Military And Aerospace Sensors Market Size Projected to Reach USD 3.01 Billion By 2030, At A CAGR Of 12.05% By 2020-2030. The increasing air passenger traffic, along with the increase in demand for new aircraft, is primarily driving the growth of the market. Furthermore, the ongoing advancements in sensor technology are driving the growth of the market.
Sensors are the viral component of many military and aerospace systems. The defense intelligence, surveillance, and reconnaissance systems that are deployed on national borders/in remote areas are connected through wireless networks that provide real-time data that requires several sensors.
High dependency on Military and Aerospace Sensors Market Insights Systems on sensors for efficient operations
Growth Opportunities in the Market
The Pressure Sensors Segment Accounted for the Largest Market Share in 2019: In 2019, the pressure sensors segment accounted for the largest market share due to the increasing use of pressure sensors for fuel supply control, air pressure control, and water pressure control. The radar sensors segment is expected to register the higher CAGR during the review period. This is due to the increasing use of radar sensors by the military forces for detecting enemy aircraft.
The Land Segment Is Expected to Register the Highest Growth in the Market: The land segment is likely to register the highest CAGR during the review period. The increasing use of military and aerospace sensors in military combat vehicles such as main battle tanks, armored fighting vehicles, amphibious armored vehicles, unmanned vehicles, and light tactical vehicles is driving the segment. The airborne segment accounted for the largest market share in 2019.
The Intelligence & Reconnaissance Segment Accounted for the Largest Market Share in 2019: The intelligence & reconnaissance segment is expected to record the highest CAGR during the forecast period from 2019 to 2026. This is due to the increasing use of military and aerospace systems for intelligence & reconnaissance operations. The combat operations segment is expected to record a steady CAGR during the forecast period.
Some of the key players of Global Military and Aerospace Sensors Market Outlook are Honeywell International Inc. (US), Ametek, Inc. (US), Thales Group (France), TE Connectivity Ltd (Switzerland), Raytheon Company (US), Lockheed Martin Corporation (US), Safran Electronics & Defense (France), BAE Systems PLC (UK), General Electric Company (US), Ultra-Electronics (UK)
Other Prominent Players:
UTC Aerospace Systems (US), Meggitt PLC (UK), Kongsberg Gruppen (Norway), Crane Aerospace (US), Eaton Corporation (Ireland), Zodiac Aerospace (Safran), Viooa Imaging Technology (Canada), Rockwest Solutions (US), Microflown Avisa B.V. (Netherlands), Vectornav Technologies, LLC (US).
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