The IoT in Aerospace And Defense Global Market Report 2023, provides comprehensive information on the IoT in aerospace and defense market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
Learn More On The IoT in Aerospace And Defense Market’s Growth:
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As per The Business Research Company’s IoT in Aerospace And Defense Global Market Report 2023, the global IoT in aerospace & defense market size is expected to grow from $42.08 billion in 2022 to $48.83 billion in 2023 at a compound annual growth rate (CAGR) of 16.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, affecting many markets across the globe. The global IoT in aerospace & defense market size is expected to reach $84.44 billion in 2027 at a CAGR of 14.7%.
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Product innovation is a key trend gaining popularity in the IoT in the aerospace and defense market. Major companies operating in the IoT in the aerospace and defense market are focusing on developing new products. For instance, in September 2021, EDJX, a US-based computing platform company, and Cubic Corporation a US-based technology solutions company jointly launched an Internet of Military Things Edge Platform. It is uniquely designed that combines the edge computing and networking technology from Cubic Corporation with EDJX EdjOS to create a converged infrastructure solution. Significant implications for IoT and cutting-edge AI solutions are also provided by this platform. The EDJX platform represents an enormous advancement in edge computing. It allows intelligent IoT and C2 application solutions to scale from base to battlefield, lowering cognitive lift while increasing operational tempo for military personnel.
The IoT in aerospace and defense market is segmented:
1) By Component: Hardware, Software, Services
2) By Connectivity Technology: Cellular, Wi-Fi, Satellite Communication, Radio Frequency
3) By Deployment Mode: On-Premise, Cloud
4) By Application: Fleet Management, Inventory Management, Equipment Maintenance, Security, Other Applications
5) By End User: Space Systems, Ground Vehicles, Other Users
Product innovation is a key trend gaining popularity in the IoT in the aerospace and defense market. Major companies operating in the IoT in the aerospace and defense market are focusing on developing new products. For instance, in September 2021, EDJX, a US-based computing platform company, and Cubic Corporation a US-based technology solutions company jointly launched an Internet of Military Things Edge Platform. It is uniquely designed that combines the edge computing and networking technology from Cubic Corporation with EDJX EdjOS to create a converged infrastructure solution. Significant implications for IoT and cutting-edge AI solutions are also provided by this platform. The EDJX platform represents an enormous advancement in edge computing. It allows intelligent IoT and C2 application solutions to scale from base to battlefield, lowering cognitive lift while increasing operational tempo for military personnel.
North America was the largest region in the IoT in aerospace and defense market in 2022.
The table of contents in TBRC’s IoT in aerospace and defense market report includes:
- Executive Summary
- Market Characteristics
- Market Trends And Strategies
- Impact Of COVID-19
- Market Size And Growth
- Segmentation
- Regional And Country Analysis
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- Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
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