The global commercial satellite imaging market value in 2024 is estimated at around USD 5,329.5 million. Increasing concerns with respect to national security have encouraged various countries to strengthen their commercial satellite imaging service providers.
The global adoption of commercial satellite imaging services is projected to grow at 8.2% CAGR during the forecast period. Owing to the growing support from various governmental organizations, the global commercial satellite imaging industry value is likely to reach up to USD 11,752.2 million by 2034 end.
Commercial Satellite Imaging Market Trends and Analysis
With the help of commercial satellite imaging for insurance and other financial institutions, decision-making has become more convenient. So, the growing demand for aerial imaging services for precision mapping has gained enough attention from different commercial entities in the last few years.
Commercial satellite imaging for the energy sector is anticipated to create new remunerative opportunities for the global market players in the coming days. So many service providers are making necessary adjustments in their business models to initiate commercial satellite imaging for civil engineering or infrastructure development.
| Report Attribute | Details |
|---|---|
| Commercial Satellite Imaging Market Revenue (2024) | USD 5,329.5 million |
| Market Anticipated Forecast Value (2034) | USD 11,752.2 million |
| Market Projected Growth Rate (2024 to 2034) | 8.2% |
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The global commercial satellite imaging market garnered USD 3,847.3 million in 2019 and exhibited a Y-o-Y increment of 6.6% , to be valued at USD 4,965.4 million in 2023. During this period, several start-ups for commercial satellite launch services cropped up based on share-holding business models.
For instance, SpaceX launched an Earth-imaging satellite and its broadband demos that held a radar-imaging satellite for Spain’s Hisdesat Servicios Estrategicos SA. The satellites were designed to obtain details, comprising weather data and ship tracking, for the government and commercial end users and took the commercial space for satellite technologies to new heights.
In another instance, BlackSky, a known geospatial intelligence company, announced that it procured USD 50 million in loans from the Intelsat satellite powerhouse, principally to enhance its nascent earth observation.
Also, increasing usage of commercial satellite imagery for agriculture, data acquisition, and navigation, among other commercial purposes, is likely to augment the market size during the forecast period.
| Attributes | Details |
|---|---|
| Commercial Satellite Imaging Market Size (2019) | USD 3,847.3 million |
| Market Size (2023) | USD 4,965.4 million |
| Market (CAGR 2019 to 2023) | 6.6% |
Several countries are now encouraging the launching of surveillance satellites by commercial entities to augment defense operations owing to the rising insecurities regarding nations’ safety.
Therefore, with the rising concern for nations’ security with increased defense expenditure, the market is likely to witness notable opportunities for expansion in the forecast period.
The proposal for commercial satellite imaging for forests is expected to open up enduring growth opportunities for the market players as a vast stretch of green cover still remains uncharted.
Details obtained from commercial earth observation for driving programs to protect properties, save lives, and strengthen future economic stability are also expected to improve the market outlook.
The table below lists the countries which are expected to witness remarkable growth in the adoption of commercial satellite imaging services. Growing adoption of commercial satellite imaging across several countries in North America and Europe has rendered the United States and Germany a greater share of the overall market.
However, APAC is anticipated to be the most promising region during the forecast period. The growth of the market can be attributed to the advancing space programs in countries like India, China, Japan, and others.
| Regional Market Comparison | CAGR (2024 to 2034) |
|---|---|
| United States | 5.1% |
| Germany | 7.7% |
| China | 8.8% |
| Japan | 9.5% |
| Australia | 11.8% |
The United States is anticipated to lead the global satellite imaging market during the forecast period by exhibiting a CAGR of 5.1% from 2024 to 2034. Some identified factors that are anticipated to propel the United States commercial satellite imaging industry over the forecast period include:
Some notable factors that are anticipated to result in the market in China to expand at an 8.8% CAGR during the forecast period include:
By product type, the hardware segment is expected to be the leading segment in 2024, contributing 41.7% of the total revenue share. As per the analysis, the hardware segment is likely to dominate the market through the forecast period.
| Attributes | Details |
|---|---|
| Top Product Type or Segment | Hardware |
| Market Share in 2024 | 41.7% |
The hardware segment is anticipated to expand at a higher CAGR than the software segment due to the following reasons:
According to the observations, the defense & intelligence segment, by application, dominates the overall market by accounting for 24.5% of the total demand in 2024. This segment is anticipated to remain dominating during the forecast period owing to the increasing security and surveillance applications.
| Attributes | Details |
|---|---|
| Top Application Segment | Defense & Intelligence |
| Market Share in 2024 | 24.5% |
The defense and intelligence segment is expected to grow at a 7.9% CAGR in the assessment period. Some central factors that are expected to be instrumental in continuing this growth rate include:
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The commercial satellite imaging market is at a budding stage, and the overall market is highly consolidated, with few market players having the necessary technology and capacity to act as satellite data providers.
The ongoing research and development activities in commercial aerial imaging services for precise mapping have augmented satellite data analytics systems with the help of modern technologies.
So, satellite image processing capabilities are improving day-by-day, thereby offering more opportunities for the emergence of more satellite launch service providers.
Recent Developments in Global Commercial Satellite Imaging Market
In February 2020, the Air Force Life Cycle Management Centre announced a strategic partnership with L3Harris Technologies to develop a software platform.
The software is likely to make it convenient for analysts to use AI to locate objects in large data sets, thereby addressing urgent defense requirements for automation to observe and analyze large geospatial data sets.
In July 2019, Digital Globe developed OpenStreet Map imagery endpoints. It will enable the users of OpenStreetMap to see uniformity in content between the previous and new layers. The imagery is anticipated to be updated more often using the latest Maxar mosaic content. The enhanced production processes are likely to benefit OSM contributors.
In December 2022, Accenture and Planet Labs collaborated to develop geospatial intelligence technology and tools for sustainability, climate risk mitigation, and tracking supply chains. The companies claim it to be powered by AI to support decision-making at businesses across various industries, including government, financial services, forestry, and agriculture.
| Attribute | Details |
|---|---|
| Estimated Market Size (2024) | USD 5,329.5 million |
| Projected Market Size (2034) | USD 11,752.2 million |
| Anticipated Growth Rate (2024 to 2034) | 8.2% |
| Forecast Period | 2024 to 2034 |
| Historical Data Available for | 2019 to 2023 |
| Market Analysis | USD million or billion for Value and Units for Volume |
| Key Regions Covered | North America; Latin America; Europe; Middle East & Africa (MEA); East Asia; South Asia and Oceania |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, Spain, Italy, France, United Kingdom, Russia, China, India, Australia & New Zealand, GCC Countries, and South Africa |
| Key Segments Covered | By Product Type, By Application, By End Use Verticals and By Region |
| Key Companies Profiled | Planet Labs, Inc.; DigitalGlobe, Inc.; Exelis, Inc.; Trimble Navigation Limited; Telespazio |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The global commercial satellite imaging market is to grow at 8.2% during the forecast period.
The global commercial satellite imaging market is predicted to be valued at USD 11,752.2 million by 2034.
The global commercial satellite imaging market was valued at USD 4,965.4 million in 2023.
The defense and intelligence segment accounts for nearly 24.5% of the revenue share of the global market.
Australia is predicted to witness a CAGR of 11.8% in the adoption of commercial satellite imaging through 2034.
| Industry Size (2025E) | USD 4,854.7 million |
| Industry Value (2035F) | USD 16,334.3 million |
| CAGR (2025 to 2035) | 12.9% CAGR |
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Commercial Satellite Imaging Market
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