Massive: SAR Data Market to Hit $4 BILLION by 2024

0

SAR in Space Sector Market is slated to cross USD 4 billion by 2024; according to a new research report by Global Market Insights, Inc. Remote sensing solutions for developing high resolution imagery for applications of earth observation, weather monitoring, biomass measurement, space exploration, and ocean monitoring is expected to provide strong growth opportunity for SAR in space sector market. Moreover, capability of these systems to perform efficiently, even in absence of light and cloudy weather conditions will inadvertently propel the industry growth.

Europe accounted for the largest share in 2017, is expected to cross USD 2 billion by 2024. This can be credited to the high number of projects in Russia, Germany, the UK, and Finland. Moreover, high emphasis of European Space Agency (ESA) on navigation, earth observation, scientific program, technology support, and situational awareness has significantly contributed to the industry growth. According to the ESA budget for 2018, over 52% of the assigned budget capital was dedicated towards these activities, driving the SAR in space sector market growth.

Share.

About Author

Synthetic Aperture Radar (SAR) or SAR Journal is an industry trade journal which tracks the worldwide SAR industry. We offer news, education, and insights to the SAR industry. We are operated, moderated and maintained by members of the SAR community.This profile is run by multiple moderators who all represent the SyntheticApertureRadar.com If you would like to submit news or have questions about a post please email us here: SyntheticApertureRadarmag@gmail.com and someone will get back to you.