ID: MRFR/A&D/8674-HCR | 174 Pages | Author: Sejal Akre | June 2023
Military And Aerospace Sensors Market Scenario
Military And Aerospace Sensors Market Size Projected to Reach USD 3.01 Billion By 2030, At A CAGR Of 12.05% By 2020-2030
Sensors are the viral component of many military and aerospace systems. The defense intelligence, surveillance, and reconnaissance systems that are deployed on national borders/in remote areas are connected through wireless networks that provide real-time data that requires several sensors. Moreover, new and advanced aircraft are making use of sensors such as pressure sensors, temperature sensors, speed sensors, accelerometers, level sensors, flow sensors, gyroscopes, and radar sensors for efficient aircraft operation.
Global Military and Aerospace Sensors Market has witnessed high growth in recent years owing to the increasing demand for new aircraft and military land vehicles across the globe. Moreover, the increasing demand for military vessels and ongoing advancements in sensor technology are some factors driving the growth of the market. However, the existing backlog of aircraft deliveries and restricted defense budgets are expected to restrain the market growth to some extent.
High dependency on military and aerospace systems on sensors for efficient operations
Other Prominent Players
|Market Size||USD 3.01 Billion|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Platform, Application and End-Use|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Honeywell International Inc. (US), Ametek, Inc. (US), Thales Group (France), TE Connectivity Ltd (Switzerland), Raytheon Company (US), Lockheed Martin Corporation (US), Safran Electronics & Defense (France), BAE Systems PLC (UK), General Electric Company (US), Ultra-Electronics (UK), UTC Aerospace Systems (US), Meggitt PLC (UK), Kongsberg Gruppen (Norway), Crane Aerospace (US), Eaton Corporation (Ireland), Zodiac Aerospace (Safran), Viooa Imaging Technology (Canada), Rockwest Solutions (US), Microflown Avisa B.V. (Netherlands) and Vectornav Technologies, LLC (US)|
|Key Market Opportunities||Increasing adoption of the internet of things in the aviation industry|
|Key Market Drivers||
Military And Aerospace Sensors Market Size Projected to Reach USD 3.01 Billion By 2030, At A CAGR Of 12.05% By 2020-2030to 2030.
Honeywell International Inc. (US), Ultra-Electronics (UK), Ametek, Inc. (the US), General Electric Company (US), Thales Group (France), BAE Systems PLC (UK), TE Connectivity Ltd (Switzerland), Raytheon Company (US), Lockheed Martin Corporation (US), Safran Electronics & Defense (France), and a few more are the most eminent players of the global military and aerospace sensors market.
The increasing demand for new aircraft across the world is estimated to be one of the most pivotal factors accelerating the Global Military and Aerospace Sensors Market.
The APAC region is estimated to expand at the highest CAGR due to the increasing defense expenditure in countries such as India and China, along with the increasing demand for new aircraft.
Key Questions Answered
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