Aircraft Tires Market Size Aircraft Tires Market size was valued at around USD 2,593.6 million in 2021 and will exhibit a growth rate of over 3.2% CAGR from 2022 to 2028 owing to the increased demand for air travel.
and the growing aircraft production across the world. By 2028, aircraft tires industry size may reach 3,304.7 thousand units at an anticipated CAGR of 2.4% in terms of volume.
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The proliferation of low-cost carriers in emerging economies is estimated to increase the penetration of narrow-body aircraft tires over the coming years. The increased demand for air travel stimulates the demand for MRO services of aircraft tires to ensure safe landings and take-offs. The fluctuating raw material prices and stringent regulatory norms can restrain the aircraft tires market growth.
The increasing air travel demand has raised the average flight hours of aircraft across the world. Aircraft tires are vulnerable to very shorter landing cycles and thus need to be serviced frequently during their entire life cycle. For example, the service life of main landing gear aircraft tires is about 150 to 200 cycles whereas nose tires have a little more life than the main aircraft tires. Wear and tear or other issues associated with tires take place in the lifespan of a tire.
This may be due to various factors, such as tough landing, environment where the tires are utilized, weight of aircraft, speed during landing, condition of runway, etc. The same tire can be retreaded for as many as seven times depending upon the tire’s condition.
Attribute of Report Details
Base Year 2021
Aircraft Tires Market Size in 2021 2,593.6 Million (USD)
Forecast Period 2022 to 2028
Forecast Period 2022 to 2028 CAGR 3.2%
2028 Value Projection 3,215.5 Million (USD)
Historical Data for 2018 to 2021
No. of Pages 275
Tables, Charts & Figures 475
Segments covered Construction, Product, Aircraft, Platform, End-user, Position, Region
Growth Drivers
Increasing air travel demand worldwide
Growing production of narrow-body aircraft
Rising expenditure in MRO activities of airplanes worldwide
Pitfalls & Challenges
Increasing raw material prices
Stringent regulatory norms
The aircraft tires industry is highly consolidated with the presence of a small number of companies around the globe. Aircraft tire manufacturers are focusing on the development of new products & technologies and enhancing their service portfolios to cater to the growing demand for aircraft tires. Enhancement of the product landscape and strategic partnerships are key initiatives in the global market.
Some of the key aircraft tires market manufacturers include
Goodyear
Desser Holdings LLC
Dunlop
Bridgestone
Specialty Tires of America
Aviation Tires & Treads LLC
Michelin
Petlas
Wilkerson Company, Inc
Sentury Tire Co., Ltd
The Aircraft Tires Market report includes in-depth coverage of the industry with estimates & forecast in terms of volume in million thousand units & revenue in USD million from 2022 to 2028 for the following segments
Airport Cabin Baggage Scanner Market Size Airport Cabin Baggage Scanner Market size exceeded USD 2.5 billion in 2021 and is projected to expand at a CAGR of 10% from 2022 to 2028.
The industry growth is owing to the integration of technologies, such as Artificial Intelligence (AI) and Machine Learning (ML), which help in the highly precise & efficient detection of threats.
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Terrorism has shaken the world, prompting governments to take action to protect airports from harm. Countries in North America and Europe have joined forces to establish strict security standards at airports, all in an effort to prevent future tragedies. Airports are now using state-of-the-art baggage scanners to stop dangerous stuff like bombs, guns, and illegal drugs from getting through security. These scanners aim to keep passengers safe on the ground and in the air. Advanced airport baggage scanners are key in the fight against terrorism. They detect dangerous materials that could be used in attacks, keeping airports and planes secure. As governments continue to invest in safety, the market for these scanners is expected to grow even more.
Airport Cabin Baggage Scanner Market Report Attributes
Report Attribute Details
Base Year 2021
Airport Cabin Baggage Scanner Market Size in 2021 2.5 billion (USD)
Forecast Period 2022 to 2028
Forecast Period 2022 to 2028 CAGR 10%
2028 Value Projection 4 billion (USD)
Historical Data for 2018 to 2021
No. of Pages 250
Tables, Charts & Figures 320
Segments covered Component, Scanner Type, Airport Type, and Region
Growth Drivers
High risks associated with terrorist attacks
Stringent regulations associated with security needs in North America and Europe
Airport construction and upgradation in Asia Pacific
Rising investment in airport infrastructure in MEA
Increase in air travel and passenger volume in Latin America
Pitfalls & Challenges
Challenges associated with upgrading existing systems
High initial investment cost & cybersecurity threats
What are the growth opportunities in this market?
The COVID-19 pandemic hit the airport baggage scanner business hard in 2020. Governments had to shut down borders, lock down cities, and restrict travel to stop the virus from spreading. This meant fewer people flying, so there was less demand for baggage scanners. But as the year went on, the industry started to adapt. Airports realized that they needed to invest in ways to make the check-in process safer and more efficient. They turned to digital solutions, like contactless baggage scanners. These scanners use technology to check for dangerous items without people having to touch them. This helped the baggage scanner market to bounce back in 2021. Airports started upgrading their scanners with better technology that could detect more threats. As travel slowly returned to normal, the demand for baggage scanners has grown.
Airport Cabin Baggage Scanner Market Analysis
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The hardware segment in the U.S. airport cabin baggage scanner market will register around 5% growth rate during the forecast timeframe, due to the rising importance of reducing entry & exit processing time at airport security checkpoints. Airport cabin baggage scanner hardware aids in meeting security standards, resulting in major operational benefits such as increased security, elimination of random trace detector searches, simplified passenger experience, and increased staff productivity.
