The global handgun market size was valued at USD 3.12 billion in 2022 and is expected to be worth USD 3.41 billion in 2023. The market is projected to reach USD 5.35 billion by 2030, recording a CAGR of 6.6% during the forecast period.
A handgun is a small firearm that can fire a single round or bullet and is majorly used for activities, such as hunting, target shooting, and self-defense. The two of the most commonly used handguns include a semi-automatic pistol and a revolver. Factors, such as rising border conflicts, personal security threats, and growing investments in the defense sector are expected to bolster market growth.
Fortune Business Insights™ displays this information in a report titled, "Handgun Market, 2023-2030."
Russia-Ukraine War Impact:
Strong Growth in Procurement of Weapons Boosts Market Growth Due to Russia-Ukraine War
The ongoing Russia-Ukraine war has created a positive impact on the market forecast as the arms markets in Europe and the U.S. witnessed a strong growth. Many weapon and ammunition manufacturers also saw a major rise in their revenue margins as the demand for their products from both the countries increased considerably. This scenario further accelerated the market progress.
List of Key Companies Profiled In the Report:
- Glock gmbh (Austria)
- SIG SAUER (U.S.)
- Sturm, Ruger & Co., Inc. (U.S.)
- FN HERSTAL (Belgium)
- Ceska zbrojovka a.s. (Czech Republic)
- Israel Weapon Industries (Israel)
- Colt's Manufacturing (U.S.)
- Beretta (Italy)
- Smith & Wesson (U.S.)
- Kalashnikov Group (Russia)
Information Source:
https://www.fortunebusinessinsights.com/handgun-market-108876
Segmentation:
Use of Semi-Automatic Pistols in Personal Security and Hunting & Shooting Sports to Boost Their Demand
Based on type, the market is classified into single-shot handguns (Muzzleloaders), revolvers, and semi-automatic pistols. The semi-automatic pistol segment accounted for the largest handgun market share in 2022 as these pistols are being increasingly used in shooting sports, hunting, and personal security activities.
Demand for Automatic Handguns to Rise Owing to Growing Spending On Defense Sector
Based on operation, the market is classified into automatic, semi-automatic, and manual. The automatic segment held a dominant market share in 2022 as countries across the world are increasing their spending on their defense sector, which has also increased the purchase of advanced weapons.
Modernization of Defense Forces to Boost Product Use in Defense & Homeland Security
Based on end-user, the market is classified into defense & homeland security, self-defense, sports, hunting, and law enforcement. The defense & homeland security segment held the largest market share in 2022 as advanced technologies are being introduced in the defense sector to enhance the warfare capabilities of various countries.
With respect to region, the market covers North America, Europe, Asia Pacific, and the rest of the world.
Report Coverage:
The report has studied the market in depth and covered various crucial areas, such as top product types, end-users, operations, and leading market players. It also offers key insights into the latest market trends and prominent industry developments. Apart from factors mentioned above, the report covers several other factors that have augmented the market’s growth.
Drivers and Restraints:
Introduction of Advanced Tech in Innovative Weapons to Drive Market Growth
Many countries across the world are trying to enhance their military capabilities by investing in advanced technologies to upgrade their current range of weapons and ammunition. Weapons with smart technologies, such as little submachine guns, automatic guns, and light weapons are being adopted on a large scale as they improve the performance of the armed forces during warfare. This factor will drive the handgun market growth.
However, differences in political, legal, and economic frameworks can restrict the adoption of these guns.
Regional Insights:
North America to Dominate Market Due to Increased Investments in Defense Sector
North America is estimated to dominate the global market share as governments across the region are increasing their investments in the defense sector to equip their military personnel with advanced military weapons. Moreover, the number of fire ranges in Canada and the U.S. are increasing, which will further help the regional market grow.
Asia Pacific will also expand at a significant rate in the coming years due to rising terrorist activities and cross-border tensions across the region.
Competitive Landscape:
Leading Companies to Develop Innovative Handguns to Maintain Market Dominance
Some of the key companies operating in this market include SIG SAUER, Glock GmbH, and FN HERSTAL, among many others. These firms are developing advanced handguns to give a major boost to the defense capabilities of various countries. They are also focusing on entering emerging markets, technological improvements, and signing merger & acquisition deals to maintain their dominant position in the market.
Notable Industry Development:
August 2023 - Advanced Weapons and Equipment India Limited (AWEIL), a state-owned company in India, introduced a new long-range revolver named ‘Prabal’. The Prabal has a firing range of up to 50 meters, which is more than double that of other revolvers produced in India.
May 2022 – Colorado-based Biofire Tech introduced a smart gun featuring facial recognition, which will allow only authorized users to use the gun. Biofire’s firearm also claims to have a fingerprint reader to decrease the number of suicides, avoid accidental shooting by kids, make lost & stolen firearms unusable, and restrict the police from confiscating firearms.
According to Fortune Business Insights™, the global aircraft fairing market was valued at USD 1.41 billion in 2020 and is projected to grow from USD 1.46 billion in 2021 to USD 2.60 billion by 2028, exhibiting a CAGR of 8.59% during the forecast period. The market growth is largely driven by the increasing demand for lightweight, aerodynamic components that enhance fuel efficiency, reduce drag, and improve overall aircraft aesthetics.
Market Overview
Aircraft fairings are essential aerodynamic structures designed to streamline the aircraft’s profile by covering gaps, joints, and structural components. Their primary function is to reduce drag, improve fuel efficiency, and enhance the overall performance and aesthetics of an aircraft. By delaying boundary layer separation and minimizing both form drag and interference drag, fairings play a vital role in modern aircraft design.
