New York, USA, March 22, 2021 (GLOBE NEWSWIRE) -- A new report on the global airborne sensor market has been added by Research Dive to its repository. As per the report, the market is expected to garner $12,086.9 million by 2027 growing at a CAGR of 4.6% from 2020 to 2027. This report offers detailed insights into the present situation and future scope of the global industry. The report is articulated by expert market analysts and guarantees to be a reliable source of data and thorough market insights for new players, investors, prevailing market players, stakeholders, shareholders, etc.
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Factors Impacting the Market Growth:
Growing implementation of airborne sensors in the defense sector and rising terrorist attacks across numerous regions are the major factor thriving the growth of the global airborne sensor market. Moreover, growing adoption of airborne sensors in construction projects, geographical surveys, commercial sectors, mining activities, power supply, and agriculture for monitoring the crops, pipeline, and power line mapping is expected to unlock lucrative opportunities for the market growth during the forecast period. However, high costs involved in the manufacturing and research & development of airborne sensors is likely to obstruct the market growth.
Check out How COVID-19 impacts the Global Airborne Sensor Market. Click here to Connect with our Analyst to get more Market Insight: https://www.researchdive.com/connect-to-analyst/8351
COVID-19 Pandemic Impact on the Market:
The abrupt rise of the COVID-19 pandemic has hindered the growth of the global airborne sensor industry. The decline in growth of the market is mainly due to COVID-19 lockdown which has made a severe impact on the supply chains and normal functioning of airborne sensor manufacturing factories. However, even in the course of the crisis, some of the leading players are constantly undertaking various activities such as new developments, collaborations, and partnerships, to obtain a leading-edge in the global industry.
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The report segments the global airborne sensor market into product type, application, and region.
Non-Scanning Airborne Sensor Type Sub-Segment to Dominate the Market Growth
Among product type segment, the non-scanning airborne sensor type sub-segment is projected to dominate the market by garnering a significant revenue of $7,392.3 million during the forecast period. The growth of this sub-segment is mainly because of the growing novel developments in non-scanning type of airborne sensors.
Defense Sub-Segment to Lead the Market
Among application segment, the defense sub-segment is expected to dominate the market by registering a CAGR of 4.9% during the forecast period. The growth of this segment is mainly owing to growing use of airborne sensors in the aviation industry for defense purpose.
North America Region Market to Observe Significant Growth
The report analyzes the global airborne sensor market across several regions such as North America, Europe, Asia Pacific, and LAMEA. Among these, the North America region market is expected to witness significant growth by garnering $3,442.3 million during the estimated timeframe. The growth of this region market is mainly owing to the growing investments by market players in this region in the development of advanced airborne sensors.
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Major Players in the Market:
• HEXAGON,
• Thales Group,
• Raytheon Technologies,
• Lockheed Martin Corporation,
• Information Systems Laboratories (ISL),
• Teledyne Optech,
• General Dynamics Corporation,
• Honeywell International Inc.,
• ITT INC.
• AVT Airborne Sensing GmbH
The report also caters numerous industry-top tactics and approaches like top strategic moves & developments, product/service range, business performance, Porter five forces analysis, and SWOT analysis of the foremost players, functioning in the global industry. For instance, in February 2021, Michael Schwartz, the chief engineer of Army PEO IEW&S, stated that the U.S. Army’s Program Executive Office for Intelligence, Electronic Warfare and Sensors (PEO IEW&S) is attempting to offer a completely new generation of technology-based capabilities to help the army achieve Multidomain Operations (MDO). The multidomain sensor system (MDSS) will offer the Army with enhanced airborne sensing capabilities to include manned and unmanned aircrafts as well as other advanced technologies in their defense operations.
The report also provides an overview of the different techniques uses as well as the products, facilities, business performance, and a SWOT analysis. Click Here to Get Absolute Top Companies Development Strategies Summary Report.
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