Infrared and Thermal Imaging Systems Market by Subsector (Military, Commercial), by Application (Thermography, Transportation, Security & Surveillance, Soldier Portable Vision, Military Vehicle Vision, Unmanned Systems), by Technology (Uncooled, Cooled), & by Geography – 2023 to 2028$3,850.00 – $5,850.00Published on:Select options
Commercial aviation is an extremely diversified field covering players in the field of research, design, manufacturing and operating of aircraft. The industry finds use not only in commercial and industrial applications, but also military applications. The aviation industry has expanded at rapid speed which is driven by disruptive technological advancements, amongst other influecning factors. Despite an economic downturn at the global market level, passenger traffic has increased manifold over the course of these years. Further, with the expansion of emerging-market economies, organisations are growing more mindful about efficiency in transportation of goods. Air cargo traffic is therefore expected to grow. Notably, newer aircraft are replacing older fleet, prompting a strong comeback for aviation. The aerospace and defence sectors make for a significant combination. With respect to the defence sector, growing economies like China, India, Brazil and Turkey are allocating larger budgets for expenditures versus countries like USA that have witnessed defence budget cuts, on account of the global financial crisis and protracted war. These tectonic shifts in economies’ outlook towards defence has undoubtedly affected the defence market as well as the defence industry. Nonetheless, there is tremendous scope in sub-sectors such as cyber security, unmanned systems, communication technology, and licensing and technology transfers.
According to our experts at Global Market Studies, it is extremely important for businesses operating in the current environment to equip themselves with the changing times and to meet unexpected demands from newer markets. Whilst the defence sector opens immense opportunities for the application of latest advancement and introduction of innovative products and services, research and development play a pivotal role in the Aerospace Industry analysis. A thorough understanding of the market capability and intelligence is key, which our reports are well-equipped to provide. For further information on our offering in the Aerospace and Defence market analysis, contact us.
According to Boeing’s projections, there exists close to a USD 3.1 trillion projected demand for support and services which is expected to sustain through to 2028, growing at an average annual rate of 3.8 percent. Commercial services are expected to represented over USD 1.6 trillion and include the services to support the growing business and general aviation markets. As per the projections, aircraft operators will replace older jets with more capable and fuel-efficient models, and expand their fleet to accommodate the steady rise in air travel across emerging and established markets. Boeing has also projected USD 2.5 trillion worth of defense and space opportunities during the next decade as governments modernize military platforms and systems, pursue new technologies and capabilities and accelerate exploration activities. The aforementioned investments by the giant players in the industry will fuel the growth of the market significantly.
At Global Market Studies we believe that it is imperative for businesses operating in the current environment to equip themselves with the changing times and to meet unexpected demands and challenges of newer markets. Whilst the defense sector opens immense opportunities for the application of latest advancement and introduction of innovative products and services, research and development play a pivotal role in the aerospace industry.
Global Market Studies’ Aerospace Market Research reports and Defense Research reports present a thorough understanding of market capability. Our reports include coverage of the key subsectors of aviation, defense platforms and systems, marine, communication, navigation and surveillance, airport systems, unmanned systems and space. Our reports include a geographical analysis of North America, Europe, APAC, and the rest of the world (South America, Middle East, and Africa) with a particular emphasis on soaring defense expenditures and increasing research and development in the space of aircraft engines being undertaken by various players in different geographical regions.
Contact us for further information on our offering in the Aerospace and Defense sector.