AEROSPACE AND DEFENSE TELEMETRY MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)


Aerospace And Defense Telemetry Market Analysis:

The aerospace and defense telemetry market has been valued at USD 3.05 billion in 2023 and is anticipated to reach USD 4.24 billion by 2028, exhibiting a compound annual growth rate (CAGR) of 6.79% during the forecast period.

The COVID-19 pandemic has had a profound impact on the aerospace and defense (A&D) manufacturing industry, unlike any other. However, the defense sector has remained stable and grown due to the fact that most countries have not reduced their defense budgets and have remained committed to maintaining their military power. The market is expanding as more funds are being allocated to defense spending worldwide, and advanced radar systems for military communications are being purchased. According to the Stockholm International Peace Research Institute (SIPRI), global defense spending reached USD 2,240 billion in 2022, despite the pandemic.

The demand for telemetry is expected to increase during the forecast period due to the growing use of telemetry in military applications, such as intercepted telemetry in guided missiles, land systems, armored vehicles, aircraft, marine ships, and UAVs. Furthermore, factors such as an increase in defense spending due to various security threats imposed both externally and internally, rising terrorist threats, several border security issues, and volatile relations among nations are expected to support market growth. Nations are also investing in telemetry analysis data software and telemetry products. Additionally, rising geopolitical tensions and research and development (R&D) in A&D telemetry are expected to provide market leaders in telemetry products with significant growth opportunities.

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