Satellite Remote Sensing Services Market Size Grow Nearly USD 7.5 Billion by 2026

Market Research Reports, Business Consulting Services & Analytics

Increasing applications of remote sensing for earth observation is leading to the growth of the market.

HYDERABAD, TELANGANA, INDIA, December 14, 2022 /EINPresswire.com/ — The global Satellite Remote Sensing Services Market size is anticipated to surpass $7.5 billion by 2026, growing at a CAGR of 11.5% from 2021 to 2026, according to the latest research study by IndustryARC. Satellite remote sensing service is a process of detecting and monitoring the reflected and emitted radiation with the use of aircraft-based sensor technologies and classify objects on the Earth. The introduction of remote sensing, big data analytics, the Internet of Things (IoT) along with cloud computing is projected to propel the growth of the market. The most preferred remote sensing platform is the unmanned aerial vehicle (UAV) used for large-scale mapping, damage assessment, and others. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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Key Takeaways:

This IndustryARC report on the Satellite Remote Sensing Services Market highlights the following areas –

• North America is one of the most significant regions for the Satellite Remote Sensing Services Market, mainly due to the growth of the Defense sector and R&D in the space sector where this technology is used to detect more complex orientation changes.

• Unmanned Aerial Systems (UAV) is expected to witness the highest CAGR of 15% during the forecast period, owing to various factors such as increased use in the commercial and defense sector, rising government expenditures, and others in countries such as India, China, and so on.

• MEMS gyroscope is strengthening its position through mergers & acquisitions and continuously investing in research and development (R&D) activities of the remote sensing technology along with a vision to come up with solutions to cater to the changing requirements of customers.

Segmental Analysis:

• By Platform Type – UAVsegment held a significant market share of 15% in 2020, as they are increasingly adopZted in the defense sector. The technological developments in the UAVs have led to the availability oQZQQf feasible technical solutions for airframes, flight controls, and communication and base stations. Owing to these technological developments the UAVs are widely used in military applications. At the University of Tokyo, the Jouhou Systems Kougaku Laboratory unveiled DRAGON drones.

• By End User – The defense sector is expected to witness the highest CAGR of 8.5% during the forecast period as this technology is used to provide essential intelligence information. The defense industry demands ever-increasing functionality in space-based equipment such as satellites, probes, and military weaponry.

• By Geography – North America region is dominating the Satellite Remote Sensing Services Market growth. This region held a significant market share of 15% in 2020. The U.S. Aerospace and Defense (A&D) industry is one of the world’s leading innovators and producers of technologically advanced aircraft, space, and defense systems.

Click on the following link to buy the Satellite Remote Sensing Services Market Report:
https://www.industryarc.com/reports/request-quote?id=19399

Competitive Landscape:

The top 5 players in the Satellite Remote Sensing Services Industry are –

1. Airbus Defense and Space
2. Esri
3. DigitalGlobe
4. Boeing Company
5. Ball Aerospace & Technologies Corp.

Click here to browse the complete report summary:
https://www.industryarc.com/Report/19399/satellite-remote-sensing-services-market.html

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