Development of astronomical research and increasing scope of amateur astronomy is the primary factor in influencing market growth.
Market Size – USD 197.3 Million in 2018, Market Growth – CAGR of 7.0%, Market Trends – Increasing interest for astrophotography.
The Global Astronomical Telescope Market is forecasted to grow from 207.1 thousand units in 2018 to 427.4 thousand units in 2026 with a CAGR of 9.2% over the forecast period. The market is forecasted to reach USD 345.1 Million by 2026, according to a new report by Reports and Data. This can be mainly associated with the increase in economic investment on astronomical research, the national consumption capacity, and the national policies on astronomical education.
The report also offers SWOT analysis and Porter’s Five Forces analysis to offer a better understanding of the competitive landscape along with a detailed analysis of M&A activities, partnerships, business expansion deals, and technological and product portfolio. The report further offers a comprehensive overview of the market along with market definition, market scope, current and emerging trends, products and applications spectrum, and consumer demand.
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Key participants include Synta, Astro-Physics, Celestron, Meade, Vixen Optics, TAKAHASHI, Bushnell, Bresser, ORION, Barska, Bosma, Visionking and Sky-Watcher, among others.
Further key findings from the report suggest
- The market is segmented on the basis of product into refracting telescope, reflector telescope, and catadioptric telescope. The Reflectors Telescope held the largest volume of the market in 2018 and is forecasted to grow at a CAGR of 10.4% during the forecast period.
- These telescopes are best for exploring dimly lit deep-sky objects, like low magnitude stars, clusters, and nebulas. Moreover, unlike refracting telescopes, reflector telescopes do not suffer from chromatic aberration.
- The market is segmented on the basis of equipment into eyepieces, tripods, cameras, mount, lenses, focal reducers, and others. Others segment held the second largest share in 2018, in terms of volume.
- Tripods and mounts held the second largest share in 2018, and are forecasted to grow, in terms of shipment volume, with CAGR of 11.6% and 9.9% during the forecast period, respectively.
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For the purpose of this report, Reports and Data have segmented global Astronomical Telescope Market on the basis of equipment, product, application and region:
Product Outlook (Volume, Thousand Units; 2018-2026, Revenue, USD Million; 2018-2026)
- Refracting Telescope
- Reflector Telescope
- Catadioptric Telescope
Equipment Outlook (Volume, Thousand Units; 2018-2026, Revenue, USD Million; 2018-2026)
- Focal Reducers
Application Outlook (Volume, Thousand Units; 2018-2026, Revenue, USD Million; 2018-2026)
- Amateur astronomy (Entry-level telescope)
- Professional Research (Advanced astronomical telescope)
- Others (Intermediate level)
Regional Outlook (Volume, Thousand Units; 2018-2026, Revenue, USD Million; 2018-2026)
- North America
- Asia Pacific
- South-east Asia
- Rest of the World
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Key Points Addressed in the Report:
- A detailed analysis of the global Astronomical Telescope market through assessment of key market aspects such as technology, product type, application, end-use, and overall industry dynamics.
- Qualitative and quantitative analysis of the market estimation from 2021 to 2028 and CAGR calculation for the forecast period.
- All-inclusive assessment of market dynamics with emphasis on drivers, restraints, opportunities, and limitations.
- Extensive profiling of key companies operating in the market including company overview, financial standing, product offerings, product portfolio, recent product and technological advancement, and business expansion plans.
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