The global IoT in aerospace & defence market size reached US$ 50.6 Billion in 2023. Looking forward, the market is projected to reach US$ 72.7 Billion by 2032, exhibiting a growth rate (CAGR) of 3.11% during 2023-2032. The significant expansion in the aerospace industry, extensive research and development (R&D) activities, and the increasing utilization of IoT in the defense industry due to the growing concerns for national security represent some of the key factors driving the market.
The internet of things (IoT) in aerospace and defense refers to the technological solution used for connecting mechanical equipment and objects to the internet. It comprises various tools and services enabling better management of the industry and utilization of networked smart devices with real-time data cooperation. It is widely used in health management, repair and maintenance, mobility planning, inventory control, analytical tools, and remote monitoring.
IoT in aerospace and defense helps to increase overall efficiency and safety and achieve optimum operational efficiency through predictive maintenance, data analytics, and smart surveillance features. It also assists in controlling temperature in the cabin, enhancing aircraft safety and operation performance, managing traffic, improving passenger experience and luggage management, reducing various recurring complexities, and optimizing maintenance.
Apart from this, the rising demand for combining sensor systems, actuators, and control systems with existing military infrastructures and the widespread utilization of networked cameras and flying drones, survey the battlefield to map the terrain and enemy positions and send the information to the command center are providing an impetus to the market growth. Additionally, the extensive application of IoT in defense due to its benefits, including high satellite connection, enhanced security, and quick decision-making abilities, is propelling the market growth.
Furthermore, the widespread utilization of IoT for emergency calling, activating public warning systems, mission-critical logistics support, and communication regarding situational awareness, along with the increasing demand for real-time tracking of armed truck's speed and braking system, is positively influencing the market growth. Other factors, including increasing internet penetration, extensive research and development (R&D) activities, and the implementation of various government initiatives to upgrade the defense and aerospace sectors, are anticipated to drive the market growth further.
2. What is the expected growth rate of the global IoT in aerospace & defense market during 2024-2032?
3. What are the key factors driving the global IoT in aerospace & defense market?
4. What has been the impact of COVID-19 on the global IoT in aerospace & defense market?
5. What is the breakup of the global IoT in aerospace & defense market based on the component?
6. What is the breakup of the global IoT in aerospace & defense market based on the connectivity technology?
7. What is the breakup of the global IoT in aerospace & defense market based on the deployment mode?
8. What is the breakup of the global IoT in aerospace & defense market based on the application?
9. What are the key regions in the global IoT in aerospace & defense market?
10. Who are the key players/companies in the global IoT in aerospace & defense market?
The internet of things (IoT) in aerospace and defense refers to the technological solution used for connecting mechanical equipment and objects to the internet. It comprises various tools and services enabling better management of the industry and utilization of networked smart devices with real-time data cooperation. It is widely used in health management, repair and maintenance, mobility planning, inventory control, analytical tools, and remote monitoring.
IoT in aerospace and defense helps to increase overall efficiency and safety and achieve optimum operational efficiency through predictive maintenance, data analytics, and smart surveillance features. It also assists in controlling temperature in the cabin, enhancing aircraft safety and operation performance, managing traffic, improving passenger experience and luggage management, reducing various recurring complexities, and optimizing maintenance.
IoT in Aerospace & Defence Market Trends
Significant expansion in the aerospace industry across the globe is one of the key factors driving the market growth. This can be attributed to the various associated advantages, such as increased engine fuel economy, noise performance improvement, and emission cancellation, which is favoring the market growth. Moreover, IoT in aerospace is widely used to track air conditions and the flow of passengers and allows real-time monitoring of aircraft systems. The increasing utilization of IoT in the defense industry due to the growing concerns for national security is acting as another growth-inducing factor.Apart from this, the rising demand for combining sensor systems, actuators, and control systems with existing military infrastructures and the widespread utilization of networked cameras and flying drones, survey the battlefield to map the terrain and enemy positions and send the information to the command center are providing an impetus to the market growth. Additionally, the extensive application of IoT in defense due to its benefits, including high satellite connection, enhanced security, and quick decision-making abilities, is propelling the market growth.
Furthermore, the widespread utilization of IoT for emergency calling, activating public warning systems, mission-critical logistics support, and communication regarding situational awareness, along with the increasing demand for real-time tracking of armed truck's speed and braking system, is positively influencing the market growth. Other factors, including increasing internet penetration, extensive research and development (R&D) activities, and the implementation of various government initiatives to upgrade the defense and aerospace sectors, are anticipated to drive the market growth further.
Key Market Segmentation
This report provides an analysis of the key trends in each segment of the global IoT in aerospace & defence market, along with forecasts at the global, regional, and country level from 2024-2032. The report has categorized the market based on component, connectivity technology, deployment mode, and application.Component Insights:
- Hardware
- Software
- Services
Connectivity Technology Insights:
- Cellular
- Wi-Fi
- Satellite Communication
- Radio Frequency
Deployment Mode Insights:
- On-premises
- Cloud-based
Application Insights:
- Fleet Management
- Inventory Management
- Equipment Maintenance
- Security
- Others
Regional Insights:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape
The report has also provided a comprehensive analysis of the competitive landscape in the global IoT in aerospace & defence market. Detailed profiles of all major companies have also been provided. Some of the companies covered include AeroVironment Inc., AT&T Inc, Elbit Systems Ltd, Freewave Technologies Inc., Northrop Grumman Corporation, SAP SE, Synopsys Inc. etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.Key Questions Answered in This Report
1. How big is the global IoT in aerospace & defense market?2. What is the expected growth rate of the global IoT in aerospace & defense market during 2024-2032?
3. What are the key factors driving the global IoT in aerospace & defense market?
4. What has been the impact of COVID-19 on the global IoT in aerospace & defense market?
5. What is the breakup of the global IoT in aerospace & defense market based on the component?
6. What is the breakup of the global IoT in aerospace & defense market based on the connectivity technology?
7. What is the breakup of the global IoT in aerospace & defense market based on the deployment mode?
8. What is the breakup of the global IoT in aerospace & defense market based on the application?
9. What are the key regions in the global IoT in aerospace & defense market?
10. Who are the key players/companies in the global IoT in aerospace & defense market?
Table of Contents
1 Preface3 Executive Summary12 Value Chain Analysis14 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global IoT in Aerospace & Defence Market
6 Market Breakup by Component
7 Market Breakup by Connectivity Technology
8 Market Breakup by Deployment Mode
9 Market Breakup by Application
10 Market Breakup by Region
11 Drivers, Restraints, and Opportunities
13 Porters Five Forces Analysis
15 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- AeroVironment Inc.
- AT&T Inc
- Elbit Systems Ltd
- Freewave Technologies Inc.
- Northrop Grumman Corporation
- SAP SE
- Synopsys Inc. etc.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 140 |
| Published | April 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 50.6 Billion |
| Forecasted Market Value ( USD | $ 72.7 Billion |
| Compound Annual Growth Rate | 4.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 7 |
