The North America Airborne Sensors Market would witness market growth of 5.0% CAGR during the forecast period (2022-2028).
Airborne sensors can be used for a variety of purposes. Drones are unmanned aerial vehicles that weigh very little, can fly at high altitudes, and are equipped with sensors, RGB cameras, infrared cameras, and navigation systems. These drones collect raw data and utilize algorithms to convert it into valuable information. Crop health, water needs, plant height, soil analysis, as well as vegetation indices, like yield or anomaly identification, are some of the monitoring metrics for UAVs in agriculture. Technology is an important aspect of farming since it has the ability to maximize revenues and farm output. Airborne sensors can also capture large terrains, such as forests, cities, long power lines, farmlands, rivers, and railway tracks.
The investments and expenditures by the government of the United States are significantly increasing. The administration is increasing its efforts on the enhancement and strengthening of the defense sector of the country. According to the United States Department of Defense, the organization had $1.92 trillion in budgeted resources available in FY 2022, which were split across its six agency sub-components. Using available budgetary resources, agencies make financial promises known as obligations.
In addition, according to the Department of Defense, the Biden-Harris Administration filed a planned Fiscal Year 2023 Budget request to Congress on March 28, 2022, totaling $813.3 billion for national defense and $773.0 billion of which is dedicated to Department of Defense (DoD). Due to the increased government expenditure on the defense sector, the adoption of airborne sensors is estimated to rise in the region.
The US market dominated the North America Airborne Sensors Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $2,745.5 million by 2028. The Canada market is anticipated to grow at a CAGR of 7.4% during (2022 - 2028). Additionally, The Mexico market would showcase a CAGR of 6.4% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Airborne Sensors Market is Estimated 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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