London, 04 June 2015: Technavio, the independent tech-focused global research firm, has published a report on the global satellite-based earth observation market 2015-2019, which is expected to grow at a CAGR of 13.23% during the forecast period of 2014-2019.
The demand for earth observation data and value-added services has increased considerably. Also, synthetic aperture radar imagery is still in huge demand with a comparatively lesser decline in price than satellite imagery. The market for satellite observation data is also expected to grow across different verticals such as energy and natural resources, navigation and location-based services, industry, and living resources.
“Many earth observation providers have entered maritime surveillance to leverage its high revenue potential,” says Faisal Ghaus, Vice President of Technavio.
“Satellite-based earth observation satellites and SAR instruments are predominantly used in maritime surveillance. Satellites such as TerraSAR-X, Radarsat-2, and Sentinel-1 provide images for maritime surveillance and cover the entire surface of the globe.”
Key Market Drivers
- Widening application base of earth observation satellites
- High government spending in space programs
- High demand for satellite-based observation from emerging countries
- Improvement in satellite images
Key Market Trends
- Increased use of small satellites
- Increased use of analytics
- Increased use of satellite-based earth observation in maritime surveillance
- Increased use of satellite-based earth observation in disaster management
Key Market Vendors
- Airbus Defense and Space GmbH
- DigitalGlobe Inc.
- DMC International Imaging
- ImageSat International NV
- MDA Information System LLC.
- Skybox Imaging Inc. (Google)
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
