Global Remote Sensing Market - 2023-2030

Market Overview

The global remote sensing market reached US$ XX million in 2022 and is projected to witness lucrative growth by reaching up to US$ XX million by 2030. The market is growing at a CAGR of 15.2% during the forecast period (2023-2030).

Remote sensing is acquiring and interpreting information about an object, area or phenomenon without coming into direct contact with it. Remote sensing is typically accomplished using various forms of electromagnetic radiation, such as visible light, infrared and microwave radiation.

Remote sensing has many applications across multiple fields, including geography, geology, agriculture, environmental science, etc. It can study land use and cover, monitor Earth's surface changes over time and identify potential environmental hazards such as wildfires or oil spills.

Market Dynamics

The increase in demand for satellite-based imaging and mapping services

With the increasing demand for accurate and real-time data, satellite-based imaging and mapping have become essential tools for various industries and applications; therefore, companies are investing in remote sensing to create growth prospects for market growth.

For instance, in January 2023, Dragonfly Aerospace launched its first Imaging satellite, EOS SAT-1. The satellite is the first constellation specifically designed for agriculture and is entirely produced by Dragonfly Aerospace in Stellenbosch, South Africa. The agriculture and forestry sectors will benefit from EOS SAT-1's effective data, which will improve sustainable practices and guarantee profitability. Additionally, the satellite will directly impact the agricultural sector by using remote sensing to reshape it and align it with the UN's Sustainable Development Goals.

Similarly, in the defense and security sector, remote sensing data is used for border surveillance, threat assessment and disaster management. The data helps military and security organizations make informed decisions about resource allocation and respond more effectively to potential threats.

The high cost of remote sensing equipment and services

One of the primary reasons for the high cost of remote sensing devices is the use of advanced technology. The sensors used in remote sensing are designed to collect high-resolution data. The electronics required to process and transmit this data are also very expensive; this results in high manufacturing costs, which are then passed on to the consumer.

Another factor contributing to the high cost of remote sensing devices is their specialized nature. These devices are not mass-produced like consumer electronics. Still, they are instead built in smaller quantities to meet specific requirements-the specialized production results in higher costs, which are reflected in the price of the devices.

COVID-19 Impact Analysis

The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it with pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).

Segment Analysis

The global remote sensing market is segmented based on technology, platform, application and region.

The rising demand for surface roughness, texture and topography of an object or surface has escalated the demand for active remote sensing

Active remote sensing, a technology segment of global remote sensing, is expected to hold a significant share of the global market. Active remote sensing is a technique that involves transmitting a signal toward an object or surface and measuring the properties of the signal that is reflected. The method is used in various applications, including geography, geology and environmental science.

One of the key advantages of active remote sensing is its ability to penetrate through clouds, vegetation and other obstacles that may obstruct the view of a passive remote sensor. Active remote sensing can also provide information on an object's surface roughness, texture and topography, which can be used for various applications.

Geographical Analysis

Increasing demand for geospatial information and advances in satellite technology has escalated the demand for remote sensing in Asia-Pacific

The Asia-Pacific remote sensing market is a growing industry driven by factors such as the increasing demand for geospatial information, advances in satellite technology and the growing awareness of the benefits of remote sensing technology.

The market comprises various types of sensors and platforms, including aerial, terrestrial and satellite-based sensors. It is used across various industries, such as agriculture, forestry, environmental monitoring and urban planning.

One key driver of the Asia-Pacific remote sensing market is the increasing adoption of remote sensing technologies by governments and businesses across the region. Governments use remote sensing for disaster response and environmental monitoring applications, while businesses use it for asset management and resource exploration.

Competitive Landscape

The major global players in the market include DigitalGlobe, Northrop Grumman Corporation, Esri, General Dynamics Mission Systems, Inc, Lumasense Technologies, Inc., Thales Group, Leica Geosystems Holdings AGHexagon AB, Lockheed Martin Corporation orbital Insight, Planet Labs Inc.

Why Purchase the Report?

• To visualize the global remote sensing market segmentation based on technology, platform, application and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of remote sensing market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global remote sensing market report would provide approximately 61 tables, 56 figures and 191 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies