A satellite is an object that moves around a more massive object. According to US Government, approximately 3,000 satellites are operating in Earth orbit. These satellites are equipped with one or more sensors or instruments depending on their applications which typically includes metrology, oceanography, glaciology, geology, topography, cartography, agriculture, forestry, navigation, and many other applications for multiple industry sectors.
Satellite Sensor Market – Drivers and Restraints
The demand for satellite sensors is increasing rapidly due to their superior features such as multi-payload, super-spectral, high-resolution, and many more. The primary factor driving the global satellite sensor market is that these sophisticated commercial earth observation satellite sensors provide high-resolution satellite image data that can be applied to many industrial applications including energy and mining, airport mapping, homeland security, archaeology, hurricane mitigation, and many more. The satellite sensors are also used for environment sensing which includes profiling of atmospheric temperature, wind velocity, water vapor and pressure. Also, satellites are used for disaster warning and assessment, oil and mineral exploration, assessing water resources from snow, rainfall and underground aquifers. Hence, these multiple applications provided by satellite sensors are expected to propel the growth of the global satellite sensors during the research study.
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However, some limiting factors such as the high installation cost and stringent government regulations & policies are hampering the growth of the global satellite sensor market during the forecast period.
Satellite Sensor Market – Segmentation
The global satellite sensor market can be segmented on the basis of type, application, end use, and geography. Based on type, the global satellite sensor market can be segmented into active and passive. Passive sensors are used to record reflected solar radiation and emissive radiation. While active sensors are used to send pulses of energy (by laser or radar) through the atmosphere to the surface of the Earth and record the returning signal.
Furthermore, based on application the global satellite sensor market can be categorized into weather and atmosphere monitoring, earth observation and mapping, astronomical and planetary exploration, communication, navigation, and others. The navigation segment can be further sub-segmented into air navigation, sea navigation, and land navigation. By end use, the satellite sensor market can be bifurcated into mining, engineering and construction, defense and security, media & entertainment, travel & tourism, military, and agriculture. Among all the end-use segment, the military segment is anticipated to dominate the global satellite sensor market during the forecast period. This is mainly due to the significant share of the US funding for remote sensing goes in military sector only. The geographical segment can be diversified into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Among all the regions North America is anticipated to be the dominant region and holding largest share during the forecast period. This is mainly due to increasing technological advancement in developed countries of North America including the United State, Canada, and other developing countries.
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Satellite Sensor Market: Key Players
High investment in research and development activities is the manufacturer’s strategy to cope up with technological advancement and survive in the highly competitive market. Some of the leading manufacturers operating in the global satellite sensor market include ITC, IKONOS, Audio Enhancement, SEOS, Earthdata, Antrix Corporation Limited, The Sanborn Map Company, Inc., GEO Sense SDN. BHD., Mallon Technology, Satellite Imaging Corporation, among others.
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