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Commercial Satellite Imaging Market OVID19 Impact Analysis and Business Key Players-2024

Key Players:

DigitalGlobe (U.S.), Galileo Group (U.S.), SpaceKnow (U.S.), Airbus (France), Harris Corporation (U.S.), Planet Labs, Inc. (U.S.), Exelis Inc. (U.S.), Blacksky (U.S.), European Space Imaging (Germany), UrtheCast (Canada) and others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global commercial satellite imaging market.

Commercial Satellite Imaging Market – Overview

The global commercial satellite imaging market is growing with the rapid pace. According to a recent study report published by the Market Research Future, The global market of commercial satellite imaging market will grow at a rapid pace over the forecast period. The market is forecasted to witness slow but steady growth by 2024, which will be a surplus growth at a moderate CAGR during the projected period (2018 -2024).

Commercial satellite imaging, well known as remote sensing, denotes the scanning of earth by satellite or high-flying aircraft to obtain geo-referenced information. The market for commercial satellite imaging is gaining attention with the growing requirement for disruptive satellite imagery data analytics by businesses throughout industries. It needs critical information and market understanding about various geospatial and environment conditions for efficient resource supervision.

Geospatial information acquisition & mapping has been the largest commercial satellite imaging market across the globe. In addition, commercial platform has been the major customer of commercial satellite imaging market. It include providers of map created services such as Apple Maps, and Google Maps.

The major trends witnessed in the global commercial satellite imaging market include hyper-spectral processing image for automatic target recognition. Most of the military applications are involve in identifying objects such as a movement of vehicle tracking with the help of hyper-spectral processing image. Moreover, the use of hyper-spectral picture sensors provide image data, encompassing both spatial and spectral information. In addition, it can be reduced to detect various activities as military activities. Moreover, development in high resolution satellite imagery for applications in data related sectors such as agriculture and natural resource managing, is also a factor considerably supporting to the growth of global commercial satellite imaging market.

Global commercial satellite imaging market is driven by factors such as technological development in satellite imaging in addition, application of satellite imagery in various sectors and growing demand of location-based services (LBS) sector. Satellite imaging is used in LBS for different applications, such as navigation, local search, consumer tracking, enterprise services, location-based business intelligence (BI), location-specific health information, etc.

The intensity of rivalry in the global commercial satellite imaging market is at lesser as compared to last couple of years. Majority of the vendors in the global commercial satellite imagery market are aggressively focusing on their business growth by implementing organic and inorganic growth strategies. Presently, the global market is heading towards merging by witnessing major partnership, and acquirements among major companies. For example, DigitalGlobe lately announced its partnership with Esri and Harris Corporation, the providers of advance geospatial information.

Industry/ Innovation/ Related News:

October 2017 – DigitalGlobe migrated its total 100-petabyte imagery library to Amazon Web Services (AWS). The acquisition is intended at building machine learning models that extract data from satellite imagery library, in demand to provide detailed business insights to their customers.

October 2017 – DigitalGlobe was acquired by Maxar Technologies. This acquisition is aimed at leveraging Maxar’s expanded revenue base, core businesses, and enlarge opportunities for the future growth.

Commercial Satellite Imaging Market – Segmentation

The global commercial satellite imaging market is segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;

Segmentation by Application                  : Geospatial Data Acquisition & Mapping, Defence & Intelligence, Energy, Construction & Development, Surveillance & Security, Disaster Management and others.

Segmentation by End-Users                         : Commercial and Defence

Segmentation by Type                                : Small (Nano, Pico, Micro), Middle, and Large.

Segmentation by Regions                        : Comprises Geographical regions – North America, Europe, Asia-Pacific, Middle East & Africa and South America.

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Remote Towers Market Outlook and Opportunities in Grooming Regions with Forecast 2026

Market Forecast

Global Remote Towers Market is projected to register a 30.51% CAGR during the forecast period, 2020 to 2026. Rapidly growing digitalization in air traffic management and increasing need for situational awareness has significantly contributed to the expansion of the remote towers market. Additionally, the stringent aviation regulations pertaining to aircraft safety owing to the growing terrorism across the globe are also expected to drive the growth of the market. Furthermore, the growing tourism across the globe is also expected to provide an opportunity for the growth of the market. For example, according to the World Tourism Organization (UNWTO), in 2017, the total international tourist arrivals accounted for 1,326 million across the globe, with a more than 7% growth compared to 2016. Furthermore, the growing adoption of UAVs for commercial and military applications is also expected to drive the growth of the segment. For example, in May 2019, the Federal Aviation Administration (FAA) announced that there were more than 122,000 commercial drone operators in early 2018.

However, issues related to the rise in cyber threats to air traffic management and limited network infrastructure might hamper the growth of the market. Furthermore, the ongoing COVID-19 pandemic might hamper the growth of the market due to delays in the supply chain, the closing of international borders, and grounding of aircraft. However, initiatives undertaken by the governments of countries such as the US, China, India, and others to reduce the impact of the COVID-19 outbreak on the aviation industry is expected to provide an opportunity for the growth of the remote towers market in the coming years. Moreover, the formation of air bubbles amongst various countries to support air travel during the pandemic is also expected to drive the growth of the market.

Market USP

The growing need for situational awareness for identifying, processing, and providing efficient solutions in the aviation industry is a key factor, which is driving the growth of the global remote towers market.

Growth Opportunities in the Market

Contingency segment to register the highest growth rate: The contingency segment is expected to grow at the highest CAGR during the forecast period owing to the growing use of contingency remote towers in case of emergency or as backup due to increasing air traffic.

Communication segment is expected to be the fastest growing: The communication segment is expected to grow at the highest CAGR during the review period due to the increasing development of new airports. Furthermore, the rising adoption of UAVs is also expected to drive the growth of the segment.

Airport equipment segment expected to register the highest CAGR: The airport equipment segment is projected to grow at the highest CAGR during the forecast period owing to factors such as the increasing aircraft deliveries and the demand for improved operational efficiency of airlines.

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Key Players

  • Saab AB (Sweden)
  • Frequentis Group (Austria)
  • Thales Group (France)
  • Indra Sistemas, S.A. (Spain)
  • Raytheon Technologies Corporation (US)
  • L3Harris Technologies, Inc. (US)
  • Northrop Grumman Corporation (US)
  • Lockheed Martin Corporation (US)
  • Searidge Technologies (Canada)
  • Leonardo S.p.A. (Italy)

Other Prominent Players

  • KONGSBERG (Norway)
  • Avinor AS (Norway)
  • NATS Limited (UK)
  • SkySoft-ATM – Route de Pré-Bois (Switzerland)
  • Systems Interface Ltd. (UK)
  • ACAMS (Norway)