Author: Scanway
Publication date:
A report by the World Economic Forum (WEF), prepared in collaboration with McKinsey & Company, reveals the growing importance of space technology and satellite data in the global economy, projecting that the value of the space economy could grow from $630 billion in 2023 to $1.8 trillion by 2035. One of the fastest-growing sectors is Earth observation.
- Space technologies will increasingly influence our daily lives, and the space economy could exceed $1 trillion as early as 2030, much like the semiconductor sector, for example
- According to WEF experts, the commercial Earth observation services segment will grow from $2 billion in 2023 to $9 billion in 2035. Key areas of application for optical data in this sector include: environmental and pollution monitoring, agricultural support, natural disaster prediction and damage assessment, and the improvement of meteorological services
- Optical data from satellites is becoming increasingly important for defense operations – In 2023, the value of the defense sector related to the use of satellite data (including optical data) amounted to approximately $66 billion, and it is projected to grow by 9 percent annually through 2035
As indicated in the report “Space: The $1.8 Trillion Opportunity for Global Economic Growth,” optical data is becoming increasingly widespread year after year across many sectors, enabling, among other things, military analysis, as well as the effective management of natural resources and urban spaces, and responses to environmental changes. It also plays a significant role in tracking air pollution and greenhouse gas emissions. Modern environmental monitoring satellites enable, for example, the accurate detection of methane leaks.
– We are part of a Korean project called NarSha, which aims to create a constellation of 12 microsatellites for a global infrastructure to monitor point sources of methane in near real time and with local-level spatial resolution. Thanks to this project, it will be possible to quickly and accurately identify sources of methane emissions, initially in Korea, with the potential to apply this solution worldwide, which will contribute to more effective efforts to combat climate change. “— comments Mikołaj Podgórski, COO and co-founder of Scanway S.A. — I’d like to add that methane is a greenhouse gas that is much more harmful to the atmosphere than CO2 ,” he concludes.
Satellite data is becoming increasingly important for agriculture, where it supports precision crop management, monitoring of soil health, water availability, and crop quality. Thanks to this data, farmers can maximize yields, conserve water resources, and use fertilizers more efficiently, which directly impacts productivity and sustainable agricultural practices.
The WEF report notes that optical data from satellites is widely used to predict and respond to natural disasters such as fires, floods, and hurricanes. An example of the use of this data is the flood in Europe that occurred in the fall of 2024. Thanks to the use of radar data (provided, for example, by ICEYE) and optical data from the European Copernicus Earth Observation Program, it was possible to better monitor the flood situation in southwestern Poland. This is extremely important because satellite imagery allows for real-time assessment of the situation, which speeds up rescue operations and enables rapid evacuation and the delivery of aid to affected areas. Mapping disaster-prone areas also supports preventive measures, reducing their potential impact. Data provided from orbit is also a vital tool used to improve global weather forecasts. It is precisely thanks to precise satellite data that short- and long-term forecasts improve in quality, which is beneficial across many sectors. According to experts, revenue from weather forecasts based on optical data could triple by 2035 (from $2 billion in 2023 to $6 billion by 2035).
– Optical data, particularly when processed in real time, is crucial for effective resource management and environmental protection on a global scale. Precise monitoring of emissions in industrial cities and agricultural regions enables a rapid response to detected threats. It is precisely thanks to this information that businesses and local governments can take effective remedial action – comments Mikołaj Podgórski.
As the expert points out, these technologies, combined with modern data centers, enable the generation of detailed reports that help both businesses and local governments take effective action. Scanway, as a company that develops advanced optical systems, focuses on designing instruments that enable precise analysis of water and forest resources and the monitoring of pollutant emissions.
An example of implementing this type of technology might include analyzing key areas, configuring optical instruments, and tailoring monitoring to the client’s specific needs. With the support of appropriate infrastructure, imaging data can be transmitted in real time to stakeholders via a dedicated analytics platform, enabling immediate action to be taken to improve air quality. This model for applying Scanway technology illustrates how advanced optical solutions can support emissions reduction, regulatory compliance, and improvements in public health.
– In the space sector, optical data is currently a key resource. Looking at the global picture, we can see that we are capable of flying into space and launching thousands of satellites there. However, the biggest challenge today is organizing the flow of optical data, managing that flow, and properly processing satellite optical data. – emphasizes Mikołaj Podgórski.
The same report notes that an increasing number of countries are developing space programs and incorporating optical data as an integral part of their defense strategies. Optical data will be a key element in the integration of defense systems that link various military platforms (e.g., land, sea, and air) with space infrastructure. Thanks to this data, it is possible to make precise decisions, improve situational awareness, and enhance national security.
The value of the defense sector related to the use of satellite data, including optical data, was approximately $66 billion in 2023, and forecasts indicate it will grow to $180 billion by 2035. Satellite technologies are also critical for advanced communication and navigation systems in military equipment. Their value is estimated to grow from $27 billion in 2023 to $68 billion in 2035. At the same time, satellite-based defense services, such as military logistics tracking and crisis response, will grow from $1 billion in 2023 to $3 billion in 2035.
As the authors of the report “Space: The $1.8 Trillion Opportunity for Global Economic Growth” conclude, space technologies—including satellite optics—support global efforts to improve quality of life, the environment, and national security. In this context, Poland has the opportunity to play a significant role in the European space sector by providing world-class technological solutions.
About Scanway:
Scanway S.A. is a Polish company that has been in business for 9 years. It specializes in the optical data chain, which includes data acquisition, processing, analytics, and event prediction based on that data. In the Space segment, the company provides both hardware solutions (optical instruments, such as telescopes and cameras) and imaging analytics. In the Industry segment, it offers solutions (products) based on image data processing, including complete quality control systems. The Company’s expertise and experience in both fields are complementary and create synergies. Scanway strives to provide its customers with full access to key optical data in both segments.
As one of only a dozen or so companies worldwide, Scanway has developed a complete range of optoelectronic products for Earth observation from orbit. The company carries out key contracts for space equipment in Poland and around the world, including for commercial clients. It also operates STAR VIBE, Poland’s longest-operating optical observation satellite. The company’s solutions have been incorporated into the most important European and Polish space missions of 2024. Among other achievements, the company installed its equipment (the Scanway Camera System) on the maiden flight of Europe’s newest launch vehicle, Ariane 6, and delivered Poland’s largest-ever telescope, weighing approximately 10 kg (SOP200) to EagleEye—the largest satellite Poland has ever sent into space.
The company has completed over 40 quality control implementations in the industrial sector. As a technology partner to the sector’s largest manufacturers, it develops proprietary software solutions using AI and advanced applications for Industry 4.0.
The company has completed over 40 quality control implementations in the industrial sector. As a technology partner for the sector’s largest manufacturers, it develops proprietary software solutions using AI and advanced applications for Industry 4.0.
In October 2023, the Company made its debut on the NewConnect market. It has fully achieved the goals announced in its initial public offering and is currently preparing to move to the Main Market of the Warsaw Stock Exchange. For more information:
https://scanway.pl/ and https://scanway.space/
Media Contact
Scanway S.A. Corporate Communications Office
Katarzyna Żądło
+48 661 140 260
k.zadlo@scanway.pl
Contact for investors and analysts
Mardoniusz Maćkowiak
+48 605 959 539
mardoniusz.mackowiak@ccgroup.pl