The U.S Commercial Satellite Imaging Market to garner US$ 3 Billion and record a 7.2% CAGR from 2022 to 2032.
The global commercial satellite imaging market is estimated to garner US$ 12.4 Billion while exhibiting a 7.9% CAGR during the forecast period. The growing support from several governments is likely to fuel market growth in the coming time. The trade is expected to secure US$ 5.2 Billion in 2021 and US$ 5.8 Billion in 2022.
The increasing significance of satellite imaging has encouraged the government of various countries to make investments in the sector, which is likely to benefit the market. For instance, the Australian government invested USD 260 Mn for the development of satellite technology and the creation of job opportunities. Similarly, BlackSky, an eminent geospatial intelligence player announced that it secured US$ 50 Million loan from the Intelsat satellite powerhouse, to drive its nascent earth observation.
The military and defense segment is likely to offer remunerative opportunities for the global commercial satellite imaging market. Several emerging economies are making significant developments in their defense and military budgets, thereby, providing lucrative opportunities to players in the market. For instance, as per SIPRI, in 2019, the military expenditure of the U.S was US$ 717 Billion.
Request a Sample of this Report @
https://www.futuremarketinsights.com/reports/sample/rep-gb-14602
Key Takeaways:
“Increasing concerns with respect to national security is likely to encourage various countries to strengthen their satellite imaging systems, which will benefit the market in the forecast period.”
Competitive Landscape
Key players in the global commercial satellite imaging market include Planet Labs, Inc., DigitalGlobe, Inc., Exelis, Inc., Trimble Navigation Limited, and Telespazio, among others. Recent developments among key players are:
Ask an Analyst for More Details @
https://www.futuremarketinsights.com/ask-the-analyst/rep-gb-14602
More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the global commercial satellite imaging market presenting a historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of End-Use (Government, Commercial Enterprise, Civil Engineering, Military, Forest, Agriculture, Energy Sector, Insurance), Application (Energy, Geospatial Technology, Natural Resources Management, Construction and Development, Disaster Response Management, Defense and Intelligence, Conservation and Research, Media and Entertainment), and Region (North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America)
Key Segments Covered In The Commercial Satellite Imaging Industry Survey
Commercial Satellite Imaging by End Use:
Commercial Satellite Imaging by Application:
Request for Customization @
https://www.futuremarketinsights.com/customization-available/rep-gb-14602
Commercial Satellite Imaging by Geography:
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Mar 16, 2023