BIS Research Study Suggests Exponential Growth of Aerospace Market in Coming Years
FREMONT, Calif., February 23, 2022 /PRNewswire/ — BIS Research analysts project space and aerospace market to have a significant growth of CAGR 4.85% during the forecast period 2021-2026. This projection is largely based on the various innovative products that are developed to enhance the capabilities of the industry offerings by the competitors.
BIS Research provides aerospace market research reports, highlighting technological developments that have occurred in satellites, launch vehicles and deep space. Space Technology Market Research Reports offer actionable insights along with in-depth access to understand new emerging technology trends, market data forecasts, and other critical insights, to help clients take strategic decisions.
Here is some of the latest market insights from BIS Research on emerging technologies in the space and aerospace industry.
Analysis of the counter-UAS (anti-drone) market
Counter-drone technology, also known as counter-UAS, or C-UAS technology, is a type of instrument used to locate, identify, repair and neutralize unmanned aerial vehicles (UAVs) to reduce drone threat risks.
According to market reports from BIS Research, the global counter-UAS (anti-drone) market should reach $6.44 billion in 2031. The main reason for this high growth in the counter drone market is the increasing demand for maintenance and monitoring of the increasing number of satellite launches.
Currently, there are more than one million registered drones, and this number is increasing day by day. With a huge presence of drones in the air, counter drone technology can play a big role in reducing the potential risks associated with the use of commercial drones.
Sample FREE Counter-UAS (Anti-Drone) Market Report Available Here
Satellite Positioning, Navigation and Timing (PNT) Technology Market Analysis
PNT technology helps satellites determine geographic location, navigate roads, and track accurate time. PNT technology is derived from Global Navigation Satellite System (GNSS) for smoother satellite communications.
The key function of PNT is to improve the performance of GNSS by providing the required information on integrity, accuracy, continuity and available signals for navigation and geolocation applications.
In 2020, the market value of technology was $961.7 million. The latest BIS Research study now suggests that the Global Satellite Positioning, Navigation and Timing (PNT) Market is set to reach a value of $8.81 billion by 2031.
The key driver for the growth of the PNT market is the high need for resilient navigation, positioning, and accurate time data for day-to-day applications in the defense and commercial sectors.
Sample FREE Position, Navigation and Satellite Timing (PNT) Market Report Available Here
Analysis of the flat panel satellite antenna market
In the past, after the satellite discoveries, the prevailing trend was to develop and design larger satellites. This was mainly due to larger subsystems and more efficient and capable satellites.
In recent decades, however, the space industry has become more technologically advanced with the manufacture and launch of satellites. Due to such high development of bigger satellites, it has resulted in a better means of global communication by satellite.
According to market reports from BIS Research, the global flat panel satellite antenna market is expected to experience strong growth with a CAGR of 16.63% and touch $18.39 billion in 2031.
The major reason for the global growth of the flat panel satellite antenna industry is the growing need for connectivity based on satellite services across the globe for several applications such as navigation and communications.
Sample FREE Global Flat Panel Satellite Antenna Market Report Available Here
Commercial Space Payload Market Analysis
Satellites are manufactured with special communication systems and radio devices that meet several applications such as remote sensing, satellite internet, earth observations and communications.
Commercial space payload is the cargo that is sent into Earth’s orbit using special space vehicles. The commercial space payload has been generated recently by sending a satellite into Earth orbit, mainly into Geosynchronous Earth Orbit (GEO) and Low Earth Orbit (LEO).
According to market reports from BIS Research, the global commercial space payload market is supposed to touch $56.32 billion by 2031, with a growth rate of 5.51% in 2021-2031.
Sample FREE Global Commercial Space Payload Market Report Available Here
About BIS Research:
BIS Research is a global B2B market intelligence and advisory firm that focuses on deep technologies and related emerging trends that are likely to disrupt market dynamics in the near future. We publish over 200 market intelligence studies annually that focus on multiple deep technology verticals.
Our strategic market analysis emphasizes market estimates, technology analysis, high growth emerging applications, deeply segmented country-level granular market data, and other significant market parameters helpful in making strategic decision making for senior management.
BIS Research offers group studies as well as custom studies and expert consultations to companies, providing them with specific and actionable insights into new technology markets, business models and the competitive landscape.
BIS Healthcare vertical offers health technology market insights for medical devices, digital health, life sciences, robotics and imaging, information technology, precision medicine and other emerging health technologies, spanning the entire industry spectrum. Over the past 5 years, BIS Healthcare has published over 50 reports under the Precision Medicine banner. Additionally, BIS Research has successfully nominated the top 25 precision medicine voices on its Insight Monk platform for the past two years.
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SOURCE BIS Research