Commercial Satellite Imaging Market Updates

Skyquest Technology's expert advisors continuously track and analyze the latest developments and updates related to commercial satellite imaging market. Our team of analysts stay abreast of all the recent news stories shaping the industry including new product launches by major companies, strategic partnerships, M&As, Patent filings and industry and regulatory developments.

Commercial Satellite Imaging Market News

  • January 2023: Spire Global has raised $70 million in a new round of fundraising led by Greenspring Associates. The money is to improve the firm's data analytics skills and also expand its fleet of satellites.
  • April 2022: the Japan Meteorological Agency (JMA) awarded L3Harris Technologies a contract for a revolutionary study that would significantly upgrade the accuracy and timeliness of weather forecasting in Japan.
  • April 2022: Planet Labs Inc., the leading provider of constant satellite imagery, and Moody's, a global integrated risk assessment leader for financial markets, have formed a strategic partnership to explore and develop ESG risk assessment and monitoring solutions.

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Commercial Satellite Imaging Market size was valued at USD 5.78 Billion in 2023 and is poised to grow from USD 6.55 Billion in 2024 to USD 17.78 Billion by 2032, growing at a CAGR of 13.3% during the forecast period (2025-2032).

Key vendors in Commercial Satellite Imaging Market are: 'GeoEye, Inc.  ', 'Airbus Defense and Space  ', 'Maxar Technologies Ltd.  ', 'ImageSat International N.V.  ', 'Ball Corp.  ', 'UrtheCast Corp.  ', 'Satellogic  ', 'Planet Labs Inc.  ', 'BlackSky Global LLC  ', 'Google LLC  ', 'Telespazio Group  ', 'SI Imaging Services  ', 'Spaceknow Inc.  ', 'SkySat Technologies  ', 'Earth-i Ltd.  ', 'Scanex  ', 'Beijing Space View Technology Co., Ltd.  ', 'Antrix Corporation Limited'.

Growing demand for precise and clear satellite images across various industries is one of the reasons the market has grown. High-resolution data helps the military, agricultural, urban planning, and environmental monitoring take appropriate decisions. Since firms emphasize actionable insights and put a greater value on data, demand for advanced imaging continues to rise, and this is where innovation and growth in the market take place.

Integration of AI and Big Data Analytics: Integration of AI and Big Data Analytics: The most significant commercial satellite imaging market trends are big data analytics and artificial intelligence (AI). These technologies aid users to know insightful and faster information. This is by speeding the processing and analysis of huge volumes of satellite data. The demand for AI-driven solutions in satellite imaging will continue rising since businesses want to utilize data in support of strategic decision-making. 

North American commercial satellite imaging industry is expected to emerge as the highest due to its robust infrastructure and sophisticated technological capabilities. Innovations in satellite imaging technology were motivated by the existence of notable players in the industry, combined with significant investments into research and development. Government agencies and partnerships with private sector companies have also increased the availability and usability of data, including for instance military, agricultural, and environmental applications. Moreover, the developed legal infrastructure in the region should encourage the development of commercial satellite services. North America is expected to sustain its leading position in the market so long as there is an increasingly developing need for high resolution images and data analytics. 

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Global Commercial Satellite Imaging Market
Commercial Satellite Imaging Market

Report ID: SQMIG45A2074

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