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Remote Sensing Satellites Market Size

The remote sensing satellite market is projected to experience substantial growth, driven by the rising demand for high-speed internet, communication services, and data transfer across various industries. The market's expansion is influenced by the increasing deployment of satellites in low Earth orbit, which offers advantages such as high-resolution imaging and reduced latency. North America is anticipated to lead in market share due to the presence of major industry players and significant government investment in satellite technology. Europe and Asia-Pacific are also expected to see considerable growth, fueled by the demand for advanced satellite services and navigation systems.

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Market Size of remote sensing satellites Industry

Remote Sensing Satellites Market Summary
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svg icon Study Period 2017 - 2029
svg icon Market Size (2024) USD 43.36 Billion
svg icon Market Size (2029) USD 76.88 Billion
svg icon Largest Share by Orbit Class LEO
svg icon CAGR (2024 - 2029) 12.14 %
svg icon Largest Share by Region North America

Major Players
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*Disclaimer: Major Players sorted in no particular order

Key Players

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Remote Sensing Satellite Market Analysis

The Remote Sensing Satellites Market size is estimated at USD 43.36 billion in 2024, and is expected to reach USD 76.88 billion by 2029, growing at a CAGR of 12.14% during the forecast period (2024-2029).

43.36 Billion

Market Size in 2024 (USD)

76.88 Billion

Market Size in 2029 (USD)

10.57 %

CAGR (2017-2023)

12.14 %

CAGR (2024-2029)

Largest Market by Satellite Mass

76.63 %

value share, above 1000kg, 2022

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Large satellites register higher demand due to applications such as satellite radio, communications, remote sensing, planetary security, and weather forecasting.

Largest Market by Satellite Subsystem

42.50 %

value share, Propulsion Hardware and Propellant, 2022

The demand for these propulsion systems is driven by the launch of mass satellite constellations into space. They are used for transferring the spacecraft into orbit.

Largest Market by Orbit Class

87.05 %

value share, LEO, 2022

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LEO satellites are increasingly being adopted in modern communication technologies as they play an important role in Earth observation applications.

Largest Market by End User

92.71 %

value share, Military & Government, 2022

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The military and government segment is expected to grow significantly due to the increasing use of satellites in surveillance missions and the rising involvement of government space agencies in satellite development programs.

Leading Market Player

38.72 %

market share, China Aerospace Science and Technology Corporation (CASC), 2022

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China Aerospace Science and Technology Corporation (CASC) is the largest player in the market. It offers a diverse range of launch vehicles and adopts a competitive pricing strategy to attract customers globally.

Demand for LEO satellites is driving the market and registers a share of 79.5% in 2029

  • Various remote sensing satellites orbit the Earth at varying distances depending on their design and primary purpose. These satellites are launched or placed into different orbits according to their purposes/applications. Each satellite deployed into orbit has its own benefits and challenges, which include increased coverage and decreased energy efficiency.
  • Around 90% of the remote sensing satellites launched between 2017 and 2022* were placed in low Earth orbit for Earth observation and science, among other applications. This is because of the close proximity of this orbit to the Earth, which helps send spatial high-resolution images without any latency. Therefore, with the increased benefits of this orbit, the demand for these satellites to be deployed in the LEO orbit is expected to rise during the forecast period. Similarly, during 2017-2022, of the 56 satellites launched in the MEO orbit, 46 were built for Navigation/Global Positioning purposes. Of the 147 satellites in the GEO orbit, 105 satellites have been deployed for communication applications.
  • The increasing use of remote sensing satellites for purposes such as electronic intelligence, Earth science/meteorology, laser imaging, optical imaging, and meteorology is expected to drive the demand for the remote sensing satellites market during the forecast period.
Global Remote Sensing Satellites Market

Asia-Pacific is expected to witness highest growth during the forecast period

  • The global remote sensing satellite market is expected to grow significantly over the coming years, driven by increasing demand for high-speed internet, communication services, and data transfer across different industries. North America, Europe, and Asia-Pacific are the major regions in terms of market share and revenue generation. During 2017-2022, a total of 147 remote sensing satellites were manufactured and launched.
  • North America is expected to dominate the global remote sensing satellite market due to the presence of several leading market players, such as Boeing, Lockheed Martin, and Northrop Grumman, in the region. The US government is also investing heavily in the development of advanced satellite technology, which is expected to drive the growth of the market in North America. During 2017-2022, the region accounted for 30% of the total remote sensing satellites manufactured.
  • The remote sensing satellite market in Europe is expected to grow significantly due to the increasing demand for high-speed internet and communication services. The European Space Agency (ESA) has been investing heavily in the development of advanced satellite technology, which is expected to drive the growth of the market in the region. During 2017-2022, the region accounted for 11% of the total remote sensing satellites manufactured.
  • Asia-Pacific is expected to witness significant growth in the remote sensing satellite market due to the increasing demand for satellite-based communication services and navigation systems in countries such as China, India, and Japan. During 2017-2022, the region accounted for 59% of the total remote sensing satellites manufactured.

