Synthetic aperture Radar In Space Sector Market Set To Increase Significantly By 2025

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Synthetic Aperture Radar (SAR) in Space Sector Market

The global 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. Increasing requirement of environment monitoring, public safety, and natural resource exploration is major factor fueling growth of the industry.

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Increasing Demand for Technology in enhancing Situational Awareness is key factor driving growth of the market

Adoption for advanced technologies in space sector is fueling situational awareness, owing to factors such as government initiatives toward disaster management, increasing need for cyber security, public safety, and smart infrastructure management. For instance, in December 2005, Indian government took initiative towards disaster management by enacting the Disaster Management Act, 2005, which envisioned the creation of the National Disaster Management Authority (NDMA). The objective of this act is to build a safe and disaster resilient country by developing a holistic, proactive, multi-disaster oriented and technology driven strategy through a culture of prevention, mitigation, preparedness, and response.

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.

High Development Cost of SAR due to Frequent Customization is the key factor expected to restrain growth of the market

Synthetic Aperture Radar (SAR) systems are very important for the Earth Observation (EO) business. Synthetic aperture radar satellites system are typically more expensive to develop, and despite distinct advantages, the images are more complex, raising processing costs. Conventional synthetic aperture radars can balance tens of thousands of pounds and as large as a school bus. This are additionally responsible for providing significant capabilities for remote sensing, communication and science, but this costs hundreds of millions of dollars per satellite and may require years to build and launch. Owing to this huge investment required to construct, promotion and operation is expected to restraint the growth of the global synthetic aperture radar market during forecast period.

Detailed Segmentation:

• Global Synthetic Aperture Radar In Space Sector Market, By Platform:

  • Space Platform

  • Ground Platform

• Global Synthetic Aperture Radar In Space Sector Market, By Frequency Band:

  • Single-frequency Band

    • X Band

    • C Band

    • S Band

    • L Band

    • UHF/VHF Band

    • K/Ku/Ka Band

    • Others

  • Multi-frequency Band

• Global Synthetic Aperture Radar In Space Sector Market, By Application:

  • Defense

  • Research & Commercial

    • Public Safety

    • Environmental Monitoring

    • Natural Resource Exploration

    • Others

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About Coherent Market Insights: Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various reco