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 till 2030

Remote Sensing Satellite Market

Remote Sensing Satellite Market Size is expected to reach USD 35.2 Billion by 2030, registering a CAGR of 11.20% during 2022-2030.

Remote sensing refers to a process of detecting and observing the physical traits of an area by measuring reflected and emitted radiation at a distance (usually from aircraft or satellite). The global market for remote sensing satellites has registered a massive shift in growth worldwide owing to the successful use of the image data produced with the help of satellites in a variety of areas like mining industry, business & manufacturing units, disaster mitigation planning trailed by the recovery procedure, protecting the environment, forecasting the weather, and several production units amongst others. The growing applications areas are likely to cause good investment return for the market over the assessment era. Furthermore, the factors such as the growth of the cloud computing market, rising adoption of cloud technologies, rising need for remote sensing data in major economical fields, and rise in the use of the data generated are also projected to catalyze the growth of the market over the coming years. However, the lack of awareness and interpretation ability and huge capital requirement is anticipated to impede the market’s growth.

Covid 19 Analysis of Remote Sensing Satellite Market

The global coronavirus pandemic as understood by the common man has brought along a series of after-effects on the health of people, the way they live their lives, and also, the ability of various businesses and manufacturing units to produce and meet the demand of the target audience. Also, the pandemic was a hard time for freelancers, part-time workers, daily wage laborers, and others as the lockdown and functional restrictions imposed pushed them to give up and move to their hometowns in search of a safe living and reducing their expenditure.

The government, public sector, and the collaborations of the prominent market players functional across various global regions are playing a major role in the expansion of the remote sensing satellite market share. The global market operations are witnessing a major expansion owing to the rising investment in the research and development department. This is helping the market players to focus on the accuracy of data curated by satellites which can be well implemented across various companies and businesses. Also, product development and launch backed with mergers and acquisitions are expected to peasant excellent attributes for the market by the end of the forecast period.

Market Dynamics

Drivers

The growth of the cloud computing market across an array of fields and services backed with its rising marginal adoption is likely to promise an excellent growth of the global remote sensing satellite market functions during the forecast period. Also, the rising adoption of cloud technologies is backed by the rising need for remote sensing data in major economical fields like defense and the military. Also, the rise in the use of the data generated is witnessing an excellent demand in commercial applications, as well.

Restraints

One of the major restraints that pose functional challenges for the growth of the remote sensing satellite market size is the lack of awareness and interpretation ability and facility of the generated data to be used across various industry vertices. Also, there is a huge requirement of capital for expenditure to enhance the ability of appropriate and accurate data generation and implementation of the same for useful results in various business units is posing restrictions for the market operations on the way of its global growth by the end of the forecast period.

Technology Analysis

The Remote Sensing Satellite Market operations are functioning to cater to the huge rise in the demands of the target audience for homeland security operations and their adoption at a series of verticals. Further, the global market services and target audience are demanding the need for real-time data during the ongoing forecast period. With the availability of real-time data, the businesses and manufacturing units will be able to target the needful and maintain a smooth run of the supply chain mechanism by catering to the rising demand trends across various global regions. Also, the market is further, developing a need for the wide-scale introduction of big data analytics in remote sensing services which has great growth opportunities for the market trends during the forecast period.

Study Objectives

• To understand the market mechanism and the ability of the key market players to produce products and services to cater to the needs of the target audience amongst the prevailing competition.


• To study the market scope and revenue potential of the segments functional in various mushrooming geographical regions across the globe.


• To analyze the market functions and consider the viewpoints of the industry leaders and experts in predicting the market’s growth figures during the forecast period.

Segment Overview

To have an idea about the remote sensing satellite market value that is a result of the revenue earned by the market segments across various global regions. The global market report aims to help the investors make investment decisions for the products and services being offered to the target audience. The market has been segmented based on the following:

Resolution

Based on the resolution segment of the remote sensing satellite market t functional in major global regions, the segment includes spatial resolutions amongst others like spectral, temporal, and radiometric.

Region

The market has been divided into 4 regions namely the North American region, Europe, the APAC region, and the rest of the world (RoW). 

End-user

Based on the market end-users, the market has been divided into the defense and commercial sectors. The defense sector is further divided into defense organizations and homeland security agencies. The commercial sector is inclusive of energy and power, weather forecasting, median, scientific research, and entertainment, amongst others.

Platform

Based on the platform segment of the global remote sensing satellite market, the operations have been segmented into satellites, manned aircraft, UAVs, and the ground. The UAVs have further been divided into precision farming, defense, intelligence, damage assessment, and pipeline monitoring, amongst others.

Regional Analysis

Based on the remote sensing satellite market trends that were prevailing in the historic forecast period that ended in 2020, the North American region dominated the global market operations. With the pandemic year of 2020 as the base followed by the ongoing forecast period, the same region is expecting to grow as a dominant force. The main focus of the prominent market players located in this region is the development of remote sensing services on a large scale and making them available for a series of audiences like the agriculture sector, scientific research, power, oil, gas, energy, and the forest industry, amongst others.

Competitive Landscape

The remote sensing satellite market forecast predicts good growth for the market during the forecast period. Also, the performance of the prominent players is important to help the market reach the value of its growth predictions by the market experts for the period. Also, it helps in drawing a competitive graph. The key market players are as follows:

• Antrix Corporation (India)


• Geo Sense (Malaysia)


• DigitalGlobe (US)


• Satellite Imaging Corporation (US)


• Mallon Technology (UK)


• EKOFASTBA (Spain)


• Remote Sensing Solutions (Germany)

Recent Developments

• February 2022- John Deere and researchers at Kansas State University are releasing results of a project that they believe could “fundamentally change” how farmers manage and market crops. The university is working with John Deere to examine the information from remote sensors on and off combines, which will eventually assist farmers in improving grain protein in crops.


• February 2022- ICEYE, a synthetic aperture radar imaging startup, announced that it had raised USD136 million in the latest Series D funding round, getting its aggregate raised to date to USD304 million, one of the most well-capitalized space startups apart from SpaceX. The primary focus is remote sensing, i.e., getting images of Earth from space and the technology it uses to do so, with its capacity to look through cloud cover and other obstacles simply.

Intended Audience

• Software, hardware, and service providers


• Solution providers


• Remote sensing service providers and system manufacturers


• Technology support providers


• Scientific research centers


• Research and manufacturing institutions


• Subsystem manufacturers


• Ministry of defense


• Public sector


• Government

Report Overview

As per the remote sensing satellite market outlook, the report highlights the scope of the market and the attempts of the market players to help the market grow during the ongoing forecast period. The report helps in discussing the predictions laid by the market experts and leaders based on the market competition.