New York, USA, June 08, 2022 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global airborne sensors market is projected to generate $14,473.7 million in revenue and rise at a CAGR of 5.3% throughout the estimated timeframe from 2022 to 2030.
As per our analysts, with the rapidly increasing demand for airborne sensors in the defense sector, the airborne sensors market is expected to observe remarkable growth over the analysis timeframe. Besides, the increasing terrorism across nations and the growing need for detecting adversarial threats in complex operational environments are the factors expected to uplift the growth of the market during the forecast period. Moreover, the growing presence of airborne sensors in the commercial sectors including power supply, mining, agriculture, construction, and many more, is expected to bolster the growth of the airborne sensors market over the estimated period. However, the high cost involved with the deployment of airborne sensors may hinder the growth of the market throughout the analysis period.
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Segments of the Airborne Sensors Market
The report has divided the market into segments based on type, application, and region.
Type: Non-Scanning Sub-Segment to be Most Lucrative
The non-scanning airborne sensors sub-segment is predicted to generate a revenue of $8,845.9 million during the forecast period. This is mainly due to the increasing use of non-scanning airborne sensors for an increased number of air passengers in emerging economies. Furthermore, the growing technological advancements and availability of several classes of airborne sensors, such as seaplanes, kites, and gliders, are expected to boost the growth of the sub-segment over the analysis timeframe.
Application: Defense Aircraft Sub-Segment to be Most Profitable
The defense aircraft sub-segment is expected to garner a revenue of $6,672.0 million over the estimated period. This is mainly because of the emerging key players in the aviation industry and making new strategies to manufacture airborne sensors for defense use. Moreover, the increasing budget for the defense and military sector by the governments of many nations is expected to fuel the growth of the market’s sub-segment during the analysis timeframe.
Region: Europe Region Expected to Have the Largest Share of the Market
The Europe region of the airborne sensors market is expected to generate a revenue of $4,110.5 million over the forecast timeframe. This is mainly because of the use of fixed-wing aircraft for air travel in this region. In addition, the increasing technological innovation and strategic collaboration made by the airborne sensors platform providers are expected to drive the regional growth of the market during the analysis period.
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Covid-19 Impact on the Airborne Sensors Market
The outbreak of the Covid-19 pandemic has pulled back the growth of the airborne sensors market as compared to previous years. This is mainly due to the disruption in supply chains and prolonged factory shutdowns during the pandemic period. However, the governments and leading organizations have taken innovative initiatives to combat the economic impact by making new strategies that have inclined the growth of the market during the period of crisis.
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Key Players of the Airborne Sensors Market
The major players in the airborne sensors market include
- Information Systems Laboratories (ISL)
- General Dynamics Corporation
- Raytheon Technologies
- Teledyne Optech
- Lockheed Martin Corporation
- Honeywell International Inc.
- Thales Group
- ITT INC.
- HEXAGON
- AVT Airborne Sensing GmbH and many more.
These players are widely working on the development of new business strategies to acquire a leading position in the global industry. – Inquire Here@ https://www.researchdive.com/purchase-enquiry/8351
For instance, in August 2020, Teledyne Optech, the world leader in the development, manufacture, and support of advanced lidar and imaging-based survey instruments launched an innovative airborne lidar sensor series named “Galaxy CM2000”. This particular product is specifically designed to deliver precise details of corridor elements such as distribution power poles, railway signs electric wires, and conductors. This product is an extended form of the existing Galaxy series of airborne lidar sensors.
Further, the report also presents other important aspects including the latest strategic development, product portfolio, SWOT analysis, and the financial performance of the key players.
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