Remote Sensing Satellites Market Size

Remote Sensing Satellite Market Analysis

The Remote Sensing Satellites Market size is estimated at USD 43.36 billion in 2024, and is expected to reach USD 76.88 billion by 2029, growing at a CAGR of 12.14% during the forecast period (2024-2029).

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43.36 Billion

Market Size in 2024 (USD)

76.88 Billion

Market Size in 2029 (USD)

10.57 %

CAGR (2017-2023)

12.14 %

CAGR (2024-2029)

Largest Market by Satellite Mass

76.63 %

value share, above 1000kg, 2022

Large satellites register higher demand due to applications such as satellite radio, communications, remote sensing, planetary security, and weather forecasting.

Largest Market by Satellite Subsystem

42.50 %

value share, Propulsion Hardware and Propellant, 2022

The demand for these propulsion systems is driven by the launch of mass satellite constellations into space. They are used for transferring the spacecraft into orbit.

Largest Market by Orbit Class

87.05 %

value share, LEO, 2022

LEO satellites are increasingly being adopted in modern communication technologies as they play an important role in Earth observation applications.

Largest Market by End User

92.71 %

value share, Military & Government, 2022

The military and government segment is expected to grow significantly due to the increasing use of satellites in surveillance missions and the rising involvement of government space agencies in satellite development programs.

Leading Market Player

38.72 %

market share, China Aerospace Science and Technology Corporation (CASC), 2022

China Aerospace Science and Technology Corporation (CASC) is the largest player in the market. It offers a diverse range of launch vehicles and adopts a competitive pricing strategy to attract customers globally.

Demand for LEO satellites is driving the market and registers a share of 79.5% in 2029

Asia-Pacific is expected to witness highest growth during the forecast period

Remote Sensing Satellites Industry Segmentation Remote Sensing Satellite Industry Segmentation

10-100kg, 100-500kg, 500-1000kg, Below 10 Kg, above 1000kg are covered as segments by Satellite Mass. GEO, LEO, MEO are covered as segments by Orbit Class. Propulsion Hardware and Propellant, Satellite Bus & Subsystems, Solar Array & Power Hardware, Structures, Harness & Mechanisms are covered as segments by Satellite Subsystem. Commercial, Military & Government are covered as segments by End User. Asia-Pacific, Europe, North America are covered as segments by Region.

• Various remote sensing satellites orbit the Earth at varying distances depending on their design and primary purpose. These satellites are launched or placed into different orbits according to their purposes/applications. Each satellite deployed into orbit has its own benefits and challenges, which include increased coverage and decreased energy efficiency.
• Around 90% of the remote sensing satellites launched between 2017 and 2022* were placed in low Earth orbit for Earth observation and science, among other applications. This is because of the close proximity of this orbit to the Earth, which helps send spatial high-resolution images without any latency. Therefore, with the increased benefits of this orbit, the demand for these satellites to be deployed in the LEO orbit is expected to rise during the forecast period. Similarly, during 2017-2022, of the 56 satellites launched in the MEO orbit, 46 were built for Navigation/Global Positioning purposes. Of the 147 satellites in the GEO orbit, 105 satellites have been deployed for communication applications.
• The increasing use of remote sensing satellites for purposes such as electronic intelligence, Earth science/meteorology, laser imaging, optical imaging, and meteorology is expected to drive the demand for the remote sensing satellites market during the forecast period.