Remote Sensing Satellite Market Analysis

Global Remote Sensing Satellite Market Overview

Remote Sensing Satellite Market Size was valued at USD 16.12 billion in 2023. The Remote Sensing Satellite market industry is projected to grow from USD 17.92544 billion in 2024 to USD 37.67 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 9.72% during the forecast period (2024 - 2032). Remote sensing satellite demand is expected to increase over the forecast period due to market drivers like rising earth observation projects.

Source Secondary Research, Primary Research, MRFR Database and Analyst Review

• Increased use of remote sensing satellites in earth observation projects is driving the market growth

The earth's surface may be learned about, and its physical features can be examined using remote sensing technology. Without making direct touch with the surface under study, it makes use of light that is emitted and reflected by aircraft and satellites. The industry is primarily being stimulated by the rising number of earth observation programs being undertaken by different space organizations. To give one example, the Indian Space Research Organization (ISRO) has launched thirteen earth observation satellites to date and intends to launch ten more in 2020 and 2021. In many facets of life, remote sensing technology is utilized to collect data and information about the Earth's surface and atmosphere. By offering data on crop health, soil properties, and moisture levels, remote sensing technology helps crop management. Utilizing this information will help you utilize fertilizer and irrigation more effectively, conserve water, and increase crop yields. Additionally, to map the forest cover, evaluate the health of the forest, and keep track of deforestation, remote sensing technology is used. This knowledge aids in the management and planning of forests as well as in the suppression of wildfires. Natural resources, including oil, minerals, and water, are identified and monitored using remote sensing technologies. This aids in the investigation and administration of these resources. As a result, the worldwide remote sensing satellite market CAGR is expanding due to soaring demand for monitoring purposes.

Additionally, future market growth for Remote Sensing satellites is anticipated to be driven by the surveying application. Remote sensing technology has developed significantly, offering a variety of outstanding surveying methods with many benefits. Remote sensing data can be used and analyzed in a variety of applications, and this technology can survey large, inaccessible areas. For example, information gathered by remote sensors intended to inspect a building site can also be used to evaluate and design new roadways. It is possible to monitor biodiversity using the same forest data that is used to determine the likelihood of natural disasters like wildfires. The functionality of remote sensing is now being improved by numerous ongoing studies. The Resilient Infrastructure and Disaster Response (RIDER) Centre of the FAMU-FSU College of Engineering is conducting additional research to determine how to more accurately predict the locations where road blockage will be most severe following tropical cyclones. This study is especially important because advances in remote sensing technology have improved hurricane preparedness. Thus, driving the Remote Sensing Satellite market revenue.

Remote Sensing Satellite Market Segment Insights

• Remote Sensing Satellite Type System

The remote sensing satellite market segmentation, based on the system, includes SATCOM, radar, EO/IR, and others. The SATCOM category held the largest share. Government organizations that are committed to guaranteeing the efficient acquisition of intelligence imagery to answer the changing security concerns have made considerable investments in the usage of space-based radar technology. For many defense agencies, the sole resource that can capture and distribute photos of numerous important locations inclement weather or total darkness is satellite-based SARs. As a result, during the projection period, a sizeable portion of defense spending will go into the development and acquisition of satellite-based SARs.

• Remote Sensing Satellite Application Insights

The remote sensing satellite market segmentation, based on application, includes earth observation, telecommunication, meteorology, mapping & navigation, and others. In 2022, the meteorology category had the highest market share (32.25%). This is a result of industrialized nations using technology more and more to keep an eye on and stop illegal and destructive activity. Important information on natural disasters like storms and volcano eruptions is made available via technology. Authorities can make better decisions about evacuations and post-disaster operations thanks to the availability of continuously updated data. Infrastructure, weather, agricultural and living resources, and other things are included in the application segment.

• Remote Sensing Satellite End-User Insights

The Remote Sensing Satellite market segmentation, based on end-user, includes defense, commercial. The defense category held the largest share. In the military, remote sensing satellites are employed for a variety of crucial tasks, such as research, meteorology, geodesy, and reconnaissance. The market for military satellites is now valued at about $15 billion. Due to the rising demand for satellite intelligence around the world, it is anticipated that it will prosper in the years to come as well.

