United Arab Emirates Satellite-based Earth Observation Market Size

United Arab Emirates Satellite-based Earth Observation Market Analysis

The UAE Satellite-based Earth Observation Market size is expected to grow from USD 0.09 billion in the current year to USD 0.13 billion in the next five years, at a CAGR of 8.55% during the forecast period. The UAE Satellite-based earth observation market is driven by the increasing government support to boost the country's space sector coupled with the increasing demand for environmental monitoring.

• The satellite-based earth observation market in UAE is analyzed to witness substantial growth in the coming years, with the country's government making significant strides to boost the country's space sector. The country has established several centers and entities, such as UAE Space Agency, to support the research and development of space sciences. The agency works to raise awareness about the importance of space technologies, enhance national capabilities, and encourage the peaceful application of space research.
• Moreover, the country is making substantial investments in the space sector, which is further analyzed to create significant growth opportunities for satellite-based earth observation market in the coming years. For instance, in July 2022, the UAE Space Agency announced a new AED 3 billion (USD 820 million) national investment and development fund for the space sector to help diversify its oil-dependent economy. The National Space Fund will actively encourage partnerships between international and local companies in the space sector.
• Further, Emirati companies are working on next-generation earth observation satellites to strengthen the country's satellite-based earth observation market. For instance, to be developed at the Mohammad Bin Rashid Space Centre (MBRSC) in Dubai, the MBZ-SAT, a next-generation earth observation satellite, is expected to be launched in 2024. The low earth orbit satellite is expected to provide substantial support in the country's urban planning, monitoring environmental changes, watery quality, and agricultural development.
• Emirati public sector space organizations are making significant strides to foster the country's earth observation satellite sector aligned with the UAE National Space Programme. For instance, over the years, the MBRSC has built, developed, and operated several Earth observation satellites, provided imaging services, analyzed and studied them, and produced relevant data for scientific communities and research centers worldwide. Among the earth observation satellites that the center operates are DubaiSat-1 & DubaiSat-2. Such developments further support the market growth in the country over the forecast period.
• The COVID-19 pandemic has negatively impacted the country's space sector as well as the earth observation sector owing to the lockdowns, which resulted in supply chain disruptions and delayed launches of earth observation satellites. Post-pandemic, the satellite-based earth observation market in the country surpassed the pre-pandemic market with the increasing presence of global market vendors, growing partnerships, and growth in earth observation-based activities in the country's space sector.