Hyperspectral Remote Sensing Market Analysis North America, Europe, APAC, South America, Middle East and Africa - US, China, Germany, UK, France - Size and Forecast 2024-2028

Hyperspectral Remote Sensing Market Size 2024-2028

The Hyperspectral Remote Sensing Market size is forecast to increase by USD 81 million and estimated to grow at a CAGR of 9.58% between 2023 and 2028. The growth of the market depends on several factors such as the growing adoption of UAVs, the increasing use of night surveillance applications, and the miniaturization of hyperspectral imaging sensors (HIS) for remote sensing. UAVs, also known as Unmanned Aerial Vehicles, are aircraft controlled remotely and equipped with advanced automation or predefined flight plans, eliminating the necessity for onboard pilots. These adaptable aerial platforms serve diverse purposes across numerous military sectors, including environmental monitoring, search and rescue missions, reconnaissance, disaster management, border surveillance, and tracking activities.

What will be the size of the Hyperspectral Remote Sensing Market During the Forecast Period?

To learn more about this hyperspectral remote sensing market analysis report,  Request Free Sample

Hyperspectral Remote Sensing Market Segmentation 

Bu Type Analysis Insight:

The market share growth by the VNIR segment will be significant during the forecast period. For remote monitoring, hyperspectral imaging (HSI) is preferred. Instruments change to accommodate new uses and consistent specification, testing, characterization, and calibration due to applications that change quickly.  Most VNIR HSI instruments use either a charge-coupled device (CCD) or a complementary metal oxide semiconductor (CMOS) focal plane array (FPA) both converting incoming light into an electrical charge and then a voltage. It is then amplified and converted to a digital signal by an analog-to-digital (A/D) converter. 

Get a Customised Report as per your requirements for FREE!

The VNIR segment was valued at USD 52.20 million in 2018. VNIR is used for precision agriculture and forestry to provide real-time or near-real-time information like soil moisture content. This can be used to direct other decisions such as applying the right amount of water and chemicals to the required place of the terrain. Thus, applications in the effective analysis and solving of agricultural problems are likely to propel this segment of the market during the forecast period. 

By Application Analysis Insights:

Hyperspectral remote sensing has many uses in the agriculture segment and is the largest segment in the global market during the forecast period. The market growth is due to the usage of remote sensors for crop forecasting, precision farming, horticulture, irrigation management, and watershed development. It is necessary for precision agriculture as the placement of small and light sensors on UAVs, can help agriculturalists know further about crop and soil conditions and the presence of hard-to-detect diseases. This additional knowledge can be vital in the proper conservation and monitoring of forest health, resulting in strong hyperspectral remote sensing market growth during the forecast period.

Regional Analysis

For more insights on the market share of various regions View PDF Sample now!

North America is estimated to contribute 30% to the growth by 2027. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period.  The US is the largest market in this region due to the adoption of technologies for aerial remote sensing applications. The increasing US government expenditure in aerospace and defense shall boost the market, especially through applications like surveillance. There is also predicted to be further market demand from the agriculture sector to support the ever-expanding food and beverages market. Applications of remote sensors in the mining sector for more effective identification of minerals are helping in resource identification across the entire terrain by automated testing equipment and will propel the growth of the market during the forecast period.

Hyperspectral Remote Sensing Market Dynamics and Customer Landscape

The Hyperspectral Remote Sensing market is experiencing significant growth, fueled by advancements in industrial imaging research and the adoption of hyperspectral imaging technology across various sectors, including healthcare, military & surveillance, environmental testing, and mining & mineralogy. With applications ranging from healthcare operations to security and surveillance, handheld hyperspectral sensors are revolutionizing data collection and analysis, particularly in fields like lung and bronchus cancer detection.

Organizations like the American Cancer Society and the World Health Organization recognize the potential of hyperspectral imaging in enhancing diagnostic capabilities and improving patient outcomes. Moreover, with the integration of artificial intelligence and machine learning, hyperspectral remote sensing enables efficient digitalization of processes and analysis of complex datasets. Despite challenges such as raw material shortage and economic slowdown, companies like TagMaster and Diaspective Vision are driving innovation in the market through automation research and the development of advanced hyperspectral imaging solutions. Our researchers studied the data for years, with 2023 as the base year and 2024 as the estimated year, and presented the key drivers, trends, and challenges for the market.    

Key Hyperspectral Remote Sensing Market Driver

The rising adoption of UAVs is fueling the expansion of the Hyperspectral Remote Sensing Market. UAVs, or Unmanned Aerial Vehicles, represent remote-controlled aircraft equipped with sophisticated automation systems or pre-defined flight plans, eliminating the need for onboard pilots. These versatile aerial platforms find extensive utility across various military domains, including environmental monitoring, search and rescue missions, reconnaissance, disaster management, border surveillance, and tracking activities. In response to the escalating demand for UAV-based applications, companies are scaling up their efforts in the development of remote sensors. These sensors enable UAVs to capture detailed spectral information across a wide range of wavelengths, facilitating enhanced data collection and analysis capabilities for diverse operational requirements. As UAV deployments continue to proliferate across military and surveillance sectors, coupled with advancements in imaging technology, the Hyperspectral Remote Sensing Market is poised for robust growth. This trend underscores the critical role of UAVs in expanding the application scope and capabilities of remote sensing, driving innovation and market expansion in the foreseeable future.

