Remote Sensing Satellite Market by System (SATCOM, Radar, EO/IR, and Others), Application (Earth Observation, Telecommunication, Meteorology, Mapping and Navigation, and Others), End User (Defense and Commercial), and Region-Forecast 2027
|ID: VPR/A&D/1150||Publishing Year: January 2022||Pages: 102||Format:|
Remote Sensing Satellite Market Overview:
Remote Sensing is the process of capturing, measuring, and interpreting digital images from remote locations in order to collect data on phenomena or physical things. Satellites outfitted with highly efficient sensors that measure thermal infrared radiation emanating from the earth are known as Remote Sensing Satellites. Land-use mapping, agricultural, land mapping, forestry, urban planning, archaeological investigations, military monitoring and deforestation, vegetation dynamics, water quality dynamics, urban growth, and other applications of Remote Sensing Satellites are just a few. From aerial photography to multispectral satellite imagery, Remote Sensing Technology has progressed. Earth and atmosphere radiation interaction characteristics in a variety of spectrum regions aid in distinguishing and characterising earth and atmospheric properties. During the projected period, the market is likely to be driven by advancements in Remote Sensing Satellites.
The key players in the Global Remote Sensing Satellite Market are Airbus SAS (France), Ball Corporation (US), Boeing (US), Space Exploration Technologies Corporation (US), Thales Group (France), China Aerospace Science and Technology Corporation (China), Lockheed Martin Corporation (US), Mitsubishi Electric Corporation (Tokyo), Orbital ATK Inc. (US), and Planet Labs Inc. (US). Research Methodology The market values and forecast are derived using the methodology, which includes secondary research, primary interviews, data triangulation, and validation from an in-house data repository and statistical modeling tools.
Increased investment in Remote Sensing Satellites for atmospheric pollution and air quality monitoring are projected to contribute to the growth of the Remote Sensing Satellite Market. Furthermore, the expansion of emerging technologies such as big data analytics, the Internet of Things (IoT), and cloud computing is expected to boost demand for Remote Sensing Services. Global Remote Sensing Satellite Market Segmentation The market for remote sensing satellites is divided into four categories: system, application, end user, and geography. Due to the expanding demand for earth observation satellites, the SATCOM technology is widely employed and accounts for the majority of market share.
The satellites sector is expected to lead the Remote Sensing Services Market throughout the forecast period, based on platform. The rising demand for Earth observation satellites to acquire useful information for mapping, mining exploration, land-use planning, resource management, and other activities can be contributed to the expansion of the satellites segment. These satellites provide data in a variety of geographical, temporal, and spectral resolutions to meet the needs of different applications.
The UAVs segment of the Remote Sensing Services Market is expected to develop at the fastest CAGR from 2017 to 2022, based on platform. UAVs are widely regarded as the most effective Remote Sensing Platform. Precision farming, 3D terrain model generation, damage assessment, geohazard mapping, and mineral exploitation all use UAV-based Remote Sensing Services for large-scale mapping, real-time assessment, and monitoring activities.
Because of the growing demand for high-resolution systems and crucial measurements, the spatial sector is expected to lead the Remote Sensing Services Market throughout the forecast period. High spatial resolution photos can help viewers distinguish between two items that are near in proximity, which is predicted to increase demand for spatial resolution data in commercial and defence applications.
The presence of significant market players such as Lockheed Martin Corporation, Esri, General Dynamics Mission Systems, Inc., and Raytheon Technologies Corporation accounts for this share. During the projected period, the adoption of Remote Sensing Technology in precision farming applications is expected to drive market growth. Water resource managers can use the technology to reduce the impact of dry spells and droughts, as well as match agricultural irrigation needs.
This can be attributed to the growing use of earth observation for infrastructure building purposes. China, Japan, Australia, and India are among the most attractive markets for Remote Sensing Technology vendors in the region. Government measures aimed at improving urban infrastructure, such as India's Smart City Mission, are likely to boost regional market growth.
Following the emergence of the COVID-19 pandemic, many countries implemented tight quarantine measures. As a result, more people are using remote sensing technology to track the spread of diseases and document environmental changes.
For example, in June 2020, NASA, JAXA, and the European Space Agency (ESA) collaborated to develop a new earth observation dashboard that monitors changes in the environment and human lifestyle as a result of the COVID-19 virus.
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