Remote Sensing Satellites Industry Segmentation Remote Sensing Satellite Industry Segmentation

10-100kg, 100-500kg, 500-1000kg, Below 10 Kg, above 1000kg are covered as segments by Satellite Mass. GEO, LEO, MEO are covered as segments by Orbit Class. Propulsion Hardware and Propellant, Satellite Bus & Subsystems, Solar Array & Power Hardware, Structures, Harness & Mechanisms are covered as segments by Satellite Subsystem. Commercial, Military & Government are covered as segments by End User. Asia-Pacific, Europe, North America are covered as segments by Region.

  • Various remote sensing satellites orbit the Earth at varying distances depending on their design and primary purpose. These satellites are launched or placed into different orbits according to their purposes/applications. Each satellite deployed into orbit has its own benefits and challenges, which include increased coverage and decreased energy efficiency.
  • Around 90% of the remote sensing satellites launched between 2017 and 2022* were placed in low Earth orbit for Earth observation and science, among other applications. This is because of the close proximity of this orbit to the Earth, which helps send spatial high-resolution images without any latency. Therefore, with the increased benefits of this orbit, the demand for these satellites to be deployed in the LEO orbit is expected to rise during the forecast period. Similarly, during 2017-2022, of the 56 satellites launched in the MEO orbit, 46 were built for Navigation/Global Positioning purposes. Of the 147 satellites in the GEO orbit, 105 satellites have been deployed for communication applications.
  • The increasing use of remote sensing satellites for purposes such as electronic intelligence, Earth science/meteorology, laser imaging, optical imaging, and meteorology is expected to drive the demand for the remote sensing satellites market during the forecast period.
Satellite Mass
10-100kg
100-500kg
500-1000kg
Below 10 Kg
above 1000kg
Orbit Class
GEO
LEO
MEO
Satellite Subsystem
Propulsion Hardware and Propellant
Satellite Bus & Subsystems
Solar Array & Power Hardware
Structures, Harness & Mechanisms
End User
Commercial
Military & Government
Other
Region
Asia-Pacific
Europe
North America
Rest of World
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Remote Sensing Satellites Market Size Summary

The remote sensing satellite market is poised for substantial growth, driven by the increasing demand for advanced satellite technology across various applications such as Earth observation, communication, and navigation. These satellites are strategically placed in different orbits, with a significant portion deployed in low Earth orbit due to its advantages in providing high-resolution images with minimal latency. The market is characterized by the rising use of remote sensing satellites for diverse purposes, including electronic intelligence and meteorology, which is expected to fuel demand during the forecast period. The proliferation of small satellites, which offer cost-effective solutions for traditional satellite functions, is further enhancing market dynamics, with regions like North America, Europe, and Asia-Pacific leading in manufacturing and launching these satellites.

North America is anticipated to maintain its dominance in the remote sensing satellite market, supported by the presence of major industry players and substantial government investments in satellite technology. The European market is expected to grow significantly, driven by the European Space Agency's initiatives and increasing demand for communication services. Meanwhile, the Asia-Pacific region is witnessing rapid expansion due to the burgeoning demand for satellite-based communication and navigation systems, particularly in countries like China, India, and Japan. The market is fairly consolidated, with key players such as China Aerospace Science and Technology Corporation, Japan Aerospace Exploration Agency, and Lockheed Martin Corporation playing pivotal roles. These developments underscore the strategic importance of remote sensing satellites in global communication, navigation, and Earth observation efforts.

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Remote Sensing Satellites Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size in Value in USD, Forecasts up to 2029 and analysis of growth prospects)

    1. 1.1 Satellite Mass

      1. 1.1.1 10-100kg

      2. 1.1.2 100-500kg

      3. 1.1.3 500-1000kg

      4. 1.1.4 Below 10 Kg

      5. 1.1.5 above 1000kg

    2. 1.2 Orbit Class

      1. 1.2.1 GEO

      2. 1.2.2 LEO

      3. 1.2.3 MEO

    3. 1.3 Satellite Subsystem

      1. 1.3.1 Propulsion Hardware and Propellant

      2. 1.3.2 Satellite Bus & Subsystems

      3. 1.3.3 Solar Array & Power Hardware

      4. 1.3.4 Structures, Harness & Mechanisms

    4. 1.4 End User

      1. 1.4.1 Commercial

      2. 1.4.2 Military & Government

      3. 1.4.3 Other

    5. 1.5 Region

      1. 1.5.1 Asia-Pacific

      2. 1.5.2 Europe

      3. 1.5.3 North America

      4. 1.5.4 Rest of World

Remote Sensing Satellites Market Size FAQs

The Remote Sensing Satellites Market size is expected to reach USD 43.36 billion in 2024 and grow at a CAGR of 12.14% to reach USD 76.88 billion by 2029.

In 2024, the Remote Sensing Satellites Market size is expected to reach USD 43.36 billion.

Remote Sensing Satellite Market Report Snapshots

Remote Sensing Satellite Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)