Aerospace And Defense Telemetry Market Size

Aerospace and Defense Telemetry Market Analysis

The Aerospace And Defense Telemetry Market size is estimated at USD 3.26 billion in 2024, and is expected to reach USD 4.53 billion by 2029, growing at a CAGR of 6.79% during the forecast period (2024-2029).

• The COVID-19 pandemic caused the aerospace and defense (A&D) manufacturing industry to be shaken up in a way that had never happened before. However, the defense sector stayed stable and grew because most countries didn't cut their defense budgets and stayed committed to keeping their military power. The market is growing because more money is being spent on defense around the world, and more money is being spent on buying advanced radar systems for military communications. According to the Stockholm International Peace Research Institute (SIPRI), despite the pandemic, global defense spending reached USD 2,240 billion in 2022.
• Increasing telemetry use in military applications, like intercepted telemetry in guided missiles, land systems, armored vehicles, aircraft, marine ships, and UAVs, is expected to augment the demand for telemetry during the forecast period. Additionally, factors like an increase in defense spending due to various security threats imposed both externally and internally, increasing terrorist threats, several border security issues, and volatile relations among nations are expected to support the growth of the market studied. Nations are also investing in telemetry analysis data software and telemetry products. Also, factors like rising geopolitical tensions and research and development (R&D) in A&D telemetry are likely to give market leaders in telemetry products a huge opportunity for growth.