Currently, the federal government along with the airport authorities are developing strategic projects to upgrade the existing airport infrastructure & hardware to offer better services to air passengers and avoid long passenger queues at airports. For instance, in May 2021, Raytheon Intelligence & Space increased the installation of checked baggage screening technologies in all federally regulated airports in the U.S. as a part of the five-year USD 318 million agreement with the Transportation Security Administration (TSA).
Demand for airport cabin baggage scanners with 3D (Computed Tomography) technology in Germany will grow at 7% CAGR through 2028, as they enhance operational efficiency and security management. The aviation industry is witnessing a high adoption of advanced scanning technologies that comply with the European Civil Aviation Conference (ECAC) mandates to ensure the effective detection of prohibited products. Many airports in the Germany such as Munich and Frankfurt airports are focusing on adopting 3D CT based cabin baggage scanners for advanced detection of weapons, explosives, and drugs among others.
The Asia Pacific airport cabin baggage scanner market accounted for 20% of the global revenue share in 2021, attributed to high investments in infrastructure upgrades. Airport administrations are emphasizing on enhancing security standards & facility efficiency by implementing cutting-edge technologies such as automated lanes and biometrics.
For instance, in February 2021, Changi Airport Group of Singapore partnered with Genetec, Inc., a technology provider of operations & business and intelligence solutions, to enhance & upgrade its security system. This encouraged market players to create innovative airport cabin baggage scanner systems that provide comprehensive luggage content assessments in real-time without interrupting the entire checkpoint operation.
The global aviation industry is witnessing a surge in demand for commercial aviation airport cabin baggage scanners due to increasing air travel & passenger volume. For instance, in February 2022, the Dubai International Airport accounted for approximately 29.1 million passengers in 2021, a 12.7% jump from 2020 following lockdown relaxations. These factors have encouraged the aviation industry to deploy advanced airport cabin baggage scanners that provide real-time & advanced analysis of hazardous objects and unidentifiable bags.
Market players design airport cabin baggage scanners that can analyze various pictures per second and detect prohibited items in colored x-ray images, 2D black-and-white x-ray images, and 3D CT scan images. The market will witness significant growth in future as airport cabin baggage scanner manufacturers, such as Smiths Group PLC, Leidos, and Rapiscan Systems, offers advanced explosion detection systems with high resolution imaging & throughput.
Ammunition Market Size Ammunition Market size exceeded USD 29.3 billion in 2021 and is estimated to grow at approximately 4.7% CAGR during the forecast period 2022-2030.
Persistent increase in terror attacks globally and higher defense modernization programs expenditure will fuel the demand for different kinds of ammunition. Based on the latest Global Terrorism Index (GTI), in 2021, the number of attacks had increased by 17% from the previous year. The increase in attacks reflects the necessity for law enforcement and military organizations to keep a strong arsenal for national defense.
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In geographies like Europe and North America with robust defense capacities, modern equipment and infrastructure adoption is on the rise. For example, the 2022 Russia-Ukraine war pushed Germany to initiate a USD 112 million security fund to modernize its military capacity. Equally invested across the world, manufacturing of high-tech weaponry and fighter jets will increase the share of the medium & large caliber ammunition industry.
Government measures to address gun violence and general indignation over domestic assaults would serve as deterrents for the growth of the industry. Some nations in Latin America are attempting to apply stricter gun ownership laws consisting of those countries where civilians are permitted to own guns. Rising crime rates in emerging economies may also affect weapon legislation, hindering the need for ammunition.
Government initiatives to limit gun violence and public anger against domestic attacks can serve as hindrances to the industry growth. Some nations in Latin America are planning to implement strict laws on gun ownership such as countries where civilian gun possession is permissible. Rising crime rates in developing nations may also affect weapon laws, inhibiting ammunition demand.
Ammunition Market Report Attributes
Report Attribute Details
Base Year 2021
Ammunition Market Size in 2021 USD 29,898.7 Million
Forecast Period 2022 to 2030
Forecast Period 2022 to 2030 CAGR 4.7%
2030 Value Projection USD 43,054.4 Million
Historical Data for 2018 to 2021
No. of Pages 130
Tables, Charts & Figures 107
Segments covered Caliber, Application
Growth Drivers
Increased terrorism activities and cross border wars
Increased popularity of sport-shooting and hunting
Military modernization initiatives
Pitfalls & Challenges
Strict governments regulations
What are the growth opportunities in this market?
Ammunition Market Analysis
The worldwide sales of mortar products ammunition market will register over 5% growth during 2030 due to an increasing number of cross-border disputes in the MEA and Europe. The product has numerous advantages for soldiers such as portability, simple maneuverability, and the fact that it can be fired from trenches.
Substantial expenditure to strengthen naval and land defense troops worldwide will impact the production of artillery items. In 2022, the UK government stated that it has raised its naval budget to almost USD 45.9 billion, a significant shift from the previous budget. According to reports, the money will be used to make the navy more lethal, increase fleet availability, and create a more technologically advanced force. The transition is a big potential for artillery and large-caliber ammunition requirements to strengthen sea and air defense systems.
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According to ammunition sales figures, the civil use is forecasted to exceed USD 19 billion by 2030 with heightened expenditures on public security and enhanced use of guns for sporting purposes. Lighter weapons observe high sales in nations like the U.S., Canada, and Brazil, etc. Gun clubs and shooting games are very prevalent in North America. Government institutions provide individuals an opportunity to shoot and hunt on a specific ground keeping public security intact. Significant investment in regional police forces will again boost the demand for small caliber ammunition.
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In regional performance terms, Asia Pacific ammunition market size is anticipated to have growth rate of over 5.5% until 2030. Key industry drivers are increasing defense expenditures in nations like China, India, and Japan. Countries are also trying to enhance military strengths by implementing transformational programs for resolving civil & cross-border tensions. For example, India, Japan & Australia belong to the Quad Group and the U.S. as the fourth member. They are working together to establish their technical skills and enhance their strategic benefits.
