Remote Sensing Satellite Market 2019: Global Size, Share, Recent Trends, Opportunity Assessment, Historical Analysis, Future Scope and Industry Expansion Strategies 2021

August 25 21:07 2019
Remote Sensing Satellite Market 2019: Global Size, Share, Recent Trends, Opportunity Assessment, Historical Analysis, Future Scope and Industry Expansion Strategies 2021

Remote Sensing Satellite Market
Remote Sensing Satellite Market Research Report 2019: Industry Size, Share, Trends, Growth and Opportunity Assessment, Regional Analysis and Segmentation By System (SATCOM, Radar, and Electro Optic / Infrared), and by Geography – Forecast To 2021

The Global Remote Sensing Satellite Market is expected to grow at a CAGR of around 5% during 2016-2021. The key factors driving the demand are growing investment on satellite communication and ISR payloads, and the growing need for advanced optical imaging systems.

Some of the key players in the Global Remote Sensing Satellite Market are Airbus Defence and Space, Ball Aerospace, Lockheed Martin, Mitsubishi Electric, Thales Alenia Space, Boeing, CASC, ISS Reshetnev, Orbital ATK, and Telespazio

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Remote Sensing Satellite Market – Competitive Analysis

The global remote sensing satellite market is highly competitive, and vendors compete based on cost, product quality, reliability, and aftermarket service. To survive and succeed such an intensely competitive environment, it is crucial for vendors to provide cost-effective and high-quality satellite systems with latest technology and materials.

Lockheed Martin and Mitsubishi Electric are the two leading vendors in the market. Their focus is primarily on the implementation of lightweight materials, more of electric technologies, and robust systems. Lockheed Martin ranks on the top because it is the prime contractor for a number of major US military satellite programs. These include the Advanced EHF constellation, the US Navy’s MUOS, the GPS III, and the SBIRS High system. Similarly, Mitsubishi Electric ranks second owing to the development of both the IGS and the Quasi-Zenith spacecraft. Likewise, Airbus Defense and Space has contracts for a number of satellite programs, including the CSO, PAZ, Falcon Eye, SEOSAR, SEOSat, and SARah. These three companies along with Boeing and ISS Reshetnev hold a combined 66.8% share of the military satellite market. The emergence of such advanced satellite technologies and systems has transformed the space industry.

In 2015, Lockheed Martin signed a contract with EchoStar Corporation, a US-based vendor, promising launch services for the EchoStar XIX communications satellite, also known as JUPITER-2, a large, multi-spot beam Ka-band satellite. It is reported that Cape Canaveral Air Force Station, Florida will be hosting the launch of this satellite on a United Launch Alliance Atlas V rocket in late 2016.

Mergers and acquisitions and increased collaboration with partners globally will drive the market in the forecast period. In 2012, DigitalGlobe, a prominent vendor of the market, acquired its competitor GeoEye at $900 million. Such acquisitions will enhance the position of the company in the market and enable direct access to local customers.

Government organizations such as the Department of Defense (DoD), Ministry of Defense (MoD), European Union (EU), and United Nations (UN) encourage the provision of satellite systems and technologies. As a result, the vendors invest in creating new, cost-efficient, and effective remote sensing satellite solutions and systems. 

Global Remote Sensing Satellite Market – Segmentation

The global remote sensing satellite market is segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;

Segmentation by System Comprises SATCOM, Radar, EO/IR and Others

Segmentation by Application Comprises Earth Observation, Telecommunication, Meteorology, Mapping and Navigation and Others

Segmentation by End User : Comprises Defense and Commercial

Segmentation by Regions : Comprises Geographical regions – North America, Europe, Asia-Pacific, Middle East & Africa and South America.

Global Remote Sensing Satellite Market: Regional Analysis

European region is dominating the market of global remote sensing satellite market due to continuous advancements in the usage of new frequencies, signal transmission techniques, and effective terminals. North America market is referred to as the second-largest remote sensing satellite market due to factors such as growing investments in various military and commercial satellites programs have fuelled the demand for global remote sensing satellite market. The market in the North American is largely driven by increasing demand for remote sensing services in various sectors such as Oil & Gas, mineral exploration, energy and power, which helps in growth of global remote sensing satellite market.

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