Remote Sensing Satellite Market Pegged to Expand Robustly

September 5, 2018 | Author: | Posted in Business

Global Remote Sensing Satellite Market – Overview

The global remote sensing satellite market is growing with the rapid pace. According to a recent study report published by the Market Research Future, The global market of remote sensing satellite market will grow at a rapid pace over the forecast period. The market is forecasted to witness slow but steady growth by 2021, which will be a surplus growth at a moderate CAGR during the projected period (2017 -2021).  

The high demand for remote sensing satellite market is due to the growth in the satellite communication. This increases in the participation of countries in the field of remote sensing satellite market. Moreover, the revolution from aerial photography to multi-spectral satellite imaging that are helpful for the distinguishing and characterizing earth and atmosphere features. The rapid technology advancement along with the increased focus of OEMs on providing remote sensing system is expected to add to the growth of the market. However, cost associated with satellite launch and complexities attached to its integration with several platforms act as a barrier to the growth of remote sensing satellite market.\

The remote sensing satellite market is completely dependent on the versatile applications related to mapping and monitoring earth’s surface. Thus, the increasing or decreasing demand for the remote sensing applications has an impact on the market. Moreover, the factor responsible for the growth of remote sensing satellite market is demand for growing investment on satellite communication and ISR payloads, and the growing need for advanced optical imaging systems. This is the primary factor that drives the growth of the global remote sensing satellite market and has gained prevalence in the recent times, with the usage of best in class technologies in space application. Thus, the growth of the remote sensing satellite market is expected to go hand in hand with the growth of investment in the satellite communication technologies.

Remote sensing satellite market is widely used in different sectors as per their application. For instance, in defense sector, the significant developments of satellite communication has bolster the market. The SATCOM is widely used and comprises of largest market share due to the growing need for earth observation satellites. It is widely used for monitoring of the Earth’s surface to obtain important data for mapping, mineral exploitation, land-use planning, resource management and other activities. Similarly, in agriculture sector, the growing utility of remote sensing satellites applications such as crop area and production estimation, soil mapping and farm advisories might have bolster the need for remote sensing satellites across the globe.

Global Remote Sensing Satellite Market – Segmentation

The global remote sensing satellite market is segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;

Segmentation by System: Comprises SATCOM, Radar, EO/IR and Others

Segmentation by Application : Comprises Earth Observation, Telecommunication, Meteorology, Mapping and Navigation and Others

Segmentation by End User : Comprises Defense and Commercial

Segmentation by Regions : Comprises Geographical regions – North America, Europe, Asia-Pacific, Middle East & Africa and South America.

Key Players:

Airbus S.A.S (France), Ball Corporation (U.S.), Boeing (U.S.), Space Exploration Technologies Corporation (U.S.), Thales Group (French), China Aerospace Science and Technology Corporation (China), Lockheed Martin Corporation (U.S.), Mitsubishi Electric Corporation (Tokyo), Orbital ATK Inc. (U.S.) and Planet Labs Inc. (U.S.)    and others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global Remote Sensing Satellite market

Global Remote Sensing Satellite Market: Regional Analysis

European region is dominating the market of global remote sensing satellite market due to continuous advancements in the usage of new frequencies, signal transmission techniques, and effective terminals. North America market is referred to as the second-largest remote sensing satellite market due to factors such as growing investments in various military and commercial satellites programs have fuelled the demand for global remote sensing satellite market. The market in the North American is largely driven by increasing demand for remote sensing services in various sectors such as Oil & Gas, mineral exploration, energy and power, which helps in growth of global remote sensing satellite market.

Browse Complete Report@  https://www.marketresearchfuture.com/reports/remote-sensing-satellite-market-1659 

Please follow and like us:
0
About Author
About Market Research Future: At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Edibles.

Author:

This author has published 54 articles so far. More info about the author is coming soon.

Leave a Reply

Enjoy this blog? Please spread the word :)