Dublin, Nov. 25, 2022 (GLOBE NEWSWIRE) -- The "Remote Sensing Services Market by Application, Platform (Satellites, UAVs, Manned Aircraft, Ground), End Use, Resolution (Spatial, Spectral, Radiometric, Temporal), Type, Technology (Active, Passive) and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The Remote Sensing Services market is projected to grow from USD 13.2 billion in 2022 to USD 26.6 billion by 2027, at a CAGR of 14.9%.
The fundamental goals of remote sensing services are to characterize and monitor terrestrial and surface features, such as forests, deserts, urban cities, and agricultural fields. Remote sensing services play a vital role in the scientific understanding of environmental processes, such as carbon capture and albedo change. Such crucial information is essential to manage and safeguard large areas of environmental resources, such as tropical forests.
The Earth Observation Technology Cluster (EOTC) facilitates a knowledge exchange platform for diverse members of the terrestrial EO community to provide a unifying theme for EO investigations and practices. It covers a full range of remote sensing operations, comprising new platforms, sensor development, image retrieval, analysis, environmental modeling, and data applications. Remote sensing services are carried out through technologies such as satellite photography, satellite-borne visible, near-infrared, and thermal infrared sensors, synthetic aperture radar, passive microwave imagers, and active microwave scatterometers.
Based on Application, Defense & Security segment is estimated to be the largest growing market
Militaries are harnessing the power of satellite imagery to retrieve intelligence on enemies. Monitoring maritime and land surveillance activities via satellite have increasingly gained importance in recent years and will continue to do so with the advancements in satellite technologies and high-speed data services. Airbus Defense and Space offers a unique and innovative interface, the OceanFinder platform, which allows maritime stakeholders to inspect available satellite footprints in relation to additional information like AIS and nautical charts, as well as satellite-based situational reports. Vessel detection reports (VDR) include near-real-time information regarding vessel positions, as well as the size and relevant context information of vessels. Such information is useful for routine background intelligence, route prediction, projected vessel locations, and automated detection and classification of vessels.
Need for capturing more details through high and very high-resolution images to drive resolution segment demand
Spatial resolution is an image's pixel-level detail. A smaller grid cell size and greater detail are two benefits of high spatial resolution. In contrast, more spatial resolution results in smaller pixels and less detail. Drones frequently produce photographs with among the highest spatial resolutions. Despite being the highest in the atmosphere, satellites are still capable of 50 cm or larger pixel sizes, as Worldview-3. Overall, an image's quality and object detail are described by its spatial resolution. The spatial resolution has higher information with more pixels when the grid cells are smaller, the spatial resolution has more detail with more pixels.
China to lead Asia Pacific Remote Sensing Services market
China uses land and ocean observation satellites to create a robust network to monitor natural resources and detect environmental changes. The country has plans to launch approximately 100 more earth observation satellites into space by 2025. According to the UCS Satellite database, it presently has more than 260 satellites in orbit and is taking steps to accelerate the development of its space-related economy amid technological breakthroughs and industrial growth.
Market Dynamics
Drivers
- Significant Advancements in Geospatial Imagery Analytics with Introduction of AI and Big Data
- Increasing Need for Remote Sensing Data in Defense and Commercial Applications
- Increased Adoption of UAVs in Agriculture for Crop Health Assessment and Precision Farming
- Technological Developments and Innovations in Earth Observation Applications
Restraints
- Decreasing Use of Manned Aircraft in Remote Sensing Applications
- Liability Issues Associated with UAV Operations and Services
Opportunities
- Need for Real-Time Data
- Subscription Data and Analytic Solutions to Address Commercial Market Opportunity
Challenges
- Short-Term Data Continuity for Droughts, Floods, and Other Natural Disasters
- Lack of Awareness and Interoperability Issues
| Report Attribute | Details |
| No. of Pages | 280 |
| Forecast Period | 2022 - 2027 |
| Estimated Market Value (USD) in 2022 | $13.2 Billion |
| Forecasted Market Value (USD) by 2027 | $26.6 Billion |
| Compound Annual Growth Rate | 14.9% |
| Regions Covered | Global |
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Remote Sensing Services Market, by Application
8 Remote Sensing Services Market, by Platform
9 Remote Sensing Services Market, by End Use
10 Remote Sensing Services Market, by Resolution
11 Remote Sensing Services Market, by Technology
12 Remote Sensing Services Market, by Type
13 Regional Analysis
14 Competitive Landscape
15 Company Profiles
16 Appendix
Companies Mentioned
- Aerodyne Group
- Aerospacelab
- Airbus Se
- Antrix Corporation Ltd.
- Blacksky Technology Inc.
- Cyberhawk
- Esri
- Geospatial Intelligence Pty Ltd.
- Iceye
- Imagesat International (Isi)
- LHarris Geospatial
- Mallon Technology
- Maxar Technologies
- Measure
- Orbital Insight
- Planet Labs, Inc.
- Planetobserver
- Precisionhawk
- Remote Sensing Solutions GmbH
- Satellite Imaging Corporation
- Spire Global, Inc.
- Terra Drone Corporation
- Terra Remote Sensing
- The Sanborn Map Company Inc.
- Trimble Inc.
For more information about this report visit https://www.researchandmarkets.com/r/tor57b
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