Figure 1:  Remote Sensing Satellite Market, by End-User, 2022 & 2032 (USD million)

Source Secondary Research, Primary Research, MRFR Database and Analyst Review

• Remote Sensing Satellite Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Remote Sensing Satellite market area will dominate this market. Over the forecast period, the remote sensing satellite market is anticipated to flourish as a result of remote sensing technologies in precision agriculture.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: REMOTE SENSING SATELLITE MARKET SHARE BY REGION 2022 (%)

Source Secondary Research, Primary Research, MRFR Database and Analyst Review

The Asia-Pacific Remote Sensing Satellite Market is expected to grow at the fastest CAGR from 2023 to 2032. The increased use of earth observation applications for infrastructure development is mostly to blame for this trend. Satellites are being launched by nations like China, India, and Japan to enhance their ability to observe the world and support growth. In the next two years, the Indian Space Research Organization (ISRO) expects to launch ten more Earth monitoring satellites. Moreover, the China Remote Sensing Satellite market held the largest market share, and the India Remote Sensing Satellite market was the fastest growing market in the Asia-Pacific region.

Europe Remote Sensing Satellite market accounts for the second-largest market share. The market is dominated by nations in Western Europe like Germany, France, the UK, Spain, and Italy. Europe is expected to increase due to initiatives to observe the Earth being undertaken by more and more space agencies. Further, the UK Remote Sensing Satellite market held the largest market share, and the Germany Remote Sensing Satellite market was the fastest growing market in the European region.

Remote Sensing Satellite Key Market Players& Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Remote Sensing Satellite market grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Remote Sensing Satellite industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Remote Sensing Satellite industry to benefit clients and increase the market sector. In recent years, the Remote Sensing Satellite industry has offered some of the most significant advantages to medicine. Major players in the Remote Sensing Satellite market attempting to increase market demand by investing in research and development operations are Antrix Corporation (India), Geo Sense (Malaysia), DigitalGlobe (US), Satellite Imaging Corporation (US), Mallon Technology (UK), EKOFASTBA (Spain), Remote Sensing Solutions (Germany).

digital Globe is an American company that operates remote-sensing spacecraft for the benefit of the general public and sells geospatial data and space images. The firm was listed on the New York Stock Exchange on May 14, 2009, selling 14.7 million shares at a price of $19.00 apiece to raise US$279 million in capital. Digital Globe was fully acquired by Maxar Technologies on October 5, 2017. A constellation of five electro-optical earth imaging satellites is run by digital Globe. On October 18, 2001, the business launched its first satellite.

Antrix Corporation Limited (ACL) a Bengaluru-based company that is completely owned by the Government of India. As the marketing arm of ISRO, Antrix Corporation Limited was established in September 1992 as a private limited corporation owned by the Government of India. Its goals included the promotion and commercial exploitation of space products, technical consulting services, and the transfer of technologies created by ISRO. Facilitating the growth of India's space-related industrial capabilities is another important goal. Antrix works to provide Space goods and services to clients internationally and ly. Antrix offers end-to-end solutions for many space products, including the supply of hardware and software, simple subsystems to complex spacecraft, for a variety of applications covering communications, earth observation, and scientific missions; space-related services, such as remote sensing data service, transponder lease service; launch services through the operational launch vehicles (PSLV and GSLV); and mission support services.

Key Companies in the Remote Sensing Satellite market include

• Antrix Corporation (India)


• Geo Sense (Malaysia)


• DigitalGlobe (US)


• Satellite Imaging Corporation (US)


• Mallon Technology (UK)


• EKOFASTBA (Spain)


• Remote Sensing Solutions (Germany)

Remote Sensing Satellite Industry Developments

For Instance, December 2021 Sentinel-6B, Airbus' second oceanographic satellite, has been completed. The satellite was designed to determine the distance to the ocean's surface with a few centimeters of precision. The satellite's primary functions include measuring sea surface height, tracking changes in sea level, and analyzing and observing ocean currents.

For Instance, January 2022 A successful static test of a precision attack missile rocket motor was accomplished by Northrop Grumman Corporation. The company's engine design needed to be validated for manufacturing through the rocket motor test. Modern, effective production facilities for tactical solid rocket motors are made more accessible and affordable by the company's investment in digital technology.

Remote Sensing Satellite Market Segmentation

Remote Sensing Satellite System Outlook

• SATCOM


• Radar


• EO/IR


• Others

Remote Sensing Satellite Application Outlook

• Earth Observation


• Telecommunication


• Meteorology


• Mapping & Navigation


• Others

Remote Sensing Satellite End-User Outlook

• Defense


• Commercial

Remote Sensing Satellite Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America