One of the most common examples is the flap track fairing, a pod-like structure located under an aircraft’s wings. While Boeing and Airbus use flap fairings of similar configurations, McDonnell Douglas aircraft feature unique vertical fairings that house hydraulic actuators. Depending on the design requirements, fairings are typically manufactured using aluminum or advanced composite materials, with composites increasingly preferred due to their lightweight and high-strength properties.
The design and manufacturing of aircraft fairings form a critical phase of aircraft production. Engineers must carefully consider aerodynamic efficiency, weight reduction, and component integration during development. The choice of fairing structure often depends on the aerodynamic advantage sought and the type of components to be enclosed within the fairing.
As global air passenger traffic continues to rise, demand for new aircraft deliveries and fleet modernization programs is expanding. This directly fuels the need for advanced fairing systems that contribute to improved efficiency and reduced operational costs. Consequently, the aircraft fairing market is projected to grow at a significant CAGR over the forecast period, supported by sustained aircraft orders from commercial, regional, and general aviation sectors.
Information Source:
https://www.fortunebusinessinsights.com/aircraft-fairings-market-105857
Segmentation Analysis
By Platform
Commercial Aviation (Dominant Segment)
The commercial segment held the largest share in 2020 and is expected to dominate throughout the forecast period. Growth is supported by rising procurement of modern-generation aircraft that prioritize lightweight structures, fuel efficiency, and passenger comfort. Increasing airline orders from both established carriers and low-cost operators further reinforce this segment’s leadership.
Military Aviation (Fastest-Growing Segment)
The military aviation segment accounted for around 12.3% share in 2020 and is projected to record the highest CAGR. Expansion is driven by increased demand for multi-role combat, transport, and surveillance aircraft, coupled with rising defense budgets in both developed and emerging nations.
Regional & General Aviation
These segments contribute steadily to the market, supported by fleet modernization initiatives and increasing regional connectivity needs.
By Application
Fuselage (Largest Segment)
The fuselage segment dominated the market in 2020 and is expected to maintain its lead with the highest CAGR. Advancements in structural components that reduce weight while improving efficiency are key growth factors. Fuselage fairings also play a vital role in protecting essential systems and enhancing aerodynamic stability.
Engine Fairings
Engine fairings are integral to improving airflow and shielding critical powerplant components. Demand is increasing with the rise in new-generation aircraft programs.
Landing Gear (Emerging Segment)
The landing gear fairing segment is witnessing strong growth due to the shift toward lightweight yet durable designs. Manufacturers are focusing on materials and configurations that ensure safety, performance, and cost efficiency without compromising on maintenance standards.
Control Surfaces, Radars & Antennas
These segments hold smaller shares but are gaining traction as aircraft designs increasingly integrate advanced systems requiring aerodynamic coverings.
By Material
Composite (Dominant Segment)
The composite segment led the market in 2020 and is expected to expand rapidly during the forecast period. Composites offer superior strength-to-weight ratios, corrosion resistance, and aerodynamic efficiency, making them the preferred choice for modern aircraft fairings. OEMs and suppliers derive a significant portion of revenue from composite components.
Aluminum (Declining Segment)
Aluminum fairings are witnessing slower demand due to their higher operational and maintenance costs compared to composites. Their relevance is largely limited to older aircraft models and cost-sensitive operators.
Alloys
Alloy-based fairings continue to play a role in specific aircraft designs but are gradually being replaced by advanced composites in new-generation platforms.
Market Dynamics
Drivers
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Rising Adoption of Composite Aerostructures – Lightweight composites reduce overall aircraft weight, improve fuel efficiency, and enable advanced designs.
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Increasing Air Passenger Traffic – Steady growth in global travel boosts demand for modern aircraft with aerodynamic enhancements.
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Fleet Modernization & Regional Aircraft Demand – Rising demand for short-haul and regional jets is fueling the adoption of fairings that optimize lift-to-drag ratios.
Restraints
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Aircraft Production Backlogs – Delays in aircraft deliveries due to production bottlenecks may temporarily affect fairing demand.
Regional Insights
North America (Largest Market)
North America accounted for USD 540.0 million in 2020 , representing the largest market share. Growth in this region is driven by the presence of major OEMs and suppliers such as Boeing and Malibu Aerospace, along with strong demand from leading airlines and cargo operators including Delta, American Airlines, FedEx, and UPS. Additionally, the region benefits from extensive assembly lines for aircraft of all sizes and applications, reinforcing its dominance in the global market.
Europe (Steady Growth)
Europe is projected to grow at a moderate pace during the forecast period. The region’s strength comes from leading OEMs and aerospace players such as Airbus, Leonardo S.p.A., and Saab AB, who hold a significant share in the aerostructure market. Ongoing innovation and investment in lightweight materials are expected to sustain growth in the European market.
Asia Pacific (Fastest-Growing Region)
Asia Pacific is anticipated to register the fastest growth, supported by rapidly expanding aviation markets in China, Japan, and India . The Indian aviation industry, in particular, is experiencing accelerated commercial aircraft procurement, fueling demand for fairings and related aerostructures. Rising passenger traffic and government-backed aerospace programs make Asia Pacific a critical growth hub.
Middle East & Africa (Emerging Opportunities)
The Middle East and Africa region is set to grow substantially due to the increasing demand for general aviation and commercial aircraft, particularly supported by rising tourism. The presence of Strata Manufacturing in the UAE adds to the region’s competitiveness, enabling stronger production capabilities for advanced aerostructures.
Competitive Landscape
The aircraft fairing market is moderately consolidated, with leading companies focusing on R&D, automation, and material innovation. Key strategies include long-term contracts, regional expansion, and partnerships to strengthen supply chains and customer reach.
