Radar Remote Sensing to Account for 20.65% Global Remote Sensing Technology Market Share

 

Remote sensing technology is used to collect data and analyze physical features of the earth's surface. It focuses on reflected and emitted light from planes and satellites rather than physical touch with the surface under investigation. The growing number of earth observation activities undertaken by various space organizations is driving the market. For instance, the Indian Space Research Organization (ISRO) currently has thirteen earth observation satellites and aims to launch 10 more between 2020 and 2021.

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Data Bridge Market Research analyses that the remote sensing technology market is expected to grow at a CAGR of 8.6% in the forecast period of 2022 to 2029 and is expected to reach USD 20,090.18 million by 2029. The capacity to gather measurements at any time, regardless of the time of day or season, is a major driver of the remote sensing technology market. The increased supply for autonomous vehicles that incorporate this technology into their sensing systems is creating chances for the remote sensing technology market to grow throughout the forecast period.  

Remote Sensing Technology Market

Rising internet of things (IoT) technology in the agriculture sector is expected to drive the market's growth rate during the forecast period.

Over the forecast period, the increased usage of internet of things (IoT) technology in the agriculture sector is anticipated to boost market expansion. Remote sensors, drones, robotics, and computer imaging are used in agriculture to monitor crops and deliver data to farmers for optimal farm management. IoT-based remote sensing uses sensors on farms to collect data, which is then transmitted for processing. Farmers can use an analytical dashboard to monitor their crops and take action based on the information.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2014 - 2019)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

Type (Passive and Active), System Type (Visual Remote Sensing System, Infrared Remote Sensing, Optical Remote Sensing, Microwave Remote Sensing, Radar Remote Sensing, Airborne Remote Sensing, Satellite Remote Sensing, and Acoustic, And Near-Acoustic Remote Sensing), Image Resolution (Low Spatial Resolution Sources (> 30 Meters), Medium Resolution Satellite (5-30 Meters), High Resolution Industry (1-5 Meters), and Very High Resolution Industry (< 1 Meter)), Application (Landscape Assessment, Security, Air Quality, Hydrology, Forestry, Floodplain Mapping And Emergency Management, Healthcare, Geology And Mineral Exploration, Oceanography, Agriculture and Others)

Countries Covered

U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Switzerland, Netherlands, Russia, Turkey, Belgium, Rest of Europe, Japan, China, South Korea, India, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia-Pacific, South Africa, Israel, U.A.E., Saudi Arabia, Egypt, Rest of Middle East and Africa, Brazil, Argentina and Rest of South America

Market Players Covered

ITT INC. (U.S.), Northrop Grumman (U.S.), The Airborne Sensing Corporation (Canada), Leica Geosystems AG - Part of Hexagon (Switzerland), Lockheed Martin Corporation (U.S.), Honeywell International Inc. (U.S.), Thales Group (France), Orbital Insight (U.S.), Ceres Imaging (U.S.), Satellite Imaging Corporation (U.S.), Descartes Labs, Inc (U.S.), Astro Digital US (U.S.), SlantRange, Inc. (U.S.), Droplet Measurement Technologies (U.S.), Airbus (Netherlands), Farmers Edge Inc. (Canada), SCANEX Group. (Russia), SpaceKnow (U.S.), Raytheon Technologies Corporation (U.S.), Terra Remote Sensing (Canada), PrecisionHawk (U.S.)  

Data Pointers Covered in Report

In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Segment Analysis:

The remote sensing technology market is segmented on the basis of type, system type, image resolution and application.

  • On the basis of type, the remote sensing technology market is segmented into passive and active. In 2022, the passive segment is expected to dominate the global remote sensing technology market with 54.35% market share because this technology offers high-quality satellite images and also employed for earth observation.

In 2022, the passive segment is projected to hold the largest share of type segment in the remote sensing technology market

In 2022, the passive segment is anticipated to hold the largest share of global remote sensing technology market because this technology offers high-quality satellite images and also employed for earth observation. The passive segment is growing with a CAGR of 8.9% in the forecast period of 2022 to 2029.

