Global Remote Sensing Technology Market By Technology (Active and Passive), By Platform (Aerial Systems and Satellite), By End User (Military & Intelligence, Weather, Disaster Management, Agriculture & Living Resources, Infrastructure and Others), By Region, Industry Analysis and Forecast, 2020 - 2026
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Get in-depth analysis of the COVID-19 impact on the Remote Sensing Technology Market
The Global Remote Sensing Technology Market size is expected to reach $22.5 billion by 2026, rising at a market growth of 9.8% CAGR during the forecast period. Remote sensors gather information by detecting the energy that is reflected from Earth. These sensors can be placed on satellites or mounted on aircraft. Remote sensors can be of two types namely active or passive. Passive sensors react to outer stimuli. They record natural energy that is reflected or discharged from the surface of Earth. The most widely recognized source of radiation detected by passive sensors is reflected sunlight. On the other hand, active sensors utilize inside stimulus to gather information about Earth. For instance, a laser-beam remote sensing framework projects a laser onto the surface of Earth and calculates the time period that is taken by the laser to reflect back to its sensor.
Remote Sensing Technology Market Size, By Platform, 2020-2026
The increasing adoption of Internet of Things (IoT) innovation in the agriculture segment is foreseen to drive market development over the forecast period. IoT in agriculture utilizes remote sensors, robots, drones, and PC imaging to screen crops and give information to farmers for efficient management of the farm. IoT-based remote sensing utilizes sensors set on farms and gathers information that is transmitted for the purpose of analysis. Farmers can screen the crops from a scientific dashboard and act accordingly on the basis of the experience.
Remote Sensing Technology Market Share, By End User, 2019
The requirement for high initial investments in the assembling of various parts is obstructing the development of the Remote sensing technology market. The market players need to make elements and encode information content that fulfils the guidelines set by administrative organizations. This restricts the development opportunities for organizations in the market. In any case, expanding adoption in research and exploration applications is anticipated to drive the market in the coming seven years.
|Market size value in 2019||USD 11.8 Billion|
|Market size forecast in 2026||USD 22.5 Billion|
|Historical Period||2016 to 2018|
|Forecast Period||2020 to 2026|
|Revenue Growth Rate||CAGR of 9.8% from 2020 to 2026|
|Number of Pages||233|
|Number of Tables||363|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competition Analysis, Companies Strategic Developments, Company Profiling|
|Segments covered||Technology, Platform, End User, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
The market is chiefly driven by the expanding number of earth observation ventures by various space agencies. For example, the Indian Space Research Organization (ISRO) has thirteen satellites for the observation of earth to date and plans to introduce ten earth observation satellites during 2020-2021. The outbreak of the COVID-19 pandemic led various nations to force severe lockdown measures. This prompted an expansion in the adoption of Remote sensing technology to screen and check the spread of infections and record environmental changes.
Based on Technology, the market is segmented into Active and Passive. Based on Platform, the market is segmented into Aerial Systems and Satellite. Based on End User, the market is segmented into Military & Intelligence, Weather, Disaster Management, Agriculture & Living Resources, Infrastructure and Others. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
Free Valuable Insights: Global Remote Sensing Technology Market to reach a market size of $22.5 Billion by 2026
KBV Cardinal Matrix - Remote Sensing Technology Market Competition Analysis
The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; Honeywell International, Inc., Lockheed Martin Corporation, General Dynamics Corporation, and Northrop Grumman Corporation are the forerunners in the Remote Sensing Technology Market. Companies such as Planet Labs, Inc., UrtheCast Corporation, Hexagon AB, Thales Group S.A., and Teledyne Technologies, Inc., and Maxar Technologies, Inc. are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Maxar Technologies, Inc. (DigitalGlobe, Inc.), General Dynamics Corporation, Hexagon AB, Lockheed Martin Corporation, Planet Labs, Inc., Teledyne Technologies, Inc. (Teledyne DALSA, Inc.), UrtheCast Corporation, Honeywell International, Inc., Thales Group S.A., and Northrop Grumman Corporation.
Recent Strategies Deployed in Remote Sensing Technology Market
» Partnerships, Collaborations, and Agreements:
- Oct-2020: Hexagon AB teamed up with UP42, a leading geospatial provider for availing the content program of Hexagon on the UP42 Platform. Now, UP42 users can pick from nearly 11 million sq. kilometers of 30 cm orthorectified imagery of North America and over 500,000 sq. km of 15 cm data for US cities in Europe from the Hexagon Aerial image library. UP42 users get direct access to an ample amount of Earth observation data sets and modern processing algorithms with the cloud computing power to produce their geospatial solutions simply and reasonably.
- Sep-2020: Maxar Technologies partnered with Network Integrity Assurance Technologies (NIAT), a licensed satellite communications service provider. This partnership was aimed to outreach their geospatial industry in Brunei. Also, the companies have promoted the usage of high-resolution satellite imagery that benefits the primary source, defense, and maritime sectors.
