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.