[FURL=https://www.industryarc.com/Report/19399/satellite-remote-sensing-services-market.html?utm_source=briefingwire&utm_medium=pressrelease&utm_campaign=paidpressrelease]Satellite Remote Sensing Services Market[/FURL] Satellite Remote Sensing Services Market Size is forecast to reach $7.5 billion by 2026, at a CAGR of 11.5% during 2021-2026. Satellite remote sensing service is a process of detecting and monitoring the reflected and emitted radiation with the use of aircraft-based sensor technologies and classify objects on the Earth. The introduction of remote sensing, big data analytics, the Internet of Things (IoT) along with cloud computing is projected to propel the growth of the market.Key Takeaways
North America is one of the most significant regions for the Satellite Remote Sensing Services Market, mainly due to the growth of the Defense sector and R&D in the space sector where this technology is used to detect more complex orientation changes.
Unmanned Aerial Systems (UAV) is expected to witness the highest CAGR of 15% during the forecast period, owing to various factors such as increased use in the commercial and defense sector, rising government expenditures, and others in countries such as India, China, and so on.
MEMS gyroscope is strengthening its position through mergers & acquisitions and continuously investing in research and development (R&D) activities of the remote sensing technology along with a vision to come up with solutions to cater to the changing requirements of customers.
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Satellite Remote Sensing Services Market Segment Analysis - By Geography
North America region is dominating the Satellite Remote Sensing Services Market growth. This region held a significant market share of 15% in 2020. The U.S. Aerospace and Defense (A&D) industry is one of the world’s leading innovators and producers of technologically advanced aircraft, space, and defense systems. With the growing developments, the government of this region has announced several fundings, initiatives for the development of these sectors. In September 2019, the government has announced to fund $21.5 billion to NASA for its research and development activities.
Satellite Remote Sensing Services Market Drivers
Surge in Development of Defense Sector:
Growth in adoption of Unmanned Aerial System:
Satellite Remote Sensing Services Market Landscape
Top players operative in Satellite Remote Sensing Services include Airbus Defense and Space, Esri, DigitalGlobe, Boeing Company, Ball Aerospace & Technologies Corp., Planet Labs, Inc., ThalesGroup, UrtheCast, Mitshubishi Electric Group, PlanetLabs, Inc. among others.
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