REDDING, Calif., Oct. 3, 2024 /PRNewswire/ — According to a new market research report titled ‘Satellite Imaging Market by Offering, Application (Surveillance & Reconnaissance, Navigation, Environmental Conservation, Disaster Response), Sector (Government, Energy & Mining, Environment & Climate, Insurance)—Global Forecast to 2031.

The satellite imaging market is projected to reach $8.6 billion by 2031, at a CAGR of 13.8% from 2024 to 2031
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The growing demand for geospatial information, increased use of satellite data for defense and security, expanding applications of satellite imaging in agriculture and forestry, rising adoption in urban planning, and heightened utilization in airport mapping are key factors driving the growth of the satellite imaging market. However, the stringent regulatory frameworks are restraining the growth of this market.
Furthermore, the growing use of satellite imaging for environmental monitoring and the increasing adoption of satellite imagery in wildlife conservation & ecology applications are expected to generate growth opportunities for the players operating in the market. However, data security concerns and atmospheric interference are major challenges impacting market growth.
INCREASING USE OF SATELLITE IMAGING IN AGRICULTURE & FORESTRY SUPPORTING MARKET GROWTH
The integration of satellite imaging into agricultural and forestry practices enhances productivity and promotes more sustainable and environmentally conscious approaches within these sectors. In agriculture, satellite imagery offers critical insights into crop health and growth, enabling farmers to identify potential issues early, such as nutrient deficiencies or crop diseases, and take corrective actions. This technology supports precision agriculture at scale, even in regions with frequent cloud cover, by facilitating targeted interventions that lead to improved yields and resource management. Additionally, satellite imagery aids in tracking weather patterns across large areas, empowering farmers to make informed decisions about planting and harvesting while better preparing for weather-related risks such as floods or droughts.
In forestry, satellite imaging enables forest managers and timber operators to optimize management practices, ensuring productivity while maintaining environmental stewardship and compliance with land use regulations. This technology allows for visibility through dense smoke from wildfires to locate flames and hot spots. It also helps identify wildlife hotspots and map species movements, enhancing the understanding of connectivity within their changing territories across borders. Additionally, satellite imaging assists in tracking and identifying illegal deforestation, assessing forest health, monitoring changes in land cover, and improving overall forest management practices.
Some of the key recent developments in this space are as follows:
In July 2024, Axelspace Corporation (Japan) partnered with the Maldives Space Research Organization (MSRO) to deliver satellite imagery covering the entire Maldives, which comprises 1,192 islands across 871 kilometers. The imagery, sourced from GRUS satellites equipped with red-edge spectral bands, will facilitate detailed observation and analysis of vegetation health. This initiative aims to assist the MSRO in supporting the current government’s efforts to enhance food security by improving the monitoring of farmland, crop health, and biodiversity.In January 2024, EOS Data Analytics, Inc. (U.S.) successfully launched EOS SAT-1, the first satellite in the EOS SAT constellation focused on agriculture, into low Earth orbit using SpaceX’s Falcon 9 rocket from Cape Canaveral Space Force Station in Florida. This constellation will support the implementation of sustainable agricultural practices and environmental monitoring of forestlands by providing high-quality data for analysis. Additionally, it will assist agribusinesses in monitoring crop growth and detecting issues such as heat stress, cold stress, water stress, weed spread, pest attacks, and other threats to crops.These factors, along with the increasing use of satellite imaging to identify trends, plan resource allocation effectively, and mitigate risks associated with environmental changes, are supporting the growth of the satellite imaging market.
Satellite Imaging Market Analysis: Key Findings
By Offering: In 2024, the solutions segment is expected to account for the largest share of 60.8% of the satellite imaging market. However, the services segment is poised to register the highest CAGR of 13.1% during the forecast period from 2024 to 2031.
By Application: In 2024, the surveillance & reconnaissance segment is expected to account for the largest share of 30.0% of the satellite imaging market. However, the disaster response & aid planning segment is poised to register the highest CAGR of 16.6% during the forecast period from 2024 to 2031.
By Sector: In 2024, the government & defense segment is expected to account for the largest share of 41.2% of the satellite imaging market. However, the environment & climate segment is poised to register the highest CAGR of 15.1% during the forecast period from 2024 to 2031.
