Commercial Satellite Imaging Market – Growth, Trends, And Forecast (2019 – 2024):-
The report presents an in-depth assessment of the Commercial Satellite Imaging including enabling technologies, key trends, market drivers, challenges, standardization, regulatory landscape, deployment models, operator case studies, opportunities, future roadmap, value chain, ecosystem player profiles and strategies. The report also presents forecasts for Commercial Satellite Imaging investments from 2019 till 2024.
The global commercial satellite imaging market was valued at USD 4.091 billion in 2018 and is expected to reach USD 7.55 billion by 2024.
The report presents the market competitive landscape and a corresponding detailed analysis of the major vendor/key players in the market. Top Companies in the Commercial Satellite Imaging Market: DigitalGlobe Inc., Galileo Group Inc., Planet Labs Inc., SpaceKnow Inc., SkyLab Analytics, Harris Corporation, BlackSky Global LLC, ImageSat International NV, European Space Imaging (EUSI) GmbH, UrtheCast Corp., and others.
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Scope of the Report
Commercial satellite imaging refers to the scanning of the Earth using a satellite or high-flying aircraft to obtain georeferenced data. Satellite imaging is widely being used in various applications of defense, which has been the largest application area, globally.
Regional Analysis For Commercial Satellite Imaging Market:
For comprehensive understanding of market dynamics, Commercial Satellite Imaging Market is analyzed across key geographies namely: North America, US, Europe, Australia, Mexico, UK, India and others. Each of these regions is analyzed on basis of market findings across major countries in these regions for a macro-level understanding of the market.
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Key Market Trends
Military and Defense Applications Account for Significant Share
Military and defense applications are the largest end-user segments of commercial satellite imaging. The military and defense segment accounted for a share of over 40% of the market studied, as of 2017. The growth of the segment can be mainly attributed to security and surveillance applications, which are the core functionalities of any defense organization.
A case in point is that of Afghanistan. After 9/11, the US government did not legislate the high-resolution Ikonos satellite out of taking or releasing images of Afghanistan. Instead, all the exclusive rights of Afghanistan’s spatial data were bought by the US government, making it impossible for other countries to use commercial US imagery to survey the area.
As of 2017, only 16 satellite launches across the globe have been categorized for military operations, whereas, about 219 satellites were launched in the commercial domain. Out of all the satellites launched in the military domain, more than 43% were found to be earth/space observation satellites, whereas, more than 75% of the satellites in the commercial domain were identified as earth observation/space observation satellites (UCS Satellite Database).
Over the forecast period, increasing regulations and bills (like the American Space Commerce Free Enterprise Act of 2017, which is expected to be passed during the forecast period to provide faster licensing timeline to imaging companies) are likely to augment the quality of commercially available spatial data, thereby boosting the growth of the military and defense segment.
North America Region Account for the Largest Share
North America is expected to dominate the market studied during the forecast period, due to the highest number of researches and investments in the market, the presence of sophisticated infrastructure to undertake space programs, and earliest and highest adoption of commercial satellite imaging across various industries in the region.
Due to strong support from the federal government regarding grants to academic institutions and companies to develop highly advanced satellite imaging devices, the market studied is estimated to expand further in the region.
According to the Satellite Industry Association, the United States generated USD 110 billion in revenue from the satellite industry in 2016. This growth is estimated to continue, due to an increase in investments and applications of satellite industry services in other sectors.
The region is also actively innovating new applications for satellite imaging to solve real-life problems.
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What are the market factors that are explained in the report?
–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
–Analytical Tools: Commercial Satellite Imaging Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market.
Finally, Commercial Satellite Imaging Market report is the believable source for gaining the Market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request and Market development rate and figure and so on. This report additionally Present new task SWOT examination, speculation attainability investigation, and venture return investigation.
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