Key Players Include:
- Malibu Aerospace (U.S.)
- FACC AG (Austria)
- Daher (France)
- NORDAM (U.S.)
- Airbus (France)
- Boeing (U.S.)
- Avcorp (Canada)
- Barnes Group (U.S.)
- Royal Engineered Composites (U.S.)
- Fiber Dynamics Inc. (U.S.)
- FDC Composites (Canada)
- Kaman Aero systems (U.S.)
- SAAB AB (Sweden)
- Lockheed Martin (U.S.)
- Shin Maywa (Japan)
- Strata Manufacturing (UAE)
Report Coverage
The Aircraft Fairing Market report provides:
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Detailed segmentation by platform, application, material, and region
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Insights into key drivers, restraints, and opportunities
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Profiles of leading players in the global market
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Historical data and reliable market forecasts up to 2028
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Analysis of strategic developments including expansions, product launches, and innovations
Key Industry Developments
In December 2021 , Airbus announced the successful completion of the final structural assembly of its first A321XLR test aircraft . The milestone included the integration of critical components such as the engines, landing gear retraction mechanism, and door fairings. Following this stage, the aircraft underwent comprehensive quality inspections as part of Airbus’ rigorous testing program. This development marked a significant step forward in the company’s efforts to deliver long-range, fuel-efficient narrow-body aircraft to the market.
According to Fortune Business Insights™, the global body armor market size was valued at USD 6.72 billion in 2024 and is projected to grow from USD 7.60 billion in 2025 to USD 14.42 billion by 2032, exhibiting a CAGR of 9.6% during the forecast period. The rising emphasis on soldier safety, modernization programs, and demand for advanced lightweight armor solutions are fueling market expansion.
Market Overview
Body armor serves as an essential line of defense for military personnel, law enforcement officers, and civilians, providing protection against ballistic threats such as bullets, shrapnel, and explosive fragments. Recent advancements in material science and ergonomic design have significantly improved both the protection level and mobility of armor systems.
Global demand is being driven by heightened security threats, increased terrorist activities, and government investments in modernizing military equipment. Lightweight, modular, and scalable designs are gaining traction, as they enable adaptability to diverse operational environments.
Competitive Landscape
The market is highly competitive, with leading multinational defense corporations and specialized protection equipment manufacturers competing for contracts and market share. Companies are focusing on R&D investments, product innovation, and strategic partnerships to maintain their positions.
Key Players Profiled:
- 3M (U.S.)
- ArmorSource LLC (U.S.)
- BAE Systems (U.K.)
- DuPont (U.S.)
- Eagle Industries (U.S.)
- Gentex Corporation (U.S.)
- Honeywell International Inc. (U.S.)
- Armor Express (U.S.)
- Point Blank Enterprises Inc. (U.S.)
- Revision Military (U.S.)
These companies leverage government contracts, advanced defense technology integration, and global distribution networks to strengthen market dominance.
Information Source:
https://www.fortunebusinessinsights.com/body-armor-market-113318
Segmentation Analysis
By Application
The army segment currently dominates the market and is projected to record the highest CAGR, driven by the increasing demand for advanced protection systems to safeguard soldiers in conflict zones. This growth is further fueled by ongoing geopolitical tensions and modernization initiatives, such as the U.S. Army’s Modular Scalable Vest (MSV) Gen-II program, which highlights the shift toward adaptable armor solutions. The air force segment is expected to witness steady growth, supported by the requirement for lightweight, compact armor that integrates seamlessly with flight gear while offering shrapnel and ballistic protection. The rising adoption of smart armor systems is also boosting this segment. The navy segment, while holding a smaller market share, is anticipated to grow steadily due to the demand for maritime-specific armor systems capable of withstanding harsh environmental conditions.
By Material
Bulletproof military vests account for the largest market share, supported by continuous innovations in materials such as Kevlar, Dyneema, and UHMWPE fabrics that deliver high ballistic resistance without compromising flexibility. Full body tactical armor is expected to post the fastest CAGR, driven by the rising threat from high-caliber weapons and explosive devices, which is prompting the need for comprehensive body coverage. The “others” category includes soft armor, hard armor, and concealed vests tailored for specific operational requirements, offering versatility for diverse mission needs.
Market Dynamics
Drivers
Military Modernization Programs – Governments worldwide are prioritizing the modernization of soldier protection systems, incorporating advanced materials and hybrid armor designs to improve combat survivability.
Technological Advancements – The adoption of graphene composites, ceramic plates, and smart textiles is significantly boosting ballistic performance while enhancing wearer comfort and situational awareness.
Restraints
High Manufacturing Costs – The use of high-performance materials and adherence to stringent regulatory standards drive up production costs, creating adoption barriers in budget-constrained regions.
Opportunities
Civilian Market Expansion – Rising concerns over personal safety, coupled with demand from private security firms, are fueling interest in modular and concealable armor, opening new avenues beyond the defense sector.
Regional Insights
North America – North America remains the largest market, driven primarily by the United States, which allocated USD 842 billion in defense spending for FY2024. Programs such as the Soldier Protection System continue to fuel demand for next-generation body armor with enhanced mobility, protection, and modularity.
Europe – Europe represents the second-largest market, supported by NATO-led modernization initiatives and substantial government investments in lightweight, modular armor systems for both military and law enforcement use.
Asia Pacific – Asia Pacific is projected to witness the fastest growth rate during the forecast period, propelled by rising defense budgets in China and India. The region is also seeing increased civilian adoption of personal protection solutions amid urban security concerns.
Rest of the World – Growth across Latin America and the Middle East & Africa is being driven by escalating crime rates, cross-border security challenges, and persistent regional conflicts, boosting demand for both military-grade and private security armor solutions.