Ammunition Market Share
Some of the major manufacturers of ammunition include
BAE Systems
CCI
Global Ordnance
Elbit Systems Ltd.
NAMMO AS
Magtech
Denel
Northrop Grumman Corporation
Nexter Group
Ruag Ammotech
Companies are continuously seeking opportunities for growth and expanding their market reach through R&D efforts, partnerships, key product developments, and merger & acquisition prospects. For instance, in February 2022, RUAG Ammotec introduced lead-free training ammunition for police forces to cut down on pollutants, indicating a potential transformation in small caliber ammunition.
Aviation Asset Management Market Size Aviation Asset Management Market size was over USD 170 billion in 2021 and is anticipated to grow over 5% CAGR from 2022 to 2030.
Increasing requirement of cargo aircrafts for cost-effective freight to drive the industry growth in the forecast period.
The expansion of various asset management services in the aviation industry, fueled by the increasing demand for cargo aircraft to facilitate swift and quick product deliveries, could drive the industry growth during the forecast period. According to a September 2022 press release by International Air Transport Association (IATA), air cargo traffic represents approximately USD 6 trillion worth of goods or 35% of global trade by value annually. Globalization as well as the need for effective freight services is increasing the industry share.
Strict government regulations to serve as a growth hindrance
The governments of various economies have been bringing in strict regulatory regimes related to aircraft quality requirements and restricting CO2 emissions, hindering business growth. Additionally, there are various audit reports indicating agencies for purchasing aircraft on the lease without sufficient reason and without correct cost data, which can serve as hindrance for aviation industry, holding back the aviation asset management market share during the analysis period.
Aviation Asset Management Market Report Attributes
Report Attribute Details
Base Year 2021
Aviation Asset Management Market Size in 2021 170 billion (USD)
Forecast Period 2022 to 2030
Forecast Period 2022 to 2030 CAGR 5%
2030 Value Projection 300 billion (USD)
Historical Data for 2018 to 2021
No. of Pages 250
Tables, Charts & Figures 346
Segments covered Type, Purchase Type, Service, End-Use
Growth Drivers %
Growing numbers of passengers choosing air travel
Growing AIcargo import and export worldwide
Government initiatives to support the operational activities in aviation industry
Trend of acquiring new and modern aircrafts on lease
Technological upgradation to keep pace with growing database of the passengers
Airline operators increasingly look for leasing services to minimize cost of ownership
Pitfalls & Challenges
Stringent government policies such as taxation, emission standards, etc
Global fuel prices volatility
Redesigning of aircrafts based on COVID norms
Geopolitical disputes affecting trade
What are the opportunities for growth in this market?
Aviation Asset Management Market Analysis
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On the basis of type, the narrow body aircraft segment is expected to account for over 6% CAGR through the forecast period and achieve a significant valuation by 2030. The growth in the segment will be driven by the rising air traffic and growing domestic air transport business in developing economies. Growth in demand for Low-Cost Carrier (LCC), lower air travel cost, and brisk growth in the development of business and medical tourism will drive narrow body aircraft use of aviation asset management solutions over the next couple of years.
Based on purchase type, the finance lease segment is poised to grow in excess of 5% CAGR during the forecast period. Finance lease acquisitions allow airlines to operate newer aircraft with superior specifications than they could afford to purchase outright without any significant initial investment. Leasing organizations have been making attempts to bring flexible payment arrangements adapted to align with the cash flows of the business. This coupled with increasing commercial aircraft industry demand for Asset-Backed Securitization (ABS) will drive the aviation asset management market outlook.
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In terms of services, leasing service segment is expected to record tremendous growth and exceed USD 140 billion by 2030. Leasing services provide a range of advantages, including capacity flexibility, financial liquidity, quick expansion, lower maintenance costs, and fleet consistency. The continuous development in urban mobility solutions and aircraft infrastructure will drive the demand for aviation asset management in the future. In the meantime, decreasing leasing rates and continuously rising fuel prices will benefit the leasing service segment share.
“The airline sector is going to expand by over 5% annually until 2030. This is due to the fact that more and more individuals are taking to the skies, and airlines require more aircraft. Indeed, the International Air Transport Association (IATA) reports that the number of individuals flying will rise by 60% this year alone. To meet demand, airlines globally are purchasing more aircraft. They’re also leasing aircraft, which allows them to acquire new planes without having to purchase them outright. This is good news for the aviation asset management market, which assists airlines in managing their aircraft and other assets. As the airline sector expands, so too will demand for asset management services.”
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Asia Pacific aviation asset management market held more than 50% revenue share in 2021 and is expected to increase significantly over the forecast period. The increasing investments by public-private companies and government to enhance the current airport infrastructure are responsible for the growth. The increased focus on the implementation of zero-emission technologies in the entire aviation industry with the support of the government will have a positive impact on the regional market trends.
Aerial Imaging Market Size Aerial Imaging Market size exceeded USD 3 billion in 2022 and is expected to register 22% CAGR from 2023 to 2032.
Aerial imaging technology has made pivotal uses in defense and the military. Aerial imaging platforms like Unmanned Aerial Vehicles (UAVs) and camera systems onboard aircraft provide top-level aerial monitoring that makes significant military functions possible, including mission simulation, air-defense planning, and mission planning. Innovation in drone technology and communication has helped various armed forces around the world to keep watch over ground movements across borders and high-risk areas without necessarily having to deploy soldiers.
