Remote Sensing Technology Market is Estimated to Grow Approximately by 10% of CAGR from 2017 to 2023

“Remote Sensing Technology Market”
Remote Sensing Technology Market, By Technology (Active Remote Sensing Passive Remote Sensing), By Application (Landscape Assessment, Geology and Mineral Exploration) – Global Forecast 2023

Market Highlights

In this technologically driven environment with development in each and every sector, the Remote Sensing Technology Market is coming up with whole new innovation in sensing technology. Remote sensing refers to the activities of recording, observing, perceiving (sensing) objects or events at remote places. In remote sensing, the sensors are not in direct contact with the objects or events being observed. The information needs a physical carrier to travel from the objects to the sensors through an intervening medium. The electromagnetic radiation is normally used as an information carrier in remote sensing.

 

The remote sensing technology market is growing rapidly over 10% of CAGR and is expected to reach at USD 18 billion by the end of forecast period.

 

Market Players:

  • General Dynamics Corp. (U.S.)
  • Northrop Grumman Corporation (U.S.)
  • Raytheon Corporation (U.S.)
  • Lockheed Martin Corporation (U.S.)
  • Honeywell Technology Solutions Inc. (U.S.)
  • ITT Corp. (U.S.)
  • Thales Group (France)
  • Lumasense Technologies, Inc. (U.S.)
  • Leica Geosystems Holdings AG (Switzerland)

 

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Remote Sensing Technology Market Segmentation

The remote sensing technology market has been segmented on the basis of technology and application. Remote sensing in agriculture produces precise prescriptions for precision agriculture, the agriculture yield increases and expenses for chemicals, fertilizers and water are decreased. This combination results in higher profit margins for farmers and agricultural producers.

 

Market Research Analysis:

Market Research Future Analysis shows the remote sensing in oceanography, is to determine ocean color and remote sensing algorithms to distinguish different types of water, and the constituents that determine a particular color. An accurate algorithm can calculate the effectiveness of suspended particles in the muddy water and the concentration of chlorophyll in turbid and clear water.

 

Regional analysis for remote sensing technology market is studied in different geographic regions as North America, Europe, Asia-Pacific and Rest of world. North America region is mainly dominating the market because of advanced technology implementation in remote sensing and its application. The European region is also gaining growth because of increase demand of remote sensing devices in projects such as inventories of real emissions of vehicle fleets and identification of high emitters in dynamic payment schemes based on the level of the emissions of a vehicle and creation of consciousness for the reduction of emissions and gas consumption.

 

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Intended Audience

– IT Solution Providers

– Government Organizations

– Research/Consultancy firms

– Sensors Manufacturers

– Technology Solution Providers

– Defense Force Organization

 

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