Recent Industry Developments
August 2024 – British Military Unveils Next-Generation Body Armor
The British Armed Forces introduced an advanced body armor system designed to counter modern warfare threats, including drones and laser detection. The upgraded kit enhances soldier protection while improving situational awareness and decision-making capabilities on the battlefield.
X-Ray Photoelectron Spectroscopy Market Analysis, Share, Trends, Forecast, 2025–2032
By Rishika19, 2025-08-14
According to Fortune Business Insights™, the global X-ray Photoelectron Spectroscopy Market size was valued at USD 1.49 billion in 2024 and is projected to grow from USD 1.83 billion in 2025 to USD 6.34 billion by 2032, exhibiting a CAGR of 19.44% during the forecast period.
X-ray Photoelectron Spectroscopy (XPS), also known as Electron Spectroscopy for Chemical Analysis (ESCA), is a surface-sensitive analytical technique used to determine the elemental composition and chemical states of material surfaces. Its unmatched precision in analyzing the outermost atomic layers has positioned it as a vital tool across industries including healthcare, manufacturing, oil & gas, and food safety.
The market is witnessing rapid expansion driven by advancements in high-performance material development, stricter safety regulations, and the integration of artificial intelligence (AI) with hybrid imaging technologies.
Market Segmentation
By End-User
Food & Beverages – This segment leads the global X-ray Photoelectron Spectroscopy market and is projected to grow at the highest CAGR. Growth is fueled by stringent food safety regulations and the increasing demand for non-destructive quality control inspection systems that ensure product integrity without compromising product quality.
Healthcare – Expected to witness steady growth, driven by the use of XPS in medical device biocompatibility testing, drug delivery system analysis, and advanced biomedical research, all of which require high-precision surface characterization.
Others – Includes agriculture, manufacturing, oil & gas, and chemical industries, where XPS is widely applied for accurate surface characterization, material verification, and quality assurance processes.
By Component
Hardware – Holds the largest market share due to advancements in detector technology, compact system designs, and the rising adoption of portable X-ray devices for on-site applications in various industries.
Software – Anticipated to expand steadily as AI-powered, user-friendly interfaces make complex analysis more efficient, enabling faster and more accurate interpretation of XPS data for both research and industrial applications.
Information Spource:
https://www.fortunebusinessinsights.com/x-ray-photoelectron-spectroscopy-market-113298
Market Dynamics
Market Drivers: The rising demand for high-performance materials is significantly boosting the adoption of X-ray Photoelectron Spectroscopy, with growing R&D in electronics, energy storage, and nanomaterials driving market growth. Additionally, technological integration, particularly the use of AI and hybrid imaging systems, is enhancing accuracy, efficiency, and the overall scope of applications for XPS.
Market Restraints: Regulatory compliance challenges remain a key barrier, as stringent directives such as EU 2013/59/Euratom increase operational costs and slow market entry for new players. These regulations add complexity to manufacturing and usage, particularly for companies entering heavily regulated markets.
Market Opportunities: AI-powered analysis is opening new possibilities, with machine learning-based interpretation tools reducing analysis time and improving diagnostic precision. Moreover, the integration of XPS with CT and MRI systems is creating hybrid imaging techniques that provide deeper material and biological insights, expanding the technology’s value in research and clinical applications.
Market Trends: Miniaturization of XPS instruments is enabling portable and in-field use, while in-situ analysis is making it possible to monitor surface reactions in real time. Furthermore, spatially resolved XPS is providing more advanced insights for complex material research, especially in semiconductor and nanotechnology applications.
Market Challenges: High equipment and maintenance costs continue to limit adoption, especially in smaller research facilities and developing markets. The need for specialized technical expertise further adds to operational complexity. In addition, competition from alternative surface analysis methods, such as SIMS and AFM, poses a challenge to XPS adoption in certain applications.
Regional Insights
North America – North America leads the global X-ray Photoelectron Spectroscopy market, generating USD 1.01 billion in 2024 . Growth is driven by a strong healthcare infrastructure, high prevalence of chronic diseases such as cancer, and significant adoption of advanced analytical technologies in medical research and diagnostics. Robust R&D investments from both public and private sectors, particularly in the manufacturing, semiconductor, and biotechnology industries, further support market expansion. Additionally, the region benefits from the presence of leading market players and cutting-edge research institutions, which continuously contribute to technological advancements in XPS.
Europe – Europe holds the second-largest share of the market, supported by substantial government funding for scientific research and technological development. The region’s strong focus on material science, renewable energy, and pharmaceutical innovation drives XPS adoption. Countries such as Germany, the U.K., and France are home to major manufacturers and research centers, fostering a competitive and innovation-driven market landscape. Furthermore, strict quality and safety regulations in the food, healthcare, and manufacturing sectors create sustained demand for advanced surface analysis technologies like XPS.
Asia Pacific – Asia Pacific is projected to witness the fastest CAGR during the forecast period, driven by rapid industrialization, expanding manufacturing bases, and increasing investments in healthcare and biotechnology. China and India, in particular, are emerging as high-growth markets due to rising adoption of XPS in quality control, semiconductor manufacturing, and materials research. The growth is further supported by government initiatives promoting technological advancements, as well as the rising number of research facilities and academic institutions adopting advanced spectroscopy tools.
Rest of the World – The market in the Rest of the World is expected to experience steady growth, supported by increasing numbers of research institutes, academic collaborations, and industrial applications. Regions such as Latin America and the Middle East are investing in technology upgrades across industries including oil & gas, mining, and environmental monitoring. While adoption rates are currently lower than in other regions, the gradual expansion of scientific infrastructure and access to advanced analytical equipment is expected to contribute to future market growth.
