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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, Nov. 22, 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 $6.34 billion in 2021 to $6.69 billion in 2022 at a compound annual growth rate (CAGR) of 5.59%. 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 market is expected to grow to $8.37 billion in 2026 at a compound annual growth rate (CAGR) of 5.75%.
The aerospace and defense telemetry market consists of sales of aerospace and defense telemetry solutions 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 in automatic monitoring, alerting, and record-keeping necessary for efficient and safe operation.
The main types of aerospace and defense telemetry market applications are aircraft, spacecraft, UAVs, and other applications.In aircraft aerospace and defense, telemetry is used for testing to track moving objects in flight or to collect data from instruments and sensors on the test object, to track space launch vehicles.
Telemetry is the measurement of data collected from a remote and usually fast-moving device.The various types are radio and satellite.
The various type of equipment is data acquisition units, telemetry transmitters and flight terminator receivers. The various type of components is control device, display, recorder, sensors and transmitter.
North America was the largest region in the aerospace and defense telemetry market in 2021.Middle East and Africa is expected to be the fastest-growing region 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 defense budget of worldwide is expected to significantly contribute to the growth of the aerospace and defense telemetry market going forward.The defense budget refers to the government expenditure on upgrading defense mechanisms.
The increase in defense budgets will increase the purchasing and upgrading of aerospace and defense telemetry. According to the 2021 report published by Stockholm International Peace Research Institute (SIPRI), a Sweden-based non-profit organization that provides data for armament and arms control, in 2020, world military expenditure was USD 1,981 billion, which was 2.6% higher when compared to 2019. Therefore, increasing the defense budget is driving the growth of the aerospace and defense market.
Technological innovations are the key trend gaining popularity in the aerospace and defense telemetry market.Major companies operating in the market are introducing new tools which work on post-system telemetry measurement data analysis to sustain their position in the market.
For instance, in January 2022, Acroamatics, a US-based manufacturer of space and telecommunication systems, launched Acroamatics Display and Analysis Tool (ADAT), a widget-based telemetry system desktop for analysis of post-system measurement data from telemetry.
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 producer of recording devices for the intelligence, communications, and aerospace industries.
The countries covered in the aerospace and defense telemetry market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and 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 scenario of the industry.
Read the full report: https://www.reportlinker.com/p06364848/?utm_source=GNW
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