Satellites are used by governments and private companies for many purposes. The following two reports explore the satellite market and where it's headed.
Satellites have roots dating back to the 1950s, during which the Soviet Union launched the world's first artificial satellite, the Sputnik 1. Other countries have also jumped on board, launching their own satellites into orbit. In fact, statistics show that more than 40 countries have launched roughly 6,600 satellites into orbit. Of those satellites, about half remain in orbit.
Just because a satellite is in orbit, however, doesn't necessarily mean that it's function. There are approximately 1,000 operational satellites in orbit, with the remaining being classified as space debris.
The Global Satellite Manufacturing and Launch Market 2015-2020 report by Wise Guy Reports is a comprehensive study on the world's satellite manufacturing and launch market. Researchers expect the market will grow at a compound annual growth rate (CAGR) of 5.32% through 2020, citing a "tremendous" increase in satellite applications. Up until recently, only a select number of countries had their own dedicated global positioning satellite systems. According to the report, however, more and more countries are launching and maintaining their own GPS systems. Furthermore, the increasing use of unmanned aerial vehicles and smart weapons has placed a constraint on existing satellite systems. In order to keep these systems operational, and improve upon them, countries are investing more heavily in the satellite manufacturing launch market.
The report cites Asia-Pacific as being the region to experience the fastest growth in the satellite manufacturing and launch market. More specifically, India and China will lead the market, investing heavily in satellite and associated components until 2020.
According to the Satellite-based EO Market in US 2016-2020 report by ReportsWeb, the satellite EO market is expected to grow at a CAGR of 9.37% through the forecast period. Covering both present scenarios and growth prospects, the report focuses on the gathering of information associated with Earth's system through the use of remote sensing satellites. It's used extensively by defense organizations, intelligence organizations, weather, agriculture, natural resources, engineering, construction, media, entertainment, and even tourism. To calculate the size of the satellite EO market, the report considers revenue generates from the sales of data and VAS.
This report also cites some challenges for the satellite EO market, some of which include a lack of standardization and policy-related issues. You'll have to check out the report, however, for a complete list of market drivers and challenges.
Some of the key satellite EO vendors profiled in this report include Airbus Group, DigitalGlobe, MDA, Planet Labs, BlackBridge Group (Planet Labs), BlackSky Global, GeoOptics, Geosys, PlanetiQ, Satellogic, Spire Global and others.
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