The Global Earth observation satellite market projected to register a CAGR around 9% from 2017 to 2023.
Earth observation satellite is designed for the purpose of non-military uses and using remote-sensing technique to gather information on the chemical, physical, and biological aspects of the earth system. This technique allows the measuring of earth science parameters with the help of high-resolution cameras and advanced sensors. The primary goal for earth observation satellite is to collect data related to climate patterns, assess damages during natural disasters estimation of crop yields, surface geology mapping, and availability of water sources.
The factors driving the growth of the global earth observation satellite market are the rising satellite constellations and technological improvements in satellite imagery. Earth observation satellites provides the key information and a unique data to support climate change activities. However, there are some shortcomings in the operative performance of the world observation satellite, such as high initial investment price, reusability, and customization. The market for global helicopter avionics is estimated to witness 9% CAGR during the forecast period.
On the basis of region, the market is segmented into America, Asia Pacific, Europe, and Rest of the World. In the North America region, there is a significant investment in surveillance and monitoring technologies. For instance, SpaceX and Airbus Defense designed and built the first Spanish earth observation satellite to assist with civil operations, such as border control, tactical support, natural disaster management, environmental monitoring, risk management, and counter-piracy actions. In the Asia Pacific region, several companies are operational in commercial verticals in media and entertainment and disaster management, with the help of earth observation satellite.
The scope of the Report
This study provides an overview of the Global Earth Observation Satellite Market, tracking four market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for America, Europe, Asia Pacific (APAC), the Middle East & Africa, and South America. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the Global Earth observation satellite market by its fuel type, vehicle type, and region.