Growing at a CAGR of 16.0% | The North America Remote Sensing Services Market Reach USD 35.34 Billion by 2031

According to the report published by Allied Market Research, Growing at a CAGR of 16.0% | The North America Remote Sensing Services Market Reach USD 35.34 Billion by 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers valuable able guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining a competitive edge in the market.

Rise in advancements in remote sensing technologies, increase in demand for remote sensing data in defense, and growth in adoption of remote sensing technology for environmental risk management drive the North America remote sensing services market. Emergence of technologies such as cloud computing, big data analytics, and Internet of Things (IoT) and surge in investments in satellite communication and ISR payloads are expected to create lucrative opportunities in the industry.

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The global North America remote sensing services market was valued at USD 8,240.0 million in 2021, and is projected to reach USD 35,346.90 million by 2031, growing at a CAGR of 16.0% from 2022 to 2031.

The North America remote sensing service market is segmented on the basis of platform, resolution, end user, and country. On the basis of platform, it is categorized into satellite, UAVs, manned aircraft, and ground. On the basis of resolution, it is classified into spatial, spectral, radiometric, and temporal. By end user, it is bifurcated into defense and commercial. Country wise, it is analyzed across the U.S. and Canada

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Based on platform, the ground segment accounted for more than two-fifths of the North America remote sensing services market share in 2021, and is expected to rule the roost by 2031, owing to the fact that the ground-based remote sensing techniques are cheaper and less labor intensive than alternative options of excavation. The UAVs segment, however, is projected to register the fastest CAGR of 18.2% throughout the forecast period. Various governments including the government of the U.S. are making policies to push tribal communities into mainstream public for their social and economic growth. This factor drives the segment growth.

Based on end user, the defense segment contributed to nearly three-fifths of the North America remote sensing services industry revenue in 2021, and is anticipated to dominate throughout the forecast period. This is due to decrease in cost of high-quality space-based remote sensing products and services with numerous opportunities for country or defense organizations to access space and remote sensing abilities. The commercial segment, on the other hand, would cite the fastest CAGR of 16.8% by 2031. This is because top enterprises are investing in commercial remote sensing technology.

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Based on geography, the U.S. garnered the major share in 2021, generating 91% of the North America remote sensing services market. This is attributed to the fact that the remote sensing space industry can augment and potentially replace some existing U.S. government capabilities and can contribute to the U.S. military, intelligence, foreign policy, homeland security, and civil objectives, as well as U.S. economic competitiveness. The region across Canada, simultaneously, would manifest the fastest CAGR of 17.6% from 2022 to 2031. Remote sensing services play a vital role in development of natural resources in Canada for their discovery, regulation, production, development, and remediation, which drives growth of the market.

This report gives an in-depth profile of some key market players in the North America remote sensing services market, include Barracuda Network, Inc, Boeing Inc., Lockheed Martin Corporation., MAXAR, Radware Ltd., Satellite Imaging Corporation, SPECTIR, Terra Remote Sensing, The Airborne Sensing Corporation and The SANBORN MAP.

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Covid-19 Scenario

● The outbreak of the pandemic impacted the North America remote sensing services market positively, due to rise in adoption of remote sensing services by public health agencies, administrators, and policy make use of remote sensing services was also helpful in terms of understanding the outbreak patterns in real-time.

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