https://www.fortunebusinessinsights.com/remote-sensing-satellite-market-107838
Remote Sensing Satellite Market Forecast,
Emerging Trends, Analysis, 2023–2030
According to Fortune Business Insights™, the global remote sensing satellite market size was
valued at USD 9.67 billion in 2022 and is projected to grow from USD 14.11 billion in 2023
to USD 29.19 billion by 2030, exhibiting a CAGR of 10.9% during the forecast period. This
significant growth is driven by increased demand across civil, military, and government
sectors for applications ranging from agriculture to disaster management.
What is Remote Sensing?
Remote sensing involves the collection of data from a distance using satellites. These
satellites play a critical role in enhancing situational awareness, especially in scenarios with
limited ground intelligence. Their applications span across industries, including weather
forecasting, climate monitoring, agriculture, defense, and disaster response, making them
indispensable for modern decision-making.
Key Market Players
Prominent companies contributing to the remote sensing satellite industry include:
Maxar Technologies (U.S.)
Airbus (France)
Planet Labs PBC (U.S.)
Umbra Lab Inc. (U.S.)
Orbital Sidekick (U.S.)
Pixxel (India)
Satellite Imaging Corporation (U.S.)
https://www.fortunebusinessinsights.com/remote-sensing-satellite-market-107838
Lockheed Martin Corporation (U.S.)
Northrop Grumman Corporation (U.S.)
Boeing (U.S.)
Thales Group (France)
Indian Space Research Organization (India)
These key players are heavily involved in satellite manufacturing, data analytics, and Earth
observation programs across the globe.
Source:
https://www.fortunebusinessinsights.com/remote-sensing-satellite-market-107838
Segments
By Orbit Analysis
The remote sensing satellite market, based on orbit, is categorized into LEO (Low Earth
Orbit), MEO (Medium Earth Orbit), GEO (Geostationary Earth Orbit), and others. Among
these, the LEO segment dominated the market and is projected to grow at the highest rate
over the forecast period. LEO satellites are positioned closer to the Earth, making them more
accessible for maintenance and crew interactions. Their proximity to ground stations also
results in reduced communication latency, enhancing real-time data transfer capabilities.
Additionally, due to their orbiting trajectory, LEO satellites can provide near-complete Earth
surface coverage, making them ideal for diverse monitoring and observation applications.
By Application Analysis
In terms of application, the market is segmented into disaster management, weather
forecasting, oceanography, ecology, and others. The disaster management segment is
anticipated to hold the largest share of the market and register the fastest CAGR during the
forecast period. This growth is driven by the increasing utilization of remote sensing satellites
for humanitarian operations. These satellites are capable of capturing imagery that helps
identify disaster-affected regions and victims, facilitating faster rescue operations. For
instance, during Cyclone Biparjoy in June 2023, Indian satellites INSAT-3D and INSAT-
3DR enabled accurate forecasting, helping authorities evacuate over 100,000 people safely in
advance.
By End User Analysis
The market, based on end user, is classified into civil, military, and government sectors.
Among these, the military segment is expected to lead the market throughout the forecast
period. The growing geopolitical tensions and territorial disputes are compelling nations to
invest in advanced satellite-based defense infrastructure. Remote sensing satellites play a
crucial role in enhancing Intelligence, Surveillance, and Reconnaissance (ISR) operations.
They provide critical spatial data like terrain mapping, altitude information, and navigational
support. A notable development occurred in August 2022 when Russia launched the
“Khayyam” satellite for Iran from the Baikonur Cosmodrome using a Soyuz rocket,
highlighting the strategic role of satellite technology in modern military capabilities.
By Payload Analysis
Based on payload, the market is segmented into less than 500 kg, 500 kg to 1,000 kg, and
above 1,000 kg. The segment comprising satellites with payloads above 1,000 kg held the
largest market share and is expected to maintain its lead over the forecast period. This is
attributed to the rising demand for heavy military satellites designed to support various
functions for land, naval, and air forces. These satellites are engineered to deliver high-
resolution imagery, extended operational lifespans, and robust ISR support, making them
vital assets for defense agencies around the world.
Market Dynamics
Growth Drivers
1. Modernization of Agricultural Monitoring
The adoption of remote sensing in agriculture has revolutionized crop management practices.
Satellite data enables farmers to monitor crop health, detect irrigation issues, and assess field
variability through LiDAR, optical, and thermal sensors. Precision farming techniques,
supported by satellites, are increasing food production efficiency and sustainability.
2. Increasing Military Applications
With rising geopolitical tensions and defense modernization, military agencies are
increasingly deploying satellites for enhanced intelligence, surveillance, and reconnaissance
(ISR) capabilities. Satellite imaging allows militaries to analyze terrain, monitor borders, and
conduct secure operations in real-time.
Restraints
High Satellite Density in LEO May Hamper Market Expansion
The overpopulation of satellites in Low Earth Orbit (LEO) is raising concerns about space
debris. As older, non-operational satellites remain in orbit, the risk of collisions and
formation of space junk increases, contributing to the Kessler Syndrome—a scenario that
could make future space missions highly challenging.
Notable Market Trends
Adoption of AI & ML in Remote Sensing Satellites
The integration of Artificial Intelligence (AI) and Machine Learning (ML) in satellite systems
is transforming the market. AI-enabled satellites can process data onboard, filtering and
sending only valuable information to ground stations. This approach significantly reduces
transmission latency and supports applications such as:
Climate prediction
Crop yield forecasting
Wildlife tracking
Geological mapping
Regional Insights
North America
Market Value (2022): USD 3.22 billion
Dominated by defense-related satellite deployments.
Key players: Maxar Technologies, Planet Labs
Strong focus on ISR capabilities and commercial Earth observation services.
Asia Pacific
Expected to register the highest growth rate by 2030.
Growing adoption in agriculture, energy, mining, and disaster management in
countries like India, China, and South Korea.
Notable innovations by private startups such as Pixxel and Azista BST Aerospace.
Europe
Witnessing significant investments in advanced satellite technologies.
Presence of major players like Airbus and ICEYE.
The market is supported by increased R&D funding and government initiatives.
Middle East & Africa
Moderate growth due to new national space initiatives.
Countries like UAE, Israel, and South Africa are investing in satellite technologies.
Example: In 2023, Bayanat and Yahsat collaborated to enhance UAE’s Earth
Observation capabilities.
Latin America
Growth driven by applications in ecology, weather forecasting, and defense.
Rising participation from Brazil and Argentina in Earth observation programs.
Competitive Landscape
Partnerships & Collaboration Fuel Innovation
The competitive landscape is shaped by strategic partnerships and collaborative satellite
missions. Key alliances focus on:
Data-sharing agreements
Co-development of synthetic aperture radar (SAR) capabilities
Integration of AI for image optimization
Example: Umbra Lab Inc. partnered with Ursa Major Technologies Inc. to improve SAR
imagery in poor visibility conditions.
Strategic Developments
January 2023 – Azista BST Aerospace (India) launched its first remote sensing
satellite, AFR First Runner, from California.
November 2022 – Exobotics (UK) secured a contract to develop a high-precision
Earth observation satellite to explore mineral-rich regions using advanced imaging
technology.