The Global Astronomical Telescope Market is forecasted to grow from 245.2 Thousand Units in 2020 to 496.4 Thousand Units in 2028 with a CAGR of 9.2% over the forecast period. The market is forecasted to reach USD 345.1 Million by 2028, 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.
Astronomical education is the methods adopted globally to create interest among the generations about Earth, astronomy and space science. Astronomical education and research compile the full range of studies—from the physics of invisible elementary particles to the nature of space and time to biology regarding the natural phenomena. These qualities make astronomical studies a valuable way of raising awareness among people about science, by introducing scientific concepts and encourage scientific thinking to students at all levels.
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For instance, there are approximately 1,100 planetariums in North America, out of which 30 percent of them are available to school groups only, and 70 percent serve both school and public shows.
The shift in interest preferences of amateur astronomy may hinder the growth of the market. Amateur astronomy participants may not necessarily have advanced academic training or degree in astrophysics. Amateur astronomy is an expensive hobby with requirement of modern and precise telescope and lenses etc.
Key participants include Synta, Astro-Physics, Celestron, Meade, Vixen Optics, TAKAHASHI, Bushnell, Bresser, ORION, Barska, Bosma, Visionking and Sky-Watcher, among others.
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; 2020-2028, Revenue, USD Million; 2020-2028)
• Refracting Telescope
• Reflector Telescope
• Catadioptric Telescope
Equipment Outlook (Volume, Thousand Units; 2020-2028, Revenue, USD Million; 2020-2028)
• Eyepieces
• Tripods
• Cameras
• Mount
• Lenses
• Focal Reducers
• Others
Application Outlook (Volume, Thousand Units; 2020-2028, Revenue, USD Million; 2020-2028)
• Amateur astronomy (Entry-level telescope)
• Professional Research (Advanced astronomical telescope)
• Others (Intermediate level)
Regional Outlook (Volume, Thousand Units; 2020-2028, Revenue, USD Million; 2020-2028)
• North America
• Europe
• Asia Pacific
• Rest of the World
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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 2020 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 2020, in terms of volume.
• Tripods and mounts held the second largest share in 2020, and are forecasted to grow, in terms of shipment volume, with CAGR of 11.6% and 9.9% during the forecast period, respectively.
• Tripods are supports for telescopes. The tube needs to be place on something so people can see through it. Tripods are generally used as the height of it can be adjusted depending on the one’s preference.
• Mounts are easily categorized as the most useful part of the telescope setup. A mount is generally used for supporting a telescope to avoid vibrations and also used to point and guide the instrument. Mount is responsible for how a person moves, aligns and track celestial objects.
• The market is segmented on the basis of application into amateur astronomy (Enter-level telescope), Professional Research (Advanced astronomical telescope) and Others (Intermediate level). Amateur astronomy (Entry-level telescope) is the fastest growing segment in terms of revenue, and is expected to have a CAGR of 7.2% during the forecast period.
• Amateur astronomers engage in many imaging techniques including film, DSLR, LRGB, and CCD astrophotography. Since CCD imagers are linear in nature, image processing can be used to reduce the effects of light pollution, thus increasing the popularity of astrophotography in urban areas.
• The market is segmented on the basis of geography into North America, Europe, Asia Pacific, Latin America, and
• North America holds the largest market share of in 2020 by volume, due to the presence of the largest space organization NASA and other astronomical research institutions. The region will witness a growth of 7.8%, in terms of volume, during the forecast period.
• The companies have adopted various strategies including mergers, acquisitions, and partnerships to hold ongoing trails and come up with new developments in the market.
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