The global commercial satellite imaging market is expected to register a CAGR of 11% over the period of 2022-2028. Commercial satellite imagery is primarily related to the acquisition of images of the earth by satellites and is also known as earth observation. The use of these images for a variety of commercial purposes is known as commercial satellite imagery. The commercial satellite imaging market is growing at an influential rate and is anticipated to grow at a significant CAGR during the forecast period. Factors such as increasing usage of satellite imagery for commercial purposes like defense, agriculture, energy, and others and rising concerns about climatic changes, environmental degradation, and disaster monitoring are positively influencing the commercial satellite imaging market. The increasing applications of satellite imaging in deforestation monitoring is another factor contributing to the growth of this market. For instance, according to the Food and Agriculture Organization of the United Nations, between 2015 and 2020, the rate of deforestation was estimated at 10 million hectares per year. 

According to UnivDatos report “global commercial satellite imaging market”, the market is expected to witness robust growth during the forecast period (2022-2028). This is mainly due to the increasing usage of satellite imagery for commercial purposes like defense, agriculture, energy, and others and rising concerns about climatic changes.  

Based on application, the market is segmented into geospatial data acquisition, urban planning, disaster management, natural resource management, surveillance, defense & intelligence, and others. Among these, the defense & intelligence segment held a prominent share of the commercial satellite imaging market in 2020 and is expected to witness substantial growth during the forecast period. This is because satellite imagery provides geospatial data products and services to most government and defense agencies for a variety of applications where security concerns are paramount. 

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Based on end-user, the market is categorized into government, military & defense, forestry & agriculture, civil engineering, transportation, and others. The military & defense segment captured a noteworthy share of the global commercial satellite imaging market in 2020 and is anticipated to witness strong growth during the forecast period because the military & defense industry is a prominent buyer of geospatial intelligence and mapping services. 

North America to witness substantial growth 

North America accounted for a significant share of the global commercial satellite imaging market and is expected to grow at a steady growth rate during the forecast period. The growth of the commercial satellite imaging market in the region can be attributed to the increasing use of satellite imaging for security and surveillance purposes and the increasing investment of countries in the development of advanced satellite technology. Further on, the countries in the region are increasing their military budget, which is further impacting the commercial satellite imaging market in the region. For instance, U.S. military spending stood at USD 766.58 Bn in 2020, which increased to USD 801 Bn in 2021. 

According to UnivDatos, the key players with a considerable market share in the global commercial satellite imaging market are BlackSky Technology Inc., European Space Imaging GmbH, Galileo Inc., Harris Corporation, ImageSat International N.V., Maxar Technologies Inc., Planet Labs PBC, SpaceKnow Inc., Telespazio Spa, and UrtheCast Corp. along with partnerships have been undertaken by these players to boost their presence in different regions. 

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“Global Commercial Satellite Imaging Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.        

Market Segmentations: 

1. By Application (Geospatial Data Acquisition, Urban Planning, Disaster Management, Natural Resource Management, Surveillance, Defense & Intelligence, and Others) 
2. By End-User (Government, Military & Defense, Forestry & Agriculture, Civil Engineering, Transportation, and Others) 
3. By Region (North America (US, Canada, Rest of North America), Europe (Germany, France, Spain, UK, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific), Rest of World) 
4. By Company (BlackSky Technology Inc., European Space Imaging GmbH, Galileo Inc., Harris Corporation, ImageSat International N.V., Maxar Technologies Inc., Planet Labs PBC, SpaceKnow, Inc., Telespazio Spa, and UrtheCast Corp.) 

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