One of the primary hindrances to the growth of the aerial imaging industry is stringent regulation over the use of UAV platforms. Aviation authorities in most countries have close control over the utilization of drones through policies for such operators and manufacturers. For example, in the U.S., if a person has to utilize a drone for commercial use, then they are required to obtain a certificate from the FAA. There are also a series of commercial flying regulations that must be adhered to. Such rules may impact industry growth.
Aerial Imaging Market Report Attributes
Report Attribute Details
Base Year 2022
Aerial Imaging Market Size in 2022 USD 3 billion
Forecast Period 2023 to 2032
Forecast Period 2023 to 2032 CAGR 22%
2032 Value Projection USD 28 billion
Historical Data for 2018 to 2022
No. of Pages 300
Tables, Charts & Figures 344
Segments covered Platform, Imaging, Application, End-use
Growth Drivers
Escalating usage of aerial imaging in defense applications
Escalating cases of natural disasters
Continued innovation in aerial camera systems
Venture capital investment in aerial camera technology
Pitfalls & Challenges
Privacy and security issues
Restrictive aviation regulatory policies
What are the opportunities in this market to grow?
Aerial Imaging Market Analysis
The revenue from the fixed-wing aircraft segment of the industry was worth more than USD 400 million in 2022. Increasing the requirement to increase the fleet of the air force would drive the demand for these aircrafts. For decades, fixed-wing manned aircraft are utilized for aerial imaging applications across diverse air force application fields, including research purposes, surveillance & monitoring, geospatial mapping and conservation. The pictures taken by these planes have diverse application in defense, military and several other industries.
Oblique aerial imaging market is likely to see close to 25% growth from 2023 to 2032. Oblique imaging is more favorable compared to vertical imaging technology in terms of enhanced subject view. The technology is rapidly gaining popularity in a variety of civil and mapping applications due to the arrival of airborne digital multi-camera systems. It becomes easy for non-professional users to relate to the captured subjects as well, thus promoting its widespread use.
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Urban planning segment aerial imaging industry share is forecast to surpass USD 5 billion in 2032. Urban planning sector growth is being fostered by government initiatives that provide support for the development of smart cities and growing digitization in various industries. UAVs are expected to become increasingly involved in smart city infrastructure for civil control security, management of traffic and populations, control of agriculture and the environment, and coordination across disparate heterogeneous systems.
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Asia Pacific aerial imaging market is expected to witness 25% growth rate up to 2032. The use of drones in construction, agriculture, government, disaster management and defense is a key driver of the regional growth. Developments in sectors such as agriculture, crisis management and defense are driving the extensive use of drone technology.
Some of the leading companies in aerial imaging business landscape include
Cyberhawk Innovations
Aeroptic LLC.
Cooper Aerial Survey
Digital Aerial Solutions
DroneDeploy
AgEagle Aerial Systems Inc.
Eagle View Technologies
Fugro NV
Wingtra
Getmapping Plc
Google (Alphabet)
Kucera International
Airobotics
Landiscor
Hoverfly technologies
NearMap Ltd
Precision Hawk
AeroVironment Inc.
DJI Technology Co., Ltd.
Sanborn Map Company, Inc.
These players are placing a strong emphasis on integrating cutting-edge capabilities into their imaging platforms through high-end analytics and image processing technologies.
Rocket Propulsion Market Size Rocket Propulsion Market size crossed USD 5 billion in 2022 and is expected to demonstrate more than 7% CAGR during 2023-2032, driven by the increasing investment in rocket launches and space research missions.
As human space exploration has been advancing rapidly to provide scientific findings, government investments in space missions have increased across the globe. Referring to an example, during FY2022, the Indian Government allocated USD 1.9 billion for funding the ISRO (Indian Space Research Organization) to introduce innovative solutions into the space industry. A number of spacecraft engineering companies have also been aiming to increase the pace of orbital launches. As a result, the development of satellite launch vehicles is likely to gain momentum and in turn, boost the requirement for advanced rocket propulsion systems.
Rocket Propulsion Market Report Attributes
Report Attribute Details
Base Year 2022
Rocket Propulsion Market Size in 2022 USD 5 billion
Forecast Period 2023 to 2032
Forecast Period 2023 to 2032 CAGR 7%
2032 Value Projection USD 10 billion
Historical Data for 2023 to 2032
No. of Pages 223
Tables, Charts & Figures 208
Segments covered Type, Fuel, Orbit, Vehicle, End-Use, and Region
Growth Drivers
Skyrocketing investments in the space industry and rising global launch activities
Growing attempts at establishing sophisticated manufacturing capabilities
Growth in efforts to lower carbon emissions
Spiraling tech developments to maximize product efficiency
Emergence of retrievable rocket propulsion systems
Pitfalls & Challenges
High initial capital outlays
Growing political rebellions
Rising initial outlay and expense of rocket launching services as a result of inflation are some of the major deterrents to rocket propulsion industry dynamics to some degree. According to NASA statistics, the average launch cost of a spacecraft is USD 450 million. With the long-term ROI time frame, only space organizations and government agencies have been investing in the space sector, thus restricting product demand. In spite of these limitations, the focus on the use of green propulsion fuels will generate profitable growth prospects.
Rocket Propulsion Market Analysis
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Rocket propulsion market share of the rocket motor segment is expected to project a 5% CAGR during 2032 due to growth in R&D efforts for effective hybrid motors. For instance, the ISRO in September 2022 successfully conducted a test on a hybrid motor employing solid fuel and liquid oxidizer. This stackable and scalable test was planned to lead to new propulsion systems for future launch vehicles. Besides, milestone milestones in key regions like Europe, linked to a rocket motor development for application within two launch vehicles, will further rocket propulsion manufacturing in the foreseeable future.