Competitive Landscape
The XPS market is characterized by innovation, system integration, and AI-driven analysis tools. Key players are focusing on product miniaturization, hybrid technologies, and field-portable systems to meet expanding industry requirements.
Key Players:
Bruker (U.S.)
HORIBA Scientific (Japan)
Thermo Fisher Scientific (U.S.)
SPECTRO Analytical (Germany)
Shimadzu Corporation (Japan)
Amptek (U.S.)
Kratos Analytical (U.K.)
Excillum (Sweden)
EasyXAFS (U.S.)
Fluxana GmbH & Co. KG (Germany)
Recent Developments
October 2024 – Tonix Pharmaceuticals & X-Chem AI/ML Collaboration
Tonix Pharmaceuticals Holding Corp., a fully integrated biopharmaceutical company with an active portfolio of marketed products and development-stage candidates, announced a strategic research collaboration with X-Chem, Inc., a leader in small molecule drug discovery. The partnership leverages X-Chem’s advanced artificial intelligence (AI) and machine learning (ML) capabilities to accelerate the discovery and development of Tonix’s oral broad-spectrum antiviral drugs. This initiative aims to streamline candidate identification, optimize molecular design, and enhance the efficiency of preclinical development—ultimately shortening the timeline for bringing novel antiviral therapies to market.
Space Debris Monitoring and Removal Market Trends, Size, Growth, Analysis and Forecast, 2022–2029
By Rishika19, 2025-08-13
According to recent market analysis, the global space debris monitoring and removal market was valued at USD 866.4 million in 2021 and is expected to grow from USD 942.3 million in 2022 to USD 1,527.7 million by 2029, registering a CAGR of 7.15% during the forecast period. North America held the largest share, accounting for 31% of the market in 2021, driven by advanced space surveillance infrastructure and strong government initiatives to mitigate orbital debris risks.
This information is provided by Fortune Business Insights, in its report titled, “Space Debris Monitoring and Removal Market, 2022-2029.”
List of Key Players Mentioned in the Report:
- Airbus S.A.S (Netherlands)
- Astroscale (Netherlands)
- ClearSpace (Switzerland)
- Electro Optic Systems (Australia)
- Lockheed Martin Corporation (U.S.)
- Northrop Grumman Corporation (U.S.)
- Orbit Guardians (U.S.)
- Obruta (Canada)
- Share my space (France)
- Voyager Space Holdings Inc. (U.S.)
Information Source:
https://www.fortunebusinessinsights.com/space-debris-monitoring-and-removal-market-104070
Segments:
Space Debris Removal Segment to Grow at a Greater CAGR Due to Rising Debris Removal Missions by Numerous Space Agencies
Based on application, the market is bifurcated into space debris monitoring and space debris removal. The space debris removal segment is anticipated to show significant growth during the forecast period due to rising development of initiatives by space agencies for the removal of space debris.
1mm to 1cm Debris Size Segment to Dominate Market Owing to Surge in Space Debris
Based on debris size range, the market is segmented into 1mm to 1cm debris size, 1cm to 10cm debris size, and greater than 10cm. The 1mm to 1cm debris size segment dominated the market in 2020 owing to an upsurge in rocket bodies and minor fragments from satellite launches across the world.
Increase in Space Presentations in Low Earth Orbit (LEO) Orbit May Spur Growth of the Segment
Based on orbit type, the market is divided into Low Earth Orbit (LEO) and Geostationary Earth Orbit (GEO). The Low Earth Orbit (LEO) segment is projected to grow at a higher CAGR during the forecast period.
Commercial Segment to be a Quicker Growing Segment and Boosts Market Growth
Based on end use, the market is divided into commercial and defense.
The commercial segment is projected to grow at a higher CAGR during the forecast period due to rising number of private companies in space debris monitoring and removal from the Earth’s orbit.
The global market is segmented based on region into North America, Europe, Asia Pacific, and the Rest of the World.
Report Coverage:
The report presents a systematic study of the market segments and thorough analysis of the market overview. A thoughtful evaluation of the current market trends as well as future opportunities is offered in the report. Moreover, it presents an exhaustive analysis of the regional insights and how they help to form the space debris monitoring and removal market growth.
Drivers and Restraints:
Growing Number of Satellite Launches and Space Exploration Activities to Augment Demand
The abrupt increase in demand for network and communication and network-based services across the world has empowered space launches over the past few years. The Starlink program presented by SpaceX gained sanction from the U.S. Federal Communication Commission (FCC) to unveil a 12000 startling small satellite for the internet constellation. However, the company is commencing to organize a spectrum to add a 30000 startling satellite in future.
Regional Insights:
North America to Lead Backed by Presence of Leading Players
North America is projected to hold the biggest space debris monitoring and removal market share and was valued at USD 268.6 million in 2021. It is predicted to continue its domination during the forecast period, 2022-2029. The U.S. has the biggest space-based companies in comparison with any European and Asian nations.
The European market is estimated to develop at a substantial growth rate during the forecast period. The existence of the European Space Agency (ESA) and additional space-based establishments plays an important role in the space debris monitoring and removal activity from the orbit.
Asia Pacific is projected to make progress at a colossal CAGR during the forecast period. The growth can be credited to the growing demand for space situational consciousness abilities from China, India, and Japan.
Competitive Landscape:
Key Players Sign Significant Contracts to Make Remarkable Changes in the Market
The players operating in the market often employ numerous tactics that will aid the market growth and product demand. Among the pool of strategies, one such notable strategy to expand the business prospect is signing multimillion contracts with government bodies and securing a profitable revenue for their own company.
