Global Airborne Optronics Market Forecast to 2032
The global airborne optronics market size reached USD 1.74 billion in 2021 and is expected to register a revenue CAGR of 12.4% during the forecast period, according to the latest analysis by Emergen Research. The growing adoption of electro-optics in unmanned vehicles is the key factor driving market revenue growth.
With the reader's comprehension in mind, the team of analysts at Emergen Research painstakingly put up the new study named "Global Airborne Optronics Market." A sizable database on industry distribution is also included. The study takes into account both historical and current market conditions in order to forecast the worldwide Airborne Optronics Market outlook during the forecast period (2022–2032). Researchers who thoroughly examined the global market were able to identify the factors affecting the industry's overall growth. Strong analytical techniques, such as SWOT analysis and Porter's Five Forces, are used in the research to assess the strengths, weaknesses, opportunities, and threats connected to the growth of different market segments.
Electro-optics are used in a variety of unmanned vehicle applications, including navigation, surveillance, and mapping. These systems can provide a high level of accuracy and precision, making them well-suited for a wide range of tasks. Unmanned vehicle manufacturers in recent years have been incorporating a variety of electro-optical and radar sensors to provide deployed military forces with unprecedented capabilities for reconnaissance and surveillance. This creates a high demand for airborne optronics, which are systems such as cameras, LIDAR, and radar used for navigation, surveillance, and other mission-critical functions. As unmanned vehicle usage increases, the demand for these types of systems also increases. For this new generation of sensor payloads in connected unmanned vehicles, key enabling technologies include infrared sensors, visible-light cameras, multispectral sensors, and hyperspectral sensors.
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The global Airborne Optronics industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.
The leading market contenders listed in the report are:
Thales, Northrop Grumman, Safran, Elbit Systems Ltd, Leonardo S.p.A, Collins Aerospace, Hensoldt Inc., Lockheed Martin Corporation, L3Harris Technologies, Inc., and Excelitas Technologies Corp
Research Report on the Airborne Optronics Market Addresses the Following Key Questions:
- Who are the dominant players of the Airborne Optronics market?
- Which regional market is anticipated to have a high growth rate over the projected period?
- What consumer trends and demands are expected to influence the operations of the market players in the Airborne Optronics market?
- What are the key growth drivers and restraining factors of the Airborne Optronics market?
- What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
- What is the overall impact of the COVID-19 pandemic on the Airborne Optronics market and its key segments?
The report bifurcates the Airborne Optronics market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
- Technology Outlook (Revenue, USD Billion; 2019-2032)
- System Outlook (Revenue, USD Billion; 2019-2032)
- Reconnaissance Systems
- Targeting Systems
- Warning/Detection Systems
- Search Track Systems
- Surveillance Systems
- Navigation Guidance Systems
- Special Mission Systems
- Countermeasure Systems
- Application Outlook (Revenue, USD Billion; 2019-2032)
Regional Landscape section of the Airborne Optronics report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.
The various regions analyzed in the report include:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Some Key Highlights from the Report
- The navigation guidance systems segment is expected to register a steady revenue growth rate over the forecast period due to the growing demand for this system in aircraft owing to its precision, accuracy, and reliability in aircraft navigation. Navigation and guidance systems are used to determine the position, velocity, and attitude of an aircraft, and they are critical for safe and efficient flight operations. These systems include inertial navigation systems, Global Positioning Systems (GPS), and other types of navigation equipment. The increasing demand for precision agriculture, Unmanned Aerial Vehicles (UAVs), and other airborne applications is driving revenue growth of the segment.
- The military segment is expected to account for a significant revenue share over the forecast period. The demand for airborne optronics in military applications is driven by the need for advanced imaging, sensing, and navigation systems that can improve the performance and capabilities of military aircraft and UAVs. Airborne optronics systems, such as cameras, LIDAR, radar, and infrared sensors, are used for a wide range of military missions, including reconnaissance, surveillance, target acquisition, and navigation. These systems can provide high-resolution imaging, long-range sensing, and precise navigation capabilities, which are essential for military operations.
- Market in Asia Pacific is expected to register a significantly fast revenue growth rate during the forecast period due to the rising development in the aviation industry in the region, especially in China, Japan, and India. As of the end of 2020, China's civilian aircraft fleet has grown to 6,795. The Chinese government has been focusing on the domestic market to revive its civil aviation industry, which has led to an increase in domestic flight routes to 4,686 in 2020.
The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Airborne Optronics market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
Key Points of the Geographical Analysis:
- Data and information related to the consumption rate in each region
- Estimated increase in the consumption rate
- Proposed growth of the market share of each region
- Geographical contribution to market revenue
- Expected growth rate of the regional markets
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