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Geographic Analysis:
By geography, the satellite imaging market is segmented into North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa. In 2024, North America is expected to account for the largest share of 42.6% of the satellite imaging market. This market is projected to reach $3,517.0 million by 2031.
The growth of this market is attributed to the high adoption of data-driven methods in business operations, increasing demand for high-resolution imagery services, rapid advancements in analytics, AI, and machine learning, the presence of leading industry players, and a growing demand for geospatial information.
North America stands as one of the most technologically advanced regions and a hub of innovation, boasting the highest installed base of satellite imaging across diverse industry verticals. Key factors driving market growth in this region include the availability of robust supporting infrastructure, advancements in satellite imaging technology, and rising demand for high-resolution imagery in the U.S. and Canada.
In addition, business enterprises in North America, including prominent technology companies such as Maxar Technologies Holdings Inc. (U.S.), Satellite Imaging Corporation (U.S.), EOS Data Analytics, Inc. (U.S.), EarthDaily Analytics Corp. (Canada), and Orbital Insight, Inc. (U.S.), are increasingly advocating for the integration of satellite imaging solutions and services. For example, in May 2022, Maxar Technologies Holdings Inc. announced that the National Oceanic and Atmospheric Administration (NOAA) had modified its remote sensing license to allow for non-Earth imaging (NEI) capabilities for both its current constellation and next-generation WorldView Legion satellites. This new license enables Maxar to collect and distribute images of space objects in Low Earth Orbit (LEO), ranging from 200 to 1,000 kilometers in altitude, to both government and commercial customers.
Moreover, enterprises are focusing on transforming their satellite imaging models by adopting advanced analytics, AI, and machine learning technologies. Integrating these innovations enhances operational efficiency, further propelling the growth of the satellite imaging market in North America.
Asia-Pacific: The Fastest-growing Regional Market
The satellite imaging market in Asia-Pacific is projected to register the highest CAGR of 15.0% during the forecast period. In 2024, China is expected to account for the major share of 58.8% of the market. The growth of the satellite imaging market is primarily driven by rapid advancements in satellite technology, increasing demand for imaging across various applications—including urban planning and infrastructure development—and the rising need for satellite mapping services in smart agriculture.
Asia-Pacific is projected to be the fastest-growing market for satellite imaging globally. Countries such as China, Japan, India, and South Korea are experiencing significant advancements in satellite technology and are making substantial investments in this sector. The growing demand for satellite imaging in applications such as urban planning, infrastructure development, agriculture, and disaster management is further propelling market growth in the APAC region.
Furthermore, satellite imaging plays a crucial role in Asia-Pacific’s agriculture sector, offering valuable insights and tools to enhance productivity, sustainability, and resource management. In countries such as Indonesia and Malaysia, satellite imagery is used to monitor deforestation and its impacts on agricultural land. Satellite imagery is crucial for managing sustainable agricultural practices.
Market players are increasingly focusing on partnerships to develop advanced offerings, thereby supporting market growth. For example, in October 2023, ICEYE (Finland) partnered with Suhora Technologies Pvt. Ltd. (India), a prominent software and geospatial intelligence company. This collaboration marked one of the largest radar satellite imagery agreements in Asia, enabling Suhora to access ICEYE’s high-quality satellite imagery of any location on the planet and provide users with enhanced monitoring and analytical geospatial solutions. Additionally, in August 2022, KT SAT (South Korea) signed a Memorandum of Understanding with Ursa Space Systems (U.S.) to deliver satellite imagery and geospatial insights for the Asia-Pacific region. Such developments are anticipated to further propel the growth of the satellite imaging market in Asia-Pacific.
