Press release
Airborne Sensors Market Anticipated Growth Expected to Reach USD 14.5 billion By 2030, Boasting a 5.3% CAGR Over the Forecast Period 2022-2030
Airborne Sensors Market
Increase in international terrorism threats and surge in defense & military budgets to strengthen national security in developing and developed countries drive the growth of the global airborne sensors market. In addition, product development & innovations, technological advancements, and rise in R&D investments present new opportunities in the coming years.
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An airborne sensor is a type of operator that can gather the information from airborne platforms; it can be manned or unmanned. It is mostly used for the missions such as military, public safety, academic and commercial remote sensing purposes. In defense sector, airborne sensors support surveillance, intelligence, and reconnaissance collection operations. Also, it can be used in Combat Search & Rescue (CSAR) and tactical combat operations. Moreover, signal intelligence plays vital role in government and defence authorities. Moreover, combination of signal intelligence and airborne sensor helps in detecting, identifying, locating, and tracking the full-time spectrum awareness and intelligence to national as well as a tactical user.
The airborne sensor industry will be witnessing a massive growth mainly because of the increase in adoption of airborne sensors in the defense sector. Airborne sensors can support surveillance, intelligence, and reconnaissance collection operations in military missions.
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Covid-19 Scenario
Owing to lockdown restrictions and ban on import-export activities during the pandemic, production, R&D activities, and investments were stopped. Moreover, supply chain was disrupted. These factors led to impact on the revenue of the airborne sensors market.
Many countries reduced their budgets for military and defense equipment to shift resources toward tackling the pandemic. Moreover, the economic uncertainty led to reduction in budgets for the defense sector. This, in turn, impacted the airborne sensors market growth negatively.
The global airborne sensors market is segmented on the basis of type, application, and region. By type, the market has been divided into non-scanning and scanning airborne sensors. By application, the analysis has been divided into defense aircraft, commercial aircraft, and others. By region, the market is analysed across North America, Europe, Asia-Pacific, and LAMEA.
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Based on region, North America accounted for the highest market share in terms of revenue in 2021, holding more than one-fourth of the global airborne sensors industry, and is expected to maintain its dominance in terms of revenue by 2030. This is due to rise in public spending on imaging software and integration of smart sensing technologies by leading tech companies such as Ub er and Tesla for development of self-driving cars. However, Asia-Pacific is estimated to register the fastest CAGR of 5.9% during the forecast period, owing to surge in demand for improved technologies in radars, electro-optics/infrared (EO/IR) sensors, and others. In addition, the development of next-generation aircrafts and increase in defense contracts supplement the market growth.
Leading Market Players
Hexagon
Thales Group
Raytheon Technologies
Lockheed Martin Corporation
information systems laboratories
teledyne optech
General Dynamics Corporation
Honeywell International Inc.
ITT Inc.
AVT Airborne Sensing GmbH
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