Remote Sensing Services Market Size Worth $51.87 Billion By 2032 | CAGR: 14.80%

Remote Sensing Services Market Size Worth $51.87 Billion By 2032 | CAGR: 14.80%


The global remote sensing services market size is expected to reach USD 51.87 billion by 2032, according to a new study by Polaris Market Research. The report “Remote Sensing Services Market Share, Size, Trends, Industry Analysis Report, By Application (Agriculture, Engineering & Infrastructure, Environmental & Weather, Energy & Power, Transportation & Logistics, and Others); By Platform; By Technology; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Rapidly increasing adoption of space-based technologies such as space-based intelligence, reconnaissance, and surveillance capabilities among advanced nations and growing investments to develop enhanced space-based satellite constellations, which allow them to command and control the forces, are key factors influencing the global market growth.

Additionally, the rising prevalence towards the combination of several data sources and faster analysis worldwide, have further led to remote sensing satellite gaining more traction and significance for carting wide range of applications. For instance, in October 2022, Russia, launched ‘GLONASS-K, from the Plesetsk Cosmodrome station, by using a Soyuz-2.1b launch vehicle. The newly launched satellite is weighed 950 kilograms and is designed to be operated for at least 10 years, and working as a satellite navigation system.

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Several new business models globally are emerging as a broad range of solutions and services enabled by sensor data obtained through satellites, drones, and aircraft. The rapid advent of start-ups taking benefits and advantages of improved and better technology and are also substantially reducing the cost of launching satellites, that makes these services more accessible beyond government and military. This sensing technology has rapidly advanced and gained prevalence across the world in terms of radiometric, spatial, & spectral resolution.

The possibility of increase in the number of upcoming missions with higher spatial & spectral resolution sensors in the orbit, will boost the utility of hyperspectral data in various research domains and will stimulate the number of users of HIS, that positively contributing towards the market growth.

Remote Sensing Services Market Report Highlights

  • Defense & security segment accounted for highest market share in 2022, on account of growing adoption of advanced technology to monitor criminal and descriptive activities
  • UAVs segment is anticipated to grow at a high CAGR during the forecast period, which is highly accelerated to high advances in technologies and data systems globally
  • Passive remote sensing segment held the majority market revenue share in 2022, mainly due to its increasing prevalence to measure the sunlight from the earth surface and providing high-quality pictures
  • North America region dominated the global market with largest share in 2022, owing to quick adoption of innovated technology and highly growing investments towards the development of defense sector across the region
  • The global key market players include Orbital Insight, General Dynamics Mission Systems, Lockheed Martin, Hexagon, Maxar Technologies, and L3 Harris Technologies

Polaris Market Research has segmented the remote sensing services market report based on application, platform, technology, and region:

Remote Sensing Services, Application Outlook (Revenue - USD Billion, 2019 - 2032)

  • Agriculture
  • Engineering & Infrastructure
  • Environmental & Weather
  • Energy & Power
  • Transportation & Logistic
  • Defense & Security
  • Maritime
  • Insurance
  • Academic & Research
  • Others

Remote Sensing Services, Platform Outlook (Revenue - USD Billion, 2019 - 2032)

  • Satellite
  • UAVs
  • Manned Aircraft
  • Ground

Remote Sensing Services, Technology Outlook (Revenue - USD Billion, 2019 - 2032)

  • Active Remote Sensing
  • Passive Remote Sensing

Remote Sensing Services, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa

Remote Sensing Services Market Report Scope

Report Attributes

Details

Market size value in 2024

USD 17.22 billion

Revenue forecast in 2032

USD 51.87 billion

CAGR

14.80% from 2024– 2032

Base year

2023

Historical data

2019– 2022

Forecast period

2024– 2032

Quantitative units

Revenue in USD billion and CAGR from 2024 to 2032

Segments covered

By Application, By Platform, By Technology, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa

Key companies

Maxar Technologies, Planet Labs PBC, L3 Harris Technologies, Airbus SE, Trimble Inc., Orbital Insight, General Dynamics Mission Systems Inc., DigitalGlobe, Lockheed Martin Corporation, Hexagon AB, Antrix Corporation Limited, Geo Sense Sdn Bhd., Satellite Imaging Technology, Sanborn Map Company, The Airborne Sensing Technology, and Mallon Technology.

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  • Segmentation analysis
  • Industry outlook
  • Competitive landscape
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