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Satellite Imaging Market: Competition Analysis
This report offers a competitive analysis based on an extensive assessment of the leading players’ product portfolios, geographic presence, and key growth strategies adopted over the past three to four years. Major companies in the satellite imaging market have implemented various strategies to expand their product offerings and global footprints and augment their market shares. The key strategies followed by most companies in the satellite imaging market were product launches, expansions, mergers & acquisitions, agreements, collaborations, and partnerships. The key players operating in the satellite imaging market include Maxar Technologies Holdings Inc. (U.S.), Airbus SE (Netherlands), Lockheed Martin Corporation (U.S.), L3Harris Technologies, Inc. (U.S.), BlackSky Technology Inc. (U.S.), SpaceKnow, Inc. (U.S.), Satellite Imaging Corporation (U.S.), Capella Space Corp. (U.S.), EOS Data Analytics, Inc. (U.S.), Telespazio UK Ltd (U.K.), Arlula Pty Ltd (Australia), ICEYE (Finland), Remote Sensing Technology Center of Japan (RESTEC) (Japan), Shoghi Communications Ltd. (India), Planet Labs PBC (U.S.), European Space Imaging GmbH (Germany), EarthDaily Analytics Corp. (Canada), SatSure Analytics India Pvt Ltd (India), RMSI Pvt. Ltd. (India), Trimble Inc. (U.S.), Satellogic Inc. (U.S.), and Spire Global, Inc. (U.S.).
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Satellite Imaging Industry Overview: Latest Developments from Key Industry Players
In May 2024, Maxar launched ClimateDesk, a platform designed to transform enhanced climate data into actionable insights for customers, thereby improving decision-making and facilitating long-term planning.In May 2024, Maxar signed a contractual agreement with Lockheed Martin Corporation (U.S.) to provide Maxar’s geospatial products for the F-35 Full Mission Simulator (FMS) flight simulation and training system.In February 2024, Capella partnered with TCarta (U.S.), a global leader in hydrostatic products and services, to integrate high-resolution SAR satellite imagery into TCarta’s coastal monitoring and shoreline feature extraction solutions. This collaboration enhances the capability to consistently and reliably identify changes along coastlines, equipping coastal managers with accurate and timely information to effectively address the impacts of climate change.In January 2024, Capella partnered with Floodbase (U.S.), a leading data provider and reporting agent for parametric flood insurance, to integrate high-resolution SAR satellite data into Floodbase’s comprehensive solution. This collaboration enhances the certification of payout triggers for parametric insurance by accurately capturing the extent of flooding with high resolution, regardless of cloud cover.In May 2023, Advent International Corporation (U.S.) and British Columbia Investment Management Corporation (BCI) (Canada) acquired Maxar to enhance their capacity to deliver both long- and short-term mission-critical technology and solutions to customers.In May 2023, Capella partnered with LiveEO (Germany), a leading provider of Earth observation analytics and solutions for monitoring high-value infrastructure and energy assets. As the inaugural certified Capella Analytics Partner, LiveEO will integrate Capella’s all-weather, 24/7 SAR imagery into its advanced analytics platform. This collaboration will enhance the monitoring of assets such as railways, buildings, pipelines, and other infrastructure, delivering timely insights for disaster response and management.In March 2023, L3Harris signed a contractual agreement with NASA valued at USD 765 million to design and develop a high-resolution imager for NOAA’s Geostationary Extended Observations (GeoXO) satellite system. The GeoXO Imager will provide advanced visible and infrared imagery, enhancing precise observations and improving water vapor measurements. This development is expected to significantly improve the accuracy and timeliness of weather forecasting across the Western Hemisphere.In January 2023, Satellogic collaborated with Tata Advanced Systems Limited (India) to establish and develop local space technology capabilities in India, with a focus on manufacturing satellites and developing imagery for national defense and commercial applications.In January 2023, Maxar signed a contractual agreement with the National Geospatial-Intelligence Agency (NGA) to provide up to USD 35.8 million in funding and deliver an advanced application programming interface (API) for NGA’s Foundation Program. This API will enable NGA to query, discover, and download products from Maxar’s extensive 125-petabyte high-resolution commercial imagery archive.In December 2022, ICEYE signed a multi-year framework contract with the European Maritime Safety Agency (EMSA) to support their efforts in managing various aspects of maritime operations with SAR data.In May 2021, ICEYE collaborated with Neptune Flood (U.S.), the first AI-driven flood insurance company to provide fast and easy flood insurance. As part of the collaboration, ICEYE will provide Neptune Flood with high-resolution flood hazard data in the immediate aftermath of a flood event to enable monitoring of Neptune’s insured geolocations for micro changes in water depths around properties.IMMEDIATE DELIVERY AVAILABLE | BUY THIS RESEARCH REPORT (Insights, Charts, Tables, Figures and More) -https://www.meticulousresearch.com/view-pricing/1058
