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Remote Sensing Technology Market Share

Report ID: GMI8566
Published Date: Mar 2024
Report Format: PDF

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Remote Sensing Technology Market Share

General Dynamics Mission Systems, Inc., and Maxar Technologies Inc. hold over 10% of the market share in the remote sensing technology industry. Companies in the remote sensing technology industry employ several key strategies to enhance their market foothold. General Dynamics Mission Systems, Inc. competes in the remote sensing technologies market with a range of solutions for defense, intelligence, and commercial applications. Key competitors include Lockheed Martin, Raytheon Technologies, and Northrop Grumman, which offer similar capabilities in satellite imaging, sensor systems, and data analytics. Differentiation lies in expertise, product performance, and customer relationships within the highly competitive remote sensing sector.

Maxar Technologies Inc. is a major player in the remote sensing technologies market, offering cutting-edge satellite imaging and geospatial solutions. Competitors, such as Airbus Defence and Space, Planet Labs, and DigitalGlobe (a subsidiary of Maxar), vie for market share. Maxar's strengths lie in its high-resolution imaging capabilities, advanced analytics, and extensive experience in providing geospatial intelligence for defense, commercial, and government customers worldwide.

Remote Sensing Technology Market Companies

Major players operating in the market are:

Esri
General Dynamics Mission Systems, Inc.
Hexagon AB
ITT Inc.
Lockheed Martin Corporation
Maxar Technologies Inc.
Northrop Grumman Corporation
Orbital Insight
Planet Labs Inc.
Thales Group

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size for remote sensing technology was valued at USD 16.3 billion in 2023 and is estimated to register a CAGR of over 10.5% between 2024 & 2032, driven by collaborations among space agencies and demand for precision farming solutions.

Passive remote sensing technology industry segment is expected to hold around 54% revenue share by 2032, due to its non-intrusive nature and lower operational costs.

North America market accounted for over 28% revenue share in 2023 and will continue to showcase impressive growth trends over 2024-2032, driven by increasing investments in satellite programs and government initiatives for environmental monitoring.

Esri, General Dynamics Mission Systems, Inc., Hexagon AB, ITT Inc., Lockheed Martin Corporation, Maxar Technologies Inc., Northrop Grumman Corporation, Orbital Insight, Planet Labs Inc., Thales Group are some of the major industry contenders.