Press Release / Technology / Remote Sensing Satellite Market Estimated To Perceive Accrued Value with a Staggering CAGR

Remote Sensing Satellite Market Estimated To Perceive Accrued Value with a Staggering CAGR

Remote Sensing Satellite Market – Overview:

The remote sensing satellite market is developing at an incremental pace. Market Research Future, a firm which specializes in market reports related to the Aerospace sector among others, published in its recent report on Remote Sensing Satellite Market Research Report – Global Forecast 2016-2021, that the sector is expected to grow at a CAGR of 5% owing to the increasing level of investments in the forecast period.

Due to the ability of remote sensing satellites to aggregate data following its monitoring, observing activities for large expanses of geographical areas, it has become widely popular. Its diverse uses in the fields of agriculture to detect the soil moisture content is instrumental for forecasting crop growth cycles which have increased the scope and thereby the demand as well from this sector. The sector also draws its demand from emergency rescue operators, biologists, surveillance agencies and navigation experts etc. to name a few. It is has also discovered positive demand trends from the defense sector due to its innumerable advantages. The pressure points for market growth of this sector are the technological complexities of sensors used in these satellites.

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Remote Sensing Satellite Market - Competitive Analysis

With the entry of new industry players in the remote sensing satellite segment, a trend of solid, volume-driven growth has been observed in the market with the addition of new and advanced products. Companies are aiming to capture & solidify their share of the market segment, by competing and experimenting with various advantage points. The best long-term growth opportunities for this sector can be captured by ensuring ongoing process improvements and financial flexibility to invest in the optimal strategies.

Some of the key players in the global remote sensing satellite market are Airbus Defence and Space, Ball Aerospace, Lockheed Martin, Mitsubishi Electric, Thales Alenia Space, Boeing, CASC, ISS Reshetnev, Orbital ATK, and Telespazio.

Latest Industry News:

Dec 2017 China recently successfully launched remote sensing satellites to conduct electromagnetic environmental probes. It was the 260th mission of the Long March rocket family. The satellites were launched on a Long March-2C carrier rocket from Xichang Satellite launch center in the southwest Sichuan province. The launch is part of the third batch of the Yaogan-30 project, which will conduct electromagnetic environmental surveys among other experiments, further boosting the country’s competitiveness in space science.

Dec 2017 China will make more efforts in space remote sensing development in 2018 and prepare for the launch of Gaofen-7 high-resolution remote sensing satellite. The goal of the Gaofen series is to provide all-weather, 24-hour services covering the entire globe. China will also promote the research and development of Ziyuan III 03 and 04 satellites in the New Year. Citing a national plan on civil space infrastructure (2015-2025), scientists said that seven cartographic satellites including Gaofen-7 will be used in updating maps, resource investigation, urban and rural planning, environmental protection and early warning of disasters. China will improve its ability to deal with emergencies through surveying and mapping in three years, according to the NASMG. In 2018, the NASMG will conduct basic, specific and city geo information survey and issue an annual report.

Dec 2017 Indian space agency, ISRO will launch its latest remote sensing satellite of the Cartosat-2 series, along with 28 foreign satellites in the first week of January. The launch of Cartosat-2 by the PSLV C40 rocket is a follow-on mission of the Cartosat-2 series with the primary objective of providing high-resolution scene-specific spot imageries. The satellite, which carries panchromatic and multi-spectral cameras, is capable of delivering high-resolution data. The series of satellite launches scheduled next year is in line with the space agency’s aim to double the number of launches from eight to 10 to 18-20 annually.

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Remote Sensing Satellite Market – Segments

The remote sensing satellite market has been segmented on the basis of system and region.

On The Basis Of System: SATCOM, Radar, Electro Optic and Infrared

On The Basis Of Region: Asia Pacific, Europe, North America, Latin America and the Middle East & Africa.

Remote Sensing Satellite Market - Regional Analysis

The remote sensing satellite market is segmented into North America, Europe, APAC, and Rest of the World (RoW). As per the MRFR analysis, the EMEA region will continue its dominance in the forecast period to achieve billion dollar growth, to grow at a CAGR of around 5%. Whereas, APAC will grow at a CAGR of 7% respectively during the forecast period.

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