The remote sensing technology is a characteristic of an object which can be identified, analyzed without any direct contact with the object. It is the very first technology which makes use of light in the infrared portion of electromagnetic spectrum. This technology has its application in landscape assessment, water quality, geology and mineral exploration, and others.
MARKET SCOPE
The "Global Remote Sensing Technology Market Analysis to 2028" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the remote sensing technology market with detailed market segmentation by technology, application, and geography. The report provides key statistics on the market status of the leading remote sensing technology market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
? Based on technology, the global remote sensing technology market is segmented into active remote sensing and passive remote sensing.
? On the basis of application, the market is segmented into agriculture, floodplain mapping and emergency management, geology and mineral exploration, landscape assessment, oceanography, and others.
MARKET DYNAMICS
Drivers:
? The significant drivers of remote sensing technology market are the ability to obtain measurements anytime, regardless of the time of day or season. The mounting demand of autonomous vehicle in which this technology is integrated to sensing system are creating opportunities which will increase the demand for remote sensing technology market in the forecast period.
? The market is likely to showcase opportunities for the untapped markets and growing awareness among the users.
Restraints:
? Interoperability issues may hinder the growth of the remote sensing technology market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The remote sensing technology market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the remote sensing technology market in these regions.
IMPACT OF COVID-19 ON REMOTE SENSING TECHNOLOGY MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the remote sensing technology market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from remote sensing technology market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the remote sensing technology market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
? General Dynamics Corp.
? GEOSYS
? Honeywell International Inc.
? ITT Inc.
? Leica Geosystems Holdings AG
? Lockheed Martin Corporation
? Lumasense Technologies, Inc. (Advanced Energy)
? Northrop Grumman Corporation
? Raytheon Technologies Corporation
? Thales Group