Aerospace and Defense Telemetry Market to Grow at 4.7
Aerospace and defense telemetry market is flourishing because of a growing emphasis on airspace modernization programs.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects Global Aerospace and Defense Telemetry Market size to grow at a CAGR of 4.7% during the forecast period between 2022 and 2028. Global aerospace and defense telemetry market is expanding because of the increasing plans for airspace upgradations, soaring demand for high-speed data transmission, and low-cost miniaturized high-rate data transmission. As asymmetric warfare becomes more prominent around the world, the need for data gathering and monitoring by radio or satellite is driving the global aerospace and defense telemetry market. In addition, the increased deployment of telemetry systems in the military arena, such as intercepted telemetry in aircraft, unmanned aerial vehicles (UAVs), and guided missiles, is projected to fuel the market growth. However, delayed approval of product certification and expensive operational cost could limit the growth of overall market.
Global Aerospace and Defense Telemetry Market – Overview
Telemetry systems are used in the aerospace industry to record statistical data from remote locations and transmit weather forecasts and barometric pressure to a ground station via radio. Owing to its technology advancements, telemetry systems are also used in other fields, such as biomedical research, oceanography, mechanical engineering, and rocket-motor testing. Aircraft, spacecraft, UAVs, and other applications are the most common types of aerospace and military telemetry market applications. Technology advancements are the most prevalent trend in the aerospace and defense telemetry markets. The major industry players, to maintain their position in the market, are actively developing innovative solutions that rely on post-system telemetry measurement data analysis. For instance, in January 2022, Acromatics, a United States-based manufacturer of space and telecommunication systems, unveiled the Acromatics Display and Analysis Tool (ADAT), a widget-based telemetry system desktop for analyzing post-system measurement data from telemetry. Therefore, technology advancements in telemetry systems are driving the growth of global aerospace and defense telemetry market.
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Challenge: Scarcity of qualified workforce
Marine, airborne, and space operations all necessitate highly qualified personnel for research and development, patent, and software development. As a result, hiring technical personnel is crucial to advancing business operations and products in the military industry. Countries, such as Morocco, South Africa, Nigeria, Somalia, Kenya, Bangladesh, Nepal, and Bhutan, face a shortage of skilled technical professionals in their military sector. This, in turn, will have an impact on the safety and efficacy of operations by restricting the number of missions that the systems can handle.
Global Aerospace and Defense Telemetry Market – By Technology
Based on the technology, global aerospace and defense telemetry market is divided into Wired Telemetry and Wireless Telemetry. The wired telemetry cables segment is further bifurcated into electric cables and fiber optic cables. Similarly, the wireless telemetry is segmented into short-range radio telemetry and microwave telemetry. The wireless telemetry segment holds a higher market share in the global aerospace and defense telemetry market due to ease of operation and can be used in remote locations.
Impact of COVID-19 on Global Aerospace and Defense Telemetry Market
COVID-19 pandemic had a major influence on the global aerospace and defense telemetry sector, encompassing components and assembly lines. Many countries have curtailed defense sector spending, putting several research programs on hold. The shipment of aerospace and defense telemetry to key countries was also restricted, thus affecting the growth of aerospace and defense telemetry.
Competitive Landscape
Major players operating in Global Aerospace and Defense Telemetry Market include BAE Systems, Lockheed Martin Corporation, L3 Technologies, SAFRAN, Cobham Limited, Thales, KONSBERG, Astronova, Raytheon Technologies Corporation, and Curtiss-Wright Corporation. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Global Aerospace and Defense Telemetry Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Global Aerospace and Defense Telemetry Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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