Key Industry Development:
January 2022: Northrop Grumman Corporation signed a contract with the U.S. Space Force to create a radar to track active satellites and debris in high orbits. The agreement is worth USD 341 million. Northrop's radar will be situated in the Indo-Pacific region and will be among the three intended ground-based radar locations for the DARC program. The corporation has plans until September 2025 to develop a radar prototype.
According to Fortune Business Insights™, the global anti-tank guided missiles market is on a steady growth trajectory, with valuations climbing from USD 388.2 million in 2025 to an estimated USD 535.2 million by 2032, reflecting a 4.7% CAGR.
The sector, anchored in the development and deployment of precision missile systems designed to neutralize armored threats, is riding a wave of defense spending hikes, battlefield modernization, and AI-powered targeting innovations. These weapons ranging from man-portable launchers to airborne long-range strike systems are a central pillar in modern military strategies worldwide.
“ATGMs are no longer just tank killers they are multi-role, networked assets integrated into the wider digital battlefield,” said a defense analyst familiar with NATO procurement programs.
Drivers: Modernization Meets Geopolitical Urgency
Defense ministries across the globe are prioritizing upgrades to their armored and infantry capabilities, especially in conflict-sensitive regions. The U.S., Europe, and parts of Asia are accelerating procurement programs to deploy next-generation ATGMs with enhanced accuracy, longer ranges, and resilience against countermeasures.
The integration of artificial intelligence, fire-and-forget technology, and sensor fusion is transforming engagement speed and precision. These systems are increasingly designed to connect with drones, command centers, and battlefield management platforms for coordinated strikes.
Restraints and Challenges
A key challenge lies in the rapid evolution of countermeasure technologies, such as Active Protection Systems (APS), which can intercept and destroy incoming missiles. This forces ATGM manufacturers to constantly innovate — a costly and time-intensive process.
Budgetary pressures also limit adoption in emerging economies. Cutting-edge systems can strain procurement budgets, particularly for smaller nations balancing multiple defense priorities.
Information Source:
https://www.fortunebusinessinsights.com/anti-tank-guided-missiles-atgm-market-113588
Trends: Portable Systems Take the Lead
Man-portable ATGMs accounted for 46.89% of market share in 2024, offering frontline units a lightweight, cost-effective, and highly mobile solution. Systems like the U.S.-made Javelin and the U.K.-Swedish NLAW have shown battlefield success in recent conflicts.
Meanwhile, airborne ATGMs are emerging as the fastest-growing segment (5.2% CAGR), providing rapid deployment and safe standoff engagement from helicopters and UAVs.
Regional Outlook
North America remains the innovation hub, with Lockheed Martin and Raytheon spearheading advanced designs.
Europe is ramping up procurement under NATO modernization initiatives, with MBDA and Rheinmetall at the forefront.
Asia-Pacific is the fastest-growing region, led by India, China, and South Korea, driven by border tensions and regional security concerns.
Middle East & Africa are increasing procurement of cost-effective systems to strengthen internal and regional defense capabilities.
KEY INDUSTRY PLAYERS
Key Players Focus on Technological Advancements to Propel Market Growth
According to Fortune Business Insights™ , the global anti-tank guided missiles (ATGM) market is led by prominent companies such as MBDA, Rafael Advanced Defense Systems, and Lockheed Martin, which continue to push the boundaries of innovation and technological advancement. Other significant players, including Kongsberg Defense & Aerospace, Northrop Grumman, and Denel Dynamics, are also making strides in delivering advanced missile systems tailored to evolving defense requirements.
These market leaders are heavily investing in the development of lightweight, highly accurate, and versatile ATGMs that can neutralize modern armored threats. The competitive landscape is shaped by rising defense budgets, technological breakthroughs, and the growing need for enhanced battlefield survivability, positioning these players at the forefront of the industry.
List of Key Anti-Tank Guided Missile Companies Profiled
Raytheon Technologies Corporation (U.S.)
Lockheed Martin Corporation (U.S.)
MBDA (France)
Rafael Advanced Defense Systems Ltd. (Israel)
KBP Instrument Design Bureau (Russia)
Norinco (China)
Roketsan (Turkey)
Saab AB (Sweden)
LIG Nex 1 (South Korea)
Bharat Dynamics Ltd. (India)
NPO Mashinostroyeniya (Russia)
Denel Dynamics (South Africa)
Mesko (Poland)
Aselsan (Turkey)
BAE Systems plc (U.K.)
Recent Developments
In March 2025 , India’s Ministry of Defence signed contracts with Armoured Vehicles Nigam Limited for the tracked Nag Missile System, while also securing deals with Force Motors and Mahindra & Mahindra for 5,000 light vehicles for military use — signaling the country’s growing focus on indigenous defense production.
Advanced Air Mobility Market Growth, Insights, Size, Share, Forecast, 2025–2032
By Rishika19, 2025-08-13
According to Fortune Business Insights™, the global advanced air mobility market size was valued at USD 11.41 billion in 2024 and is projected to grow from USD 13.27 billion in 2025 to USD 65.91 billion by 2032, exhibiting a robust CAGR of 25.7% during the forecast period.
Advanced Air Mobility is set to transform the future of transportation by introducing innovative aircraft designs, electric propulsion systems, and advanced air traffic management solutions into existing airspace. This technology encompasses Urban Air Mobility (UAM) for intra-city transport, Regional Air Mobility (RAM) for inter-city connectivity, and specialized cargo delivery services, all aimed at enhancing speed, safety, and sustainability in transportation networks.
Key Industry Players
- Airbus S.A.S. (France)
- Aurora Flight Sciences (U.S.)
