Synthetic Aperture Radar In Space Sector Market World's Top Players Include Airbus SE, Lockheed Martin Corporation, Israel Aerospace Industries, Thales Group

The global synthetic aperture radar in space sector market was valued at US$ 600.6 Mn in 2016 and is expected to be pegged at US$ 1,714.0 Mn by 2025, registering a CAGR of 12.50% over the forecast period. Increasing requirement of environment monitoring, public safety, and natural resource exploration is major factor fueling growth of the industry.

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Increasing Demand for Technology in enhancing Situational Awareness is key factor driving growth of the market

Adoption for advanced technologies in space sector is fueling situational awareness, owing to factors such as government initiatives toward disaster management, increasing need for cyber security, public safety, and smart infrastructure management. For instance, in December 2005, Indian government took initiative towards disaster management by enacting the Disaster Management Act, 2005, which envisioned the creation of the National Disaster Management Authority (NDMA).

Single-frequency band segment dominated the market in 2016 and expected to retain its dominance during the forecast period

Among the frequency band segment, single-frequency band accounted for the largest share of 84.73% in the global SAR in space sector market in 2016. This growth is attributed to the growing requirement of the data generated by SARs for various defense, research, and commercial applications, including natural resource exploration and tracking ship movements in areas with bad weather conditions.

Defense application accounted for largest share in global SAR in space sector market in 2016

Among application segment defense application is expected to witness a CAGR of 11.43% over the forecast period. This growth is attributed to the growing requirement of the data generated by SARs for various defense applications that include surveillance, reconnaissance, and environmental monitoring in areas with bad weather conditions.

North America accounted for the largest market share in 2016
The market in North America accounted largest share in global SAR market for space sector application. The North America SAR market in Space Sector was valued at about US$ 246.3 million in 2016. The U.S. and Canada are the major economies driving the market of SAR in space sector in North America region, prominently owing to the growing number of SAR constellation deployments in space.

Key companies

Major players operating in the global synthetic aperture radar in space sector market include Airbus SE, Lockheed Martin Corporation, Israel Aerospace Industries, Thales Group, Northrop Grumman Corporation, MDA Information Systems, Raytheon Company, Harris Corporation, and BAE Systems.

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Detailed Segmentation:

• Global Synthetic Aperture Radar In Space Sector Market, By Platform:

o Space Platform
o Ground Platform

• Global Synthetic Aperture Radar In Space Sector Market, By Application:

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

• Global Synthetic Aperture Radar In Space Sector Market, By Geography:

o North America
o Europe
o Asia Pacific
o Latin America
o Middle East
o Africa

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This release was published on openPR.