Synthetic aperture radar in space sector market refers to the space and ground-based SARs that function on the principle of transmission and reception of the reflected signals, which interact with the ground and aid in the imaging, tracking, detection, and characterization. SAR finds significant applications over the conventional electro optical (EO) imaging systems, primarily owing to microwaves being able to penetrate through clouds and provide consistent weather data efficiently for 24 hours.
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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.
Single-frequency band segment dominated the market in 2016 and expected to retain its dominance during the forecast period
Among the frequency band segment, single-frequency band accounted for the largest share of 84.73% in the global SAR in space sector market in 2016. This growth is attributed to the growing requirement of the data generated by SARs for various defense, research, and commercial applications, including natural resource exploration and tracking ship movements in areas with bad weather conditions. According to Coherent Market Insights analysis, ongoing marine trade relations between Canada and North of Russia are highly prone to extreme weather conditions and icebergs, which in turn propels demand for technologies ensuring safety of the ships and commodities necessitating the requirement of SARs.
Defense application accounted for largest share in global SAR in space sector market in 2016
Among application segment defense application is expected to witness a CAGR of 11.43% over the forecast period. This growth is attributed to the growing requirement of the data generated by SARs for various defense applications that include surveillance, reconnaissance, and environmental monitoring in areas with bad weather conditions.
Major players operating in the global synthetic aperture radar in space sector market include Airbus SE, Lockheed Martin Corporation, Israel Aerospace Industries, Thales Group, Northrop Grumman Corporation, MDA Information Systems, Raytheon Company, Harris Corporation, and BAE Systems.
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