Space and Military/Aerospace Segment to Dominate Europe Atomic Clock Market during 2019–2027
According to The Insight Partners market research study on “Europe Atomic clock Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Type and Application” is expected to reach US$ 192.68 million by 2027 from US$ 123.88 million in 2019. The market is estimated to grow at a CAGR of 5.8% from 2020 to 2027. The report provides trends prevailing in the Europe atomic clock market along with the drivers and restraints pertaining to the market growth. Metrology station is raising high demand owing to time-sensitive applications is the major factor driving the growth of the Europe atomic clock market. However, issues associated with complications associated with atomic clocks along with huge costs is expected to hinder the growth of Europe atomic clock market.
The Europe atomic clock market is segmented based on type, application. The Europe atomic clock market is segmented as rubidium atomic clock and CSAC, cesium atomic clock, hydrogen maser atomic clock based on type. Rubidium atomic clock and CSAC segment led the Europe atomic clock market in 2019. The Europe atomic clock market is segmented into space and military/aerospace, scientific and metrology research, telecom/broadcasting, and others based on application. Space and military/aerospace segment led the atomic clock market in 2019.
Also the ongoing COVID-19 is having very bad impact over the Europe region. Europe is a one of the key regions for the growth of atomic clock market, due to presence of many developed countries such as Germany, UK, France, Italy, and Russia, where investments in space and defense industry research and development activities is quite high in comparison to other regions. Also, the high adoption of advanced technology solutions in various industries makes this region an ideal market for the growth of different types of atomic clocks over the forecast period. All the major countries present in this region are characterized by the presence of huge industrial sector including BFSI, automotive, aerospace & defense, and telecommunication, and broadcasting. Presently, Russia, UK, Spain, Italy, Germany, Turkey, and France are some of the major countries that are affected in a negative manner due to COVID-19 outbreak. Due to COVID-19 outbreak, the governments in various European countries have imposed lockdowns and movement restrictions. European countries represent a major market for atomic clock demand and growth owing to the presence of a strong aviation, space, automotive, and defense sectors. In various European countries, the lockdown has affected launch of new projects/programs, R&D investments, and caused disruptions in delivery schedules due to supply and demand gaps, thus impacting the growth of Europe atomic clock market.
Excelitas Technologies Corp., IQD Frequency Products Ltd, Leonardo S.p.A., Microchip Technology Inc, Orolia, Oscilloquartz, Stanford Research Systems, and VREMYA-CH JSC are among the leading companies in the Europe atomic clock market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, IQD Frequency Products Ltd., became part of the Würth Elektronik eiSos Group, thus expanding Würth Elektronik’s existing selection of passive components with a comprehensive range of quartz crystals and oscillators.
The report segments the Europe Atomic Clock Market follows:
Europe Atomic Clock Market – By Type
- Rubidium Atomic Clock and CSAC
- Cesium Atomic Clock
- Hydrogen Maser Atomic Clock
Europe Atomic Clock Market – By Application
- Space and Military/Aerospace
- Scientific and Metrology Research
- Telecom and Broadcasting
- Other Applications
Europe Atomic Clock Market – By Country
- France
- Germany
- Italy
- Russia
- UK
- Rest of Europe
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