Rocket propulsion market size of hybrid fuel segment is likely to surpass USD 450 million by 2032, owing to the reduced greenhouse gas emissions in the engine exhaust using hybrid fuels. Employment of propellants like high-density polyethylene and nitrous oxide can also guarantee very low production energy demands, thus rendering low carbon footprints for engines. The rapid growth in the demand for environment-friendly and secure rocket engine systems will thus increase the utilization of hybrid fuel-powered engines.
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Rocket propulsion market share from the low earth orbit (LEO) segment will account for more than 7% CAGR during the period 2032, as a result of the strong demand for earth observation imagery and analysis. In addition, in June 2022, the European Space Agency and Astroscale partnered to build the first prototype of a commercial servicer designed to capture a number of decommissioned satellites in low earth orbit. Such considerations, as well as increasing space network evolution and laser communication in space optics, will drive the demand for rocket propulsion engines in LEO missions.
Depending on the vehicle, the industry value of unmanned segment is expected to exceed USD 10 billion by 2032, taking into account the widespread use of autonomous vehicles in civilian and military purposes. Reconnaissance and combat, electronic jamming, and communication are some of the major military uses of unmanned autonomous launch vehicles, boosting the demand for effective propulsion systems. Heavy investment in the development of rockets and the escalation of small satellite deployment for defense and commercial programs will also encourage the application of propulsion systems for unmanned launch vehicles.
With regards to the end-use, rocket propulsion market value from the commercial segment was more than USD 2 billion in 2022. The rise in demand for quick internet service and immediate data transmission for the military’s communications is one of the key drivers of growth. Telecom operators worldwide have also been establishing strategic partnerships to introduce satellite-based broadband services, particularly in the emerging world. These efforts will spread the demand for commercial satellite launch services and further accelerate the evolution of innovative rocket propulsion technologies.
On a country basis, the U.S. dominated the rocket propulsion market with over 35% share in 2022 due to the growing launch of heavy rockets by the U.S. Space Force. The region has also seen a growing need for space missions and services to the International Space Station for satellites, astronauts, and other payloads. These reasons, coupled with increasing investment in space exploration, travel, and testing probe missions will provide further momentum to the regional industry growth in the coming years.
Aerospace Titanium Market Size Aerospace Titanium Market size was worth USD 1 billion in 2022 and is expected to record more than 5% CAGR from 2023 to 2032.
This is due to the ongoing air travel recovery and the increasing commercial aircraft building projects.
Air travel continues to record an increase in spite of the supply chain volatility caused by the combined effect of the Russia-Ukraine war, energy supply issues, and limited labor resources. According to data from the International Civil Aviation Organization, between January and August 2022, air passengers increased by about 55%, compared to the same period in the previous year. These international trends are compelling aerospace companies to lengthen their commercial airplane ranges to support the growing demand for travel.
Aerospace Titanium Market Report Attributes
Report Attribute Details
Base Year 2022
Aerospace Titanium Market Size in 2022 USD 1.5 Billion
Forecast Period 2023 to 2032
Forecast Period 2023 to 2032 CAGR 5.3%
2032 Value Projection USD 2.5 Billion
Historical Data for 2018 to 2022
No. of Pages 355
Tables, Charts & Figures 509
Segments covered Form, Manufacturing Method, Grade, End-User, and Region
Growth Drivers
Growing use of titanium material in aerospace application across the globe
Rising production of commercial aircraft
Emerging space industry to drive the global market demand
Pitfalls & Challenges
Negative effect of the coronavirus pandemic on the aircraft sector
Availability of product substitutes within the industry
For example, in October 2022, Airbus intended to deliver over one plane a week to the Indian market, irrespective of engine supply chain disruptions and the associated effect on airline capacity growth in India. These kinds of activities will develop profitable growth channels for aerospace composite manufacturers like titanium matrix composites, thus having an impact on market outlook. The presence of cheap alternatives like HSCR steel could, however, pose impediments to the growth of aerospace titanium markets.
Aerospace Titanium Market Analysis
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The sheet form segment is expected to outline gains at close to 5.5% by 2032. Such positive product properties as light in weight, high strength, biocompatibility, corrosion resistance, and high-temperature properties are some of the major drivers stimulating industry growth. Moreover, metal production companies such as Nippon Steel Corporation are producing commercially pure titanium sheets for aviation uses. These sheets possess superior cold formability as compared to other sheets, hence leading to their higher application in aircraft production.
Aerospace titanium market worth from additive manufacturing process will exceed USD 250 million by 2032. Hybrid additive manufacturing metal machines are perfectly suited for the aerospace industry, given the need for light aircraft components with intricate geometries. Additive manufacturing technology has picked up tremendous pace in recent years as a viable substitute for conventional printers, due to the capability of producing stronger and lighter components. There are no additional expenses for the increase in complexity required to enhance rocket performance when it comes to 3D printing, so it is the production process of choice to handle the surging aerospace titanium requirements.
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The 6AL-4V grade segment will exhibit a 5% CAGR between 2023 and 2032. High-temperature strength, ductility, fracture toughness, weldability, heat treatability, machinability, and other key properties will amplify the sales of 6AL-4V grade titanium. Fund generation for next-generation aircraft development has also increased. The U.S. Congress proposed funding worth USD 7 billion to enable the U.S. DOE to buy new aircraft in 2023 under the USD 1.7 trillion appropriations bill. The demand for turbine engines and airframes for fighter jets will thus increase, further driving 6AL-4V grade titanium consumption.
