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Fiber Bragg Grating Market worth US$ 7,435.3 Million by 2028 – Exclusive Research by The Insight Partners

Fiber Bragg Grating Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (FBG Sensor and FBG Filter & Others), Application (Sensing, Measuring, Monitoring, and Others), and Industry (Telecommunication, Aerospace, Energy and Utilities, Transportation, and Others)

According to our latest market study on “Fiber Bragg Grating Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Application, and Industry,” the market is expected to grow from US$ 1,500.6 million in 2021 to US$ 7,435.3 million by 2028; it is expected to grow at a CAGR of 25.7% from 2021 to 2028.

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The sensing capabilities of the fiber bragg grating technology have enabled various end users to streamline their operational processing. The sensing capability allows tracking of the particular node or point where deviation or change has been observed. The fiber bragg grating is also widely used in wind turbines for identifying any variations in the set momentum of the blade. Any irregular change in the speed of the wind turbine blade may be a potential sign of a major or minor defect, which could affect the overall energy-generating capability of a wind turbine. Fiber bragg grating technology can sense such deviations effectively.

Based on application, the fiber bragg grating market is categorized into sensing, measuring, and monitoring & others. The sensing segment held the largest share in 2020. Similarly, based on industry, the fiber bragg grating market is segmented into telecommunication, aerospace, energy and utilities, transportation, and others. The telecommunication sector dominated the market in 2020. Fiber bragg grating is one of the major technologies used in the telecommunication industry to deploy optical networks.

Impact of COVID-19 Pandemic on Fiber Bragg Grating Market

The COVID-19 pandemic has shaken several industries. The tremendous growth in the spread of the virus has urged governments worldwide to impose strict restrictions on vehicle and human movement. Due to travel bans, mass lockdowns, and business shutdowns, the pandemic has affected economies and countless industries in various countries. The lockdown imposition has resulted in the lesser production of commodities, goods, and services. Manufacturing, automotive, semiconductor and electronics, oil & gas, mining, aviation, and other industries have witnessed a decline in their operations due to the temporary shutdown of activities. The fiber bragg grating market players also experienced a slowdown in the volumes because the manufacturing facilities were operating with a limited workforce. This has had a negative impact on the fiber bragg grating market.

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Type-Based Market Insights

The emergence of sensors has transformed the supply chain of various industries as the technology drastically reduced manual efforts, improved accuracy, and saved a substantial amount of time. Moreover, technology paved the way for automation. The majority of sensors are electric sensors, they need a power source, and they are vulnerable to electromagnetic waves, which could lead to the sensor’s failure. The fiber bragg grating sensors use distributed bragg reflector construction, which reflects a particular wavelength of light. These sensors can detect temperature change, strain, and pressure fluctuations. They offer higher accuracy and longer stability. Moreover, they are compact. Owing to these factors, the fiber bragg grating sensors are among the most preferred sensors in measuring, monitoring, and sensing applications across various industries such as oil & gas, aerospace, power, telecommunication, civil, and transportation.

Increasing Adoption of Fiber Bragg Grating Due to Their Advantages

FBGs are being increasingly adopted across numerous applications, owing to their advantages such as direct absolute measurement, unique wavelength multiplexing capability, and no conductivity. Moreover, they are electrically passive and immune to EMI-induced noise. The fiber bragg grating sensors mounting is like conventional gages. Also, they are available in different mounting options and form factors. When fiber bragg grating is used with a high-power tunable laser, they can conduct measurements over long distances with minimal or no loss in signal integrity. In addition, every optical channel can measure dozens of fiber bragg grating sensors, unlike electrical sensing systems. This, in turn, lowers the size, complexity, and weight of measurement systems. Moreover, as fiber bragg grating provides direct absolute measurement compared to old, conventional electric & alternative fiber sensors, these are being used in medical, aircraft, research & development, industrial, and telecommunication applications. Hence, due to the advantages of fiber bragg grating, their adoption rate is booming, which is another driving factor for the fiber bragg market.

The List of Companies – Fiber Bragg Grating Market

AOS GmbH; Alnair Labs Corporation; FBGS Technologies GmbH; HBM Fibersensing S.A.; ITF Technologies; Ixblue Photonics; Micron Optics; Proximion AB; and Technica are a few significant companies operating in the fiber bragg grating market.

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The players operating in the fiber bragg grating market are focusing on strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:

In 2020, Luna Innovation Incorporated signed a US$ 6.2 million deal with Lockheed Martin to extend their long-term relationship, resulting in the development of new optical measurement products, which ensures that the global fleet of F-35 aircraft is ready for service.

In 2018, Proximion AB entered into a development partnership for the industrialization of fiber optic sensing systems with SKF. The two companies are working together to combine SKF’s fiber optic bearing sensing technology with Proximion’s application integration experience and knowledge in developing and producing advanced fiber optic sensors and data collection hardware units.

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