The global epoxy putty & construction chemicals market size is expected to witness potential gains in the future and register a significant CAGR over the forecast period (2019 – 2027).

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Market Overview

Epoxy putty is a room-temperature hardening substance used as a space-filling adhesive. It is a thermosetting copolymer formed from reaction of an epoxide resin with polyamine hardener. Construction chemicals are used with cement, concrete or other construction materials during construction to hold the construction material together. Construction chemicals include concrete chemicals, bonding agents, concrete coatings, concrete repair chemicals, curing and sealing compounds, dry shake floor hardeners, and water proofing chemicals.

Market Dynamics

Epoxy putty finds application in paints and coatings, adhesives, industrial tooling and composites, and electrical systems and electronics. It is used on a wide range of metal surfaces such as brass, aluminum, stainless steel, iron, silver, gold, copper, bronze, and chromium. It can also be applied on fiberglass, wood, PVC, concrete, glass, and ceramic tiles. Construction chemicals are majorly used in the building and construction industry to achieve various important qualities such as workability, and durability of projects. Therefore, growing demand for epoxy putty and construction chemicals from end-use industries is expected to boost growth of the global epoxy putty and construction chemicals market over the forecast period.

Increasing construction activities in the residential sector is expected to lead to high demand for epoxy putty and construction chemicals, which in turn is also expected to boost the market growth.

Market Outlook

On the basis of region, the global epoxy putty and construction chemicals market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. Asia Pacific epoxy putty and construction chemicals market is expected to hold dominant position in the market, owing to increasing number of construction activities in the private as well as government sector. The market is also expected to witness the fastest growth in terms of revenue. The market in Middle East is expected to witness significant market share, owing to rapid infrastructure development. The market in Latin America is mainly driven by increasing number of sports events that promote infrastructure development.

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Key Players

Key players operating in the global epoxy putty and construction chemicals market include, 3M Company, Adco Inc., Akzonobel N.V., Albemarle Corporation, Arkema S.A., Bolton Group, BASF SE, Ashland Inc., Pidilite Industries Ltd., Bostik Inc., Cementaid (N.S.W.) Pty. Ltd., Chryso S.A.S. and Cico Technologies Ltd.

Artificial Intelligence is increasingly being adopted in the automotive sector, in order to reduce human errors and human intervention. Artificial intelligence autonomously enhances visual perception, decision making, and speech recognition. The increasing government regulations for vehicle safety become one of the major driver for the growth of the market.

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Increasing demand for autonomous vehicles is a major factor driving growth of the artificial intelligence in automotive market

Increasing demand for autonomous vehicles is expected to support growth of the artificial intelligence in automotive market. Increasing number of road accidents and fatal injuries, due to human errors has led to increasing demand for autonomous vehicles. For instance, according to the World Health Organization (WHO), 2015, fatalities of 1.25 million people were reported and 50 million people were injured, due to road accidents globally. Therefore, using autonomous vehicles could reduce accidents due to human errors. Key automakers are focusing on developing autonomous vehicles, which is expected to aid in growth of the market. For instance, Volkswagen is expected to launch self-driving cars by 2019 and BMW is expected to launch autonomous iNext by 2021. Moreover, fleet operators are also focusing on deploying self-driving cars, in order to enhance their market share. For instance, 2016, NuTonomy—a U.S.-based company, announced its plans to deploy self-driving taxi services in Singapore by 2018, and plans to be operational with fleets of self-driving taxies in 10 cities of the world by 2020.

Deep learning segment is expected to hold the largest share in the market over the forecast period

Deep learning segment held the largest share in 2016 and is projected to retain its dominance throughout the forecast period. Increasing use of deep learning by automotive manufacturers such as Audi, Delphi, Ford, and Volkswagen for various applications such as data analysis, speech recognition, image processing has led to growth of this segment.

