The remote sensing satellite market size has the potential to grow by USD 4.64 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.
This report provides a detailed analysis of the market by system (space-based radar, SATCOM, and space-based EO/IR) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Airbus SE, Ball Corp., ImageSat International NV, Lockheed Martin Corp., Maxar Technologies Inc., Northrop Grumman Corp., Planet Labs Inc., Satellite Imaging Corp., Thales Group, and The Boeing Co.
Market Overview
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Market Competitive Analysis
The remote sensing satellite market is concentrated. The vendors in the global remote sensing satellite market compete in terms of cost, reliability, and technological innovations. At the same time, vendors are solely dependent on securing key contracts from various defense organizations as there is a limited number of defense organizations across the world. Therefore, the competition among vendors in the market is moderate. Airbus SE, Ball Corp., and ImageSat International NV are some of the major market participants. Although the use of remote sensing satellites in mapping forest biomass will offer immense growth opportunities, the technological complexities of EO/IR sensors will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market position, this remote sensing satellite market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this remote sensing satellite market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
This report provides information on the production, sustainability, and prospects of several leading companies, including:
- Airbus SE
- Ball Corp.
- ImageSat International NV
- Lockheed Martin Corp.
- Maxar Technologies Inc.
- Northrop Grumman Corp.
- Planet Labs Inc.
- Satellite Imaging Corp.
- Thales Group
- The Boeing Co.
Remote Sensing Satellite Market: Segmentation by Geography
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APAC will offer several growth opportunities to market vendors during the forecast period. The enhancement of the capabilities of combatants for both space and airborne imaging platforms will significantly drive remote sensing satellite market growth in this region over the forecast period.
36% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for remote sensing satellites in APAC. Market growth in this region will be faster than the growth of the market in other regions.
Remote Sensing Satellite Market: Segmentation by System
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The use of the space-based radar system has gained significant investments from government agencies that are focused on ensuring the effective acquisition of intelligence imagery to address the evolving security concerns. Satellite-based SARs are the only available resource for many defense agencies, which can acquire and disseminate images of various strategic areas in inclement weather conditions or complete darkness. Therefore, a significant share of defense procurement will be directed toward the development and procurement of satellite-based SARs during the forecast period.
However, market growth in the space-based radar segment will be slower than the growth of the market in the SATCOM and space-based EO/IR segments. This report provides an accurate prediction of the contribution of all the segments to the growth of the remote sensing satellite market size.
Remote Sensing Satellite Market: Key Drivers and Trends
The remote sensing satellite market will grow at a CAGR of almost 7% during the forecast period. The use of remote sensing satellites in mapping forest biomass is identified as one of the primary growth factors for this market. The European Space Agency (ESA) and Airbus Defense and Space signed a contract worth almost USD 255 million to develop a biomass satellite, which is expected to be launched in 2021. The satellite will offer high-resolution images and data of global forest carbon maps. The satellite can penetrate the canopy in the forest area while interacting with the vegetation elements. SAR can measure the overall height of the forest area by using a single satellite. The P-band SAR can provide information in three different views such as PoISAR (SAR Polarimetry), PoIInSAR (Polarimetric SAR Interferometry), and TomoSAR (SAR Tomography) and estimate the height of the forest. Such advantages will drive the growth of the remote sensing satellite market during the forecast period.
The introduction of inflatable SATCOM antennas that are designed for ground military use in remote areas and harsh weather conditions is one of the significant developments in the military sector. These antennas are deployed at locations wherein the movement and installation of standard rigid satellite antennas are challenging. One of the popular companies GATR Technologies signed a 440 million USD contract with the US Army to offer portable, lightweight, and quick-setup, inflatable SATCOM antennas for the Warfighter Information Network-Tactical (WIN-T) services that would assist in network-centric warfare. These GATR inflatable antenna systems are lightweight and small in size and are reliable in extreme environments.
Remote Sensing Satellite Market: Key Highlights of the Report for 2020-2024
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will drive remote sensing satellite market growth during the next five years
- Precise estimation of the remote sensing satellite market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the remote sensing satellite industry across APAC, Europe, MEA, North America, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of remote sensing satellite market vendors
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