In May 2022, a leading microsatellite producer, ICEYE, partnered with the European Space Agency (ESA) to assist Copernicus Emergency Services by offering vital flood damage information. The partnership aims to enhance disaster response activities by offering high-resolution flood monitoring using SAR (Synthetic Aperture Radar) technology. ICEYE's microsatellites, capable of taking detailed imagery in any weather conditions, played a pivotal role in ascertaining the depth and extent of recent floods across Europe.
For instance, in the case of large-scale flooding catastrophes in central and southern Europe, ICEYE provided real-time SAR imagery that helped authorities establish the extent of the damage, such as identifying areas that were flooded and infrastructure disruptions. This was essential in planning emergency responses, allocating resources to affected areas, and ensuring timely evacuation efforts. Additionally, the detailed data provided by ICEYE played a crucial role in the development of military operations, for disaster response, as it allowed military forces to assess the situation and deploy personnel and equipment more effectively.
In November 2022, Synspective, a synthetic aperture radar (SAR) satellite data provider, joined forces with Geo Climate Risk Solutions Pvt. Ltd. (GCRS) to provide SAR-based analysis solutions for mining and critical infrastructure industries in India and South Asia. Through this collaboration, the goal is to offer high-end risk analytics to enable enterprises to monitor and reduce the effects of natural disasters on key infrastructure.
For instance, in India's severe monsoon seasons, the cooperation has made it possible to evaluate flood threats on bridges, highways, and mining operations and to obtain real-time ground deformation information and structural health. The cooperation leverages Synspective's SAR satellite imagery to aid industry in the detection of early warning signs of potential damage due to landslides, flooding, and earthquakes. This early and accurate information facilitates forward-looking decision-making, enhances catastrophe readiness, and minimizes the disruption of operations. The coalition is an important move towards enhancing environmental resilience in key sectors in the region.
The international Synthetic Aperture Radar (SAR) market is witnessing substantial growth, inspired by mounting demand in defense, aerospace, and Earth observation applications.
This growth is largely attributed to increased demand for high-resolution images for surveillance, reconnaissance, and disaster response . Progress in SAR technology, including downsizing satellites, enhanced radar equipment, and the increasing adoption of SAR in business uses like agriculture, forestry, and infrastructure observation, all affect market dynamics. In addition, the increasing significance of Earth observation and environmental monitoring and escalating geopolitical tensions are fuelling demand for SAR-based solutions. Strategic partnerships and collaboration among key businesses and governments also boost the market.
Based on report by Coherent Market Insights, the synthetic aperture radar size was valued around USD 4.5 billion in 2022 and is anticipated to reach an estimated USD 8.6 billion by 2032, growing at a healthy compound annual growth rate (CAGR) of 7.2% over the forecast period.
Sources: Company: Iceye.com
