The Synthetic aperture radar in space sector market was valued at US$ 600.6 Mn in 2016 and is expected to be pegged at US$ 1,714.0 Mn by 2025, registering a CAGR of 12.50% over the forecast period,Synthetic aperture radar in space sector market refers to the space and ground-based SARs that function on the principle of transmission and reception of the reflected signals, which interact with the ground and aid in the imaging, tracking, detection, and characterization. SAR finds significant applications over the conventional electro optical (EO) imaging systems, primarily owing to microwaves being able to penetrate through clouds and provide consistent weather data efficiently for 24 hours.
Market Dynamics:
Increasing participation of emerging economies in space industry is key factor driving growth of the market. According to Coherent Market Insights, global spending in space programs has escalated over US$ 60 billion in 2016 from around US$ 44 billion in 2014. Some of the major economies in the global space industry include the U.S., Germany, France, the U.K., Italy, Russia, China, Japan, India, South Korea, and Brazil. All these economies invest around or over US$ 500 million annually. Multi-satellite constellation programs, advent of commercial applications that include the environmental monitoring, disaster management, natural resource exploration are projected to witness strong growth demand over the forecast period. For instance, Capella program in North America, Iceye X projects in Finland, Constellation of Small Satellites for Mediterranean basin observation (COSMO-SkyMed) in Italy, OptiSAR Radar constellation in Canada are among the major earth observation projects that are expected to fuel the overall growth of the SAR in space sector market over the forecast period.
Key features of the study:
This report provides in-depth analysis of Synthetic aperture radar in space sector market, market size (US$ Million), and Cumulative Annual Growth Rate (CAGR %) for the forecast period (2017– 2025), considering 2016 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategies adopted by the leading players
It profiles leading players in the global synthetic aperture radar in space sector market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
Key companies covered as a part of this study include Airbus SE, Lockheed Martin Corporation, Israel Aerospace Industries, Thales Group, Northrop Grumman Corporation, MDA Information Systems, Raytheon Company, Harris Corporation, and BAE Systems
Insights from this report would allow marketers and management authorities of companies to make informed decisions regarding their future product launches, product up-grades, expansion, and marketing tactics
The global synthetic aperture radar in space sector market report caters to various stakeholders in this industry, including investors, suppliers, manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the synthetic aperture radar market in space sector market
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