Revenue from the commercial aircraft end-user segment of the aerospace titanium market exceeds USD 1.5 billion by 2032, owing to the growth in tourism. According to statistics from the Saudi Central Bank, in 2021, total tourism expenditure, both foreigners and residents, recorded a 52% growth compared to 2020 in Saudi Arabia. The increase in tourism expenditure is expected to increase travel passenger traffic and prompt commercial aircraft manufacturers to expand their fleets. These will, in turn, drive the consumption of aerospace titanium alloy in the manufacture of landing gear and other aircraft parts.
Asia Pacific aerospace titanium market will grow to USD 400 million by 2032, thanks to the expanding population and regional air travel bounce back. Based on the International Air Transport Association, in November 2021, air traffic increased by 41.3% against the levels of 2021, with the APAC region observing the best Y-o-Y figures. In addition, the expanding disposable incomes as well as increasing investment in space technologies will propel the regional market outlook.
Directed Energy Weapons Market Size Directed Energy Weapons Market size was worth 4.5 billion in 2022 and is estimated to achieve more than 15% CAGR from 2023 to 2032.
The acceleration of military expenditures by developed nations and emerging markets as a response to increasing geopolitical tensions is further fueling the procurement of new air, ground, and maritime platforms. The adoption of innovative weapon systems such as directed energy weapons on military vehicles by the military is powering market growth.
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The increasing dangers emanating from rockets, missiles, unmanned aerial systems (UAS), and other weapons are fast-tracking the market growth of directed energy weapons. Today, it is a top priority for almost all nations to incorporate counter-UAS laser-based systems within their military forces that can then be expanded to entire air defense systems.
Directed Energy Weapons Market Report Attributes
Report Attribute Details
Base Year 2022
Directed Energy Weapons Market Size in 2022 USD 4.5 Billion
Forecast Period 2023 to 2032
Forecast Period 2023 to 2032 CAGR 15%
2032 Value Projection USD 15 Billion
Historical Data for 2017 to 2021
No. of Pages 271
Tables, Charts & Figures 316
Segments covered Type, Technology, Application, End-Use
Growth Drivers
Technological developments like enhanced power generation and beam control
Growing investments in military modernization plans
Emerging menace of Unmanned Aerial Vehicles (UAVs) and drones
Cost-effectiveness related with directed energy weapons
Pitfalls & Challenges
Growing technical challenges like power constraints, beam divergence
Regulatory and legal obstacles based on conformity to international agreements
What are the opportunities for growth in this market?
Directed energy is any technology producing a focused beam of electromagnetic radiation like microwaves, radio waves, and lasers. Directed energy technology is used in weapons for the purpose of disabling, damaging, or destroying enemy equipment, facilities, and personnel. High-energy laser weapons, high-power radiofrequency, or microwave devices, and charged or neutral particle beam weapons are the typical variants. These weapons possess many benefits over traditional munitions like the high-speed delivery of lethal energy, negligible effects of gravity or atmospheric drag, and stealth-like operation with noise-free & invisible beams. Therefore, directed energy weapons are installed in military ships, land vehicles, aircraft, and Unmanned Vehicles (UMVs).
Directed energy weapons technology is in its nascent phase, and many hurdles must be cleared before such weapons can be deployed on a large scale. These include requirements for more efficient lasers, efficient power sources, and better beam control systems. The deployment of directed energy weapons is regulated by various laws. These laws are different across different nations, which poses problems for the deployment of directed energy weapons in some locations.
COVID-19 Impact
The COVID-19 pandemic had little impact on the directed energy weapons market since the global defense sector continued to function. The absence of employees resulted in a reduction in the rate of technology & product development, hindering the growth of the global directed energy weapons industry.
Directed Energy Weapons Business Trends
The increasing adoption of directed energy weapons for the defense of civilians against a range of Chemical, Biological, Radiological, and Nuclear (CBRN) crises is driving market expansion. The development of different military-oriented UAVs & drones with directed energy weapons for precise long-range targeting and remote warfare is driving the global market. The entry of sophisticated solutions like High-Energy Laser (HEL) power to counter cruise missiles will drive the worldwide market for directed energy weapons. Even though the market for directed energy weapons is in its infancy, the technology is developing rapidly. As directed energy weapons continue to become more sophisticated & cost-effective, militaries & law enforcement agencies across the globe are projected to widely use them.
Directed Energy Weapons Market Analysis
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According to type, the deadly segment accounted for about 55% of the market share in 2022 and is projected to expand at a profitable rate through 2032. The growth of the segment has been driven by increasing demand for deadly & precise weapons. Due to increased need for precision technology in deadly weapons by all kinds of military forces globally, the market for directed energy weapons is experiencing explosive growth. Shotguns with automation, e-bombs, gun-launched guided projectiles, microwave guns, navy laser cannons, plasma cannons (electrothermal accelerator), plasma grenades, and rail guns are some of the deadly directed energy weapons.
On the basis of application, the defense segment generated USD 2.5 billion in 2022. The increasing expenditure on defense by nations such as China, India, Brazil, and South Korea will boost the sector revenue. Yet, the homeland security segment is expected to grow at the highest rate. The increasing political tensions, domestic riots, and demand for non-lethal weapons are some factors that are supporting the homeland security sector.
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Land-based directed energy weapons (DEWs) were the market leaders in 2022, taking a massive 35%. And here’s the surprise: this trend is set to continue, with analysts forecasting a 15% boost in popularity by 2032. Why the overnight success of land-based DEWs? Well, systems such as the Active Denial System, Iron Beam, and the WB-1 Microwave DEW have been game-changers. They’ve opened everyone’s eyes to the fact that these systems are much more capable than ordinary weapons in destroying ballistic missiles, drones, and mortars. And don’t forget the upsurge of high-end laser weapon programs globally. This only boosts the demand for land-based DEWs, making them the preferred defense weapon against new threats.
