About the Report
The global airborne optronics market has been progressing at a rapid pace in the past several years. In last few years, there has been an immense upgradation in the technology across all industries, though it has also exposed the technologies from security threats. To address such threats, airborne optronics has been introduced to the market.
Growth of airborne optronics market is attributed to increasing number of security threats. Additionally, airborne optronics helps in faster decision making process, owing to advantage of imagery description of the attack. With the advancement in airborne optronics, the market has portrayed noteworthy growth in the past few years, owing to enhancement in the surveillance systems for end use industries including, aerospace, military and others.
However, airborne optronics has a variety of applications across several industries; for instance military utilize them for security threats and aerospace sector for monitoring invasion activities. Lately, the demand of airborne optronics market is anticipated to grow, owing to increasing terrorist activities and attacks.
The market is growing at a rapid pace due to surge in the demand for advanced and accurate surveillance system across the globe. To address the requirements of the several industries, airborne optronics market increased the range covered for detection and surveillance, which in turn has led to inclusion of variety of features such as, gunshot detection and target surveillance.
At present, several industries, including automotive, aerospace and defence, and others, are preferring airborne optronics over the traditional method of supervision, owing to high range detection with high resolution imagery description. This in turn, has fuelled the market growth of the airborne optronics.
Foremost objective of the report by Fact.MR on the airborne optronics market is to pitch insights on the purchase growth scenario, demand generators, and development strategies in this space. The report provides a taxonomy elaborating on key segments.
The report also outlines visionary insights on the market dynamics, including the drivers, restraints, opportunities, trends, and pricing analysis, along with key success factors. Demand trends have been tracked in 20+ high-growth countries, pointing towards countries in North America holding bulk of the share.
Historical Trends Vs. Future Market Projections
Historically from 2016 to 2020, demand of airborne optronics market increased at over 11% CAGR, and the key factor assisting this growth is its advantageous surveillance process. The airborne optronics are using several technologies for instance, search and track system, surveillance system and others, to cater end-use industries requirements. However, among all end-use industries, aerospace sector is encouraging the usage of airborne optronics for security purpose and prevention of terrorist attacks.
The market is forecasted to expand at the CAGR of nearly 13% over the coming 10 years. Prime factors influencing growth are advancement in nanotechnology for smaller and efficient airborne optronic systems.
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Which Region Offers Larger Opportunity for Airborne Optronics?
North America is estimated to hold largest market share for airborne optronics in the forecast period. The growth of the market in North America is due to adoption of technologically advanced airborne optronic options available in the region.
Growing automotive industry in the region has been significantly contributing towards the market growth of airborne optronics, owing to increasing order and supplies of airborne optronics. Lately, there has been an emergence of different airborne optronics technology to address the on-going demand from several industries, owing to better surveillance system.
North America accounts for around 38.2% of the global sales value of the airborne optronics. The region is expected to offer around US$ 1 Bn absolute dollar opportunity in the forecast period.
How Has COVID-19 Impacted the Sales of Airborne Optronics?
Covid-19 has hampered the market growth of the airborne optronics market, owing to shut down in operations of several aircrafts including commercial, military and space. Key players in the market has witnessed huge dip in the sales of the airborne optronics, which in turn has impacted the market negatively.
Automotive industry has been immensely impacted by the covid-19, which in turn forced them to reduce the purchase of airborne optronics to save cost. However, with improving pace of the automotive industry is anticipated to drive demand for the airborne optronics market in the near future.
Even after the huge drop in the revenue in this market during the pandemic times, the market is expected to reach back to normalcy very soon. Growing demand will contribute in the future growth of the product, expected to gain more market by 2031.
An Adaptive Approach to Modern-day Research Needs
Some of the key developments by companies are:
- In 2021, Northrop Grumman Corporation partnered with SMC, to support Space Force’s critical mission by providing Protected Tactical SATCOM. Northrop Grumman Corporation has significantly enhanced the Space Force with anti-jam performance to the war fighters.
- In 2021, Flir Systems, Inc. introduced Boson Radiometric Cameras with feature of radiometric accuracy temperature, which provides assessment of temperature accuracy. It will help in supervising the temperature with usage of several senses.
Similarly, recent developments related to companies manufacturing airborne optronics have been tracked by the team at Fact.MR, which is available in the full report.
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Historical Data Available for
US$ Mn for Value
Key Regions Covered
Key Countries Covered
Key Segments Covered
Key Companies Profiled
Key Market Segments Covered
- Reconnaissance Airborne Optronics Systems
- Targeting Airborne Optronics Systems
- Search and Track Airborne Optronics Systems
- Surveillance Airborne Optronics Systems
- Warning/detection Airborne Optronics Systems
- Countermeasure Airborne Optronics Systems
- Navigation and Guidance Airborne Optronics Systems
- Special Mission Airborne Optronics Systems
- Multispectral Airborne Optronics Systems
- Hyperspectral Airborne Optronics Systems
- Commercial Airborne Optronics Systems
- Military Airborne Optronics Systems
- Space Airborne Optronics Systems
By Aircraft Type
- Fixed Wing
- Rotary Wing
- Urban Air Mobility
- Unmanned Aerial Vehicles
By End Use
- North America
- Latin America
- South Asia
- East Asia
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
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Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.
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