Rising implementation of airborne sensors in defense operations is boosting the global airborne sensor market growth. The COVID-19 pandemic has negatively impacted the market growth. The North America market is expected to lead the market in the near future
NEW YORK, March 10, 2021 /PRNewswire/ -- Research Dive has added a new report to its offering titled, "Airborne Sensor Market by Type (Non-Scanning and Scanning), Application (Defense Aircraft, Commercial Aircraft, and Others), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2020-2027".
The global airborne sensor market is anticipated to reach up to $12,086.9 million by 2027, growing at a CAGR of 4.6% from 2020 to 2027. The report caters detailed insights into the current conditions and future growth of the industry by thoroughly analyzing market drivers and limitations, opportunities, major segments, and regions.
Download Sample Report of Airborne Sensor Market [80 pages] https://www.researchdive.com/download-sample/8351
Key Segment Findings of the Market:
The market is segmented on the basis of product type, application, and region.
- Among product type segment, the non-scanning airborne sensor type sub-segment is estimated to lead the market by gathering a considerable revenue of $7,392.3 million by 2027. The growth of this sub-segment is chiefly due to the rising novel inventions in non-scanning type of airborne sensors.
- Among application segment, the defense sub-segment is expected to hold a major market share by growing at a CAGR of 4.9% during the estimated period. This growth is mostly due to growing adoption of airborne sensors in the aviation industry for defense operations.
- Among region, the North America region market is predicted to perceive widespread growth by gathering a revenue of $3,442.3 million during the projected timeframe. The growth of this region is chiefly due to rising investments by airborne sensor manufacturing companies in this region in the development of innovative airborne sensors.
Increasing terrorist attacks across the world and rising implementation of airborne sensors in the defense operations are the key factor propelling the growth of the global airborne sensor market. In addition, increasing use of airborne sensors in geographical surveys, commercial sectors, construction projects, power supply, mining activities, and agriculture for monitoring the crops, pipeline, and power line mapping is projected to bring in novel opportunities for the market growth during the projected period. However, heavy investments involved in the production and research & development of airborne sensors is expected to hinder the market growth during the forecast period.
Impact of the COVID-19 Pandemic on Airborne Sensor Market:
The COVID-19 pandemic has made a negative impact on the growth of the global airborne sensor market. The market growth has declines mostly owing to COVID-19 lockdown restrictions that have affected the normal functioning as well as supply chains of airborne sensor manufacturing factories. However, even during the crisis period, some of the foremost companies in this market are progressively involved in various activities such as collaborations and partnerships, for sustaining their position in the global industry.
Top 10 Company Players of the Airborne Sensor Industry and their Developments:
- General Dynamics Corporation
- Thales Group
- Information Systems Laboratories (ISL)
- Teledyne Optech
- Raytheon Technologies
- Lockheed Martin Corporation
- ITT INC.
- AVT Airborne Sensing GmbH
- Honeywell International Inc.
Several business strategies, such as acquisitions, mergers, R&D activities, new product developments, and much more, are implemented by these players to obtain a strong position in the global market. For instance, in August 2020, Teledyne Optech, a global leader in advanced lidar sensors, introduced a novel airborne LiDAR sensor, Galaxy CM2000. This new sensor is specially designed for corridor mapping and enables users to easily narrow the field of view to the exact width of their corridor, and thus focus the laser measurements on their exact target.
Moreover, the report offers other key details of these players such as business tactics, financial performance, and product/service range of these players along with Porter's five forces analysis and SWOT analysis. Inquire and Get Quick Access to Top Companies Development Strategies Summary Report [80 pages]
More about Airborne Sensor:
- Novel Sensor Launches & Strategic Agreements to Foster the Growth of the Global Airborne Sensor Market by 2027
- What are the Significant Applications of Airborne Sensors?
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