Artificial Intelligence in Automotive Market Taxonomy

On basis of offering, the artificial intelligence in automotive market is segmented into

• Hardware
• Software

On basis of technology, the artificial intelligence in automotive market is segmented into

• Deep learning
• Machine learning
• Infotainment Systems
• IOT (Internet Of Things)
• Cognitive Capabilities

On basis of application, the artificial intelligence in automotive market is segmented into

• Semi-autonomous applications
• Fully-autonomous applications

Artificial intelligence in automotive market- Regional Insights

The global artificial intelligence market is segmented on the basis of regions into North America, Europe, Asia Pacific, Latin America, and Middle East, and Africa. North America is expected to account for the largest market share in the artificial intelligence in automotive market over the forecast period. This is due to existence of government initiatives regarding the enhancement of the automotive vehicles. For instance, in 2016, the US government has invested US$ 4 billion for autonomous vehicles. Also, high presence of market leaders such as Qualcomm Inc., Ford Motor Company, and General Motors Company is another factor for growth of this market. U.S. and Canada are the growth engines in North America.

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Artificial intelligence in automotive market- Competitive Background

Major players of global artificial intelligence in automotive market are Qualcomm Inc. (U.S.), Tesla Inc., Volvo Car Corporation, BMW AG, Audi AG (Germany), General Motors Company (U.S.), Ford Motor Company (U.S.), Toyota Motor Corporation (Japan), Hyundai Motor Corporation (South Korea), Uber Technologies Inc. (U.S.), and Apple Inc.

Cloud encryption is the service offered by cloud storage providers for encrypting data before storing on the cloud. Encryption is one of the most effective approaches towards data security, scrambling content of any system, database, and file in such a way that it is not possible to decode without a decryption key. Thus, encrypting the data is an essential for data security, and is a major factor propelling growth of the market. Increasing cloud traffic is another major driver for growth of the cloud encryption market. For instance, according to Coherent Market Insights, global cloud IP traffic is expected to reach 14 ZB by the end of 2020, up from 4 ZB per year in 2015.

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Increasing concerns related to data security is among the major driving factors for growth of the market

Companies and organizations are increasingly adopting cloud encryption techniques for protecting their sensitive information from threats such as data breaches, unauthorized use of data by third party, and malware. For instance: According to CMI survey, in 2017, 98 % of the companies are have experienced the malware attacks, 69% of the companies have experienced the phishing and social engineering attacks. Thus, encryption techniques such as cryptography and steganography are being used for increasing data security, which in turn, is help in reducing data breaches sue to cyber-attacks. This is further expected to aid in growth of the market over the forecast period.

Cloud Encryption Market: Segmentation

• By component
  • Solution
  • Services
• By organization size
  • Small Enterprises
  • Medium Enterprises
  • Large Enterprises
• By service model:
  • SAAS(software as a services)
  • PAAS(platform as a services)
  • IAAS(Infrastructure as a services)
• By platform/End-User:
  • BFSI
  • Healthcare
  • Retail and Consumer goods
  • IT and Telecom
  • Media and Entertainment
  • Travel and Hospitality
  • Government
  • Other

Cloud Encryption Market: Regional Insights

On the basis of geography, global cloud encryption market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. The market for cloud encryption in North America is expected to account for the largest share in the global market over the forecast period. The U.S. held the dominant position in North America cloud encryption market in 2016. The U.S. and Canada are major growth engines in North America. Organizations in North America are focusing on their shifting business workload to cloud environment and this is one of major driving factors for growth of the cloud encryption market. For instance, in 2016, North America accounted for around 42% of the cloud data center workload, globally. As these businesses to shift their workload to cloud, demand for encryption techniques for managing the sensitive data increases, in order to protect the data from cyber threats. Therefore, this is expected to aid in growth of the market. Moreover, increasing cloud traffic in North America is also another major factor for growth of the market. According to the Coherent Market Insights analysis, in 2015, the cloud traffic was 1891 EB (Exabyte) and is estimated to reach 6844EB (Exabyte) by 2020.

