Adroit’s Global Commercial Satellite Imaging Market Size Estimates

Adroit, a market research specialist, has released a report on the projected size of the global commercial satellite imaging market from 2021 to 2031. The report calculates a Compound Annual Growth Rate (CAGR) of 7.6% during this period. With the market for satellite imaging valued at $3.8 billion in 2022, it is expected to double and reach a value of $7.0 billion by 2031.

As expected, North America dominates the market and accounts for the largest revenue share. However, the report also highlights the increasing value of the Military & Defence and Government segments, given the geopolitical uncertainty. Adroit states, "Furthermore, in the defence sector, the current terror threat and attacks on important infrastructure may be tracked using geographic mapping and defended using preventative measures."

The report emphasizes that satellite imaging has made decision-making easier than ever before. It aids in mission planning, search and rescue operations, and the formulation of future improvements by providing exact mapping. As a result, the government and defence sectors have become major drivers for the development of the satellite imaging industry.

The base year for the report is 2022. It considers the imaging market by region, application type (geospatial data acquisition and mapping, natural resource management, surveillance and security, conservation and research, construction & development, disaster management, and defense & intelligence), and end-use type (government, construction, transportation & logistics, military & defence, energy, forestry and agriculture, and Others).

The key companies profiled in the report include DigitalGlobe, Spaceknow, Harris Corporation, Planet Labs, BlackSky Global, Galileo Group, ImageSat International, European Space Imaging, UrtheCast, and Maxar.

Adroit also highlights some limitations on the future growth of satellite imaging. One of the primary restrictions is the lack of awareness about market applications among the target audience. Additionally, governments in various global locations tend to enact shutter control policies that require foreign satellites to turn off imaging equipment in extreme and critical cases, which slows down the market's growth.

You can access the full report on commercial satellite imaging from the Adroit website. For more information on the growth of the UK space industry, see: UK Space Agency sizes UK space industry growth.