KSA Satellite Imagery Services Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 71.91 Million |
| Market Size (2029) | USD 126.79 Million |
| CAGR (2024 - 2029) | 12.01 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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KSA Satellite Imagery Services Market Analysis
The KSA Satellite Imagery Services Market size is estimated at USD 71.91 million in 2024, and is expected to reach USD 126.79 million by 2029, growing at a CAGR of 12.01% during the forecast period (2024-2029).
The KSA satellite imagery services market is driven by the increasing demand for satellite imagery services in various applications, increasing support from the government to boost the country's space sector and increasing demand among end-user industries.
- There has been a growing interest in the space sector in Saudi Arabia in the past few years, led by the increasing investments by the country's government to strengthen the space sector. Further, the expanding presence of global market vendors, the emergence of local satellite imagery services market vendors, coupled with the growing launches of satellites to gather high-quality and high-resolution satellite images in the Kingdom are driving the satellite imagery services market.
- Further, the KSA satellite imagery services market is majorly driven by the King Abdulaziz City for Science and Technology (KACST) efforts and initiatives in the past few years. The organization has partnered with various satellite imagery services market vendors in the past and indulged in earth observation satellite launches to gather high-resolution satellite images. Additionally, the Kingdom of Saudi Arabia's Communications, Space, and Technology Commission (CST) is including the promotion and entry of global satellite operators in line with Saudi Vision 2030, which is expected to drive the market's growth in the coming years.
- Furthermore, in line with the Kingdom's Vision 2030, government space organizations are making significant strides in launching satellites for various applications using satellite imagery, thus positively impacting the growth of the studied market. For instance, developed by King Abdulaziz City for Science and Technology (KACST), the Saudi Sat-5 satellites provide high-resolution images of the planet's surface from low-Earth orbit to help KSA with urban planning, monitoring movements and changes on the Earth's surface and provide Saudi government agencies with services, in particular with high-resolution satellite imagery.
- Moreover, satellite constellations are now providing vast volumes of high-resolution satellite images. The increasing volume of satellite imagery data is driving the need for artificial intelligence (AI) assisted and advanced solutions. Market vendors in the region are analyzed to increase the adoption of advanced technologies such as big data and artificial intelligence for satellite imagery analytics. Such factors further expand the growth of the KSA satellite imagery services market in the coming years.
KSA Satellite Imagery Services Market Trends
Natural Resource Management Segment is Expected to Witness Significant Growth
- Saudi Arabia holds a significant amount of natural resources, notably oil. The Kingdom has been a leading exporter of oil ever since oil was discovered in 1938. Moreover, Saudi Arabia's size and geology make it rich in oil, minerals, gas, and key raw materials for manufacturing and industrial development. Saudi Arabia has the largest mineral deposits in the Middle East. As the demand for natural resources continues to grow, the need for efficient and sustainable management becomes increasingly important, thus, driving the demand for satellite imagery services.
- Further, using satellite imagery services in natural resource management offers a wealth of opportunities for improving efficiency and sustainability. As satellite technology advances and the ability to process and analyze the vast amounts of satellite data generated by these systems improves, the potential for satellite imagery services to revolutionize how the country manages its natural resources will only continue to grow. Thus, positively indicating the growth in demand for satellite imagery services in the coming years.
- Furthermore, the oil sector in the country is continuously evolving, with the companies witnessing a significant jump in crude oil production. Satellite imagery can detect and monitor oil spills, track the movement of oil slicks, and assess the extent of environmental damage caused by such incidents. For instance, according to the data from Saudi Arabian public petroleum and natural gas company Saudi Aramco, it reported a crude oil production volume of 10.62 million barrels per day in 2023. The company has one of the largest crude oil reserves worldwide.
- Moreover, various advantages associated with satellite imagery services for natural resource management, such as their ability to provide comprehensive, near real-time data on a wide range of parameters, such as land use, vegetation cover, water resources, and atmospheric conditions, are expected to expand the use of satellite imagery services in the Kingdom. This information can monitor ecosystems' health and productivity and support decision-making processes related to resource extraction, infrastructure development, and conservation efforts.
Military and Defense Segment is Expected to Witness Substantial Traction
- The military and defense segment is analyzed to witness significant traction in the coming years owing to the increasing use of very high-resolution satellite imagery to gain unparalleled access to critical locations, monitor infrastructure and effectively plan missions. Further, satellite imagery helps military and defense agencies with valuable insights and advanced datasets for more informed decision-making, thus analyzed to gain significant attraction in the coming years.
- Additionally, the development of technologically advanced, high-resolution capacity satellites by the major market vendors is further expanding the use of satellite imagery services in the country's military and defense sector. Moreover, the use of big data and analytics is growing in helping experts in their work of searching for information and clues on satellite images but also allows them to improve the analysis of activity on pre-selected geographical sites of interest.
- Additionally, KSA is continuously strengthening its military and defense sector with the yearly growth in budgets. The country spends a significant percentage of gross domestic product (GDP) on its military, thus creating considerable growth opportunities for the satellite imagery services market vendors in the coming years. For instance, according to the data from (Stockholm International Peace Research Institute) SIPRI, Military expenditure as a percentage of gross domestic product (GDP) in Saudi Arabia was 7.1% in 2023.
- Moreover, market vendors operating in Saudi Arabia, such as Thales, Airbus, and Northstar Saudi Arabia, continuously focus on offering high-quality and high-resolution satellite images to the end users. The very high resolution (VHR) enables recognizing, identifying, and detecting assets or targets in every smallest detail. Furthermore, satellite imagery services help the armed forces and defense intelligence agencies benefit from accurate terrain information to effectively prepare for their missions and understand the situation more accurately.
