Aerospace and Defense Telemetry Market Research Report, Size, Share, Trends and Forecast to 2024
Press ReleaseApril 13, 2020
According to the latest report by IMARC Group, titled ""Aerospace and Defense Telemetry Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024"", the global aerospace and defense telemetry market size reached a value of US$ 16.2 Billion in 2018. Telemetry is the automated procedure that is used for the wireless transmission of measurements to a command station from a remote object. It is utilized in the medical, industrial, entertainment, aerospace and defense sectors. Amongst these, in the field of aerospace, telemetry is used in space exploration, flight testing and rocketry for real-time monitoring of environmental conditions in flying objects. The data obtained by a telemetry system is vital for the success of any aeronautical research project. Furthermore, in the defense sector, these solutions are used for recording data during captive carry flights and communicating data from the missile to the data collection ground station through a radio link. Some of the components used in a typical telemetry system include a power supply unit, radar transponder, FM transmitter, antennas, thermal battery, master control unit, flight termination receiver/decoder, signal conditioning unit, and mechanical housing.
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Global Aerospace and Defense Telemetry Market Trends:
Over the past few years, satellite telemetry has gained popularity across the globe as it plays a crucial role in military test missions. Also, the increasing penetration of smart weapons and unmanned aerial vehicles (UAVs) is contributing to the escalating demand for these systems. Besides this, the emergence of Industry 4.0 technologies has led to the development of new cost-effective products and services that help in transforming the existing telemetry systems into smart alternatives with better connectivity and sensors. The advent of these technologies, coupled with the increasing number of space-exploration projects, has prompted industry players to provide effective and high-quality systems for the aerospace sector. For instance, in 2018, the UK-based defense, aerospace and security company, BAE Systems, signed a memorandum of understanding (MoU) to provide two Tracking, Telemetry and Command Processor (TTCP) systems to the UK-based satellite earth receiving station, Goonhilly Earth Station (GES), at Farnborough International Airshow. The TTCP offers uplink and downlink services that will enable the organization to track and communicate with several spacecraft, including future robotic and manned missions to Mars and the Moon. Attributing to these factors, the market is expected to reach a value of US$ 18.5 Billion by 2024, growing at a CAGR of 2.2% during 2019-2024.
Browse full report with detailed TOC and list of figures and tables: https://www.imarcgroup.com/aerospace-defense-telemetry-market
Insights on Market Segmentation:
Breakup by Technology
1. Radio Telemetry
2. Satellite Telemetry
The market has been bifurcated on the basis of the technology, which includes radio and satellite telemetry.
Based on the equipment, the market has been segregated into data acquisition unit, telemetry transmitters, flight termination receivers, and others. Amongst these, the data acquisition unit is the most popular equipment.
Breakup by Application
1. Aircraft
2. Spacecraft
3. UAVs
4. Missiles
5. Guided Weapons
6. Others
On the basis of the application, the market has been categorized as aircraft, spacecraft, UAVs, missiles, guided weapons and others. Amongst these, telemetry systems are mostly used in aircraft.
Breakup by Sector
1. Aerospace
2. Defence
The report has analyzed the market according to the sector, which consists of aerospace and defense. Currently, the aerospace sector represents the largest segment in the industry.
Breakup by Region
1. North America
2. Europea
3. Asia Pacific
4. Middle East and Africa
5. Latin America
On the geographical front, North America represents the biggest market for aerospace and defense telemetry systems, accounting for the majority of the total market share. Other major regions include Europe, Asia Pacific, Middle East and Africa, and Latin America.
Competitive Landscape
The competitive landscape of the market has also been examined, with some of the key players being BAE Systems plc, Lockheed Martin Corporation, L3Harris Technologies, Inc., Safran SA, Cobham plc, Honeywell International Inc, Thales Group, Kongsberg Gruppen ASA, Orbit Communications Systems Ltd., Dassault Aviation SA, Curtiss-Wright Corporation, Leonardo S.p.A., Raytheon Company, and AstroNova, Inc.
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