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Synthetic Aperture Radar Market in Europe to Surpass USD 2.3 Billion By 2024 | Key Players are Harris Space and Intelligence Systems, Terra SAR-X, OptiSAR and startups like ICEYE and Capella Space.
Synthetic Aperture Radar Market
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 Synthetic Aperture Radar market 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.
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In 2015, U.S. Department of Commerce (DoC) approved the license of XpressSAR Inc., to operate private and commercial synthetic aperture radars. It was the first 100% U.S. owned company approved to operate a constellation of four X band radars for commercial applications. Utilization of the imagery data for commercial applications is to be among the prominent trend gaining traction across the globe. Moreover, revenue generation opportunities presented by these solutions is expected to leverage the competitive scenario and Synthetic Aperture Radar market in space sector market growth.
R&D activities to reduce the size and weight of the overall systems is expected to remain the prime focus of the industry participants. For instance, in January 2018, Iceye deployed its first micro-SAR satellite in the orbit with the ability to generate two and three-dimensional images for different applications. Such technological innovations are expected to present strong growth platform for the Synthetic Aperture Radar market in space sector from 2018 to 2024.
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Single frequency band is expected to continue its dominance in the global Synthetic Aperture Radar market in space sector market share. High utilization of single frequencies for appropriate missions, specifically for military surveillance and reconnaissance will drive the segment growth. In 2017, X band synthetic aperture radar dominated the single frequency band. This can be credited to its extensive applications in military surveillance, geographical mapping and reconnaissance.
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Global Synthetic Aperture Radar market in space sector is consolidated in nature with limited presence of the participants contributing the significant share of the industry. This can be attributed to the high initial capital requirement, skilled workforce, and the heavy procedural government approvals required for the projects. Some of the major players in the Synthetic Aperture Radar market in space sector market include Airbus SE, Capella, BAE Systems, Iceye, Harris Corporation, Lockheed Martin Corporation, Israel Aerospace Industries, Northrop Grumman Corporation, MDA Information Systems, Thales Group, Raytheon Company, and Uthercast.
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