FILE PHOTO: A farmer walks in a corn field in Krishna district in the southern state of Andhra Pradesh, India, April 1, 2024. REUTERS/Almaas Masood/File Photo
BENGALURU (Reuters) -The global Earth Observation (EO) market is on track to exceed $8 billion in valuation by 2033 from $5 billion currently, according to a new report from Novaspace, the merger of Euroconsult and SpaceTec Partners.
The rapid growth is largely attributed to the surge in large-scale defense contracts and increasing availability of high-resolution imaging and 3D capabilities, which are enhancing the scope and quality of Earth monitoring, the report said.