Additionally, recent models are more affordable, resulting in heavy commercialization as well as deployment for defense applications such as ISR. The ability to create accurate spectral and spatial data within the field of view (FOV) results in a reduction in the number of passes over the land. Moreover, the light detection and ranging (LiDAR), GPS, and the post-processing job of orthorectification ensure image accuracy making it useful for better decision-making, contributing to the growth of the market during the forecast period. 

Significant Hyperspectral Remote Sensing Market Trends

The availability of narrower bandwidths is a key trend in the market. Narrow bandwidths enable users to gather laboratory-standard radiation from greater distances and analyze the data using spectral-based analysis techniques. This allows users to remotely sense the earth, unlike traditional cognitive remote sensing mapping which had a bandwidth of approximately 10 nm.

Moreover, narrower bandwidths are expanding the applicability of remote sensors from geology to newer applications like assessment of vegetation fluorescence which requires bandwidths of about 1 nm. Hence, spatial spectroscopy from greater distances is improving the scope of hyperspectral remote sensors and is predicted to positively impact the growth of the market during the forecast period. 

Major Hyperspectral Remote Sensing Market Challenge

High capital investment is challenging hyperspectral remote sensing market growth. Massive capital investments are required to keep pace with rapidly evolving technological demands in the imaging systems market. Technological advances have produced highly sophisticated electronic goods that require special types of imaging sensors for inspection and correction that are highly capital intensive.

However, such investment might be viewed as extremely risky due to the benefits of such efforts being received in the long run, limiting the growth of hyperspectral imaging. This might leave several companies at a disadvantageous position in comparison to a few larger competitors. Hence, such factors shall hinder the growth of the market during the forecast period.

Who are the Major Market companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

BaySpec Inc. - The company offers hyperspectral remote sensing such as BaySpecs OCI UAV hyperspectral imagers.

Brimrose Corp. of America - The company offers hyperspectral remote sensing such as AOTF hyperspectral imaging system.

We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:

• CI Systems
• Corning Inc.
• Cubert GmbH
• Galileo Group Inc.
• Headwall Photonics Inc.
• IMEC Inc.
• Konica Minolta Inc.
• L3Harris Technologies Inc.
• Norsk Elektro Optikk AS
• Northrop Grumman Corp.
• Photonis Technologies SA
• Quantum Design Inc.
• Resonon Inc.
• SpecTIR LLC
• Surface Optics Corp.
• Teledyne Technologies Inc.
• TruTag Technologies Inc.
• XIMEA GmbH

Technavio's hyperspectral remote sensing market report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.  

Segment Overview

The hyperspectral remote sensing market industry report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Million" for the period 2024 to 2028, as well as historical data from 2018 to 2023 for the following segments.

• Type Outlook 
  • VNIR
  • SWIR
  • Thermal LWIR

• Application Outlook 
  • Agriculture and forestry
  • Geology and mineral exploration
  • Ecology
  • Disaster management

• Region Outlook 
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa
  • South America
    • Argentina
    • Brazil
    • Chile

Market Analyst Overview: 

The relays market plays a crucial role across various sectors including Defense & Security, Healthcare sector, and Industrial Inspection. In the Defense sector, relays are essential for Unmanned Aerial Vehicle (UAV) operations, ensuring reliable communication within Wireless Sensor Networks (WSNs). Defense organizations depend on advanced detector designs and the electromagnetic spectrum to enhance security measures against terrorist acts. Emerging technologies like remote sensing UAV, hyperspectral remote sensing system, multispectral sensors, and spectrographs are integral for applications in commercial enterprises, financial services industry, and life sciences & medical diagnostics.

Moreover, in the food & beverage industry, relays help manage shipping delays and maintain efficient supply chains. Longwave Infrared (LWIR) and Shortwave-Infrared (SWIR) technologies, coupled with Visible Near-Infrared (VNIR) sensors, bolster industrial inspection and satellite imaging capabilities. Companies like Surface Optics Corporation are at the forefront of these innovations, supported by policies from entities like the Secretary of Defense. As the market expands in emerging economies, addressing cost concerns and mitigating impacts from global disruptions remains paramount. Such factors will drive hyperspectral remote sensing market growth during the forecast period.

Request PDF sample

What are the Key Data Covered in this Hyperspectral Remote Sensing Market Forecast Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting of the market between 2024 and 2028
• Precise estimation of the market size and its contribution to the parent market
• Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
• Growth of the market across Europe, North America, APAC, South America, and Middle East and Africa
• Thorough market growth analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive market analysis and report on the factors that will challenge the market research and growth of market companies

We can help! Our analysts can customize this hyperscale remote sensing market research report to meet your requirements. Get in touch