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Cloud Encryption Market: Competitive Background

Major players operating in the cloud encryption market are Cipher Cloud Inc. (U.S.), Hytrust Inc. (U.S.), Gemalto N.V. (the Netherlands), IBM Corporation (U.S.), Secomba GmbH (Germany), Sky-high Networks Inc. (U.S.)., Sophos Group Plc. (U.K.), Vormetric (U.S.), Boxcyrptor (U.S.), Viivo, Wave System, Symantec Corporation (U.S.), and Thales e-Security Corporation (France).

An open stack is an open source cloud platform, which is focused on free cloud computing services. It consists of software tools that help in managing the platform for the public and private clouds.

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Open source platform is the major driving factor for growth of the global open stack services market

According to a recent market survey by Coherent Market Insights, more than 78 percent of enterprises operate on open source and less than 3 percent indicate that they don’t rely on open software. Significant paradigm shift towards open-source software, owing to the requirement to gain competitive edge and enhance their operational productivity is expected to drive market growth. Some of the major technology players that include Amazon, Google, IBM, Facebook, Walmart, and The Linux Foundation have made substantial strategic developments towards these platforms. For instance, in February 2018, The Linux Foundation introduced Akraino Project, that aids carrier availability and performance requirements in cloud services.

Open source software doesn’t include additional charges and fees associated with proprietary software, such as administration fees, multi-user fees, and software upgrade costs, which reduces the business operating cost and budget. It also enables to allocate more money on beneficial enterprise services associated with open source services such as user training, support, and custom development.

Open source services (OSS) help the business in terms of financial saving, reducing operating costs, and enables the business to allocate their finance on the secondary activities that includes user training, support and custom development.

Demand for open source is increasing, as it is a proven essential tool for enterprise IT revolution, operational effectiveness, and business value formation. This in turn, is increasing growth of the open stack services market.

Increasing adoption of open sources among IT enterprises to improve key business functions, especially financial management and accounting is the major factor boosting growth of the market. However, high initial cost of implementation and lack of skilled workforce are the major restraining factor for growth of the global open stack service market.

Global Open Stack Services Market Taxonomy

By Provider:

• Solution
• Services

By Infrastructure

• Large Enterprises
• Medium Enterprises
• Small Enterprises

By End-User

• Academic Research
• Information Technology
• Telecom
• Healthcare/Life Science
• Others

Global Open Stack Services Market Outlook – North America held the largest share in the global open stack services market in 2016.

North America region held a dominant industry position and is estimated to retain its dominance over the forecast period, owing to increasing adoption of advanced technologies, such as cloud computing, Big Data, Internet of Technology (IoT), and business intelligence tools by the organizations, which in turn is reducing the business cost and increasing the productivity and profitability. According to the Coherent Market Insights, the cloud application market in the U.S. accounted for US$ 19.93 billion in 2017, which in turn expanded the U.S. economy by 2.3%, which is higher than 1.5% in 2016.

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Key Companies in Global Open Stack Services Market

Technology-driven trends are expected to revolutionize the industry players respond to fluctuating consumer behavior, improve partnerships, and drive transformational variation. Digitization, increasing automation, and new business models have changed the IT industries. Major players operating in the global open stack services market include Canonical (U.K.), Cisco Systems Ltd. (U.S.),Dell EMC Corporation (U.S.), Helion Open Stack Corporation (U.S.),Huawei Technologies Corporation Ltd(China), IBM Cloud Manager (U.S.), Mirantis Open Stack (U.S.), Oracle Corporation (U.S.), Rack-space (U.S.), Red Hat Open Stack(U.S.), SUSE (Germany), and VMware

Session border controller is a device, which provides high security and maintains quality interactive communications through multiple IP networks. Increasing demand for voice over Internet protocol is one of the major drivers for growth of the session border controller market globally. According to Coherent Market Insights, in 2017, 258.5 million VoIP subscribers were present globally and is projected to reach 285.9 million subscribers by 2018 end.

