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Global Earth Observation Systems Market Is Expected To Grow At A Cagr Of Approximately 9% Over The Next Decade

North America accounts for a majority market share in earth observation systems, followed by Europe. This is due to its highly developed space technology such as reusable rockets. Also, the main use of earth observation systems is defence, which is another reason for North America’s dominance of the global market. Key players are functioning actively and investing heavily in infrastructure development, resulting in increased data efficiency, reliability, and flexibility. Advancements in technological architecture are critical to market expansion.

As per a revised report published by Fact.MR, the earth observation system (EOS) market is anticipated to surpass US$ 5 Bn valuation in 2021, and is poised to expand at a CAGR of around 9% over the next ten years.

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Key Takeaways from Market Study

“Investments infrastructure applications can be highly beneficial to EOS suppliers over the coming years,”says a Fact.MR analyst.

Key Market Segments Covered

How Big are the Opportunities in Aerospace & Earth Observation?

Advancements in space and rocket technology along with the use of reusable rockets have brought many opportunities for the aerospace market. With the help of reusable satellites, the cost of satellite launches has reduced significantly. Before these, the cost of a satellite launch was nearly US$ 200 Mn, but after reusable rockets, it came down to US$ 60 Mn. With this decline in the prices of satellite launches, opportunities for earth observation systems escalated.

Nowadays, mass production of satellites has become a trend in the aerospace domain. With the adoption of mass production of satellites, cost of manufacturing a satellite has been significantly reduced. Initially, the cost of individual manufacturing per satellite was nearly in the range of US$ 500 Mn. With the help of mass production, it is estimated to be US$ 500,000 per satellite. Through these analytics of cost per manufacturing satellite and mass production of satellites, EOS manufacturers are expected to come across lucrative opportunities over the coming years

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