The Global Remote Sensing Technology Market was valued at USD 15,560 million in 2021 and expected to grow at a CAGR of 12.5%, generating USD 44,900 million during the forecast period (2022–2030). Remote Sensing detects and monitors the physical characteristics of an area; remote Sensing uses electromagnetic (EM) radiation from Earth's terrestrial, atmospheric, and aquatic ecosystems. Aerial and satellite sensors collect data in this way. Surrounding objects or the surrounding environment reflect or emit radiation in response to external stimuli. Radiation measured by passive remote Sensing is reflected chiefly in sunlight. Active sensors collect data by scanning objects and areas with energy before measuring the reflected power.
A new sensor design is revolutionizing Remote Sensing and GIS. It's used for mapping and data distribution. Distance-based remote Sensing extracts spatially precise water and land surface characteristics from satellite or aircraft images. The GIS data is then analyzed, managed, stored, and displayed. In remote Sensing, variables like temperature and humidity can be measured. Geospatial data from remote Sensing and other sources are combined with demographic and socioeconomic data using GIS. A global environment database can be created faster using advanced image processing algorithms. Human-caused or natural disaster-caused environmental threats are growing in number. Modern civilization depends on timely and effective ecological risk assessment and management. As a result, geo-referenced reports and maps can be used to create comprehensive environmental solutions. Geospatial information systems and remote sensing technologies help decision-makers and scientists better manage ecological threats. Remote Sensing and GIS will become increasingly important as global industrialization, and population growth put pressure on the planet's environment.
As per the statistics reported by the Union of Concerned Scientists (UCS), by January 2021, approximately 6500 earth observation satellites were orbiting the globe.
The COVID-19 pandemic has harmed many industries. Therefore, stakeholders and governments demand strategies to restore normalcy while fighting the pandemic. However, governments and businesses involved in the satellite and space industries react differently. However, using historical remote sensing data as a baseline and then tracking the economic, environmental, and societal impacts of the pandemic outbreak, airborne and satellite data can help detect indirect pandemic impacts.
The Targeted Remote Sensing Technology Market is further segmented into Technology, Platform, and Application:
By Technology, the passive sensing technology segment held the largest market share in 2021 and is expected to grow at a CAGR of 13% between 2022 and 2030.
By Platform The aerial systems segment held the largest market share in 2021 and is anticipated to grow at a CAGR of 13.5% from 2022 to 2030.
By Application, the military and intelligence sector captured more than a quarter of the remote sensing technology market, which is expected to grow at a CAGR of 11.5% between 2022 and 2030.
North America to Dominate the Global Market in Remote Sensing Technology
During the forecasted period 2022-2030, North America will exhibit a CAGR of approximately 10% and maintain its dominance over the other global markets. This portion of the market is attributable to market leaders such as Esri, General Dynamics Mission Systems, Lockheed Martin, and Raytheon Technologies. Utilizing remote sensing technology in precision agriculture is anticipated to fuel market expansion. The Technology enables water resource managers to reduce dry spells and match crop irrigation needs.
Asia-Pacific is anticipated to experience a substantial CAGR of over 14%. This is because infrastructure development increasingly employs earth observation applications. China, India, and Japan are launching satellites to enhance their earth observation capabilities and development aid.
The key players in the Global Remote Sensing Technology Market are:
This report forecasts industry growth at global, regional & country levels and provides an in-depth analysis of the latest trends in each sub-segments and quantitative data from 2017 to 2030, with 2021 considered the base year. In this study, Straits Research has segmented the global remote sensing technology market report based on the mode of Technology, Platform, Application and regions.
Asia-Pacific
North America
Latin America
Europe
The Middle East and Africa