North America held around 10% of the directed energy weapons market share in 2022. The region is leading the market as of now because of the heavy investments made by the U.S. Department of Defense (DoD) in incorporating directed energy weapon technology into the army, navy, and air force. The government has contracted different directed energy producers like Raytheon Technologies Corporation, Lockheed Martin Corporation, and Boeing over the past few years to develop & deploy directed energy weapons. The increase in funding by diverting funds into state-owned enterprises has accelerated directed energy mechanism development.
Some major players operating in the directed energy weapons market are Applied Companies,
BAE Systems Plc
L3harris Technologies Inc.
Lockheed Martin Corporation
Moog Inc.
Northrop Grumman Corporation
Qinetiq Group PLC
Raytheon Technologies Corporation
Rheinmetall Aktiengesellschaft
Textron Inc
The Boeing Company
These players focus on strategic partnerships and new product launches & commercialization for market expansion. They are heavily investing in research to introduce innovative products and garner maximum revenue in the market.
Defense Electronics Market Size Defense Electronics Market size was worth USD 230 Billion 2022 and is projected to expand at a 5% CAGR from 2023 to 2032.
Growing dependency on the safeguard of information & communication technologies betrays the exposure to cyber attacks. This brings in the necessity of cybersecurity mechanisms and advanced electronic systems to guard essential systems and confidential information.
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Defense electronics is a term used for electronic devices and special systems utilized in the country’s defense technology. Defense electronics offers strong electrical equipment, superior performance, protection from electricity, and fire extinction capacity to enhance the work executed and minimize injuries’ risk.
Defense Electronics Market Report Attributes
Report Attribute Description
Base Year 2022
Defense Electronics Market Size in 2022 USD 230 billion
Forecast Period 2023 to 2032
Forecast Period 2023 to 2032 CAGR 5%
2032 Value Projection USD 350 billion
Historical Data for 2018 to 2022
No. of Pages 250
Tables, Charts & Figures 290
Segments covered Component, Vertical, and Platform
Growth Drivers
Growing defense spending
Government initiatives in military infrastructure modernization
Emerging demand for unmanned systems
Growing emphasis on electronic warfare
Growing demand for defense electronics in border protection and maritime surveillance
Pitfalls & Challenges
Regulatory and export controls
Rising cyberattacks on defense related information
What are the growth opportunities in this market?
Defense electronics are under strict export control and international trade restrictions. Export controls are put in place to impede technology development and protect national security. Export compliance can be challenging for businesses in the global electronic protection market.
Defense Electronics Market Trends
Increased use of integrated defense technologies is expected to drive market growth. Integrated defense technologies involve the unification of various systems & technologies to develop extensive defense systems. The technologies may include sensors, communications, automation, and cyber defense. Integration facilitates effective sharing of information and communication among defense systems, leading to situational awareness, improved decision-making, and enhanced defense. Integrated defense technologies may also provide cost benefits and increase efficiency through decreased costs and enhanced deployment. The application of collision avoidance technology will grow in the future as the demand for flexibility and protection of operations increases.
Defense Electronics Market Analysis
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The defense electronics market is similar to a toolbox, and it has two principal sectionshardware and software. The hardware component is all the physical equipment, such as the computers, sensors, and other equipment that assist the military in constructing and operating their defense systems. This component is forecast to increase by 5.5% annually until 2032. A significant component of the hardware is referred to as “Electronic Warfare” (EW). EW equipment assists the military in defending themselves against attacks from enemies by jamming their signals and sensing threats. It has tools such as jammers, receivers, and electromagnetic radiation-monitoring systems. All these are like building blocks for sophisticated defense systems. They enable the military to view what is happening, communicate with one another, detect threats, and manage their operations. These are fundamental abilities in maintaining the security of a country.
In addition, as communications and communication security systems have become more dependent, the issue of cybersecurity has emerged as a serious concern. Hardware security and robust encryption systems that can safeguard systems against cyberattacks and guarantee data integrity drive the hardware system.
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By industry vertical, the defense electronics market’s navigation, communication & display segment grew at a 6.5% CAGR in 2022. These are focused on systems & technologies for precise location, navigation, and guidance in defense activities. This category comprises different equipment & systems designed to offer precise & reliable navigation in hostile environments. Moreover, unmanned systems such as UAVs (Military Drone) and UGVs are completely dependent on navigation systems to perform remotely or autonomously. The requirement for reliable and precise navigation hardware & software solutions for unmanned platforms will drive the navigation segment share.
By platform, the airborne segment accounted for about 35% of the defense electronics market share in 2022. The airborne segment deals with systems & technologies that are specifically designed to be used in aircraft and aircraft platforms. It has a range of electronics and systems that are necessary for on-board operations and mission success. Furthermore, avionics systems are fundamental elements of the airborne segment consisting of aircraft control flight control systems, communications, navigation, and tracking. They comprise flight control, cockpit messages, communications, navigation systems, and surveillance. The need for advanced avionics is a significant driver accounting for airborne segment expansion.
Hello! Let’s discuss the North American defense electronics market, which is a huge deal, representing some 40% of the world’s loot and over $95 billion in revenue last year. The United States, with the largest military budget in history (a staggering $715 billion in 2022), is investing heavily in strengthening its army and ensuring it remains dominant. This is generating a massive demand for defense electronics, which the US is pleased to provide with its powerhouse firms such as Northrop Gruman, Raytheon, and Lockheed Corporation. These firms are always in search of the next big thing, constantly investing in new technology that can maintain America’s defenses at their best. And as the US keeps on spending large on its armed forces, the North American defense electronics market is going to continue expanding.
