Once the exclusive realm of science fiction and government agencies, space is rapidly transforming into an indispensable frontier for modern business. From orbiting satellites to the prospect of commercial space travel, the cosmos now offers a wealth of opportunities for enterprises seeking to navigate an increasingly complex world. This cosmic shift isn’t just about exploration; it’s about harnessing invaluable data to drive strategic decisions.
The global space economy has boomed over the past decade, with the market expected to grow from $630bn in 2023 to $1.8 trillion in 2035. From SpaceX launching its Falcon rocket with Starlink satellites for the 500th time, to BlueOrigin opening the doors to commercial space travel, the cosmos is no longer solely a tool for exploration, but today, a resource for businesses. Now, satellites provide companies with essential data to make more informed decisions, streamline processes, reduce risk, and track environmental change in real time.
Beyond Earth: Tapping into Space Data for Critical Insights
The insights derived from space data are profound and far-reaching. Imagine pinpointing pollution sources with unprecedented accuracy or anticipating supply chain disruptions before they escalate. These are not futuristic scenarios; they are current applications transforming how businesses operate.
For example, recent reporting from Al Gore’s Climate TRACE shows how real-time satellite data from 300-plus satellites can help pinpoint pollution sources worldwide, helping businesses and policymakers save millions of lives each year.
The need for space technology has never been greater. As climate change accelerates, supply chains become increasingly complex, and sustainability regulations tighten, businesses need accurate, actionable data more than ever. This growing demand underscores space data’s role as a vital tool for achieving operational resilience and long-term sustainability goals.
With that in mind, here is how companies from industries such as insurance, supply chain and sustainability are already tapping into the power of space data.
Transforming Risk Management: From Climate to Nature Risks
The insurance sector has long relied on satellite technology, primarily for assessing immediate physical risks. Insurers have historically used satellite imaging to assess risks like flooding, wildfire, and storm damage. Underwriters use information from satellites to set premiums, and process claims more efficiently.
Yet, as climate change’s impact grows, insurers now face a new challenge: biodiversity and land-use risk. The escalating risks of habitat loss, deforestation, and their contributions to potential floods or wildfires can lead to the mispricing of risk which in 2024 alone, cost private carriers $154 billion in unexpected claims. The challenge is that relevant data about how these risks affect their clients have been difficult to find.
However, there are companies helping to change this with space data, one example being CATALYST. The satellite technology company is working with corporate insurer Howden on one of six projects funded under the UK Space Agency’s Unlocking Space for Business program. It is developing a satellite-based tracking platform that tracks change in land-use to quantify and assess biodiversity risk across insurance portfolios.
This goes far beyond simple aerial photography. Rather than simply marketing “real-time data,” modern insurers are beginning to stitch satellite feeds, like optical, thermal and synthetic aperture radar (SAR), with ground sensors and topographic models to generate probabilistic risk maps that bring more transparency to underwriting and claims.
A prime example of this integrated approach is seen in flood tracking. NOAA uses its Geostationary Operational Environmental Satellites (GOES) and the Joint Polar Satellite System (JPSS), plus radar, to track floods even when clouds block the view. Insurers are borrowing the same approach: mixing satellite feeds to spot deforestation or confirm claims in real time. According to Reinsurance News, ICEYE is among the firms testing it, and the results feed directly into new disclosure rules like the Taskforce on Nature-related Financial Disclosures.
Driving Sustainability and Supply Chain Resilience
Sustainability is no longer an optional add-on but a regulatory imperative. As sustainability moves from voluntary to mandatory reporting, corporations now must measure all of their environmental effects: not only in carbon but nature. Furthermore, the TNFD have announced this week that over 600 global brands, collectively representing $6.5 trillion in market capitalization, are embracing its nature reporting guidelines.
Satellites lie at the core of the shift. They not only monitor emissions and methane leaks but also how deforestation, agriculture, and wetland destruction are able to bring about large shifts in ecosystems. The ability to monitor vast areas and track changes over time provides an unparalleled view of environmental impact.
The range of providers is broad. Satelligence helps agribusiness giants like Cargill identify threats of deforestation and deploy solutions across its agricultural supply chains. Meanwhile, satellite data analytics company Planet Labs is working with the German government to supply high-resolution imagery for ecosystem monitoring and reforestation tracking. EarthDaily and Maxar, meanwhile, run mapping platforms that let both companies and governments measure how land use is shifting and whether conservation efforts are actually working.
Enhancing Global Supply Chain Visibility
For supply chains, space data offers a crucial lifeline in an era of constant disruption. Supply chains are increasingly being pinched by global shocks, climate extremes, and most recently, geopolitical frictions caused by US tariffs. Disruptions cost a lot: large companies can lose up to 45% of annual profits for a decade from supply chain disruptions, according to McKinsey research.
Again here, space data is becoming a factor of competitiveness. Satellite constellations allow businesses to track assets, monitor infrastructure, and anticipate risks that were previously invisible. This enhanced visibility helps companies build more robust and responsive supply networks.
For example, Orbital Insight, which was acquired by Steve Wozniack’s space firm Privateer last year, employs satellite imagery and geospatial analytics to track global oil supplies, retail sales, and farm production so that companies can predict shortages and price movements. Manufacturers and retailers can both use the platform to view how congestion in their ports is impacting them and to monitor warehouse activity.
Meanwhile, Spire Global just secured a $2.5 million contract with the NOAA to supply satellite-based weather data allowing shipping companies to forecast delays, chart best routes, and improve against disruptions to the global supply.
The Future is Now: Space Data as Business Infrastructure
The narrative around space has fundamentally shifted. Ten years ago, satellites were the domain of astronauts and national agencies. Today, they’re APIs, data streams, and dashboards that tell us if cargo is late, forests are shrinking, or claims risk is spiking. Space data isn’t a distant resource anymore; it’s infrastructure. And as costs drop and constellations grow, expect it to shape how every boardroom thinks about resilience.
Embracing space data is no longer an option but a strategic imperative for businesses aiming to thrive amidst global challenges. By integrating these powerful insights, companies can fortify their operations, lead in sustainability, and drive innovation into the next era of business intelligence.
