According to the latest report by IMARC Group, titled “IoT in Aerospace & Defence Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” report by IMARC Group offers a detailed analysis of the industry, including IoT in aerospace and defence market growth, share, size, trends, and business forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the IoT in Aerospace & Defence Market?
The global IoT in aerospace & defence market size reached US$ 48.42 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 63.56 Billion by 2028, exhibiting a growth rate (CAGR) of 4.55% during 2023-2028.
What is IoT in Aerospace and Defence?
The Internet of Things (IoT) in aerospace and defense represents the technological solution used to connect mechanical equipment and objects to the Internet. It contains numerous appliances and services enabling better industry management and utilization of networked smart devices with real-time data cooperation. IoT in aerospace and defense is widely utilized in health administration, repair and supervision, mobility planning, inventory control, analytical tools, and remote monitoring. It also helps increase overall effectiveness and safety and achieve optimum operational efficiency through predictive maintenance, data analytics, and smart surveillance features.
What are the Growth Prospects and Trends in the IoT in Aerospace & Defence Market?
The rising usage of technology in aerospace to track air conditions and the flow of passengers and allow real-time monitoring of aircraft systems is primarily augmenting the IoT in aerospace and defence market. Furthermore, the increasing utilization of this technological solution in defence applications, on account of several benefits, such as high connection, enhanced security, and quick decision-making abilities, is also bolstering the market growth. Apart from this, the escalating demand for combining sensor techniques, actuators, and control systems with existing military infrastructures and the widespread adoption of flying drones and networked cameras to survey the battlefield, map the terrain and enemy positions, and send the details to the command center is positively influencing the global market. Moreover, the growing usage of this technology for emergency calling, activating public warning techniques, mission-critical logistics support, and communication regarding situational awareness and the elevating need for real-time tracking of armed trucks’ speed and braking systems are further catalyzing the market growth. Besides this, the increasing internet penetration and extensive research and development (R&D) activities are expected to drive the IoT in aerospace and defence market in the coming years.
Who are the key Players Operating in the Industry?
- AeroVironment Inc.
- AT&T Inc
- Elbit Systems Ltd
- Freewave Technologies Inc.
- Northrop Grumman Corporation
- SAP SE
- Synopsys Inc.
What is included in Market Segmentation?
The report has segmented the market into the following categories:
Component Insights:
- Hardware
- Software
- Services
Connectivity Technology Insights:
- Cellular
- Wi-Fi
- Satellite Communication
- Radio Frequency
Deployment Mode Insights:
- On-premises
- Cloud-based
Application Insights:
- Fleet Management
- Inventory Management
- Equipment Maintenance
- Security
- Others
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
Who we are:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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