Unmanned Surface Vehicle Market Size Unmanned Surface Vehicle (USV) Market size exceeded 500 million in 2022 and is projected to register over 5% CAGR during the forecast period 2023-2032.
The rise in the usage of solar batteries providing renewable & sustainable power to USVs is fueling their growth. The rise in demand for water quality monitoring owing to higher pollution rates and ocean data mapping that enables scientists to research previous climatic conditions are boosting the demand for unmanned surface vehicles.
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Furthermore, rising maritime security threats are prompting global navies to incorporate autonomous surface vehicles into their fleets, propelling the global unmanned surface vehicle market growth. These unmanned vehicles are widely used in disaster management services, particularly in search & rescue operations, preventive maintenance, and preservation of territorial and enclosed water areas.
Unmanned Surface Vehicle Market Report Attributes
Report Attribute Details
Base Year 2022
Unmanned Surface Vehicle Market Size in 2022 USD 500 Million
Forecast Period 2023 to 2032
Forecast Period 2023 to 2032 CAGR 5%
2032 Value Projection USD 1 Billion
Historical Data for 2018 – 2022
No. of Pages 524
Tables, Charts & Figures 559
Segments covered Type, Application, Endurance, Operations, Systems, Hull Type, Size
Growth Drivers
Increase in demand for data mapping
Rising demand for threats in maritime security
Integration of AI in unmanned naval vehicles
Huge investment in oil & gas industry
Pitfalls & Challenges
Networking issues
Presence of low-cost substitutes
What are the growth opportunities in this market?
The limited endurance and range of USVs can restrict their operational effectiveness, consequently hindering the market. The shortage of skilled operators is another aspect that can restrict the growth of the USV market. Although autonomous & semi-autonomous USV technology is developing at a fast pace, skilled operators are still needed to make sure that these ships are operated safely and efficiently.
COVID Impact
COVID-19 caused tremendous effects on the unmanned surface vehicle market because of the sudden shutdown of manufacturing plants in every industry. Post-pandemic, there has been a tremendous rise in the application of USVs for ocean mapping. Solution providers and manufacturers are taking various strategic moves to enhance their products in the post-COVID-19 world. The attendees are engaged in various research & development projects to enhance USV technology.
Unmanned Surface Vehicle Market Trends
People, these Unmanned Surface Vehicles (USVs) are really making waves out there. They’re robotic boats that can go out and do all kinds of interesting things, from searching out the ocean for signs of whatever to monitoring our coasts. One of the primary reasons why these USVs are becoming such a hit is because they’re particularly useful for military and defense missions. They’re able to do things such as scout ahead, detect and dispose of mines, and even battle submarines. And get this? They’re a whole lot safer for the individuals operating them, and they’re able to accomplish things that manned vessels can’t. But it’s not all in the military that USVs excel. They’re also a big assist to oceanographers and scientists who are researching the ocean. These robot boats are able to gather all kinds of information regarding the water, such as its temperature, currents, and salinity. And they can even monitor the animals and plants that inhabit down there.
Unmanned Surface Vehicle Market Analysis
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On the basis of application, the defense sector segment accounted for about 55% of the unmanned surface vehicle market share in 2022 and is likely to expand at a profitable rate by 2032. The rising need for USVs in anti-submarine warfare and special operations by military forces in high-priority missions, naval gunnery training, and firefighting & rescue missions will fuel their uptake in the application areas. Market vendors are integrating capabilities that enable real-time transmission of images as well as remote visual verification and recording of evidence.
On the basis of system, the market for unmanned surface vehicle is divided into propulsion, chassis material, payload, component, software, and communication. The communication segment was worth 100 million in 2022 and is likely to grow at a fastest rate. A communication system is a critical element in a USV. The communication system enables USVs to gather and send real-time data allows authorities to make informed and timely decisions, making them more popular for maritime surveillance.
Consequently, increasing need for maritime surveillance is driving the segment, as USVs offer an economical, efficient, and secure means of monitoring and surveillance in the maritime sector. This enhances the effectiveness and versatility of USVs for various applications such as defense, scientific research, and environmental monitoring. With a more efficient communication system, the USVs can execute a greater variety of tasks and missions. Learn about the most important segments defining this market
In 2022, roughly half of all unmanned surface vehicles (USVs) were remotely controlled.
That is to say, operators were able to sit in a different location and still monitor the vehicles. This is wonderful for sneaking around and spying on things in the ocean. But here’s the thingremote-controlled USVs require a good connection to function. And if they’re on a position with a great deal of electronic interference, such as a battlefield, the signal can be blocked or the opposing army will know where the USV is. That would be bad news. If it does happen, the USV must change over to autopilot driving or simply sit around like an inanimate piece of metal. Searching for region specific information?
Asia Pacific market for unmanned surface vehicles is on course to post gains of more than 10% through to 2032, driven by automation and robotics gain increasing traction in different end-use sectors.
USVs are finding application across the region due to their benefits, such as reduced cost of operation, enhanced safety, and the capacity to function in severe environments. They are being utilized across a range of industries such as defense, oil & gas, transportation, and oceanographic research. The uses of advanced technologies like artificial intelligence and machine learning are also driving market growth in the Asia Pacific region.
Some of the major players operating in the unmanned surface vehicle market are
5G International Inc.
BAE Systems
ECA GROUPE
lbit Systems Ltd.
Fugro
Kongsberg Maritime
L3Harris Technologies, Inc.
Liquid Robotics, Inc.
Maritime Robotics AS
OceanAlpha
SAAB AB
Sagar Defence Engineering
Teledyne, Inc.
Textron Systems
Thales
These players focus on strategic partnerships and new product launches for market expansion. Furthermore, these players are heavily investing in research, allowing them to introduce innovative products and garner maximum revenue in the market.
