The Latin America, Middle East and Africa Airborne Sensors Market would witness market growth of 7.1% CAGR during the forecast period (2022-2028).
The rise in international terrorism threats is significantly responsible for the massive growth of the airborne sensors industry. Furthermore, increased defense and military budgets in both developing as well as developed countries are likely to boost the demand for advanced airborne sensor solutions in the future years, thus driving the market growth. As a result of technological improvements and increased R&D investment, the airborne sensor market is quickly developing. In August 2020, Thales Group, for example, launched I-Master, airborne surveillance radar.
The utilization of airborne sensors in this region is rapidly increasing. According to the Institute of Electrical and Electronics Engineers, in South Africa, remote sensing technology has advanced to the point where it is now used in several applications, including mining exploration, mapping, environmental monitoring, agriculture, and a variety of other applications. Photography (including stereo), multispectral or hyperspectral photography (several infrared bands), laser scanner/lidar, magnetic sensors (magnetometers), imaging radar, and gravity sensors are among the sensors used. Specialized airborne sensors are urgently required to allow South African technologists to build new and novel remote sensing applications to enhance the images available from current, very limited data sources.
In addition, a significant proportion of Africa is covered by forests. According to the African Natural Resources Center, forests cover between 21 and 23 % of Africa's total geographical area. Forest endowments, on the other hand, vary greatly across Africa's many regions and countries, with significantly higher proportions in the region's central and southern continents. With a large prevalence of forests, the African government is also leveraging airborne sensors for forestry surveillance. These factors are expediting the growth of the regional airborne sensing market.
The Brazil market dominated the LAMEA Airborne Sensors Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $182.3 million by 2028. The Argentina market is estimated to grow at a CAGR of 7.7% during (2022 - 2028). Additionally, The UAE market would witness a CAGR of 6.8% during (2022 - 2028).
Based on Type, the market is segmented into Non-Scanning and Scanning. Based on Application, the market is segmented into Defense Aircraft, Commercial Aircraft, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Airborne Sensors Market is Predict to reach $12 billion by 2028, at a CAGR of 5.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Honeywell International, Inc., General Dynamics Corporation, Hexagon AB (Leica Geosystems AB), Teledyne Optech, Inc. (Teledyne Technologies Inc.), Thales Group S.A., Raytheon Technologies Corporation, Lockheed Martin Corporation, ITT, Inc., AVT Airborne Sensing GmbH (Vermessung AVT-ZT-GmbH), and Information System laboratories.
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