Australia Earth Observation Market Worth US$ 71.36 Mn by 2030 – Astute Analytica
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Earth Observation is the process of using remote sensing technology to obtain data on the earth's chemical, biological, and physical systems. This data, gathered by imaging-equipped satellites, is used to track, measure, and comprehend the status of (and changes in) the natural and built environments.
Market Influencing Factors
The primary factor driving the Australia Earth Observation market include increased government spending and the deployment of cutting-edge technologies for remote sensing.
The deployment of cutting-edge technologies for remote sensing
Researchers and the government (both civil and military) utilize the majority of Earth Observation data in Australia. Public sector uses of Earth Observation data include weather forecasting, disaster management, wildfire management, and environmental management. Additionally, the utilization of cutting-edge remote sensing technologies, including Synthetic Aperture Radar (SAR) and electro-optical sensors, among others, is fueling market expansion.
Increased government spending
Additionally, the increased government spending will fuel the Australia Earth Observation industry. The Australian government presently spends about US$100 million annually on Earth Observation from space and related data processing, according to CSIRO. Additionally, the Australian government has partnered with Geoscience Australia, CSIRO, and the Bureau of Meteorology through international Earth Observation networks. For the first phase of a National Space Mission for Earth Observation, which would see Australia build, design, and operate four new satellites, the 2022–2023 Budget allocates US$ 1.16 billion until 2038–2039 and US$ 38.5 million annually continuing forward.
However, the limited presence of skilled labor may impede the market.
Segmentation Summary
In 2021, in terms of product type, the value-added services (VAS) segment accounted for a significant share of the Australia Earth Observation (EO) industry and is likely to remain dominant throughout the forecast years. In addition, in the value-added services segment, the remote sensing services segment recorded the share in 2021. Australia's public and private sectors have been using remote sensing technology's insights to comprehend, inform, and control the environment around us for decades. However, the Earth Observation (EO) data segment will project the highest growth rate from 2022 to 2027. Data is productivity's currency in the modern economy. Data is the driving force behind the EO sector. The Australian economy uses this data in many different ways, from boosting productivity in sectors like mining and agriculture to delivering societal benefits like disaster management and ecosystem monitoring.
In 2021, on the basis of technology, the Synthetic Aperture Radar (SAR) technology dominated the Australia Earth Observation industry and will register the highest annual growth rate over the analysis period. Broad-area imaging at high resolutions is necessary for military systems, earth resource mapping, and environmental monitoring. Synthetic Aperture Radar (SAR) offers this capability since it is frequently necessary to capture this imagery at night or during bad weather. SAR systems produce high-resolution imaging by utilizing the long-range properties of radar signals and the sophisticated information-processing capabilities of contemporary digital electronics. SAR is not constrained by the time of day, the atmosphere, or the particular ways that topography and cultural targets respond to radar frequencies. Additionally, SAR technology offers geologists information about the structure of the terrain for mineral exploration, environmentalists’ information about oil spill boundaries on the water, navigators’ information about the sea state and ice hazards, and military and intelligence operations reconnaissance and targeting data.
In 2021, on the basis of the end-use sector, the defense & intelligence segment held a maximum share in the Australia Earth Observation industry, and the segment will grow at the highest CAGR throughout the prediction course. Defense and security activities benefit from the force multiplier that Earth monitoring offers. Governments can concentrate efforts where they are most needed by using the data obtained. Instead of scouring wide areas with aircraft or land vehicles and their significant accompanying human resources, operators can pinpoint the targets of interest and deploy land, marine, and air assets to the proper locations.
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Leading Competitors
The leading prominent companies in the Australia Earth Observation market are:
Airbus
GO2Q PTY Ltd.
Ball Corporation
BlackSky Global
Lockheed Martin Corporation
BAE System
Surrey Satellite Technology Ltd.
Other Prominent Players
Key Strategies Adopted by these Players
In Nov 2022, Lockheed Martin and NVIDIA announced a partnership to create an AI-driven Earth Observation s Digital Twin. This would give the National Oceanic and Atmospheric Administration (NOAA) a consolidated and effective way to monitor the present state of the world's ecosystem, including extreme weather events.
In Nov 2022, BlackSky Technology Inc. received a US$ 10 million, one-year contract to offer on-demand, real-time high-resolution photography services to an Asian customer who works for a foreign ministry of defense. Given that BlackSky's on-demand photography tasking with low-latency delivery has become a crucial component of their everyday operations, both now and in the future, this contract marks a five-fold growth in capacity consumption by this client over the past year.
In Sept 2022, SSTL stated that it would open an office in Australia. The expansion of SSTL into Australia shows the company's dedication to further developing the know-how and competence of the Australian space industry. The Australia and United Kingdom "Space Bridge" Partnership, which promotes improved collaboration between these two countries space industries, has also made this easier.
In June 2022, Ball Aerospace successfully achieved a critical design review (CDR) for the Space Weather Follow On-Lagrange 1 (SWFO-L1) spacecraft of the National Oceanic and Atmospheric Administration (NOAA). Production, integration, and testing of the spacecraft will now get underway.
Segmentation Outline
The Australia Earth Observation market segmentation focuses on Product Type, Technology, and Sector.
By Product Type Segment
EO Data
Value-added Services [VAS]
o Remote sensing services
o Satellite monitoring services
By Technology Segment
Synthetic Aperture Radar (SAR)
Optical
Others (Non-Imagery, Infrared, RF Monitoring)
By Sector Segment
Agriculture & Forestry management
Insurance and Finance
Fisheries and aquaculture
Defense and Intelligence
Energy and natural resources
Industrial
Weather Monitoring
Disaster management
Others
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