- Press Release -

The airborne optronics market has witnessed noteworthy growth in the past few years. With technology advancement in airborne optronics, the market is anticipated to grow at a rapid pace. Lately, introduction of nanotechnology in airborne optronics for development of smaller and more efficient airborne optronics system has further supplemented the demand, owing to its utility in smaller platforms including, micro UAVs and other small-unmanned aerial vehicles.

Besides, the technology is also beneficial for military applications as well, for instance airborne optronics with nanotechnology is extremely useful in the battlefield, owing to its characteristics of surveillance of terrorist attacks.

Furthermore, the surveillance system in the airborne optronics market is estimated to grow during the forecast period. The increasing demand for surveillance system is due to growing demand of wide range and high- altitude UAVs, which provide deeper supervision with clarity. The surveillance system coupled with UAVs has been in significant demand across several industries; for instance military aircrafts are utilizing the system for monitoring enemies’ activities.

As per the report published by Fact.MR, the global airborne optronics market is anticipated to exceed a valuation of around US$ 1.5 Bn by 2021, and is expected to expand at an impressive CAGR of around 13% over the forecast period of 2021 to 2031.

Key Takeaways from Market Study

• South Asia is estimated to witness major growth in the forecast period, compared to historical period, accounting over 18% CAGR.
• In 2020, North America is anticipated to register highest market share of around 38%, followed by Europe.
• In terms of system, surveillance system held around 22% of the overall market share in 2020.
• In technology, the multispectral technology is estimated to cover higher market share in 2020, accounting for around 66%.
• In 2020, commercial aircraft application is expected to remain most lucrative throughout the analysis period, with a projected absolute $ opportunity of US$ 2 Bn.

“Key players in the market are targeting commercial purpose airborne optronics and are further inventing optronics with AI for several applications including, preventive maintenance, and rapid emergency response. These applications will be mainly deployed in UAVs, owing to growth in demand for drones,”

Winning Strategy

Airborne optronics market revenue is dominated by commercial purpose aircrafts as it accounts for more than 48% of the market share. Owing to variety of applications of aerial vehicles in commercial segment, revenue through this expected to remain aloft.

Airborne optronics allows imaging and surveying features. Expanded airborne system including reconnaissance system, targeting system and others serve several industrial purposes. Key players in the market are offering surveillance systems specifically for commercial purposes. The rise in drone services for commercial applications has also contributed to the market growth of airborne optronic market.

More Valuable Insights

Fact.MR, in its new offering, presents an unbiased analysis of the global airborne optronics, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031. The study reveals essential insights on the basis of By System (reconnaissance system, targeting system, search and track system, surveillance system, warning/detection system, countermeasure system, navigation and guidance system, special mission system), by technology (multispectral, and hyperspectral), by application (commercial, military, and space), by aircraft type (fixed wing, rotary wing, urban air mobility, and unmanned aerial vehicles), and by end use (OEMs and aftermarket), across seven regions of the world (North America, Latin America, Europe, South Asia, East Asia , Oceania, and MEA).

Fact. MR’s Domain Knowledge in ICT

Our ICT consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the ICT sector. Our expertise in recognizing the challenges and trends impacting the global ICT industry provides indispensable insights and support – encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.

For more information, refer to our market research report or contact the PR author.

Madhu Singh

Fact.MR

Consultant - ICT

E-mail: madhu@factmr.com