Global airborne sensors market to reach $14.5 billion by 2030: reportNews
July 21, 2022
PORTLAND, Oregon. A new report predicts that the global airborne sensors market will grow from $9.2 billion in 2021 to $14.5 billion in 2030, a compound annual growth rate (CAGR) of 5.3%.
The report, from Allied Marked Research, states that an increase in international terrorism threats and a surge in defense and military budgets to strengthen national security in developing and developed countries are driving this growth.
Also, technological advacenements and product innovation in this market, coupled with a rise in research and development investment, presents new opportunities in the coming years, the report adds.
Non-scanning sensors had the largest market share in 2021, with more than three-fifths of the market, but the scanning segment is expect to have a 5.5% CAGR over the next eight years due to advantages such as high-resolution imagery and suitability for rescue operations, according to the report.