- Bell Textron Inc. (U.S.)
- The Boeing Company (U.S.)
- Guangzhou EHang Intelligent Technology Co., Ltd. (China)
- Embraer S.A. (Brazil)
- Joby Aviation (U.S.)
- Lilium GmbH (Germany)
- Neva Aerospace (U.K.)
- Opener, Inc. (U.S.)
Information Source:
https://www.fortunebusinessinsights.com/advanced-air-mobility-market-113574
Market Dynamics
Drivers
Technological Advancements in Electric Propulsion & Autonomous Flight
Improvements in battery energy density, charging efficiency, and safety are making electric vertical takeoff and landing (eVTOL) aircraft increasingly viable. Autonomous flight systems, powered by artificial intelligence, advanced sensors, and control algorithms, are enabling safer operations, reducing pilot dependency, and lowering operational costs.
Growing Urban Congestion
Rising traffic congestion in global cities is driving demand for faster and more efficient transport alternatives. AAM leverages vertical air corridors to bypass road congestion, significantly cutting travel times while offering an environmentally friendly transportation option.
Restraints
Regulatory and Certification Challenges
Complex certification processes from aviation authorities such as the FAA and EASA require extensive testing and compliance with evolving safety regulations. These hurdles can delay commercialization and increase development costs for AAM solutions.
Opportunities
Leveraging Existing Aviation Infrastructure
Utilizing regional airports and general aviation facilities as operational hubs can significantly reduce capital investment requirements, streamline regulatory approvals, and speed up deployment timelines for AAM services.
Challenges
Safety, Noise, and Privacy Concerns
Public acceptance depends on addressing concerns about operational safety, noise pollution from rotor systems, and privacy issues linked to aerial surveillance. Transparent communication, quieter technologies, and robust safety measures will be essential for building trust and ensuring adoption.
Key Trends
Rise of Regional Air Mobility (RAM)
While UAM dominates media attention, RAM is gaining traction by connecting smaller cities and rural areas, improving regional connectivity, and utilizing hybrid-electric and hydrogen propulsion systems for longer ranges.
Segmentation Overview
By Component
Hardware dominated the market in 2024, driven by strong demand for electric motors, batteries, sensors, and airframes, which are essential for the development and operation of eVTOL and other AAM platforms. The software segment is projected to grow the fastest, supported by the integration of artificial intelligence and automation technologies to ensure safe, efficient, and increasingly autonomous flight operations.
By Product
Rotary blade aircraft led the market in 2024 due to their vertical takeoff and landing (VTOL) capabilities and operational flexibility, enabling operations in space-constrained urban environments. The hybrid product segment is expected to witness the fastest growth, combining the efficiency of fixed-wing designs with VTOL functionality to achieve extended range and higher payload capacity.
By Propulsion Type
Electric propulsion accounted for the largest share in 2024, favored for its sustainability, lower operating costs, and reduced noise emissions. Hybrid propulsion is anticipated to record the highest CAGR through 2032 by leveraging both electric motors and auxiliary power sources to improve performance over longer distances.
By Application
Cargo transport dominated the market in 2024, fueled by the rapid growth of e-commerce and increasing demand for fast, direct delivery services. The surveillance and monitoring segment is projected to expand the fastest, driven by applications in security, search and rescue, and infrastructure inspection, particularly in hard-to-reach areas.
By End-Use
The commercial segment led the market in 2024, supported by rising adoption of aerial delivery and passenger transport solutions. The government and military segment is poised for strong growth, benefiting from applications in emergency response, disaster relief, and national security operations.
Regional Insights
North America (USD 3.92 Billion in 2024): Leads global AAM innovation, with the U.S. as a hub for eVTOL development, regulatory progress, and infrastructure planning.
Asia Pacific : China, Japan, and South Korea driving growth through government-backed initiatives and rapid urbanization.
Europe : Strong sustainability focus with Germany, France, and the U.K. leading regulatory and R&D efforts.
Rest of the World : UAE and Brazil exploring AAM for air taxi and regional connectivity solutions.
Competitive Landscape
The market features both aerospace giants and agile startups. Airbus , Boeing , and Bell Textron are investing in AAM programs, while Embraer’s Eve is advancing eVTOL designs. Pure-play innovators like Joby Aviation and Aurora Flight Sciences are pushing commercial air taxi readiness.
Key Industry Developments
May 2025 – Wisk Aero Partnership with NASA
Wisk Aero, a leading advanced air mobility (AAM) company known for developing the first U.S. all-electric, self-flying air taxi, announced a new five-year partnership with NASA under a Non-Reimbursable Space Act Agreement (NRSAA). This collaboration supports NASA’s Air Traffic Management Exploration (ATM-X) project, focusing on critical research to enable autonomous aircraft operations under Instrument Flight Rules (IFR) within the National Airspace System (NAS).
January 2025 – Tata Elxsi and CSIR-NAL Collaboration
Tata Elxsi, an Indian technology company, entered into a Memorandum of Understanding (MoU) with the Council of Scientific and Industrial Research – National Aerospace Laboratories (CSIR-NAL) to advance innovations in the AAM sector. The partnership aims to drive developments in Unmanned Aerial Vehicles (UAVs), Urban Air Mobility (UAM), and electric vertical takeoff and landing (eVTOL) aircraft, leveraging both organizations’ expertise in engineering and aerospace research.
Raman Spectroscopy Market Size, Growth, Forecast, Share, and Trends, 2025–2032
By Rishika19, 2025-08-12
According to Fortune Business Insights™, the global Raman spectroscopy market size was valued at USD 2.94 billion in 2024. The market is projected to grow significantly from USD 3.66 billion in 2025 to USD 14.74 billion by 2032, exhibiting a robust CAGR of 22.01% during the forecast period.