- Sep-2020: General Dynamics Mission Systems announced its partnership with Dedrone, a market and technology leader in airspace security. Under this partnership, General Dynamics provided its global network to Dedrone's complete drone detection and defeated technology. General Dynamics Mission Systems became a reseller who added value to the Dedrone's Counter unmanned aerial system (C-UAS) and had a notable equity investment in Dedrone. General Dynamics planned to supply Dedrone's counter-drone technology to the world's defense, government, intelligence department, and critical infrastructure customers.
- Jul-2020: General Dynamics Mission System came under an agreement with the U.S. Geological Survey (USGS), a scientific agency of the United States. The objective of the contract is to fly the Landsat 8 mission at the Goddard Space Flight Center (GSFC) in Seabrook, Maryland. The General Dynamics would have designed a new Landsat Multi-satellite Operation Center (LMOC) at GSFC and will be ready to provide flight and mission operations along with the launch of the new USGS Landsat 9 satellite this year.
- Jul-2020: Planet Labs extended its partnership with Esri, an international supplier of geographic information system software that will resell the satellite imagery. Esri has extended access to Planet's top cadence data set to the biggest GIS community.
- Apr-2020: Planet extended its contract with NASA for providing its imagery to all NASA funded research programs. This extended contract broadened the horizon by making the data available to all the NASA funded research community.
- Mar-2020: Maxar Technologies came into partnership with Astraea, a machine learning platform, and became the first leading global reseller for providing high-resolution satellite imagery to Non-Profit Organizations (NPOs). With an objective to avail satellite imagery for users across the globe, this partnership provides affordable access to high resolution and accurate multispectral imagery to NPOs.
- Mar-2020: Planet announced its partnership with Seisan, the Earthquake analyst software to develop machine learning imagery analysis accompanying traditional systems integration and data conversion methods. Following this partnership, Seisan would deliver next-level competitive advantages and insights into many industry verticals.
- Feb-2020: UrtheCast partnered with Skyline, an insurance company, for proposing an index-based insurance platform in the market. The data-driven parametric insurance service by Skyline with UrtheCast's remote sensing data analytics has proven their insurance capabilities. It included the reinsurance with higher-rated securities and they also ensured the support of the insurance with local regulators.
» Acquisition and Mergers:
- Dec-2018: Planet acquired Boundless Spatial, Inc., the leading geospatial data management software. This acquisition helped Planet to expand its commercial business with the U.S. government and commercial agriculture clients.
- Aug-2018: UrtheCast acquired Geosys, an analytics firm from Land O' Lakes. Geosys is a geoanalytics firm which was the largest purchaser of agriculture satellite imagery worldwide. The acquisition helped UrtheCast in becoming the leader in fully integrated geoanalytics solutions for agriculture.
- Jun-2018: Northrop took over Orbital ATK Inc., a global leader in aerospace and defense technologies. Through their leading technologies, they developed and enhanced mission capabilities and more competitive offerings in the critical global security domain.
» Product Launches and Product Expansions:
- Oct-2020: Teledyne DALSA launched the latest version of the Sapera Vision Software Edition 2020-09. The new version offers the process of field-proven image and artificial intelligence that helps in designing, developing, and deploying high-performance machine vision applications. This new version includes Astrocyte 1.0, which helps in training a neural network on 2D images for different variety of applications.
- Oct-2020: Thales introduced Airmaster C Ultra-Compact airborne surveillance radar. This radar provides Land, Air, and Maritime surveillance missions and offers a state of the art target detection capabilities.
- Oct-2019: Hexagon's Geospatial division launched Power Portfolio 2020 as the latest updated version of their leading photogrammetry, GIS, remote sensing, and cartography product. The new version helps the customers to address huge data management issues quickly. Power Portfolio 2020 includes enhanced image compression technology and a better user experience across the products.
Scope of the Remote Sensing Technology Market Analysis
- Aerial Systems
By End User
- Military & Intelligence
- Disaster Management
- Agriculture & Living Resources
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
- Maxar Technologies, Inc. (DigitalGlobe, Inc.)
- General Dynamics Corporation
- Hexagon AB
- Lockheed Martin Corporation
- Planet Labs, Inc.
- Teledyne Technologies, Inc. (Teledyne DALSA, Inc.)
- UrtheCast Corporation
- Honeywell International, Inc.
- Thales Group S.A.
- Northrop Grumman Corporation
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Remote Sensing Technology Market Related Reports:
What would be the value of global remote sensing technology market by 2026?
The remote sensing technology market is projected to reach USD 22.5 billion by 2026.
What are the factors that anticipated to drive remote sensing technology trends?
There are several reason that cause high demand of this market one of them is can survey big and inaccessible area and have a wide range of applications.
Which segment shows high share of the remote sensing technology market in 2019?
The segment of military and intelligence held a significant share of the market in 2019. This is due to the developing adoption of innovation by developed nations to screen and prevent criminal and crime-related activities.
What are the major top companies in the competitive landscape?
Maxar Technologies, Inc. (DigitalGlobe, Inc.), General Dynamics Corporation, Hexagon AB, Lockheed Martin Corporation, Planet Labs, Inc., Teledyne Technologies, Inc. (Teledyne DALSA, Inc.), UrtheCast Corporation, Honeywell International, Inc., Thales Group S.A., and Northrop Grumman Corporation.