August 03, 2022 09:44 ET | Source: Facts & Factors Facts & Factors
TOKYO, JAPAN, Aug. 03, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Fiber Bragg Grating (FBG) Market By Type (FBG Sensor, FBG Filter and others), By Application (Sensing, Measuring, Monitoring and others), By Industry (Telecommunication, Aerospace, Energy and Utilities, Transportation, Others), and By Region - Global Industry Insights, Growth, Size, Share, Comparative Analysis, Trends, Statistical Research, Market Intelligence, and Forecast 2022 – 2028” in its research database.
“According to the latest research study, the demand of global Fiber Bragg Grating (FBG) Market size & share was valued at approximately USD 1428.4 million in 2021. The market is expected to grow above a CAGR of 23.9% and is anticipated to reach over USD 5167.4 million by 2028.”
The report analyses the Fiber Bragg Grating (FBG) market’s drivers and restraints, as well as the impact they have on-demand throughout the projection period. In addition, the report examines global opportunities in the global Fiber Bragg Grating (FBG) market.
What is Fiber Bragg Grating (FBG)? How big is the Fiber Bragg Grating (FBG) Industry?
A fiber bragg grating (FBG) is a sort of distributed Bragg reflector that is built in a short segment of optical fiber and capable of reflecting specific wavelengths while transmitting the rest. They're being employed as temperature and strain direct sensing elements. They can also be employed as a transducer, translating the output of another sensor that produces a strain or temperature change in the measurement. They have a stable structure, making them appropriate for telecommunications applications such as add/drop, filters, dense wavelength division multiplexing, mux/demux, and lasers.
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The rising demand for effective sensors capable of detecting several physical characteristics such as temperature, pressure, and acoustic waves in any given environment, the FBG market is likely to rise at a faster rate over the forecast period. The aircraft sector is known for its harsh and complicated operating environment, so selecting a sensor that can resist such extremes while also delivering the requisite accuracy, reliability, precision, and repeatability is critical. Furthermore, in aircraft protection systems, fiber optic technology configures easier and faster solutions for aircraft manufacturers to install more reliable and lighter weight solutions in order to measure and monitor the temperature along the aircraft bleed air ducts, control valves, and in critical areas of the plane.
Additional uses for fiber bragg grating include civil and geotechnical engineering, energy generation, conversion, and storage, security and perimeter monitoring, commercial transportation, performance boats, vehicles, and equipment, and medical and biotech. With the growing number of applications for fiber bragg grating around the world, their acceptance rate is also increasing, propelling the market forward.
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Key questions answered in this report:
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Fiber Bragg Grating (FBG) Market: COVID-19 Impact Analysis
The COVID-19 epidemic has wreaked havoc on a number of sectors. The virus's rapid spread has prompted governments around the world to put stringent restrictions on vehicle and person movement. The epidemic has impacted economies and multiple businesses in various countries as a result of travel bans, mass lockdowns, and business closures. The installation of the lockdown has resulted in a reduction in the production of commodities, goods, and services.
Due to the temporary halt of activity, manufacturing, automotive, semiconductor and electronics, oil and gas, mining, aviation, and other industries have seen a drop in their operations. Because the manufacturing facilities had a limited workforce, the FBG market players also saw a drop in volume. The market has suffered as a result of this.
Fiber Bragg Grating (FBG) Market: Segmentation Overview
By Type, the global market is distinguished into FBG Sensors and FBG Filter, and others. Sensors have revolutionized the supply chain of a variety of sectors, since the technology has substantially decreased human labor, enhanced accuracy, and saved a significant amount of time. Furthermore, technological advancements cleared the stage for automation. The majority of sensors are electric sensors, which require electricity and are susceptible to electromagnetic waves, which can cause the sensor to fail. The distributed bragg reflector architecture of fiber bragg grating sensors reflects a certain wavelength of light. Temperature, tension, and pressure variations can all be detected with these sensors.
By Application, the global is segregated into Telecommunication, Aerospace, Energy and Utilities, Transportation, and Others. The Aerospace Industry is expected to Grow Significantly. The aircraft sector is known for its harsh and complicated operating environment, so selecting a sensor that can resist such extremes while also delivering the requisite accuracy, reliability, precision, and repeatability is critical. Furthermore, in aircraft protection systems, fiber optic technology configures easier and faster solutions for aircraft manufacturers to install more reliable and lighter weight solutions in order to measure and monitor the temperature along the aircraft bleed air ducts, control valves, and in critical areas of the plane.
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North America is expected to grow at a rapid pace. The market for fiber Bragg grating sensors in the North American region is being driven by stringent government rules surrounding passenger safety and the region's rapidly increasing aerospace sector. Due to rising economies, the Asia Pacific grew at the quickest rate during the projection period. With its low cost of raw materials and large production facilities, China has a lot of promise for fiber bragg grating. Increased internet usage in countries like Japan, South Korea, China, and India is credited with the region's dominance. Furthermore, the region's rising industrialization is fueling the expansion of the fiber bragg grating industry.
The report contains qualitative and quantitative research on the global Fiber Bragg Grating (FBG) Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards.
Some of the main players in the global Fiber Bragg Grating (FBG) market include;
Key Insights from Primary Research
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The global Fiber Bragg Grating (FBG) market is segmented as follows:
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