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Remote Sensing Services Market | Acumen Research and Consulting

Remote Sensing Services Market Analysis - Global Industry Size, Share, Trends and Forecast 2022 - 2030

Published : Jun 2022

Report ID: ARC2977

Pages : 250

Format : Remote Sensing Services Market Analysis - Global Industry Size, Share, Trends and Forecast 2022 - 2030

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The Global Remote Sensing Services Market size accounted for USD 17,997 Million in 2021 and is projected to reach a market size of USD 64,375 Million by 2030 growing at a CAGR of 15.2%.

According to our remote sensing services industry analysis, the rising number of earth observation projects is fueling market growth. One of the prominent remote sensing services market trends includes the significant demand in the cloud computing industry. Additionally, growing technological advancements in remote sensing technologies is another trend that is expanding the remote sensing services market revenue.

Remote Sensing Services Market is projected to reach a market size of USD 64,375 Million by 2030 growing at a CAGR of 15.2%

According to NASA, remote sensing is the science of gathering information from a distance. This data is derived from geospatial technology, which collects electromagnetic (EM) radiation emitted and reflected by the Earth's terrestrial, atmospheric, and aquatic ecosystems. As a result, these services aid in the monitoring and detection of physical characteristics in an area without the need for physical contact. There are two types of remote sensing instruments: active and passive. NASA monitors Earth and other planets with remote sensors mounted on satellites and aircraft that detect and record emitted or reflected energy. Remote sensors that present a global outlook and a wealth of statistics about Earth systems enable data-informed decision-making about Earth’s current and future state.

Global Remote Sensing Services Market DRO’s:

Market Drivers:

  • Growing need for remote sensing data in multiple defense applications
  • Increasing remote sensing services implementation for environmental risk management
  • Rising number of Earth observation projects
  • Growth in the cloud computing industry

Market Restraints:

  • High initial investments 
  • Regulatory issues and lack of interoperability issues

Market Opportunities:

  • Advent of big-data analytics in remote sensing services
  • Increasing investments in satellite communication and ISR payloads

Report Coverage

Market Remote Sensing Services Market
Market Size 2021 USD 17,997 Million
Market Forecast 2030 USD 64,375 Million
CAGR During 2022 - 2030 15.2%
Analysis Period 2018 - 2030
Base Year 2021
Forecast Data 2022 - 2030
Segments Covered By Technology, By Platform, By Resolution, By End-Use, And By Geography
Regional Scope North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Key Companies Profiled Antrix Corporation, DigitalGlobe, EKOFASTBA, General Dynamics Mission Systems, Inc., Geo Sense, Hexagon AB, Lockheed Martin Corporation, Mallon Technology, Remote Sensing Solutions, Stantec, and Satellite Imaging Corporation
Report Coverage
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis
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Remote Sensing Services Market Dynamics

Extensive growth in defense and homeland security applications is a primary factor boosting the remote sensing services market value. The development of remote sensing technology has enabled defense forces with critical intelligence information. In peacetime, spy satellites continuously capture high satellite data to monitor enemy forces' advancement and acquisition of modern warfare devices. There is no privacy with these satellites, and developed nations have extensively used remote sensing technology to monitor activities in the establishment of nuclear installations. These are brought to the attention of international organizations that coordinate the prevention of nuclear energy being used for destructive purposes.

The surging implementation of these services for environmental risk management is another factor fueling the remote sensing services market growth. Remote sensing has a wide range of environmental planning and management applications. Coastal applications, hazard assessments, ocean applications, and natural resource management are just a few of the broad categories that encompass a wide range of analyses such as measuring ocean temperatures, monitoring shoreline changes, tracking the effects of natural disasters, and mapping wildlife habitats. All of these analyses help with the forecasting and planning of land and water resources.

However, high initial investments and the regulatory issues involved with these services are impeding market growth. In addition to that, interoperability issues with these systems can cause incorrect readings of any surface, which again can hamper the market growth. Besides that, the advent of cloud computing, AI, and big data analytics technologies are anticipated to create new opportunities in the remote sensing services industry.

Remote Sensing Services Market Segmentation

The worldwide remote sensing services market is split based on technology, platform, end-user, resolution, and geography.

Market by Technology

  • Active Remote Sensing
  • Passive Remote Sensing

Remote Sensing Services Market Size is projected to reach a market size of USD 64,375 Million by 2030 growing at a CAGR of 15.2%

Based on our remote sensing services market forecast, the passive remote sensing technology is expected to achieve a noteworthy market share throughout the projected timeframe from 2022 to 2030. Passive sensors react to external stimuli by collecting radiation emitted or reflected by an object or the encircling environment. Reflected sunlight is the most prevalent source of radiation analyzed by passive remote sensing. Film photography, charge-coupled devices, radiometers, and infrared are all examples of passive remote sensors. However, active remote sensors collect data by emitting energy to scan objects and areas, after which a sensor evaluates the energy reflected from the target.

