Shulou(Shulou.com)11/24 Report--

"As things stand now, the combination of data sources and faster analysis make remote sensing satellites increasingly important for a wide range of applications.

Remote sensing is a key technology for obtaining information related to the Earth's resources and environment. Remote sensing satellites detect and record energy emitted from the Earth's surface, and are used by both commercial and military end-users to ensure data-informed decision-making based on the current and future state of the Earth or specific points of interest located on its surface.

The remote sensing satellite market is segmented according to application, end-user and geographic location. By application, the market is divided into Earth observation, meteorology, mapping and navigation. By end-user, the market is divided into defense and commercial, and geographically into North America, Europe, Asia Pacific, Latin America, Middle East and Africa.

01. Overview of Satellite Remote Sensing Market

The remote sensing satellite market will be valued at $2.59 billion this year and will grow at a CAGR of 4.7 per cent over the forecast period.

Despite the impact of the COVID-19 pandemic on specific industries, satellite manufacturing was largely unaffected by the pandemic. This is due to the satellite industry's high reliance on government contracts, with up to 70% market share in some areas (such as Earth observation).

In addition, the high reliability and survivability of satellite communications services is critical for disaster communications and backup services, shielding the industry from some of the more severe impacts of the global pandemic. However, delays in launch schedules, shutdowns of many satellite production lines and drying up of private financing have thrown emerging operators into disarray, putting them in a cycle of financial distress.

Remote sensing satellite technology has advanced in three areas: atmospheric, marine and terrestrial environmental analysis for military purposes; sensors that can convert electromagnetic spectrum into electronic signals; and aircraft-to-satellite platforms.

The concept of a remote sensing satellite originated with IKONOS in 1999, the world's first remote sensing satellite capable of providing high-resolution images. Quickbird, WorldView-1, GeoEye-1 and WorldView-2 satellites were launched in October 2001, September 2007, September 2008 and October 2009, respectively, with improved resolution.

Remote sensing satellite technology has made many advances in the past few years, and various companies are developing advanced satellites with artificial intelligence. Remote collection and access to space information is one of the most powerful tools for understanding and effectively responding to urgent humanitarian and environmental threats. In the past, this process has been extremely difficult due to limitations on appropriate data.

In recent years, with the continuous improvement of remote sensing technology and methods, countries around the world have made great progress in remote sensing and image processing. Satellite, unmanned aerial vehicle, airborne and terrestrial imaging are constantly improving in terms of data variety, quantity and quality. In the current context, the combination of various data sources and faster analysis have made remote sensing satellites increasingly important for a wide range of applications.

The Earth observation sector is expected to lead the market in areas where conflict, rapid deployment and flexible response place a heavy burden on military commanders and their staff and support systems to keep up with local enemy activity. Space data is critical to informed decision-making in the defence sector, contributing to strategic activities such as battlefield simulation, mission briefing, communications planning, logistics management and command and control.

Remote sensing satellite images and data include spectral, spatial and temporal resolutions. Geographic Information Systems (GIS) also allow military land and facilities managers to reduce base operation and maintenance costs, improve mission efficiency, provide rapid modeling capabilities to analyze alternative strategies, improve communication, and store institutional knowledge.

Developed nations such as the United States, China, and Russia have restructured their militaries to adopt space-based technologies such as space-based intelligence, surveillance, and reconnaissance (ISR) capabilities. Some countries are investing heavily in developing space-based satellite constellations that will enable them to command and control forces around the world and enhance situational awareness capabilities that will enable them to monitor, track and target hostile forces.

Earth observation satellites are used for Earth observation from orbit. These satellites are also used to monitor spy satellites and other similar satellites for non-military purposes such as environmental monitoring.

With increased budgets and spending capacity, several new projects have been announced to better monitor the planet. For example:

In January 2022, NASA announced plans to launch four Earth science missions in 2022. These missions are expected to provide scientists with new data on core climate systems and processes, including extreme storms, surface water and oceans, and atmospheric dust.

Similarly, the Indian Space Research Organisation (ISRO) launched a new Earth Observation Satellite (EOS) in August 2022 for use by users in the country for multiple purposes. Before this satellite, the country's EOS 4 was also launched in February 2022. These satellites were named "Eye of the Sky" to demonstrate their observational capabilities.

Technology companies around the world have been investing in improving existing Earth-monitoring capabilities in order to provide better service to users on the ground. As a result, the demand for better observation satellites is expected to increase in the coming years. For example:

In October 2021, satellite data provider Planet announced plans to launch new orbiting satellites. The company already operates 200 Earth-observing satellites from space and plans to launch a new constellation of satellites called Pelican by 2023 that will be used for mapping services around the world.

A wide range of industries using Earth observation satellites are expected to lead the market over the forecast period (2022-2028).

North America is expected to dominate the market during the forecast period, as the United States has become a global power in space technology due to technological advances by NASA. Satellites are increasingly used for multiple purposes, creating huge demand in the United States and worldwide, creating huge market growth opportunities in various segments of the remote sensing satellite market.

Due to the demand for various network, navigation and entertainment purposes, various satellites are being launched all over the country, increasing market demand. For example:

In August 2022, Northrop Grumman partnered with Lockheed Martin to design and build the mission payload for the Space-based Infrared System Geosynchronous Earth Orbit (SBIRS GEO)-6 satellite. The satellite will be used by the U.S. military for mapping and surveillance purposes, creating excellent future opportunities.

As a result, the United States has been launching new communications and media satellites. For example:

In October 2022, SpaceX's Falcon 9 launched two new satellites, Intelsat's Galaxy 33 and Galaxy 34. These new satellites, equipped with new technologies, will provide Intelsat Media customers in the region with high-performance media distribution capabilities.

Canada has been investing heavily in its remote sensing satellite capabilities. Over the years, the defence sector of the Canadian market has made significant progress in terms of investment and technological advancement. In addition, the country's good diplomatic relations and partnership with the United States make it necessary to invest heavily in defense as part of NORAD.

Starlink Canada and Telesat have been working on a constellation of satellites in low Earth orbit through 2021, providing network services by launching and operating hundreds of satellites by 2022. This will significantly increase demand and kick-start technological advancements in satellite network connectivity for commercial applications and drive huge market growth rates in the United States and Canada over the forecast period.

Although the remote sensing satellite market is characterized by multiple players, due to its large product offerings, the market is dominated by only a few players, such as Lockheed Martin, Northrop Grumman and Airbus.

As traditional satellite manufacturers are not the only investors in the focal market, fundamental changes in market dynamics are expected. Therefore, in order to maintain a competitive advantage, some satellite enterprises plan to manufacture space systems, payloads or subsystems and components in-house.

In addition, major technological changes, such as miniaturization and the emergence of reusable satellite launch vehicle systems, will require subsequent adjustments to seize opportunities in emerging markets.

In addition, due to the long R & D cycles associated with the satellite industry, some companies face certain risks associated with design responsibilities, development of new production tools, additional capital and funding commitments, delivery schedules and unique contractual requirements. These risks, if not addressed quickly, could affect the financial position of market participants and expose them to income volatility.

In October 2022, Russia launched a navigation satellite GLONASS-K from the Plesetsk Cosmodrome. It was launched by a Soyuz-2.1b medium launch vehicle. GLONASS-K will operate as part of the GLONASS radio satellite navigation system.

In August 2022, China Xichang Satellite Launch Center launched the fourth batch of Remote Sensing 35 series by Long March 2D launch vehicle, sending remote sensing satellites into space.

This article comes from Weixin Official Accounts: New Research (ID: chuxinyanjiu), by Tang Shi

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