Airborne Optronics Market Vendors to Watch, Trends, Development Plan, Future Outlook, and Regional Forecast by 2032
Market Size – USD 1.74 Billion in 2022, Market Growth – at a CAGR of 12.4%, Market Trends – Rising demand for robust surveillance systems
VANCOUVER, BRITISH COLUMBIA, CANADA, April 24, 2023 /EINPresswire.com/ -- Global Airborne Optronics Market Forecast to 2032
The Global Airborne Optronics Market Research Report by Emergen Research was developed via analysis of key commercial data and a broad geographic distribution. The study provides comprehensive coverage of the qualitative and quantitative analyses of the Airborne Optronics Market in addition to significant market statistical data. Both current estimates through 2022 and historical data from 2018 to 2019 are provided in the research paper. The study also examines established and emerging market players, providing a broad overview of the company, its product line, commercial alliances, and expansion ambitions.
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. Growing adoption of electro-optics in unmanned vehicles is the key factor driving market revenue growth.
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.
The rising demand for electro-optical in unmanned vehicles prompted manufacturers to introduce advanced technologies in the market. In August 2021, for instance, CACI International introduced a compact multi-sensor imaging system that generates imagery for intelligence, surveillance, and reconnaissance operations using both electro-optical and long-wave infrared technology. The CM62 Micro Gimbal weighs 260 grams and is designed to support Intelligence, Surveillance, and Reconnaissance (ISR) missions of small unmanned aerial systems. According to the company, incorporating lightweight, gyroscopically stabilized, and multi-sensor imaging systems onto existing platforms can ensure
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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 Companies Profiled 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?
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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.
Market Segmentations of the Airborne Optronics Market
This market is segmented based on Types, Applications, and Regions. The growth of each segment provides accurate forecasts related to production and sales by Types and Applications, in terms of volume and value for the period between 2022 and 2032. This analysis can help readers looking to expand their business by targeting emerging and niche markets. Market share data is given on both global and regional levels. Regions covered in the report are North America, Europe, Asia Pacific, Latin America, and Middle East Africa. Research analysts assess the market positions of the leading competitors and provide competitive analysis for each company. For this study, this report segments the global Airborne Optronics market on the basis of product, application, and region:
Segments Covered in this report are:
Technology Outlook (Revenue, USD Billion; 2019-2032)
Multispectral
Hyperspectral
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)
Commercial
Space
Military
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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)
Key reasons to buy the Global Airborne Optronics Market report:
The latest report comprehensively studies the global Airborne Optronics market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.
The report offers an insightful analysis of the regional outlook of the market.
It offers a detailed account of the end-use applications of the products services offered by this industry.
The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.
In conclusion, the Airborne Optronics Market report is an exhaustive database that will help readers formulate lucrative strategies. The Airborne Optronics Market report studies the latest economic scenario with value, drivers, constraints, growth opportunities, challenges, demand and supply ratio, production capacity, import/export status, growth rate, and others. Additionally, the report also undertakes SWOT Analysis and Porter’s Five Forces Analysis to study the leading companies.
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