  • On the basis of system type, the remote sensing technology market is segmented into visual remote sensing system, infrared remote sensing, optical remote sensing, microwave remote sensing, radar remote sensing, airborne remote sensing, satellite remote sensing, and acoustic and near-acoustic remote sensing. In 2022, the radar remote sensing is expected to dominate the Global Remote Sensing Technology Market with 20.65% market share because it facilitates radio signals that are clear and noise-free for propagating and communicating.
  • On the basis of image resolution, the remote sensing technology market is segmented into low spatial resolution sources (> 30 meters), medium resolution satellite (5-30 meters), high resolution industry (1-5 meters), and very high resolution industry (< 1 meter). In 2022, low spatial resolution sources (> 30 meters) is expected to dominate the global remote sensing technology market with 35.30% market share because they are highly flame retardant and can also be used in a wide range of industrial applications.

In 2022, the low spatial resolution sources (> 30 meters) segment of image resolution segment is anticipated to dominate the remote sensing technology market

In 2022, this market's low spatial resolution sources (> 30 meters) segment will dominate the remote sensing technology market because they are highly flame retardant and can also be used in a wide range of industrial applications. The low spatial resolution sources (> 30 meters) segment is expected to reach the highest CAGR of 9.0% in 2022-2029.

  • The remote sensing technology market is segmented into landscape assessment, security, air quality, hydrology, forestry, floodplain mapping and emergency management, healthcare, geology and mineral exploration, oceanography, agriculture, and others. In 2022, landscape assessment is expected to dominate the global remote sensing technology market with 18.14% market share because it ensures that landscapes are sustainably managed as well as developed.

Major Players

Data Bridge Market Research recognizes the following companies as the major remote sensing technology market players in remote sensing technology market are Thales Group (France), Airbus (Netherlands), Honeywell International Inc. (U.S.).

Remote Sensing Technology Market

Market Development -

  • In December 2021, Airbus announced the completion of its second ocean monitoring satellite sentinel-6B. The satellite was designed to measure the distance to the sea surface to a few millimeters accuracy. The satellite's primary mission is to measure sea surface height, and fluctuations in sea levels, and analyze and observe ocean currents.
  • In January 2022, Northrop Grumman Corporation completed a successful precision strike missile rocket motor static test. The rocket motor test was a requirement for the company's motor design to be approved for production. The company's investment in digital technology makes contemporary and efficient tactical solid rocket motor manufacturing facilities more affordable.

Regional Analysis

Geographically, the countries covered in the remote sensing technology market report are U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Switzerland, Netherlands, Russia, Turkey, Belgium, Rest of Europe, Japan, China, South Korea, India, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia-Pacific, South Africa, Israel, U.A.E., Saudi Arabia, Egypt, Rest of Middle East and Africa, Brazil, Argentina and Rest of South America.

As per Data Bridge Market Research analysis:

North America is the dominant region in remote sensing technology market during the forecast period 2022 -2029

North America will continue to dominate the remote sensing technology market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period due to the increasing advancement in remote sensing technology in land assessment techniques. The United States dominates the North American region due to widespread adoption of remote sensing technology in major applications and presence of key market players in the region.

Asia-Pacific is estimated to be the fastest growing region in remote sensing technology market the forecast period 2022 -2029

Asia-Pacific region is anticipated to grow at the highest rate during the forecast period of 2022-2029 due to the strengthened defense technologies and rising adoption of earth observation for infrastructure development applications in the region. Due to the growing government initiatives for urban infrastructure development, China dominates the Asia Pacific region.

COVID-19 Impact Analysis

The COVID-19 outbreak has three types of effects on the global economy of the remote sensing technology market. The remote sensing technology market had faced numerous challenges. The COVID-19 analysis interrupts the remote sensing technology market research sales channel and has an impact on production and demand. Most flights have been cancelled or prohibited due to the pandemic. The emergency has been proclaimed for a set amount of time, slowing the market and reducing market trends for remote sensing satellites. As a result of the outbreak, the sector has seen an increase in public panic, poor confidence, and concern about the future. To prevent the virus, the government and key remote sensing technology market players are adapting a variety of features and functionalities that can enable the industry regain its appeal. Taking these factors into account, the industry develops and implements number of initiatives to increase the remote sensing technology market size and recover from the scenario.

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