Adtran, Inc., Audiocodes Ltd., Avaya Inc., Cisco Systems, Inc., Edgewater Networks Inc., Genband, Inc., Ingate Systems AB, Oracle Corporation, Patton Electronics Co., and Sonus Networks, Inc. are some of the major companies in the global enterprise session border controller market.

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Large Enterprises segment is projected to exhibit the highest CAGR over the forecast period. Large scale enterprises have adopted session border controller for network security and for maintaining the quality of network service. Moreover, advantages such as efficient bandwidth utilization and routing session has helped large scale companies to reduce its IT expenses.

North America held the dominant position in the market and is projected to retain its dominance throughout the forecast period. The U.S. and Canada are the growth engines in this region. Due to presence of companies such as Verizon, AT&T providing Voice over internet protocol services have led to increasing demand for session border controller market in this region. Moreover, the region is characterized by large presence of early adopters of novel technologies and robust IT infrastructure. 

Asia Pacific market is projected to exhibit the highest CAGR over the forecast period. India, China, and Japan are some of the major countries in this region. This is owing to growth of mobile VoIP market in this region thus, accelerating growth of the session border controller market. According to Coherent Market Insights, Asia Pacific mobile VoIP market is expected to be valued at US$ 60 billion by 2024.

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Key Companies: Global Enterprise Session Border Controller Market

Adtran, Inc., Audiocodes Ltd., Avaya Inc., Cisco Systems, Inc., Edgewater Networks Inc., Genband, Inc., Ingate Systems AB, Oracle Corporation, Patton Electronics Co., and Sonus Networks, Inc. are some of the major companies in the global enterprise session border controller market.

Data center virtualization is a process of designing, developing or deploying a data center on cloud computing or virtualization technology. Cost saving is one of the major factors for growth of the data center virtualization market. This is owing to the fact that data center virtualization helps to reduce hardware installation, and reduces electricity cost by providing hosted platform. Therefore, it aids small and medium sizes companies to reduce their expenses on IT department.

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Advantages of disaster recovery provided by data center virtualization plays a key role for growth of market in various vertical such as banking, healthcare, education, and retail. Disaster recovery-as-a-service protects company information and data from disasters by generating multiple backups. Increasing demand for data either structured or unstructured, for analyses of the market trend, customer demand, product discretion etc. have led to raising demand for data storage, which is positively affecting growth of the data center virtualization market.

Healthcare segment is projected to exhibit the highest CAGR over the forecast period. Increasing adoption of electronic health record, hospital information system, picture archiving, and communication systems has led to demand for data storage. This increasing demand for data storage in healthcare have led to increasing adoption of cloud, which reduces IT maintenance cost.

Small and medium-sized enterprises segment is projected to exhibit the highest CAGR over the forecast period. Due to high investment cost for production and maintenance of on-premises data centers, the small and medium sized enterprises are adopting cloud based data center, which help to reduce the IT expenses.

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North America data center virtualization market held the dominant position in 2016

On the basis of geography, the data center virtualization market is segmented into North America, Europe, Asia pacific, Latin America, the Middle East, and Africa. North America held the dominant position in the market and is projected to retain its dominance throughout the forecast period. The U.S. and Canada are major growth engines in this region. This is due to increasing digitalization and high adoption of cloud technology in this region.

For instance, according to Coherent Market Insights, it is estimated that in 2015 North America had approximately 51% of the total data centers, globally. In addition to this, presence of key market leaders such as Citrix Systems, Amazon Web Services, Microsoft, and VMware is also another factor driving growth of the market of data center virtualization in this region.

Digital twins is a combination of various technologies such as machine-to-machine connection (M2M), machine learning, artificial intelligence (AI), sensor telemetry, and predictive analytics. Digital twin is used to create digital replicas of physical machines, including their characteristics and activities, depending on the data that is gathered from real-time.