What is Raman Spectroscopy?
Raman spectroscopy is a non-destructive analytical technique that uses laser light to examine molecular vibrations and chemical compositions. Its ability to provide precise, label-free analysis of samples in their natural state has accelerated its adoption across diverse sectors including pharmaceuticals, biotechnology, materials science, environmental testing, and forensic science. This technology is especially valued for its speed, accuracy, and minimal sample preparation requirements.
Market Overview and Key Drivers
Pharmaceutical Sector Fuels Market Growth
One of the primary drivers of Raman spectroscopy market growth is its expanding application in the pharmaceutical industry. The technology is extensively used for drug identification, polymorph screening, counterfeit detection, and quality control, where non-destructive and high-resolution analysis is critical. Increasing emphasis on precision medicine, drug development, and regulatory compliance further fuels demand.
Non-Invasive Healthcare Applications
Healthcare stands out as a key end-user segment due to Raman spectroscopy’s ability to offer non-invasive diagnostic insights. It helps in early disease detection—such as cancers and infectious diseases including COVID-19—by analyzing biochemical compositions at the molecular level. Advancements like integrating nanoparticles and AI-enhanced spectral analysis are improving the sensitivity and accuracy of diagnostics, driving adoption in clinical research and biomedical fields.
Food & Beverage Industry Utilization
The food and beverages segment is witnessing steady growth, supported by Raman spectroscopy’s capacity for rapid, non-destructive quality testing. It aids in contamination detection, spoilage assessment, and product composition verification, ensuring consumer safety and regulatory compliance without damaging samples.
Market Restraints
Despite rapid growth, the market faces challenges such as:
High Instrument Costs: Advanced Raman spectrometers with superior signal-to-noise ratios are expensive and less accessible, especially for small labs and developing regions.
Skilled Personnel Shortage: Operation and interpretation require trained professionals, limiting adoption in areas with insufficient technical expertise.
Information Source:
https://www.fortunebusinessinsights.com/raman-spectroscopy-market-113033
Market Segmentation
By End-User:
The healthcare segment holds the leading position in the Raman spectroscopy market, driven by its expanding role in non-invasive diagnostics and biomedical research. Raman spectroscopy’s ability to analyze biological tissues and fluids without damaging samples makes it indispensable for early disease detection, including cancers, cardiovascular conditions, and infectious diseases like COVID-19. The technique’s growing integration with nanoparticles and machine learning further enhances diagnostic accuracy and sensitivity, supporting personalized medicine initiatives. In parallel, the food and beverages industry is experiencing steady growth due to the technology’s rapid and non-destructive testing capabilities. It allows for real-time monitoring of food quality, detection of contaminants, spoilage assessment, and verification of ingredient authenticity, which are crucial for consumer safety and regulatory compliance. Beyond healthcare and food sectors, industries such as agriculture, manufacturing, oil and gas, and chemical processing are increasingly utilizing Raman spectroscopy for applications like soil analysis, material characterization, process monitoring, and contaminant detection. This widespread adoption underscores the technology’s versatility and growing importance across diverse industrial verticals.
By Component:
The hardware segment dominated the market in 2024, supported by continuous technological advancements that improve instrument sensitivity, resolution, and portability. Innovations such as high-resolution optics, advanced detectors including charge-coupled devices (CCDs), and miniaturized components have made Raman spectrometers more precise and adaptable to various analytical challenges. These hardware improvements enable the detection of weak Raman signals and broaden the scope of sample types, including complex biological and environmental specimens. Concurrently, the software segment is rapidly gaining ground as sophisticated data analysis tools powered by artificial intelligence (AI) and machine learning (ML) are integrated with Raman systems. These software solutions automate spectral interpretation, enhance pattern recognition, and reduce human error, thereby accelerating research workflows and improving decision-making. Platforms like LabSpec6 and others are providing users with enhanced capabilities to manage large datasets, perform multivariate analysis, and generate actionable insights, significantly increasing the overall value and usability of Raman spectroscopy systems.
Regional Insights
North America
North America dominated the market in 2024 with a 34.35% share , generating revenues of approximately USD 1.01 billion . The region’s dominance is supported by a strong research ecosystem, government funding, advanced pharmaceutical sector, and presence of key players like Thermo Fisher Scientific and Bruker.
Europe
Europe holds the second-largest market share, driven by investments in life sciences, environmental research, and technological infrastructure in countries such as Germany, the U.K., and France.
Asia Pacific
The Asia Pacific is the fastest-growing market, fueled by increasing pharmaceutical manufacturing, biotechnology investments, and rising adoption in research institutions across China, India, and Southeast Asia.
Rest of the World
Regions including Latin America, the Middle East, and Africa show gradual growth due to expanding research activities and rising awareness about advanced analytical techniques.
Key Industry Players
Thermo Fisher Scientific (U.S.)
Bruker (U.S.)
Anton Paar (Austria)
B&W Tek (U.S.)
Agilent Technologies (U.S.)
Horiba Scientific (U.S.)
Renishaw PLC (U.K.)
Perkin Elmer (U.S.)
Metrohm (Switzerland)
These companies focus on continuous R&D, product innovation, and strategic collaborations to strengthen their market positions.
Recent Developments
October 2024: Researchers at the Institute for Photon Science and Technology, University of Tokyo, developed a breakthrough method that increases the speed of Raman spectroscopy by 100 times. This advancement significantly enhances the ability to capture the unique vibrational “fingerprint” of atoms, allowing for faster and more precise molecular identification in real time.
