Aerospace and Defense Telemetry Market worth $2.0 billion by 2027 - Exclusive Report by MarketsandMarkets™
CHICAGO , May 4, 2022 /PRNewswire/ -- According to the new research report, the "Aerospace and Defense Telemetry Market by Platform (Ground, Airborne, Marine, Space, Weapons, UAVs), Technology (Wired and Wireless Telemetry), Component ( Receiver, Transmitter, Antenna, Processors), Application, Region - Forecast to 2027", published by MarketsandMarkets™, the Aerospace and Defense Telemetry Market is estimated to be USD 1.4 billion in 2022 and is projected to reach USD 2.0 billion by 2027, at a CAGR of 6.9% from 2022 to 2027. The market is driven by factors such as customized SATCOM on the move solutions for unmanned ground vehicles, increasing defense budget of countries, etc.
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Players in the Aerospace and Defense Telemetry market such as L3harris Technologies (US), Honeywell International Inc (US), General Dynamics Corporation (US), Lockheed Martin Corporation (US), Maxar Technologies (US) are some of the leading companies in this market. Other key players in the market are Airbus (Netherlands), BAE Systems (UK), and Saran Group (France). The report covers various industry trends and new technological innovations in the Aerospace and Defense Telemetry market for the period, 2018-2027.
Customized SATCOM-on-the-move solutions for unmanned ground vehicles
The basic principle behind SATCOM-on-the-move is equipping a vehicle with telemetry components like antennas to establish communication while in motion. SOTM capabilities allow armed forces to share voice and data communication efficiently and effectively while traveling in tactical ground vehicles at speeds of up to 130 km/h (80 mph). For instance, Russian proxy interference against Ukrainian armed forces conducting anti-terrorist operations includes the jamming of very high frequency (VHF), ultra high frequency (UHF), and globalsystems for mobile communication (GSM) signals and full network suppression in some areas of eastern Ukraine. The targeting of tactical communication networks such as by Russia against Ukraine, has given an alert to multiple armed forces across the world, including the US Department of Defense (DoD), to consider an alternative means of safe and reliable communication in a tactical environment.
Increasing defense budget of countries
In 2020, the global military expenditure was worth USD 1,981 billion, the highest level since 1988 as per SIPRI. This was 2.6% higher in real terms than in 2019 and 9.3% higher than in 2011. This increase was largely due to the fact that most countries in the world experienced severe economic downturns in 2020 due to the COVID-19 pandemic, while military expenditure continued to rise due to growing tension and disputes on several international borders around the world. The increasing defense budget of countries will certainly boost the demand for aerospace & defense telemetry across all domains: ground, airborne, marine, space, weapons, and UAVs.
Ground segment projected to lead the aerospace and defense telemetry market by platform, during the forecast period
Based on platform, the ground segment is projected to grow from USD 485 million in 2022 to USD 616 million by 2027, at a CAGR of 4.9% during the forecast period. The ground platform is further categorized into stations and armored vehicles/land vehicles.
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213 – Tables
52 – Figures
226 – Pages
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North America region accounts for largest market share in aerospace and defense telemetry market
North America led the aerospace and defense telemetry market in 2022, with the US accounting for the largest share of the regional market. The growing demand for aerospace and defense telemetry in the US and Canada for unmanned aerial vehicles and unmanned ground vehicles for different commercial as well as military applications are key factors driving the market in North America.
Major aerospace and defense telemetry market players present in North America include as L3harris Technologies (US), Honeywell International Inc (US), General Dynamics Corporation (US), Lockheed Martin (US), Maxar Technologies (US).
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