EO opportunities to grow in emerging markets

EO opportunities to grow in emerging markets

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France: According to a latest research report released by Euroconsult, a global consulting firm specialising in space markets, the number of Earth Observation (EO) satellite launches is expected to more than double over the next decade to 360 satellites. The report says that the emerging markets will be the major contributors to this growth.

The report titled ‘Satellite-Based Earth Observation: Market Prospects to 2022’says that the EO satellites launched by civil government and commercial entities will translate into $35.8 billion in manufacturing revenues over 2013 to 2022. This would mean an 88% increase over the previous decade. Organisations from more than 42 countries are expected to have launched at least a first-generation EO satellite by 2022. In total over 2013-2022, 69% of EO satellites will cost less that $100 million (compared to 56% in the last decade). These satellites may not have higher precision systems but they will assist in advancement of a local space industry in the emerging space nations. The percentage of high-cost ($200 million plus) satellite missions is expected to remain stable at 10% to 11%.

The report says that the EO commercial data market is expected to reach $3.5 billion by 2022. The market in emerging regions like Latin America, Russia & CIS, Asia, and the Middle East will witness steady growth. Defence will remain the first application area. Growth in natural resources monitoring and energy will remain robust due to regional economic growth. Location-based services sector will further foster growth through the thriving demand of data to assist Internet and hand-held devices.

Source: euroconsult-ec.com