Commercial Satellite Imaging Market Size, Share, Growth Analysis, By Type(Optical Imagery and Radar Imagery), By End-User(Defense and Agriculture), By Region - Industry Forecast 2024-2031

Global Commercial Satellite Imaging Market size was valued at USD 5.1 billion in 2022 and is poised to grow from USD 5.78 billion in 2023 to USD 15.69 billion by 2031, growing at a CAGR of 13.3% during the forecast period (2024-2031).

The global market for commercial satellite imaging is predicted to experience significant growth during the projected period. Commercial satellite imaging plays a vital role in location-based services (LBS) and is particularly valuable in emergency response situations and natural disasters. The National Geospatial-Intelligence Agency (NGA) has a ten-year, USD 7.3 billion contract known as the EnhancedView program. This program involves GeoEye and DigitalGlobe, both U.S.-based companies, and aims to enhance imagery collection activities and revamp commercial satellite imaging infrastructure. The majority of these companies' revenues come from government contracts, which are expected to contribute to overall market revenue in the future. The market growth is anticipated to be driven by the increased use of satellite imaging for security purposes and the availability of broadband services to end users. Technological advancements and increased investments are expected to foster product innovation and overall market expansion. While only a few companies own imaging-equipped satellites, numerous firms provide software or software as a service (SaaS) integration solution. North America is projected to remain the largest regional market, with high-resolution satellite imaging playing a substantial role in non-military applications.