North America Remote Sensing Technology Market, By 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, & 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), & Very High Resolution Industry (Forestry, Floodplain Mapping And Emergency Management, Healthcare, Geology And Mineral Exploration, Oceanography, Agriculture & Others), Country (U.S., Canada, Mexico) Industry Trends and Forecast to 2029.
Market Analysis and Insights: North America Remote Sensing Technology Market
The remote sensing technology market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing with the CAGR of 9.3% in the forecast period of 2022 to 2029 and expected to reach USD 8,534.12 million by 2029. The increasing adoption of Internet of Things (IoT) innovation in the agriculture sector is expected to drive the market growth.
Remote sensing is a type of geospatial technology that emits and reflects electromagnetic (EM) radiation from the Earth’s terrestrial, atmospheric, and aquatic ecosystems in order to detect and monitor the physical characteristics of an area without making physical contact. This technique of data collection typically involves aircraft-based and satellite-based sensor technologies that are categorized as both passive sensors and active sensors. Passive sensors respond to external stimuli, collecting radiation that is reflected or emitted by an object or the surrounding space. The most common source of radiation measured through passive remote sensing is reflected sunlight. Active sensors use internal stimuli to gather data, emitting energy which will scan objects and areas whereupon a sensor measures the energy reflected from the target.
IoT in agriculture makes use of remote sensors, robots, drones, and PC imaging to display screen crops and provide information to farmers for efficient management of the farm. Internet of thing (IoT) sensors are used to gather data this is transmitted for the purpose of analysis. Farmers can display the quality of the crop from a systematic dashboard.
The requirement for high initial investments in the assembling of numerous components is blocking the development of the remote sensing technology marketplace. The market players want to make elements and encode data content material that fulfills the guidelines set by administrative organizations. This restricts the development possibilities for organizations in the marketplace. However, increasing adoption in research and exploration applications is expected to drive the market in the coming years.
The rising demand for the earth observation projects among developed and developing countries is expected to drive the growth of the market. Absence of alertness and interoperability issue is expected to challenge the market’s growth, however rising adoption of remote sensing in research and exploration among different sectors is expected to create an opportunity for the market’s growth. High infrastructure establishment cost may restrain the market’s growth.
The remote sensing technology market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the Remote sensing technology market scenario contact Data Bridge Market Research for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Remote Sensing Technology Market Scope and Market Size
The remote sensing technology market is segmented into four notable segments which are based on the type, system type, image resolution and application. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, the remote sensing technology market is segmented into active and passive. In 2022, the passive segment is expected to dominate the market as passive remote sensing technology provides high-quality satellite images and is widely used for earth observation.
- 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, & acoustic, and near-acoustic remote sensing. In 2022, the radar remote sensing segment is expected to dominate the market as 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), & very high resolution industry (< 1 meter). In 2022, low spatial resolution sources (> 30 meters) are expected to dominate the market as they are highly flame retardant and can be used in a wide range of industrial applications.
- On the basis of application, 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 & others. In 2022, the landscape assessment segment is expected to dominate the market as it ensures that landscapes are sustainably managed and developed.
Remote Sensing Technology Market Country Level Analysis
The remote sensing technology market is analyzed and market size information is provided by the country, type, system type, image resolution and application as referenced above.
The countries covered in the remote sensing technology market report are the U.S., Canada, and Mexico.
The U.S. is expected to dominate the market due to the presence of key market players and the adoption of remote sensing technology in major applications.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while Providing Forecast Analysis Of The Country Data.
Surging Utility in Military and Defense Sector is Expected to Drive the Growth of the Market
The remote sensing technology market also provides you with detailed market analysis for every country growth in particular market. Additionally, it provides the detail information regarding the market players’ strategy and their geographical presence. The data is available for historic period 2011-2020.
Competitive Landscape and Remote Sensing Technology Market Share Analysis
Remote sensing technology market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to remote sensing technology market.
Some of the major players operating in the remote sensing technology market are Northrop Grumman, The Airborne Sensing Corporation ,ITT INC., Leica Geosystems AG - Part of Hexagon, Lockheed Martin Corporation., Honeywell International Inc., Thales Group, Orbital Insight, Ceres Imaging, Satellite Imaging Corporation, Descartes Labs, Inc, Astro Digital US, SlantRange, Inc., Droplet Measurement Technologies, Airbus, Farmers Edge Inc., SCANEX Group., SpaceKnow, Raytheon Technologies Corporation, Terra Remote Sensing, PrecisionHawk and among others.
Many contracts and agreements are also initiated by the companies’ worldwide which are also accelerating the remote sensing technology market.
For instances,
- In December 2021, Airbus completed its second ocean monitoring satellite sentinel-6B. The satellite was built to measure the distance to the sea surface to an accuracy of a few centimeters. The main purpose of the satellite is to measure the height of the sea surface, variations 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 necessary requirement to validate the company's motor design for production. The company’s investment in digital technologies drives affordability in modern and efficient tactical solid rocket motor production facilities.
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