UAE Satellite Imagery Services Market Size

UAE Satellite Imagery Services Market Analysis

The UAE satellite imagery services market is valued at USD 0.05 billion this year. It is expected to register a CAGR of 10.51% during the forecast period to reach USD 0.08 billion by the next five years as the country continues to invest in space technology and promote innovation, satellite imagery services are expected to play a vital role in various sectors, contributing to the UAE's economic and societal development.

• The UAE is significantly making strides in the space industry. The country's government also actively participates in developing space-related technologies, which has resulted in the establishment of the Mohammed bin Rashid Space Centre (MBRSC) and the UAE Space Agency.
• The UAE has launched several Earth observation satellites to support its satellite imagery services. Notably, the UAE's flagship satellite, KhalifaSat, was launched five years ago, making it the first satellite wholly developed in the UAE. KhalifaSat captures high-resolution images with a spatial resolution of up to 70 cm, enabling detailed monitoring of various regions and sectors.
• Satellite imagery services are crucial in the UAE's infrastructure development projects. The country's rapid urbanization and ambitious construction projects, such as the Dubai Expo 2020 and numerous megaprojects, rely on satellite imagery for efficient planning, progress monitoring, and asset management.
• In addition, the country's significant focus on advancing satellite images could act as a potential driver for market growth. For instance, MBRSC plans to focus on capturing the demand for satellite images for commercial use by deploying its MBZ-SAT, expected to be launched in the next year.
• Further, the UAE's rapid infrastructure development and focus on building smart cities create a high demand for satellite imagery services. The satellite data could help monitor construction projects, urban planning, traffic management, and sustainable development.
• However, the availability of various alternatives, such as UAVs, drones, aerial imagery, etc., could be a potential restraint for the market's growth in the country. Moreover, the government is an active International Civil Aviation Organization (ICAO) member involved in developing regulations on the safe use of drones in international airspace. In addition, the UAE has signed agreements with several countries to allow the use of drones for commercial purposes.
• Further, COVID-19 significantly impacted the UAE satellite imagery market. During the pre-pandemic stages, the market's supply chain got a major halt, leading to the discontinuity of services. However, in the later periods, satellite imagery services got prominence owing to the increased need for remote monitoring and sensing, especially in healthcare, in tracking the virus spread mapping.