February 02, 2021
As cited by the research report titled ‘Global Telescope Market Size study, by Type (Refracting Telescope, Reflector Telescope, and Catadioptric telescope), By Application (Amateur Astronomy Hobby, Professional Research, and Others), and Regional Forecasts 2020-2027’, available with Market Study Report LLC, global telescope market is anticipated to accrue significant revenue during 2020-2027.
Factors such as flourishing astronomical science sector, implementation of favorable regulations and policies regarding astronomical education, in consort with scientific as well as technological advancements, primarily in optics and electronics, are positively swaying the global telescope market dynamics.
Moreover, rising curiosity among the population regarding non-scientific as well as scientific fields of astrophotography, coupled with inclination towards self-documenting and observing celestial objects are furthering the business development.
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The report states that surge in amateur astronomers, increasing internet penetration, proliferation of science education in contemporary culture, and growing popularity of science-fiction films are stimulating the global telescope market outlook.
On the contrary, lack of buyer knowledge along with high costs associated with astronomy are major hindering factors for the industry expansion.
Based on product terrain, worldwide telescope industry is fragmented into catadioptric telescope, reflector telescope, and refracting telescope. The application spectrum of the market comprises of professional research, hobby, amateur astronomy, and others.
Speaking of the regional analysis, the industry landscape is segmented into Latin America, Asia-Pacific, North America, Europe, and rest of the world. The country-level bifurcation of the vertical includes Mexico, Brazil, India, Australia, Japan, South Korea, China, rest of APAC, Canada, U.S., Germany, UK, Italy, Spain, France, and rest of Europe.
North America is predicted to account for a majority of the global telescope market share by the year 2027. Growing amateur astronomer population, along with increasing research & development activities in the business vertical are fostering the expansion of the regional market.
Key players operating in the market include Sky-Watcher, Barska, Orion Telescopes & Binoculars, Bresser Corporation, Bushnell Corporation, Astrophysics Inc., Takahashi Industry Co. Ltd., Vixen Co. Ltd., Meade Instruments Corporation, and Celestron among others.