The global hyperspectral imaging market size was valued at USD 96.5 million in 2017 and is expected to grow at a CAGR of 3.8% from 2017 to 2025. Rising spending on defense and surveillance is expected to increase the application scope of these systems. The market has also received a boost from funding by governments in countries such as Canada and India for various projects utilizing hyperspectral imaging systems.
The global virtual reality (VR) market is projected to witness substantial growth in the coming years owing to rising investments, technological advancements, and rapid digitization. Virtual reality creates a computer-generated 3D environment that enables the user to explore and interact, and the user becomes a part of the near-reality world. High adoption of smartphones and connected devices in various sectors is also expected to increase demand for the technology in coming years.
Antenna, Transducer and Radome play a significant role in military operation. These devices detect enemies, missile attacks and other systems that can travel through air approaching near them.
The global LED lighting market size is expected to exhibit healthy growth over the forecast period. Light Emitting Diodes (LEDs) are inexpensive, eco-friendly, and longer lasting than their counterparts. LEDs are semiconductors and produce light through a method known as electroluminescence. They are elementary components utilized in a wide range of applications. Previously, the product application was restricted to particular lighting needs.