Multiple Opportunities Drive Global Market for Synthetic Aperture Radar in Space Sector 2024 Key Vendors: Lockheed Martin, Airbus, BAE Systems, Harris Corporation, Northrop Grumman, Raytheon, Thales, and Uthercast
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Synthetic Aperture Radar (SAR) In Space Sector Market size is estimated 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 SAR in space sector market. Moreover, capability of these systems to perform efficiently, even in absence of light and cloudy weather conditions will inadvertently propel the industry growth.
Requirement for high resolution remote sensing and imaging solutions development for earth observation, biomass measurement, weather monitoring, ocean monitoring, and space exploration is expected to be the prominent factor fueling the SAR in space sector market. Requirement of optimum lighting conditions and absence of cloud cover for efficient operations of optical imaging solutions are expected to leverage the radar solutions demand over the forecast period.
Growing commercialization of imagery data obtained through these satellites are among the major trend gaining traction in the SAR in space sector market. 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.
Synthetic Aperture Radar (SAR) In Space Sector Market, By Frequency Band
• Single Frequency Band
o X Band
o C Band
o S Band
o L Band
o K/Ku/Ka Band
• Multi-frequency band
Synthetic Aperture Radar (SAR) In Space Sector Market, By Application
• Research & Commercial
o Public Safety
o Environmental Monitoring
o Natural Resource Exploration
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Single frequency band contributed the largest industry 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 SAR in space sector market. 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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Global SAR in space sector market 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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