The remote sensing technology market is poised for significant growth, according to the latest update from The Business Research Company. The market, which was valued at $17.14 billion in 2024, is expected to reach $18.48 billion in 2025, reflecting a compound annual growth rate (CAGR) of 7.8%. This growth trajectory is set to continue, with projections indicating a market size of $29.87 billion by 2029, driven by a CAGR of 12.8%.
The market’s expansion can be attributed to several key factors. The increasing need for earth observation data, the rapid deployment of satellite constellations, and the development of new remote sensing platforms are all contributing to this growth. Additionally, the market is benefiting from greater accessibility for small to mid-size businesses (SMEs), regulatory support, and the establishment of industry standards.
One of the primary drivers of this growth is the increased use of precision farming technology. As the global population grows and climate change impacts food supply chains, precision farming is becoming essential for efficient food production. This technology helps reduce farming costs, boost production levels, and offer environmental benefits. The US Government Accountability Office reported that in 2023, 27% of US farms and ranches utilized precision agriculture techniques, highlighting the technology’s growing importance.
The remote sensing technology market is segmented into several key categories. By technology, it is divided into active and passive remote sensing. Active remote sensing includes radar systems, LiDAR, and sonar systems, while passive remote sensing encompasses optical sensors, infrared sensors, and multispectral and hyperspectral sensors. By platform, the market is segmented into satellite and aerial systems. Applications range from landscape assessment and security to air quality monitoring, hydrology, forestry, floodplain mapping, emergency management, and healthcare. End users include the military and intelligence sectors, weather and disaster management, agriculture and living resources, and infrastructure.
Major companies operating in this market include Thales Group, Environmental Systems Research Institute Inc., General Dynamics Mission Systems Inc., Hexagon AB, Maxar Technologies, and Planet Labs PBC, among others. These companies are focusing on incorporating technologically superior solutions into their devices to fortify their market positions. For instance, in March 2022, China launched a new remote sensing satellite designed for land rights verification, urban planning surveys, disaster mitigation, and crop yield prognostication.
North America was the largest region in the remote sensing technology market in 2024, but other regions such as Asia-Pacific, Western Europe, Eastern Europe, South America, the Middle East, and Africa are also experiencing significant growth. The report covers these regions in detail, providing insights into the fastest-growing areas and the factors driving this growth.
The Business Research Company’s comprehensive analysis provides a detailed look at the market’s size, growth drivers, and key trends. It also highlights the competitive landscape, profiling major companies and their strategies. For those looking to stay ahead in this rapidly evolving market, this report offers valuable insights and forecasts through 2034. To access the full report and gain a deeper understanding of the remote sensing technology market, visit The Business Research Company’s website.
