South Korea Aerospace and Defence News

  The global 5G in aviation market size is projected to reach USD 4.2 billion, surging at a CAGR of 53.46% during the forecast period. Increasing need to replace 4G LTE with 5G technology in aviation is foreseen to be one of the central factors driving the growth of this market. Aviation industry is expanding at breakneck speed and 5G technology is slated to play a crucial role in charting its development. Introduction of 5G in this industry is aimed at establishing a robust connectivity infrastructure that would facilitate seamless communication between aircraft and their ground control systems. Moreover, high-speed internet on planes would enable people to conduct business activities whilst they are flying, saving them precious time and energy. More importantly, 5G will be instrumental in strengthening the integration of Internet of Things (IoT) technology in the aviation domain, a feat that would be difficult to attain with 4G LTE. This would greatly augment the 5G in aviation m...

  The global eVTOL aircraft market size was estimated to be worth  USD  1.11 billion   in 2020 . The market value is expected to increase from  USD 5.41 billion in 2021 to USD 23.21 billion   in 2028  at a  CAGR of  23.13 %  during 2021-2028. Growing urbanization, increasing traffic congestion, and the need for smarter transportation solutions are some of the major factors propelling the market forward.  Fortune Business Insights  presents this information in its report titled  “ EVTOL Aircraft Market, 2021-2028." Electric vertical take-off and landing aircraft are increasingly gaining traction across the globe. This technology represents the next generation of transportation solutions that are safer, quieter, and cleaner. Such aircraft work on electric propulsion, making them a sustainable option compared to conventional air carriers. The demand for this technology will increase significantly in the next few yea...

  The global aircraft seating market size was valued at USD 6.87 billion in 2021 and reached USD 6.94 billion in 2022. The market is expected to reach USD 9.25 billion by 2029, exhibiting a CAGR of 4.19% during the forecast period. Rising passenger aircraft deliveries and the adoption of lightweight materials are expected to propel the market development.   Fortune Business Insights ™  provides this information in its report titled “ Aircraft Seating Market, 2022-2029. ” COVID-19 Impact: Supply Chain Disruptions to Impede Market Growth This market is expected to be negatively affected during the COVID-19 pandemic due to disruptions in the supply chain. This disruption is attributable to the restrictions placed on manufacturing to avoid infection spread. Further, travel and transport restrictions may hinder the availability of raw materials required to produce seating products. However, manufacturers adopt reduced capacities, part-time shifts, and automated production tech...

  The global  military antenna market  size is expected to gain momentum by reaching USD 6.28 billion by 2028 while exhibiting a CAGR of 9.52% between 2021 and 2028. This information is published by Fortune Business Insights in its report titled “Military Antenna Market, 2021-2028.” The report further mentions that the market stood at USD 3.25 billion in 2020. Factors such as the rising military expenditure and the growing cross-border disputes are anticipated to propel the demand for the product during the forecast period. The effect of the global pandemic, COVID-19, has been felt across several economies that are facing unprecedented loss. Owing to the lockdown announced by the government agencies, several industries have been on a standstill with limited operational activities. However, a collective effort from the government as well as the industries is likely to bring the economy back on track and aid in the resumption of industrial activities. Get a Sample PDF Broch...

The global aerospace fasteners market size was USD 4.61 billion in 2021. The market is expected to grow from USD 4.86 billion in 2022 to USD 7.73 billion in 2029, exhibiting a CAGR of 6.85% during the forecast period. Rising demand for commercial aircraft and strong robotics & 3D printing adoption is expected to bolster the market development.  Fortune Business Insights ™  provides this information in its report titled “ Aerospace Fasteners Market, 2022-2029. ” Aerospace fasteners are used to manufacture aircraft. It is assembled in diverse locations and used in several manufacturing locations to transform parts into an aircraft. Rising demand for aircraft is expected to boost the adoption of fasteners. Increasing air traffic leads to a spike in aircraft manufacturing, thereby facilitating component usage. Further, strong adoption of 3D printing and robotics is expected to increase the adoption of the product from the aerospace industry. These factors may promote the marke...

  The global drone power sources market size was USD 2.45 billion in 2020. The market is projected to grow from USD 2.57 billion in 2021 to USD 5.33 billion in 2028 at a CAGR of 11.0% in the 2021-2028 period. This information is published by Fortune Business Insights™, in its report, titled,  “Drone Power Sources Market Size, Share & COVID-19 Impact Analysis, By Drone Type (MALE, HALE, Special Mission Drone, Medium and Small Drone, Nano Drone, and Passenger Drone), By Power Source (Fuel Cells, Battery, Solar Cells) By Flight Time (Below 1 Hour, 1 Hour - 25 Hours, 25 Hours - 50 Hours, and More than 50 Hours), By Point of Sale (OEM and Aftermarket), By End User (Commercial and Military), and Regional Forecast, 2021 – 2028.” As per our researchers, the growing adoption of drones in established and emerging economies has resulted in enlarged demand for modern Drone Power Sources. The increasing requirements of surveillance drones by military and army forces ensure au...

  The global aircraft aftermarket parts market size is expected to gain momentum by reaching USD 47.33 billion by 2028 while exhibiting a CAGR of 6.12% between 2021 and 2028. This information is published by Fortune Business Insights in its latest report, titled,   “Aircraft Aftermarket Parts Market, 2021-2028.”  The report further mentions that the market stood at USD 29.44 billion in 2020. Factors such as the increasing number of phasing out of the aging aircraft and the estimated growth in air travel in near future is expected to favor the product’s demand. For instance, according to Airbus SAS, the growth of the passenger fleets will double from 21,000 aircraft in 2019 to 45,000 by 2035 due to the rising air travel worldwide. The global pandemic, COVID-19, has resulted in several economies facing unprecedented loss. Owing to the lockdown announced by the government agencies globally, several manufacturing facilities have been at a standstill with limited operational a...

  The global   drone Services market size   was USD 7.12 billion in 2020. The market is projected to grow from   USD 9.56 billion in 2021 to USD 134.89 billion in 2028 at a CAGR of 45.9%   in the 2021-2028 period. This information is published by Fortune Business Insights™, in its report, titled, “Drone Services Market, 2021-2028.” According to our researchers, the rising usage of drones has empowered the Services delivering industry to expand drastically and suddenly across the world. Furthermore, unmanned aircraft systems (UAS) alternatively known as drone providing facilities that involve monitoring, environment surveillance, aerial photography, and plotting among others. These drones deliver solutions to numerous establishments for drawing up real-time tactics. Request a Sample PDF - https://www.fortunebusinessinsights.com/enquiry/sample/drone-services-market-102682  Growing Demand for Supply Drones in Medical Industry amid COVID-19 to Augment Growth Th...