Scope of the Report:
Satellite Imaging Market Assessment—by Offering
SolutionsServicesSatellite Imaging Market Assessment—by Application
Surveillance & ReconnaissanceEnvironmental Conservation & ResearchInfrastructure Planning & MonitoringAgricultural PlanningWeather ForecastingDisaster Response & Aid PlanningForestry Monitoring & ManagementNavigationOther ApplicationsSatellite Imaging Market Assessment—by Sector 
Government & DefenseEnvironment & ClimateAgriculture, Forestry and FisheriesEnergy & MiningFinance & InsuranceTransportation & LogisticsOther SectorsSatellite Imaging Market Assessment—by Geography
North America
 U.S.CanadaAsia-Pacific
ChinaJapanIndiaSouth KoreaRest of Asia-Pacific
Europe
U.K.GermanyFranceItalySpainRest of EuropeLatin America
Middle East & Africa
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Satellite Imaging Market Research Summary
Particulars
Details
Number of Pages
177
Format
PDF
Forecast Period
2024–2031
Base Year
2023
CAGR (Value)
13.8 %
Market Size (Value)
USD 8.6 Billion by 2031
Segments Covered
By Offering
SolutionsServicesBy Application
Surveillance & ReconnaissanceEnvironmental Conservation & ResearchInfrastructure Planning & MonitoringAgricultural PlanningWeather ForecastingDisaster Response & Aid PlanningForestry Monitoring & ManagementNavigationOther ApplicationsBy Sector
Government & DefenseEnvironment & ClimateAgriculture, Forestry and FisheriesEnergy & MiningFinance & InsuranceTransportation & LogisticsOther SectorsCountries Covered
North America (U.S., Canada), Europe (Germany, U.K., Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific), Latin America Middle East & Africa
Key Companies
Maxar Technologies Holdings Inc. (U.S.), Airbus SE (Netherlands), Lockheed Martin Corporation (U.S.), L3Harris Technologies, Inc. (U.S.), BlackSky Technology Inc. (U.S.), SpaceKnow, Inc. (U.S.), Satellite Imaging Corporation (U.S.), Capella Space Corp. (U.S.), EOS Data Analytics, Inc. (U.S.), Telespazio UK Ltd (U.K.), Arlula Pty Ltd (Australia), ICEYE (Finland), Remote Sensing Technology Center of Japan (RESTEC) (Japan), Shoghi Communications Ltd. (India), Planet Labs PBC (U.S.), European Space Imaging GmbH (Germany), EarthDaily Analytics Corp. (Canada), SatSure Analytics India Pvt Ltd (India), RMSI Pvt. Ltd. (India), Trimble Inc. (U.S.), Satellogic Inc. (U.S.), and Spire Global, Inc. (U.S.).
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MONTREAL, Oct. 3, 2024 /PRNewswire/ — SEGULA Technologies, a global engineering group, announces the opening of a new office in Toronto, Ontario. This new facility is part of the Group’s strategy to consolidate and accelerate its development in North America, where its activities have experienced exceptional growth, with business volumes doubling in just one year.

With over 50 employees in Ontario, SEGULA Technologies is now even closer to its major customers in the automotive and rail sectors. This proximity will enable the Group to respond more effectively to the needs of manufacturers and equipment suppliers, while contributing to the dynamism of technological development in key areas such as the electrification of vehicles and new forms of mobility.
A key player in the transition to electric vehiclesAt a time when the automotive industry is reinventing itself at breakneck speed, SEGULA Technologies is playing a central role in supporting major carmakers and automotive suppliers. The Group is heavily involved in electromobility projects, such as the integration of battery packs into vehicles, as well as the development of advanced driver assistance systems (ADAS), contributing to the industry’s transformation towards cleaner, smarter vehicles.
Adrien Guillemin, Director of the Americas region at SEGULA Technologies, explains: “The switch to electric vehicles represents a major technical challenge for the automotive industry. It requires a whole specific production ecosystem. SEGULA is ideally positioned to support the Canadian market, and North America as a whole, in this crucial transition, thanks to its expertise in all areas of the automotive supply chain.
A strategy of sustained growth in North AmericaThe opening of this new office in Toronto is fully in line with SEGULA Technologies’ expansion strategy in North America. Faced with rapid growth in its engineering and production support activities, the Group is continuing to strengthen its infrastructure to support this dynamic. Following the inauguration of its new head office in Detroit on 17 September, SEGULA will continue its development with the opening of new facilities in the United States, Canada and Mexico, confirming its long-term commitment to the North American market.