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Development of IoT technology is the major driving factor for growth of the global digital twin market

Increasing utilization of internet of things (IoT) is the major factor expected to boost growth of the global digital twin market. Internet of Things is used to protect and secure network connecting IoT devices to back-end systems on the Internet. IoT technology aids in connecting physical and digital world. It can track an object; collect data, and analyze it and then take required actions. It can also be used to monitor activities of that object along with its progress in a specific time period. Owing to these features, advent of IoT technology has led to increased adoption of smart devices such as smart watch, intelligent traffic lights, and smart buildings among others. For instance, according to IHS Markit  — a database provider — the number of total IoT connected device were about 15.4 billion in 2015 across the globe. According to Coherent Market Insights’ analysis, around 28 million units of wearable devices were sold in 2016.

Additionally, it provides endpoint security such as antivirus and antimalware along with firewalls and interruption prevention and detection systems. IoT security aids in authenticating an IoT device by managing multiple users of a single device platform, for example, a connected car. Moreover, the authentication ranges from simple static password or pins to more robust authentication mechanisms such as two-factor authentication, digital certificates, and biometrics.

According to Coherent Market Insights’ analysis, in 2016, IoT in manufacturing accounted for about US$ 170 billion, and IoT in transportation sector accounted for over US$ 72 billion.

However, high initial cost of implementation, which includes high investment in IoT infrastructure is the major restraining factor for growth of the global digital twin market. In addition to lack of awareness regarding cost benefit of the adoption of digital twins, and lack of skilled workforce and technical knowledge high cost of implementation,  are also expected to restrain the global market growth.

Digital Twin Market Taxonomy:

On the basis of application, the global digital twin market is segmented into:

• Product Design and Development
• Predictive Maintenance
• Machine and Equipment Health Monitoring
• Dynamic Optimization

On the basis of end-user industry, the global digital twin market is segmented into:

• Aerospace and Defense
• Healthcare
• Home and Commercial
• Electronics and Electrical
• Automotive and Transportation
• Energy and Utilities
• Retail and Consumer Goods
• Others (Agriculture and Chemical)

Digital Twin Market: Regional Insights

The global digital twin market is segmented on the basis of regions into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. The market for digital twin in North America accounted for the largest share in 2016. This is attributed to increasing adoption of IoT in a single smart interface of smartphones, PCs, and tablets. According to Coherent Market Insights analysis, in 2015, about 15.4 billion IoT installed base were there, globally. Also, rising cybercrimes is another factor expected to fuel demand for integrated IoT security solutions for application in various sectors such as government, defense, and healthcare. For instance, in May 2017, the WannaCry Ransomware attack affected number of computers from Taiwan to the U.K. and the U.S. Therefore, increasing cyber threat demands IoT security solutions. This is expected to accelerate growth of regional IoT market, which will have a positive impact on the global digital twin market growth.

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Digital Twin Market: Competitive Background

Major players operating in the global digital twin market include General Electric, IBM Corporation, PTC, Inc., Siemens AG, SAP SE, Microsoft Corporation, Alphabet Inc., Dell, Oracle Corporation, Robert Bosch GmbH, and AT&T.

Field survey management market refers to the businesses generated through data collection for gaining insights on different market aspects such as brand management, concept testing, consumer needs, retention, satisfaction surveys, pricing surveys, and service quality. Requirement to gain proper insights on the consumer or business behavior in a specific geographic location to provide competitive edge to companies outsourcing these services is expected to be the prominent factor influencing the growth of the field survey management market.

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Utilizing different data methodologies to target specific consumer or business segments to enable better business insights is expected to propel the growth of field survey management market

Businesses outsource these research operations to reduce the additional efforts and capital required for manpower and the tools for data collection that includes the online websites, computer assisted interviews, etc. Moreover, industry players provide services that include data collection methodologies such as online, mobile, computer assisted personal interviews, computer assisted telephone interviews, and post/ mail, which help companies to gain useful insights on the targeted consumer or business segments. These companies utilize one or multiple methodologies to provide competitive edge to their clients and gain better top line growth, cost savings, revenue generation, and maximize the consumer retention. Due to these factors, businesses are offering services in BFSI, retail, ecommerce, telecommunication, consumer goods, and government agencies.

