Yahoo Finance Aerospace And Defense Telemetry Global Market Report 2022: Ukraine-Russia War Impact
Major players in the aerospace and defense telemetry market are BAE Systems, Lockheed Martin Corporation, L3 Technologies, Safran Spa, Cobham PLC, Honeywell Corporation, Thales Group, Orbit Communications Systems, Dassault Aviation, Curtiss-Wright Corporation, Raytheon Technologies, AstroNova Inc, Leonardo Corporation, General Dynamics, and Northrop Grumman Corporation.
New York, Dec. 05, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Aerospace And Defense Telemetry Global Market Report 2022: Ukraine-Russia War Impact" - https://www.reportlinker.com/p06364848/?utm_source=GNW
The global aerospace and defense telemetry market is expected to grow from $ 1.26 billion in 2021 to $ 1.39 billion in 2022 at a compound annual growth rate (CAGR) of 10.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The aerospace and defense telemetry market is expected to grow to $ 1.94 billion in 2026 at a CAGR of 8.6%.
The aerospace and defense telemetry market consists of sales of aerospace and defense telemetry by entities (organizations, sole traders, and partnerships) that are used in complex systems such as missiles, RPVs, spacecraft, oil rigs, and chemical plants.Aerospace and defense telemetry refers to the collection of statistical data from remote locations and sending it to receiving equipment for monitoring, recording, and analysis.
This helps with automatic monitoring, alerting, and record-keeping necessary for efficient and safe operation.
The main types of aerospace and defense telemetry markets are radio and satellite.Radio telemetry is used to locate and track and determine location by using radio signals, which are made up of invisible and silent electromagnetic waves.
Radio telemetry is a technique for tracking animal movement and behavior.This method employs radio signal transmission to locate a transmitter attached to the animal of interest.
The various types of equipment include data acquisition units, telemetry transmitters, and flight terminator receivers. The several types of components include control devices, displays, recorders, sensors, and transmitters that are used in aircraft, spacecraft, unmanned aerial vehicles (UAVs), and other applications.
North America was the largest region in the aerospace and defense telemetry market in 2021.Middle East and Africa are expected to be the fastest-growing regions in the forecast period.
The regions covered in the aerospace and defense telemetry market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Increasing the defense budget of countries is significantly contributing to the growth of the aerospace and defense telemetry market going forward.The defense budget refers to the amount spent by governments on upgrading their defense mechanisms.
The increase in defense budgets will increase the purchasing and upgrading of aerospace and defense telemetry, which play a prominent role in the transformation of information in defense. For instance, according to the 2021 Stockholm International Peace Research Institute (SIPRI) report, a Sweden-based non-profit organization that provides data for armament and arms control, in 2020 world military expenditure reached US $ 1,981 billion, which was 2.6% higher when compared to 2019. Therefore, the increasing defense budget is driving the growth of the aerospace and defense markets.
Technological advancements have emerged as a key trend gaining popularity in the aerospace and defense telemetry markets.Major companies operating in the aerospace and defense telemetry sectors are focused on developing new technologies to sustain their position in the market.
For instance, in February 2021, Dynatrace, a US-based technology company, launched v1.0 of the OpenTelemetry specification based on Dynatrace’s distributed tracing technology, which helps in supporting traces and metrics. This helps in ensuring a smooth transition from OpenTracing and OpenCensus.
In August 2021, Delta Information Systems a US-based manufacturer of high-quality aerospace telemetry products for Flight tests, Missile tests, and Range Safety acquired Wideband Systems for an undisclosed amount. With this acquisition, Delta Information Systems expands its business into a world-class leader in ground-based aerospace recorders. the Wideband product lines. Wideband Systems is a US-based designer and manufacturer of sophisticated recording instruments for aerospace, communications, and intelligence.
The countries covered in the aerospace and defense telemetry market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The aerospace and defense telemetry market research report is one of a series of new reports that provides aerospace and defense telemetry market statistics, including aerospace and defense telemetry industry global market size, regional shares, competitors with an aerospace and defense telemetry market share, detailed aerospace and defense telemetry market segments, market trends and opportunities, and any further data you may need to thrive in the aerospace and defense telemetry industry. This aerospace and defense telemetry market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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