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Remote Sensing Technology Global Market Report 2022

·4-min read

Major players in the remote sensing technology market are Thales Group, DigitalGlobe, Esri, General Dynamics Mission Systems Inc. , Hexagon AB, Lockheed Martin Corporation, Planet Labs Inc. , Northrop Grumman Corporation, Honeywell Technology Solutions Inc.

New York, Sept. 15, 2022 (GLOBE NEWSWIRE) -- announces the release of the report "Remote Sensing Technology Global Market Report 2022" -
, Raytheon Corporation, PrecisionHawk, Satellite Imaging Corporation, Ceres Imaging, Terra Remote Sensing, SlantRange Inc. and Astro Digital.

The global remote sensing technology market is expected to grow from $13.76 billion in 2021 to $15.22 billion in 2022 at a compound annual growth rate (CAGR) of 10.60%. The remote sensing technology market is expected to grow to $22.96 billion in 2026 at a compound annual growth rate (CAGR) of 10.82%.

The remote sensing technology consists of sales of remote sensing technology by entities (organizations, sole traders, partnerships) that refer to active and passive sensing technology used to collect the information and analyze its physical characteristics.The purpose of remote sensing technology is to detect and track an area by physical characteristics at a distance by measuring its reflected and emitted radiation.

It includes Lidar, unique cameras, radar scanning, and others.

The main types of technologies in the remote sensing technology market are active remote sensing and passive remote sensing.The active remote sensing technology transmit a coherent electromagnetic (EM) wave at a target, which can be celestial or pointed toward the ground.

The reflected radiation is detected and measured by the sensor from that target.Remote sensing technology uses two platform namely satellite and aerial systems and used in military and intelligence, weather, disaster management, agriculture and living resources and infrastructure.

It has most application in landscape assessment, security, air quality, hydrology, forestry, floodplain mapping and emergency management and healthcare.

North America was the largest region in the remote sensing technology market in 2021. The regions covered in the remote sensing technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The remote sensing technology market research report is one of a series of new reports that provides remote sensing technology market statistics, including remote sensing technology industry global market size, regional shares, competitors with an remote sensing technology market share, detailed remote sensing technology market segments, market trends and opportunities, and any further data you may need to thrive in the remote sensing technology industry. This remote sensing technology market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The growing adoption of precision farming technology is driving the growth of the remote sensing technology market.Due to rapid global population growth and climate change, the farming industry is undergoing massive transformations, placing an added burden on the food supply chain.

Precision farming is the planning of food production through the use of technologies delivering the economic benefits of cost reduction in farming and increasing production levels and also helps in environmental benefits.For instance, in August 2020, according to a report published by McKinsey Global Institute, By 2030, approximately 70 million farmers could benefit from digital agriculture services through precision farming.

This will be 1.5 times as productive as traditional large farms and 2 to 2.5 times as effective as small farms. Thus, the growing adoption of precision farming technology is driving the growth of remote sensing technology.

Technological advancement is a key trend that is gaining popularity in the remote sensing technology market.Major companies operating in the remote sensing technology market are focused on providing technologically-advanced solutions to strengthen their market position.

These companies are implementing next-generation remote sensing technology into their devices, such as active sensors, LiDAR, InSAR, PSInSAR, SAR, SRT, SqueeSAR, passive sensors, UAV, and others.These technologies obtain information about material objects from distance measurements without coming into physical contact with the objectives.

For instance, in March 2022, China launched a new remote sensing satellite into space. This optical remote sensing satellite will be used for the confirmation of land rights, to survey urban planning, disaster reduction and prevention, and crop yield estimation.

In November 2021, Planet Labs Inc., a US-based earth imaging company offering remote sensing services announced the acquisition of VanderSat, for approximately $28 million consisting of $18 shares and $10 cash. Through this deal, Planet aims to utilize VanderSat’s technologies and products to develop next-generation solutions that integrate remote-sensing science for commercial and public satellite data to give clear and actionable information to industries, non-profits, and governments worldwide. VanderSat is a Netherlands-based company providing advanced earth data and analytics by remote-sensing science.

The countries covered in the remote sensing technology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
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