BIS Research Study Suggests Exponential Growth for Aerospace Market in the Coming Years

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Feb 23, 2022, 07:00 ET

FREMONT, Calif., Feb. 23, 2022 /PRNewswire/ -- Analysts at BIS Research project the space & aerospace market to have significant growth of CAGR 4.85% during the forecast period 2021-2026. This projection is largely based on the various innovative products that are being developed to enhance the capabilities of industry offerings by competitors.

BIS Research provides aerospace market research reports, highlighting the technological developments occurring across satellites, launch vehicles, and deep space. Space technology market research reports offer actionable insights along with in-depth access for understanding new emerging technology trends, market data forecasts, and other critical insights, to help clients with strategic decision-making.

Here are some of the latest market insights from BIS Research on the emerging technologies in the space and aerospace industry.

Counter-UAS (Anti-Drone) Market Analysis

Counter drone technology also known as counter-UAS, or C-UAS technology is a type of instrument used for locating, identifying, fixing, and neutralizing unmanned aerial vehicles (UAVs) for reducing the chances of threat from drones.

As per BIS Research market reports, the global counter-UAS (anti-drone) market is projected to reach $6.44 billion in 2031. The key reason for such high growth of the counter-drone market is the rising demand to maintain and monitor the growing number of satellite launches.

Currently, there are more than one million registered drones, and this number is getting higher day by day. With a huge drone presence in the air, counter-drone technology can play a great role in easing potential risk with the usage of commercial drones.

FREE sample report of Counter-UAS (Anti-Drone) Market available here

Satellite Position, Navigation, and Timing (PNT) Technology Market Analysis

PNT technology helps satellites in determining the geographical location, navigating the routes, and tracking the accurate time. The PNT technology is derived from a navigation satellite system (GNSS) for smoother satellite communications.

The key function of PNT is to improve the GNSS performance by giving the required information about the integrity, accuracy, continuity, and available signals for the navigation and geo-locations of the applications.

In 2020, the market value of the technology was $961.7 million. The latest study from BIS Research now suggests that the global satellite position, navigation, and timing (PNT) market is set to reach a value of $8.81 billion by 2031.

The key factor driving the growth of the PNT market is the high need for resilient navigating, positioning, and accurate time data for applications used in daily life in the defense and commercial sector.

FREE sample report of satellite position, navigation, and timing (PNT) market available here

Satellite Flat Panel Antenna Market Analysis

In the past, after the satellite's discoveries, the dominant trend was to develop and design bigger satellites. This was mainly because of larger subsystems and making satellites more efficient and capable.

In the last few decades, however, the space industry has become more technologically advanced with manufacturing and launching satellites. Due to such high development of bigger satellites, it has resulted in a better way of global satellite communications.

As per the market reports of BIS Research, the global satellite flat panel antenna market is projected to witness high growth with a CAGR of 16.63% and touch $18.39 billion in 2031.

The key reason driving the global satellite flat panel antenna industry growth is the rising need for connectivity based on satellite services across the world for several applications like navigation and communications.

FREE sample report of global satellite flat panel antenna market available here

Commercial Space Payload Market Analysis

Satellites are made with special communication systems and radio-based devices that cater to several applications like remote sensing, satellite internet, earth observations, and communications.

Commercial space payload is the cargo that is sent to the orbit of Earth using special space vehicles. The commercial space payload has been generated recently by sending a satellite to Earth's orbit, mostly in Geosynchronous Earth orbit (GEO) and Low Earth orbit (LEO).

As per BIS Research market reports, the global commercial space payload market is supposed to touch $56.32 billion by 2031, with a growth rate of 5.51% in 2021-2031.

FREE sample report of global commercial space payload market available here

About BIS Research:

BIS Research is a global B2B market intelligence and advisory firm focusing on deep technology and related emerging trends which can disrupt the market dynamics in the near future. We publish more than 200 market intelligence studies annually that focus on several deep technology verticals.

Our strategic market analysis emphasizes on market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.

BIS Research offers syndicate as well as custom studies and expert consultations to firms, providing them specific and actionable insights on novel technology markets, business models, and competitive landscape.

BIS Healthcare vertical offers intelligence in the healthcare technology market for Medical Devices, Digital Health, Life Sciences, Robotics and Imaging, Information Technology, Precision Medicine, and other emerging healthcare technologies, covering the entire industry spectrum. In the past 5 years, BIS Healthcare has published more than 50 reports under the precision medicine banner. Additionally, BIS Research has been nominating Top 25 Voices in Precision Medicine on its Insight Monk platform for the past two years successfully.

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