Remote Sensing Services Market to Surpass USD 51.87 Billion by 2032 | Riding on a Strong 14.80% CAGR

The global remote sensing services market size is expected to reach USD 51.87 billion by 2032, according to a new study by Polaris Market Research. The report “Remote Sensing Services Market Share, Size, Trends, Industry Analysis Report, By Application (Agriculture, Engineering & Infrastructure, Environmental & Weather, Energy & Power, Transportation & Logistics, and Others); By Platform; By Technology; By Region; Segment Forecast, 2024 – 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

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Rapidly increasing adoption of space-based technologies such as space-based intelligence, reconnaissance, and surveillance capabilities among advanced nations and growing investments to develop enhanced space-based satellite constellations, which allow them to command and control the forces, are key factors influencing the global market growth.

Additionally, the rising prevalence towards the combination of several data sources and faster analysis worldwide, have further led to remote sensing satellite gaining more traction and significance for carting wide range of applications. For instance, in October 2022, Russia, launched ‘GLONASS-K, from the Plesetsk Cosmodrome station, by using a Soyuz-2.1b launch vehicle. The newly launched satellite is weighed 950 kilograms and is designed to be operated for at least 10 years, and working as a satellite navigation system.

Several new business models globally are emerging as a broad range of solutions and services enabled by sensor data obtained through satellites, drones, and aircraft. The rapid advent of start-ups taking benefits and advantages of improved and better technology and are also substantially reducing the cost of launching satellites, that makes these services more accessible beyond government and military. This sensing technology has rapidly advanced and gained prevalence across the world in terms of radiometric, spatial, & spectral resolution.

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The possibility of increase in the number of upcoming missions with higher spatial & spectral resolution sensors in the orbit, will boost the utility of hyperspectral data in various research domains and will stimulate the number of users of HIS, that positively contributing towards the market growth.

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Remote Sensing Services Market Report Highlights

  • Defense & security segment accounted for highest market share in 2022, on account of growing adoption of advanced technology to monitor criminal and descriptive activities
  • UAVs segment is anticipated to grow at a high CAGR during the forecast period, which is highly accelerated to high advances in technologies and data systems globally
  • Passive remote sensing segment held the majority market revenue share in 2022, mainly due to its increasing prevalence to measure the sunlight from the earth surface and providing high-quality pictures
  • North America region dominated the global market with largest share in 2022, owing to quick adoption of innovated technology and highly growing investments towards the development of defense sector across the region
  • The global key market players include Orbital Insight, General Dynamics Mission Systems, Lockheed Martin, Hexagon, Maxar Technologies, and L3 Harris Technologies

Key Features and Drivers:

Technological Advancements in Remote Sensing:
Continuous advancements in remote sensing technologies, including satellite sensors, aerial platforms, and LiDAR systems, have enhanced the spatial resolution, spectral resolution, and temporal frequency of remote sensing data. These technological improvements enable more detailed and accurate data collection, supporting a wide range of applications across industries.

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Growing Demand for Geospatial Information:
There is a growing demand for geospatial information and analytics-driven insights across various sectors, driven by the need for informed decision-making, resource optimization, and risk management. Remote sensing services play a crucial role in providing timely and accurate data for applications such as land use planning, environmental monitoring, disaster response, and infrastructure development.

Increasing Adoption of Satellite Imagery:
Satellite imagery has become increasingly accessible and cost-effective, leading to a surge in its adoption by governments, businesses, and research organizations for diverse applications. Remote sensing services leverage satellite imagery to monitor environmental changes, assess crop health, map natural resources, and track urban development, among other applications, driving market growth.

Applications:

Environmental Monitoring and Management:
Remote sensing services are used for monitoring and assessing environmental changes, including deforestation, land degradation, water quality, and biodiversity loss. These services provide valuable insights into ecosystem health, habitat conservation, and environmental impact assessments, supporting sustainable resource management practices.

Agriculture and Precision Farming:
Remote sensing technologies are employed in agriculture for crop monitoring, yield prediction, precision farming, and water management. Remote sensing services offer farmers and agricultural professionals actionable insights into crop health, soil moisture levels, pest infestations, and nutrient deficiencies, enabling optimized resource allocation and increased productivity.

Urban Planning and Infrastructure Development:
Remote sensing data is utilized in urban planning, infrastructure development, and land use management to assess urban growth, monitor transportation networks, and analyze urban sprawl. Remote sensing services facilitate urban planners, city officials, and policymakers in making informed decisions regarding infrastructure investments, zoning regulations, and sustainable urban development strategies.

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Polaris Market Research has segmented the remote sensing services market report based on application, platform, technology, and region:

Remote Sensing Services, Application Outlook (Revenue – USD Billion, 2019 – 2032)

  • Agriculture
  • Engineering & Infrastructure
  • Environmental & Weather
  • Energy & Power
  • Transportation & Logistic
  • Defense & Security
  • Maritime
  • Insurance
  • Academic & Research
  • Others

Remote Sensing Services, Platform Outlook (Revenue – USD Billion, 2019 – 2032)

  • Satellite
  • UAVs
  • Manned Aircraft
  • Ground

Remote Sensing Services, Technology Outlook (Revenue – USD Billion, 2019 – 2032)

  • Active Remote Sensing
  • Passive Remote Sensing

Remote Sensing Services, Regional Outlook (Revenue – USD Million, 2019-2032)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

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