Remote Sensing Technology Market Is Likely to Experience a Tremendous Growth by 2031
The global remote sensing technology market is anticipated to grow at a significant CAGR of 11.1% during the forecast period (2024-2031). The remote sensing technology market is being driven by several factors, including the need for better resource utilization and management, the trend of smart cities, and the increasing adoption of earth observation satellites. Remote sensing technology is an effective tool for monitoring and analyzing environmental changes, such as deforestation, land-use changes, glacier retreat, and air pollution. The increasing availability of earth observation (EO) data results in a growing number of firms penetrating the “downstream” space sector, providing a diverse range of innovative services and applications.
Microwave remote sensing satellite designed for comprehensive Earth observation. Its objectives include studying land ecosystems, solid earth deformation, mountain and polar cryosphere dynamics, sea ice behaviour, and coastal ocean phenomena at both regional and global scales. For instance, in November 2023, India & the US to launch a joint microwave remote-sensing satellite for Earth observation. The satellite is named NISAR (NASA-ISRO Synthetic Aperture Radar). NISAR is highly suitable for studying the land ecosystems, deformation of solid earth, mountain and polar cryosphere, sea ice and coastal oceans on a regional to global scale.
Remote sensing technology allows for the collection of data without physical contact with the object or area being observed. These include wasteland mapping and monitoring, soil resources mapping, crop production forecasting, horticultural development, cropping system analysis, precision farming and others. For instance, in November 2022, China launched Yaogan 34 remote-sensing satellite. This remote sensing satellite be used in areas such as land resources survey, urban planning, crop yield estimation, and disaster prevention and mitigation.
Modern farming taking place on such a vast scale – with many farms in the thousands of acres – makes satellite detection a critical way to collect data affordably. For instance, in March 2023, InnerPlant and Satellogic launched the first-ever device for detecting human-made crop signals from space. High-resolution, high-quality remote-sensing imagery holds tremendous potential for critical human endeavours.
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Market Coverage
- The market number available for – 2024-2031
- Base year- 2023
- Forecast period- 2024-2031
Segment Covered-
- By Technology
- By Platform
- By Application
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- includes Hexagon AB, L3Harris Technologies, Inc., Maxar Technologies, Remote Sensing Solutions GmbH, Trimble Inc., and others.
Remote Sensing Technology Market Report Segment
By Technology
- Active Sensing
- Passive Sensing
By Platform
- Satellite
- Aerial Systems
By Application
- Agriculture & Living Resources
- Military & Intelligence
- Disaster Management
- Weather
- Others (Infrastructure)
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Company Profiles
- AIRBUS SE
- Ball Corp.
- Climet Instruments Company
- Esri
- European Space Agency
- General Dynamics Mission Systems, Inc.
- Hexagon AB
- Honeywell International Inc.
- Intermap Technologies
- L3Harris Technologies, Inc.
- Lockheed Martin Corp.
- Migration Corp.
- Orbital Insight
- Planet Labs PBC
- Remote Sensing Solutions GmbH
- Remote Sensing Technology Centre of Japan
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