Global Remote Sensing Services Market Analysis 2022
The Global Remote Sensing Services Market is expected to reach $56.03 billion by 2028 growing at a CAGR of 17.2% from 2021 to 2028. Remote sensing refers to the achievement of data about phenomena or physical objects through the process of recording, measuring, and interpreting digital images from remote places. Remote sensing satellites are equipped with highly efficient sensors which measure the thermal infrared radiation emitted from the earth. It is used in numerous fields, including geography, land surveying and most earth science disciplines. It also has military, commercial, intelligence, economic, planning, and humanitarian applications.
Factors such as introduction of big data analytics in remote sensing, growth of the cloud computing market, growing use of these services in defense and commercial applications, increasing demand in homeland security operations are driving the growth of the market. However, lack of awareness and interoperability issues is restraining the growth of the market.
Based on platform, the unmanned aerial vehicles (UAVs) segment is growing at the highest CAGR in the market, due to increasing developments in unmanned aerial vehicle (UAV) platforms and associated sensing technologies, adapted to these platforms, offer a broad range of solutions for different applications related to the acquisition of information about objects, structures or phenomenon at the earth level, based on observations on the surface seas and oceans and in the atmosphere. UAVs are considered to be the most preferred remote sensing platform. UAV-based remote sensing services are used for large-scale mapping, real-time assessment, and monitoring activities of various applications, such as precision farming, 3D terrain model construction, damage assessment, geohazard mapping, and mineral exploration.
The key vendors mentioned are Ball Corporation, BAE Systems PLC, Lockheed Martin Corporation, Antrix Corporation, The Sanborn Map Company, DigitalGlobe, Northrop Grumman Corporation, Trimble Inc., Thales Group, Cyient Limited, Mallon Technology, Airborne Sensing Corporation, Harris Geospatial Solutions, Inc., Planet Labs Inc., The Boeing Company, and GEO Sense SDN. BHD.
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