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First-of-its-Kind Solution Enables Overseas Entities to Authenticate and Verify Chinese IDs
PETALING JAYA, Malaysia, Oct. 3, 2024 /PRNewswire/ — Zetrix, a layer-1 public blockchain platform, today launched a first-of-its-kind application that enables official identities of Chinese nationals (“Chinese Digital IDs”) to be authenticated and verified digitally overseas, paving the way for a seamless, efficient, and secure verification process for verifiers and identity holders. 

Through the ZCert service, Zetrix now simplifies and facilitates electronic Know Your Customer (“eKYC”) processes for entities outside of China wishing to verify the authenticity of information contained in the Digital IDs presented to them by Chinese nationals. 
This pioneering service has been made possible through Zetrix’s unique integration to China’s national public blockchain Xinghuo BIF. 
Chinese nationals can choose to publish their Digital IDs on Xinghuo BIF and upon doing so, the data can then be accessed by verifying entities outside of China through the ZCert service on Zetrix, which operates the Xinghuo International Supernode, known as Astron.
“We are truly excited about the introduction of this cross-border Digital ID service as it enables a new wave of services powered by smart contracts. KYC processes can now be a simplified and automated process. Furthermore, user data is retained by users at all times and only critical information is shared in an encrypted manner,” said TS Wong, co-founder of Zetrix.
“Payments on Web 3 platforms can now be executed fully in compliance with existing rules. Our Chinese Digital ID application combined with Malaysia’s National ID and WorldID and future sovereign IDs, makes ZCert the most comprehensive global Digital ID solution,” he added. 
“Creating cross-border trust is of great importance, especially the verification of digital identity, credentials and documents. We would like to create a trusted data channel, together with MYEG, to facilitate the international cooperation between China and Malaysia and the rest of the world in the digital age,” said Xiaoyu You, Head of International Cooperation Department of the Institute of Industrial Internet & IoT, China Academy of Information and Communications Technology (“CAICT”), which is responsible for the development, execution and implementation of Xinghuo BIF.
Leveraging on the unparalleled advantages of blockchain technology, the new ZCert service provides a more advanced, convenient, reliable and secure method of verifying identity information in real-time, thus bringing a more pleasant overall experience to identity holders and verifying entities alike when compared with conventional credential verification methods. 
The immutability of blockchain means verifiers will be able to confirm that National IDs issued and accessed through the Xinghuo-Zetrix collaboration are authentic, genuine and have not been altered. This may not be the case for conventional ID cards, whether in their physical or digital image forms, as these may be subject to tampering, fraud, or forgery using image editing tools, and verifiers have no immediate, trustworthy method to assess their authenticity.  
Furthermore, the new National ID verification service on ZCert takes full advantage of the Self-Sovereign Identity framework within Web3 technology, enabling identity holders to selectively disclose relevant information such as name or home address without having to share other non-relevant personal data, hence ensuring improved privacy protection. In contrast, the use of conventional ID cards in their static physical or digital image forms does not provide similar safeguards as all information are static and already openly displayed. 
In addition, a significant advantage of opting for the use of verifiable digital IDs is that since they are dynamic in nature, user data can be updated by authorised issuers to reflect the most current personal information of the holder, ensuring precision and accuracy. 
The launch of the Chinese Digital IDs verification facility is the latest innovation on ZCert and comes just months after it introduced a service for Chinese driving licences to be digitised and accessed overseas for verification purposes.
It is expected that the ZCert cross-border credentials verification service will be progressively expanded in the coming months to include other documents of critical importance to individuals and businesses.
More information on ZCert is available at https://www.zetrix.com/zcert/
About ZetrixZetrix is a layer-1 public blockchain that facilitates smart contracts and delivers privacy, security and scalability. Zetrix’s cryptographic infrastructure can be introduced to multiple industries to connect governments, businesses and their citizens to a global blockchain-based economy. Developed by MY E.G. Services Bhd, the cross-border and cross-chain integration with China enables Zetrix to serve as a blockchain gateway that facilitates global trade by deploying critical building blocks for Web3 services such as Blockchain-based Identifiers (BID) and Verifiable Credentials (VC).
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