Synthetic Aperture Radar (SAR) Market in Space Sector 2018-2024 Key Vendors are Airbus SE, BAE Systems, Harris Corporation, Lockheed Martin, Northrop Grumman Corporation, Raytheon Company, Thales Group

Synthetic Aperture Radar (SAR) Market in Space Sector to exceed USD 4 billion by 2024; according to a new research report by Global Market Insights, Inc.

Remote sensing solutions for developing high resolution imagery for applications of earth observation, weather monitoring, biomass measurement, space exploration, and ocean monitoring is expected to provide strong growth opportunity for Synthetic Aperture Radar (SAR) Market in Space Sector. Moreover, capability of these systems to perform efficiently, even in absence of light and cloudy weather conditions will inadvertently propel the Synthetic Aperture Radar (SAR) Market in Space Sector growth.

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Europe accounted for the largest share in 2017, is expected to cross USD 2 billion by 2024. This can be credited to the high number of projects in Russia, Germany, the UK, and Finland. Moreover, high emphasis of European Space Agency (ESA) on navigation, earth observation, scientific program, technology support, and situational awareness has significantly contributed to the industry growth. According to the ESA budget for 2018, over 52% of the assigned budget capital was dedicated towards these activities, driving the Synthetic Aperture Radar (SAR) Market in Space Sector growth.

Synthetic Aperture Radar (SAR) Market in Space Sector, By Frequency Band

• Single Frequency Band
o X Band
o C Band
o S Band
o L Band
o K/Ku/Ka Band
o Others
• Multi-frequency band

Synthetic Aperture Radar (SAR) Market in Space Sector, By Application

• Defense
• Research & Commercial
o Public Safety
o Environmental Monitoring
o Natural Resource Exploration
o Others

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Single frequency band contributed the largest Synthetic Aperture Radar (SAR) Market in Space Sector share in 2017, owing to its conventional applications in the military operations. X band was the largest frequency bandwidth in utilization in 2017 and is expected to continue its dominance over the forecast period. This can be attributed to its extensive applications in geographical mapping, military surveillance and reconnaissance.

Research & commercial applications are expected to witness inorganic growth over the forecast timeframe. Significant growth opportunity in the disaster management, weather updates, meteorology, navigation and natural resource exploration are among the dominant end use that will provide the strong growth prospects to the Synthetic Aperture Radar (SAR) Market in Space Sector. For instance, multiple constellation projects in Canada are expected to largely focus on the maritime navigation and ocean surveillance for tracking the trade and transport in the North Atlantic Ocean.

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Growing commercialization of imagery data obtained through these satellites are among the major trend gaining traction in the Synthetic Aperture Radar (SAR) Market in Space Sector. Requirement to capitalize on these business opportunities has in turn led to intense competitive scenario among the industry participants. For instance, in October 2015, U.S. Department of Commerce (DoC) provided the license to XpressSAR Inc. to operate commercial and private space based synthetic aperture radar sensing system. It was the first wholly U.S. owned company approved to operate constellation of four commercial X-Band radar satellites.

Global Synthetic Aperture Radar (SAR) Market in Space Sector share is highly consolidated owing to the requirement of high initial cost, exceptionally skilled workforce, and multiple regulatory compliances. Major industry participants include Airbus SE, BAE Systems, Capella, Harris Corporation, Iceye, Israel Aerospace Industries, Lockheed Martin Corporation, MDA Information Systems, Northrop Grumman Corporation, Raytheon Company, Thales Group, and Uthercast.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
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