pacific commercial satellite imaging market is expected to grow at the highest CAGR during the forecast period, owing to the growing government funding and the cheapest space program in the world. Recently launch of several Chandrayaan series from India in the space is boosting the demand of the commercial satellite imaging market in the Asia-Pacific.
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Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the Commercial Satellite Imaging.
- Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.