Global Remote Sensing Satellites Market Report 2022 – 2027: Earth Observation Segment is Expected to Lead the Market
DUBLIN, March 2, 2023 /PRNewswire/ — The “Remote Sensing Satellites Market – Growth, Trends, COVID-19 Impact, and Forecasts (2022 – 2027)” report has been added to ResearchAndMarkets.com’s offering.
The Remote Sensing Satellites Market was valued at USD 2.59 billion in current year, registering a CAGR of 4.7% during the forecast period.
- Airbus SE
- Ball Aerospace & Technologies Corp.
- The Boeing Company
- ImageSat International N.V.
- Maxar Technologies Ltd.
- Mitsubishi Electric Corporation
- Planet Labs, Inc.
- Satellite Imaging Corporation (SIC)
- Thales Group
- UrtheCast Corp.
- Lockheed Martin Corporation
- Northrop Grumman Corporation
Key Market Trends
Earth Observation Segment is Expected to Lead the Market
The regional conflicts, rapid deployment, and flexible response impose a heavy burden on military commanders, their staff, and supporting system to keep abreast with the situation on the ground about enemy activities. Spatial data is crucial for informed decision-making in the defense sector, and it assists in diverse strategic activities such as battlefield simulation, mission briefing, and communications planning, logistics management, and command control.
Remotely sensed satellite images and data include spectral, spatial, and temporal resolutions. Geographic Information Systems (GIS) also allows military land and facilities managers to reduce base operation and maintenance costs, improve mission effectiveness, provide rapid modeling capabilities for analyzing alternative strategies, improve communication, and store institutional knowledge.
Advanced nations, such as the US, China, and Russia have reorganized their militaries to adopt space-based technologies such as space-based intelligence, surveillance, and reconnaissance (ISR) capabilities. Several nations are making significant investments to develop space-based satellite constellations that would enable them to command and control their forces worldwide and also with enhanced situational awareness, enabling them to monitor, track, and target hostile forces.
Earth Observation satellites are used for Earth observation from orbit. The satellites are also used to monitor spy satellites and other similar satellites for non-military purposes such as environmental monitoring.
With an increased budget and rising spending capabilities, multiple new projects have been announced to monitor the earth better. For instance,
In January 2022, NASA announced the planned launch of 4 Earth science missions in 2022. These missions are anticipated to provide scientists with new data on core climate systems and processes, including extreme storms, surface water and oceans, and atmospheric dust.
Similarly, the Indian Space Research Organization (ISRO), in August 2022, launched a new Earth Observation Satellite (EOS) to be used for multiple purposes across the users in the country. This satellite was also preceded by the country’s EOS 4 in February 2022. These satellites were named ‘eye in the sky’, showcasing their observational capabilities.
Technological companies across the world have been investing in improving the existing earth monitoring capabilities to provide better services to the users on the surface. Owing to this, the need for better observation satellites is expected to grow during the coming years. For instance,
In October 2021, Satellite data provider Planet announced its plans to launch a new fleet of orbiting satellites. The company already operates 200 Earth observation satellites from space and is aiming to launch a new fleet of satellites called Pelican by 2023. This new fleet of satellites will be used for mapping services across the world. Multiple use cases, along with a broad range of industries that find utilization using earth observation satellites, are expected to lead the market during the forecast period.
North America is Expected to Dominate the Market During the Forecast Period
The United States has become a global power in space technology due to the technological advancements made by the National Aeronautics and Space Administration (NASA). The increasing utilization of various kinds of satellites for multiple purposes has generated significant demand across the United States and, consequently, across the world.
The country’s military is a global firepower and generates significant market growth opportunities across various segments in the remote sensing satellites market. Owing to the demand for various networks, navigation, and entertainment purposes, various satellites are being launched across the country, increasing the market demand. For instance,
In August 2022, Northrop Grumman, in partnership with Lockheed Martin Corporation, designed and built the mission payload of the Space Based Infrared System Geosynchronous Earth Orbit (SBIRS GEO)-6 satellite. This satellite will be used by the United States military for mapping and surveillance purposes, creating fantastic future opportunities. Owing to this, the United States has been launching new communication and media satellites. For instance,
In October 2022, SpaceX’s Falcon 9 Heavy launched 2 new satellites, Galaxy 33 and Galaxy 34 of Intelsat. These new satellites equipped with new technology will provide Intelsat Media customers in the region with high-performance media distribution capabilities.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter’s Five Forces Analysis
5 MARKET SEGMENTATION (Market Size by Value – USD billion)
5.1.1 Earth Observation
5.1.3 Mapping and Navigation
5.3.1 North America
18.104.22.168 United States
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
188.8.131.52 South Korea
184.108.40.206 Rest of Asia-Pacific
5.3.4 Latin America
220.127.116.11 Rest of Latin America
5.3.5 Middle-East and Africa
18.104.22.168 United Arab Emirates
22.214.171.124 Saudi Arabia
126.96.36.199 Rest of Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/hvhj1s
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