Data analytics & modelling, social media analysis, and predictive analytics to help clients in better decision making

Analysis of accumulated data and lack of conclusions regarding to research findings may add to the company expense without gaining any competitive intelligence. Thus, most of the vendors in the industry such as Ipsos, Market Equations, and Corp Scan Group provide predictive analytics, media & brand expressions, innovation strategies, strategies for consumer, and employee relationships. This adds to the value of the insights explored through data collection field survey management, which is expected to fuel the growth of market over the forecast period.

Requirement of government agencies to keep track of the nation’s produce, economic activities, population health, and revenue is expected to propel growth of the market. Ease of availing professional services from industry participants for detailed analysis of the required data and significant reduction of cost investment from outsourcing these services are expected to increase the demand for field survey management market over the forecast period.

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According to Coherent Market Insights analysis, North America dominated the global field survey management market in 2017 and it is expected to continue its dominance over the forecast period, owing to widespread presence of multi-national companies headquartered in North America that source these insights for better competitive business intelligence for their operations and expansion in other regions.

Some of the key vendors in the field survey management market include Nielsen Holdings PLC, Kantar TNS, GfK, IRI Consultants, comScore, Inc., IT, Research & Metadata Solutions (IRMS), The Brenett Group, Focu Pointe Global, and Ipsos. According to Coherent Market Insights analysis, information regarding the potential growth opportunities in the emerging economies of Mexico, China, India, Brazil, and Russia in conjunction with the advanced economies of North America and Europe is highly valued. Moreover, companies having resources established in these economies have withheld leading positions in global industry space.

Traffic sensors are used for traffic management, automatic incident detection, and data collection. Traffic sensors provide standard data regarding traffic, speed, and area occupancy, which are helpful to avoid congestion in the large metropolitan areas. Moreover, these sensors helps to accurately measure average flow speed, which helps to distinguish different service levels such as dense, congestion, queue, and fluid. Traffic sensors improves the efficiency and capacity of transportation networks.

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Inductive-loop detectors, video image processors, magnetometers, laser radar sensors, microwave radar sensors, ultrasonic sensors, passive infrared sensors, and passive acoustic sensors are types of traffic sensors. Application of these sensors includes incident detection, traffic signal control, mainline control, and measurement of vehicle volume.

One of the key factors expected to boost the growth of global traffic sensor market is growing traffic volume. Furthermore lack of effective roadways in urban, intercity, and rural areas is major reason for high volume of traffic on road, especially in emerging economies such as India, China, and Brazil. This demands for traffic sensors to manage road traffic by minimizing congestion. Therefore, traffic sensors can be deployed to ensure optimal utilization of existing roadways. For instance, intelligent transportation systems (ITS) aimed to provide traffic analysis, electronic surveillance along with improved safety, and minimizing pollutant emissions. According to Organization Internationale des Constructeurs d’Automobiles or OICA, around 1.28 billion units of vehicles were in use in 2015 worldwide as compared to 1.23 billion vehicles in 2014. Hence, increasing vehicle parc would lead to proportional increase in road traffic. Traffic sensor is a systematic solution for the prevention of this issues.

However, high cost for implementation is major factor expected to restrain the growth of the global traffic sensor market during the forecast period.

