The Satellite Earth Observation era began many years ago in 1957 with the launch of Sputnik 1, which orbited the Earth after every 96 minutes and transmitted the radio signals received from the earth. Post this, many satellites were launched, including TIROS-1 in 1960, which successfully entered the atmosphere and produced footage of weather through space. Earth observation satellites are basically equipped with payloads that are used to capture data about the characteristics of Earth. The captured data is then processed and analyzed to extract information that can serve various types of applications and end-users. Currently, many space agencies and commercial companies across the globe have been focusing on Earth observation missions.
The global satellite earth observation data and value-added services market is expected to reach $15,903.0 million by 2032, with a CAGR of 6.92% during the forecast period 2022-2032. The Earth observation data and service market has been witnessing a high growth rate owing to significant demand for applications such as disaster management, agriculture, cartography, and natural resources survey. North America is expected to account for the highest share of the global satellite Earth observation market, owing to a significant number of companies based in the region, increased spending by government and commercial organizations such as the National Aeronautics and Space Administration (NASA), Maxar Technologies, and Planet Labs for Earth observation data and services.
Some of the leading players currently in this market include companies such as Airbus S.A.S, BAE Systems, Ball Corporation, BlackSky Technologies, Capella Space, EarthDaily Analytics (UrtheCast), Geospatial Insight, HawkEye 360, ICEYE, Kongsberg Satellite Services (KSAT), L3 Harris Technologies, Maxar Technologies, RS Metrics, Satellogic, Spire Global, among others.