Global Remote Sensing Market
is expected to grow at a significant CAGR in the upcoming years as the scope
and its applications are rising enormously across the globe. Remote sensing is
a mechanical technology in science that obtains information about areas or
objects from a distance, via aircraft or satellites. The data is collected
using remote sensors that are mounted on aircraft or satellites by detecting
the energy that is reflected from earth. Passive and active are the two types
of remote sensors. Passive sensors respond to external incentives that is they
record natural energy that is emitted from the Earth’s surface such as sun
light. Remote sensing of the environment is mainly done with the help of remote
sensors. Global Remote Sensing Market is segmented based on systems, end users,
and region. Remote Sensing Market is classified, by systems into EO/IR, SATCOM,
and Radar.
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EO/IR system segment accounted
for the largest market share of Remote Sensing Market and is expected to remain
dominant in the upcoming years. This is mainly due to, rising popularity at
rapid pace and are inclusively used by defense forces. Moreover, growing
application of EO/IR systems in unmanned aerial systems is expected to lead the
market in the upcoming years. Remote Sensing Market is classified, by end users
into Weather Forecasting, Agriculture, Border Protection, Archeological and
Cultural Site Protection, Forestry, Oceanography, Oil, Gas & Mineral
Exploration, Atmospheric Research, Military and Defense, Natural Hazard
Monitoring, and others. Remote sensing in coastal applications helps to monitor
shoreline changes, map coastal features and track sediment transport that helps
in the prevention of erosion. Also helpful in ocean application for screening
of ocean circulation, temperature and wave heights. Additionally, in hazard
assessment application remote sensing helps to track hurricanes, erosion,
flooding, and earthquakes. Remote Sensing Market is segmented, geographically
into America (North America, South America), Europe (Eastern Europe, Western
Europe), Asia Pacific, Latin America, Middle East and Africa.
Globally, Asia Pacific
regional market is expected to grow at highest CAGR in the upcoming years. This
is mainly due to, growing Asia Pacific defense budget at rapid pace, rising
investments to enhance and strengthen its defense technologies, and rising
government initiative towards use of enhanced technologies. Moreover, factors
such as the latest achievement of new technologies and systems through
beneficial investments will urge the prospects for growth in this market
segment in the upcoming years. The key players of Remote Sensing Market are,
Thales Alenia Space, Airbus Defence and Space, Mitsubishi, Ball Aerospace,
Lockheed Martin, Telespazio, Boeing, Orbital ATK, CASC and ISS Reshetnev.
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