Traffic Sensor Market Taxonomy:

On the basis of sensor type, the global traffic sensor market is segmented into:

• Inductive loops
• Infrared sensors
• Piezoelectric sensors
• Magnetic sensors
• Image sensors
• LiDAR sensors
• Thermal sensors
• Radar sensors
• Acoustic sensors
• Bending plates

On the basis of application, the global traffic sensor market is segmented into:

• Traffic monitoring
• Vehicle measurement and profiling
• Weigh in motion
• Automated tolling or e-toll

Traffic Sensor Market: Regional Insights

The global traffic sensor market has been segmented on the basis of regions into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America accounted for the largest share in the global traffic sensor market in 2016. The U.S. is the major growth engine in North America market, owing to increasing initiatives from the U.S. government towards improvement of transportation infrastructure and implementation of intelligent transportation systems (ITS). For instance, the America’s Surface Transportation Act or “FAST Act” was implemented in 2015 to solve road traffic congestion issues, enhance transportation within the country, improve working efficiencies in transportation systems and commercial vehicles, and minimize vehicle emissions.

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Traffic Sensor Market: Competitive Background

Major players operating in the global traffic sensor market include EFKON AG, Kapsch TrafficCom AG, TransCore, International Road Dynamics, Inc., Kistler Group, Flir Systems, Inc., TE Connectivity Ltd., SWARCO AG, Q-Free ASA, SICK AG, Axis Communications AB, Raytheon Company, and Siemens AG.

Airborne surveillance system aims to provide early airborne unusual activities warning. It consists of antenna, airborne data processor, and integrated navigation system, which are featured to provide high accuracy navigation system. These are responsible for tracking and scanning of required target. They receive signal from transmitting radar, analyze the signal and transmit the signal to the receiving radar and provide navigation of the target.

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Major driving factor for the growth of global airborne surveillance market is increasing adoption of unmanned aerial vehicles (UAV) in commercial sector, which has applications in agriculture, government agencies, and other major industries. For instance, according to the Federal Aviation Administration (FAA), around 7 million drones are expected to ship to the U.S. by 2020, which includes sales of around 2.7 million commercial drone by 2020 from 600 thousands in 2016.

These drones are available at affordable price and thus creating an opportunity to actively utilize these drones in commercial application. Increasing concern regarding safety and security along with digitization and advanced technologies used in mapping software and high resolution satellite imagery are prominent factors expected to accelerate the growth opportunity of the commercial drones market, which are expected to consequently fuel global airborne surveillance market growth. Drones are experiencing active adoption by agriculture sector. LiDAR, geographic information system (GIS) and high resolution satellite imagery system are highly being used in agriculture sector for crop health monitoring, production of crop measurement, and checking soil condition. Trimble Navigation Ltd. has a strong hold in the agriculture drones market. This company provides Trimble UX5 HP high-precision mapping solution in the agriculture drone market.

Airborne Surveillance Market: Regional Insights

The global airborne surveillance market has been segmented on the basis of regions into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. The market for North America is expected to account for largest share in the global airborne surveillance market. The U.S. is the prominent source for the regional market growth due to the presence of key players including Boeing, BAE Systems and Raytheon. High defense funding, increased focus on minimal troop casualties, minimum financial loss, and increased focus on the development of advanced airborne systems are key factors to have a positive impact in the U.S. market, which in turn is expected to fuel regional market growth.

In July 2017, the U.S. Navy sent out proposals to four defense contractors to the General Atomics, Boeing, Lockheed Martin, and Northrop Grumman for modulated reconnaissance requirement while enhancing the proposed unmanned aircraft’s aerial tanking duties. UCAVs with long-ranged striking capabilities are incorporated with Command, Control, Communications, Computers, Intelligence, Surveillance, and Reconnaissance (C4ISR) systems into airborne platforms, which are capable of deploying precision-guided munitions, bombs, and missiles. These factors are expected to drive the growth of the market over the forecast period.

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Airborne Surveillance Market: Competitive Background

Major players operating in the global airborne surveillance market include BAE Systems, Boeing, Lockheed Martin Corporation, Raytheon Company, Flir Systems, Israel Aerospace Industries Ltd., L-3 Wescam, Leica Geosystems AG, Leonardo, Northrop Grumman Corporation, and Saab AB