Global Aerospace And Defense Telemetry market analysis 2024, Forecast To 2033
23 Jan, 2024
The aerospace and defense telemetry market has displayed robust growth, increasing from $7.52 billion in 2023 to $8.17 billion in 2024, demonstrating a compound annual growth rate (CAGR) of 8.6%. Historical growth is attributed to geopolitical tensions, military modernization, rise in budget allocations, aircraft fleet expansion, and an increase in space exploration. Looking ahead to 2028, the market is expected to maintain strong growth, reaching $11.12 billion at a CAGR of 8.0%. Drivers include global security threats, aerospace and defense telemetry, increasing demand for military UAVs, and rising research and development activities. Major trends encompass satellite-based telemetry, AI and data analytics integration, miniaturization of telemetry devices, integration of Internet of Things (IoT) technologies, and telemetry in hypersonic systems.
Global Aerospace And Defense Telemetry Market Key Driver
The aerospace and defense telemetry market is expanding, driven by the increasing defense budgets of countries. A 2.6% rise in world military expenditure in 2020, reaching USD 1,981 billion, indicates the significant contribution of defense budgets. This financial commitment is expected to lead to increased purchasing and upgrading of aerospace and defense telemetry, aligning with market size values for 2023, 2024, and 2028.
Get A Free Sample Of The Global Aerospace And Defense Telemetry Market ReportGlobal Aerospace And Defense Telemetry Market Segments
The global aerospace and defense telemetry market covered in this report is segmented –
1) By Type: Radio, Satellite
2) By Equipment: Data Acquisition Unit, Telemetry Transmitters, Flight Terminator Receivers
3) By Component: Control device, Display, Recorder, Sensors, Transmitter
4) By Application: Aircraft, Spacecraft, Unmanned Aerial Vehicle (UAVs), Others Applications
By Geography: The regions covered in the Aerospace And Defense Telemetry market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
North America was the largest region in the aerospace and defense telemetry market in 2023. Middle East and Africa are expected to be the fastest-growing regions in the aerospace and defense telemetry market share during the forecast period. The regions covered in the aerospace and defense telemetry market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Major Aerospace And Defense Telemetry Industry Players
BAE Systems, Lockheed Martin Corporation, L3 Technologies, Safran Spa, Cobham Limited, Honeywell Corporation, Thales Group, Orbit Communications Systems Ltd., Dassault Aviation SA, Curtiss-Wright Corporation, RTX Corporation, AstroNova Inc., Leonardo Corporation, General Dynamics Corp, Northrop Grumman Corporation, Maxar Technologies Inc., Teledyne Technologies Incorporated, Moog Inc., Ultra Electronics Holdings plc, Kongsberg Gruppen, Kratos Defense & Security Solutions Inc., Mercury Systems Inc., QinetiQ Group plc, RADA Electronic Industries Ltd., Sierra Nevada Corporation, Textron Systems Corporation, Transdigm Group Incorporated, ViaSat Inc., Z Microsystems Inc., DRS Technologies Inc., Esterline Technologies Corporation
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Aerospace And Defense Telemetry Market Overview
Aerospace and defense telemetry refers to the collection of statistical data from remote locations and sending it to receiving equipment for monitoring, recording, and analysis. The aerospace and defense telemetry are used in complex systems such as missiles, RPVs, spacecraft, oil rigs, and chemical plants. This helps in automatic monitoring, alerting, and record-keeping necessary for efficient and safe operation.
Aerospace And Defense Telemetry Global Market Report 2023 provides data on the global aerospace and defense telemetry market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The aerospace and defense telemetry market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.