KSA Satellite Imagery Services Industry Overview
The KSA satellite imagery services market is moderately consolidated owing to a few major market vendors holding significant market shares. The market players in the region are indulging in partnership and acquisition activities to expand their market share. A few major market vendors operating in the KSA satellite imagery services market include Airbus, Thales, Space Imaging Middle East, Northstar Saudi Arabia, and Leonardo S.P.A., among others.
In February 2022, Maxar Technologies, a provider of comprehensive space solutions and secure, precise geospatial intelligence, announced a new five-year partnership with Space Imaging Middle East and European Space Imaging, strategic partners serving consumers in Europe, the Middle East, and Northern Africa. Space Imaging Middle East (SIME) and European Space Imaging provide Maxar high-resolution satellite imagery to a broad spectrum of government and commercial organizations for disaster response, border security, and agriculture applications.
KSA Satellite Imagery Services Market Leaders
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Airbus
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Thales
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Northstar Saudi Arabia
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Space Imaging Middle East
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Leonardo S.p.A.
*Disclaimer: Major Players sorted in no particular order
KSA Satellite Imagery Services Market News
- August 2023 - Satellogic signed an agreement with Quant Data & Analytics, a Saudi data solutions provider for real estate and retail sectors. Quant Data & Analytics plans to use Satellogic's high-resolution satellite imagery to serve the property tech landscape in Saudi Arabia and the Gulf region.
- April 2023 - King Abdullah University of Science and Technology (KAUST) launched a CubeSat nanosatellite in partnership with space-to-cloud data and analytics firm Spire Global. The satellite will collect high-resolution and high-quality data across the global terrestrial, coastal, and ocean ecosystems to assist Saudi Arabia in monitoring its natural resources. Besides providing enhanced Earth observation capabilities, the newly launched satellite will yield data on protecting and restoring the environment.
KSA Satellite Imagery Services Market Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
- 4.1 Market Overview
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4.2 Industry Attractiveness - Porter's Five Forces Analysis
- 4.2.1 Bargaining Power of Buyers
- 4.2.2 Bargaining Power of Suppliers
- 4.2.3 Threat of New Entrants
- 4.2.4 Threat of Substitutes
- 4.2.5 Intensity of Competitive Rivalry
- 4.3 Industry Value Chain Analysis
- 4.4 Assessment of the Impact of COVID-19 on the Market
5. MARKET DYNAMICS
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5.1 Market Drivers
- 5.1.1 The Growth in the KSA Government's investment in the space sector In Line With Saudi Vision 2030
- 5.1.2 Adoption of Big Data and Imagery Analytics
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5.2 Market Restraints
- 5.2.1 High Cost of Satellite Imaging Data Acquisition and Processing
6. MARKET SEGMENTATION
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6.1 By Application
- 6.1.1 Geospatial Data Acquisition and Mapping
- 6.1.2 Natural Resource Management
- 6.1.3 Surveillance and Security
- 6.1.4 Conservation and Research
- 6.1.5 Disaster Management
- 6.1.6 Intelligence
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6.2 By End-User
- 6.2.1 Government
- 6.2.2 Construction
- 6.2.3 Transportation and Logistics
- 6.2.4 Military and Defense
- 6.2.5 Forestry and Agriculture
- 6.2.6 Others
7. COMPETITIVE LANDSCAPE
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7.1 Company Profiles
- 7.1.1 Airbus
- 7.1.2 Thales
- 7.1.3 Space Imaging Middle East
- 7.1.4 Northstar Saudi Arabia
- 7.1.5 Leonardo S.p.A.
- 7.1.6 Soar.Earth Ltd.
- 7.1.7 NOVAsat
- 7.1.8 Serco
- 7.1.9 FalconViz
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityKSA Satellite Imagery Services Industry Segmentation
Satellite imagery refers to images of the Earth taken from satellites orbiting the planet. These satellites are equipped with various sensors for detecting visible light, infrared light, microwave radiation, and more to craft high-resolution images. These images combine to create visual representations of the Earth, providing new perspectives on climate, geography, and manmade structures.
The KSA satellite imagery services market is segmented by application (geospatial data acquisition and mapping, natural resource management, surveillance and security, conservation and research, disaster management, and intelligence), by end-user (government, construction, transportation and logistics, military and defense, forestry and agriculture, and other end users). The market sizes and forecasts are provided in terms of value USD for all the above segments.
| By Application | Geospatial Data Acquisition and Mapping |
| Natural Resource Management | |
| Surveillance and Security | |
| Conservation and Research | |
| Disaster Management | |
| Intelligence | |
| By End-User | Government |
| Construction | |
| Transportation and Logistics | |
| Military and Defense | |
| Forestry and Agriculture | |
| Others |
KSA Satellite Imagery Services Market Market Research Faqs
How big is the KSA Satellite Imagery Services Market?
The KSA Satellite Imagery Services Market size is expected to reach USD 71.91 million in 2024 and grow at a CAGR of 12.01% to reach USD 126.79 million by 2029.
What is the current KSA Satellite Imagery Services Market size?
In 2024, the KSA Satellite Imagery Services Market size is expected to reach USD 71.91 million.
Who are the key players in KSA Satellite Imagery Services Market?
Airbus, Thales, Northstar Saudi Arabia, Space Imaging Middle East and Leonardo S.p.A. are the major companies operating in the KSA Satellite Imagery Services Market.
What years does this KSA Satellite Imagery Services Market cover, and what was the market size in 2023?
In 2023, the KSA Satellite Imagery Services Market size was estimated at USD 63.27 million. The report covers the KSA Satellite Imagery Services Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the KSA Satellite Imagery Services Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
KSA Satellite Imagery Services Market Industry Report
Statistics for the 2024 KSA Satellite Imagery Services market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. KSA Satellite Imagery Services analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