Market by Platform

Satellites

  • Earth Observation
  • Mapping & Navigation
  • Meteorology
  • Telecommunication
  • Others

Manned Aircraft

  • Coastal Analysis
  • Defense and Intelligence
  • Disaster Management
  • Mineral Exploration Mapping
  • Pipeline Monitoring
  • Precision Farming
  • Others

UAVs

  • 3D Terrain Model Construction
  • Damage Assessment
  • Defense and Intelligence
  • Geohazard Mapping
  • Mineral Exploration
  • Pipeline Monitoring
  • Precision Farming
  • Others

Ground

Among all the platforms, satellites accounted for a considerable amount of remote sensing services market share in 2021. Satellite remote sensors can be important sources of data on the effects of human behavior within the biosphere, allowing for the determination of the spatial scale and extent of direct human interaction with the global land cover. Kratos Defense & Security Solutions, Inc., a leading provider of National Security Solutions, declared enhancements to its Remote Sensing Service Chain & Earth Observation (RS SC/EO) for its OpenSpace Platform. The new version includes features that allow Ground Station-as-a-Service (GSaaS) providers and satellite operators to shorten deployment times, increase automation, and optimize operating and capital expenditures.

Market by End-User

Defense

  • Defense Organizations
  • Homeland Security Agencies

Commercial

  • Agriculture
  • Energy & Power
  • Media & Entertainment
  • Weather Forecasting
  • Scientific Research
  • Others

Out of these, the defense segment witnessed a growing market share in the coming years. This is due to developed countries' increasing use of technology to prevent and detect criminal and catastrophic activities. Furthermore, countries such as China and Russia are concentrating on the use of satellite images for defense purposes. These variables are expected to increase demand in the coming years. However, due to the continued use of remote sensing software to increase agricultural yields by monitoring soil moisture and crop growth, the commercial segment is anticipated to experience the fastest growth over the forecasted years.

Market by Resolution

  • Spectral
  • Spatial
  • Temporal
  • Radiometric

According to our resolution segment analysis, the spatial segment gathered a sizable market share in 2021 and is expected to continue its trend in the coming years. The growing demand for high-resolution systems and crucial measurements is credited with the significant market share in the spatial segment. High spatial resolution images can help users distinguish between two objects that are close to each other, which is expected to drive the market for spatial resolution data in commercial and defense applications.

Remote Sensing Services Market Regional Outlook

North America

  • U.S.
  • Canada

Europe

  • U.K.
  • Germany
  • France
  • Spain
  • Rest of Europe

Latin America

  • Mexico
  • Brazil
  • Rest of Latin America

Asia-Pacific

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

The Middle East & Africa (MEA)

  • Gulf Cooperation Council (GCC)
  • South Africa
  • Rest of the Middle East & Africa

Remote Sensing Services Market Analysis is projected to reach a market size of USD 64,375 Million by 2030 growing at a CAGR of 15.2%

Presence of numerous key players in North America, fuels the regional market growth

In 2021, North America conquered the maximum amount of share and is anticipated to hold the dominant position all over the forecast timeframe. The high presence of key players such as General Dynamics Mission Systems, Inc., Lockheed Martin Corporation, and Raytheon technologies Corporation are expected to support the North American remote sensing services market share. In addition, the increasing adoption of remote sensing in end-use industries such as oil & gas, energy & power, weather forecasting, oceanography, and forestry are also expanding the regional growth. Besides that, the Asia-Pacific region is likely to attain the fastest growth rate in the coming years due to the growing implementation of earth observation for infrastructure development applications.

Remote Sensing Services Market Players

Some of the top Remote Sensing Services companies offered in the professional report includes Antrix Corporation, DigitalGlobe, EKOFASTBA, General Dynamics Mission Systems, Inc., Geo Sense, Hexagon AB, Lockheed Martin Corporation, Mallon Technology, Remote Sensing Solutions, Stantec, and Satellite Imaging Corporation.

Frequently Asked Questions

How much was the global remote sensing services market size in 2021?

The global remote sensing services market size in 2021 was accounted to be USD 17,997 Million.

What will be the projected CAGR for global remote sensing services market during forecast period of 2022 to 2030?

The projected CAGR remote sensing services market during the analysis period of 2022 to 2030 is 15.2%.

Which are the prominent competitors operating in the market?

The prominent players of the global remote sensing services market are Antrix Corporation, DigitalGlobe, EKOFASTBA, General Dynamics Mission Systems, Inc., Geo Sense, Hexagon AB, Lockheed Martin Corporation, Mallon Technology, Remote Sensing Solutions, Stantec, and Satellite Imaging Corporation.

Which region held the dominating position in the global remote sensing services market?

North America held the dominating remote sensing services during the analysis period of 2022 to 2030.

Which region exhibited the fastest growing CAGR for the forecast period of 2022 to 2030?

Asia-Pacific region exhibited fastest growing CAGR for remote sensing services during the analysis period of 2022 to 2030.

What are the current trends and dynamics in the global remote sensing services market?

Growing need for remote sensing data in multiple defense applications, rising number of Earth observation projects, and growth in the cloud computing industry drives the growth of global remote sensing services market.

By segment platform, which sub-segment held the maximum share?

Based on platform, satellites segment held the maximum share remote sensing services market in 2021.

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