Market Trends of Russia Satellite Imagery Services Industry
The country's Investments in Space Technology and Defence Drives the Market Growth
- Russia's budgetary planning for civilian and military space programs has changed due to the restriction in space cooperation with the United States and Europe due to the war with Ukraine, and the country has been prioritizing the launch of its satellite systems, fueling the growth of Russian region satellite constellations. It may drive the opportunity for regional satellite imagery service providers in the country.
- Additionally, in October 2022, the country's three significant rockets, such as the Soyuz, Proton, and Angara, launched on missions to deploy a Russian navigation satellite, an Angolan communications spacecraft, and a secret military spy payload, which shows the country's initiatives and priority in strengthening its satellite ecosystem, which would fuel the market for satellite imagery services in Russia.
- The demand for satellite Imagery services in the country has increased due to its active defense activities in the war with Ukraine, and global satellite imagery service providers are offering Russia's war-related imagery to drive the attention of NATO. Similarly, Russian players are releasing satellite-based war images to support the country's military intelligence, creating market growth opportunities during the forecast period.
- Satellite-based imagery services have become a significant tool in military and defense operations, providing strategic advantages to the country's warfare and national security. The ability to capture high-resolution images of Earth from space has opened up new possibilities for intelligence gathering, surveillance, reconnaissance, and even tactical decision-making, creating an opportunity for market growth in Russia supported by the country's ongoing WAR.
- Additionally, in May 2023, according to the Federal Treasury's online budget portal, Russia spent USD 26 billion on defense in January and February of 2023 alone, a 282% jump in the same period of 2022, which shows the country's increasing investment in the defense sector, which can support the satellite imagery service market in Russia due to its broad application in the defense and military sector.
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Natural Resource Management Application Contributes a Significant Portion in the Market Share
- Russia has a significant amount of natural gas reserves, and the proper monitoring of this natural resource in the country can be done through satellite images, which creates an opportunity for the satellite imagery service providers in the country during the forecast period.
- Satellite data can be used to identify potential new oil and gas reserves and monitor the extraction and transportation of these resources, ensuring that the industry operates safely and sustainably, which is driving the usage of satellite imagery services to trace new natural gas reserves in Russia, supporting the market growth.
- The country has been launching satellites for natural resource management, which would drive market growth in this sector in Russia during the forecast period. For instance, in May 2023, Russia launched its Condor-FKA satellite, developed by the military-industrial corporation Scientific and Production Association of Mechanical Engineering of the country, which can take pictures of the Earth's surface around the clock in any weather, including in conditions of bad weather, to monitor and manage the natural resources which show the demand for earth imagery services through satellites in the country.
- The Kondor satellite series comprises Earth observation satellites tasked with surface mapping, environmental monitoring, and natural resource exploration. Additionally, the spacecraft is designed to provide a 24-hour survey of Earth's continental regions and oceans second satellite of this kind is scheduled to be launched in 2024, and another two will be established in 2029 and 2030, which would accelerate the adoption of satellite imagery services in the natural resource management sector.
- In addition, 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. This information can be invaluable for emergency response teams and regulatory agencies responsible for enforcing environmental protection laws and standards, driving the market growth in Russia.
