Global Remote Sensing Services Market is valued at approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2029. Remote sensing services are a procedure of identifying and observing the area's physical characteristics through measuring it's reflected and emitted radiation at a distance. The market growth is majorly driven by the factors such as significant developments in geospatial imagery analytics with the emergence of AI and big data, increasing application of UAVs in agriculture for precision farming and crop quality measurement, coupled the increasing technological innovations in earth observation applications.
In addition, the a growing requirement for remote sensing data in military & defence applications to detect the physical characteristics with a better level of security and generate data that helps in mission planning, air-defence planning, and flight simulation. The World Bank estimates that in 2018, military spending accounted for 2.1% of GDP, and that figure climbed up to 2.4% of GDP in 2020. Therefore, the increasing expenditure on military & defence applications, along with the rising government support is exhibiting a positive influence on the adoption of remote sensing services, which is supporting the global market expansion. Furthermore, the growing need for real-time data, as well as rising subscription data and analytic solutions to address commercial market opportunities are anticipated to leverage the market demand in the forecasting years. However, decreasing use of manned aircraft in remote sensing applications and liability issues associated with UAV operations and services stifle market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Remote Sensing Services Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America dominated the market in terms of revenue, owing to the rising implementation of advanced technology in remote sensing and the growing focus on advancing imaging satellite systems. Whereas, the Asia Pacific is expected to grow at a steady rate during the forecast period. Factors such as the increasing requirement for real-time data, as well as rising advancements in geospatial imagery analytics, are burgeoning the market growth in the forecasting years.
Major market players included in this report are:
Planet Labs PBC
L3 Harris Technologies Inc.
Blacksky Technology Inc.
Terra Drone Corporation
Spire Global, Inc.
Antrix Corporation Ltd.
Recent Developments in the Market:
In June 2022, Planet Labs, Inc. and Bayer AG publicized that the companies signed a contract in which Planet Labs offer Bayer professional services and SkySat data to make collaborative solutions, which support optimizing seed production, supporting sustainable agriculture, and improving supply chain efficiency.
In April 2022, Maxar Technologies declared the investment in Blackshark.ai, which aims on representing Maxar's commitment to innovation in its 3D Earth Intelligence product portfolio.
In June 2021, The UK Royal Navy presented a 12-month contract to Airbus that covers the constant provision of satellite-based maritime surveillance services for the Joint Maritime Security Centre (JMSC).
Global Remote Sensing Services Market Report Scope:
Historical Data: 2019-2020-2021
Base Year for Estimation: 2021
Forecast period: 2022-2029
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Platform, Resolution, End User, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By End User:
Military & Government
Rest of the World