According to Emergen Research's most recent analysis, the global airborne optronics market size reached USD 1.74 billion in 2021 and is anticipated to grow at a revenue CAGR of 12.4% over the next five years. The primary element boosting market revenue growth is the expanding use of electro-optics in autonomous vehicles. Applications for unmanned vehicles that use electro-optics include mapping, surveillance, and navigation. These systems can deliver a high degree of precision and accuracy, making them suitable for a variety of activities. Manufacturers of unmanned vehicles have been integrating different electro-optical and radar sensors in recent years to give deployed military forces previously unheard-of capabilities for reconnaissance and surveillance. Airborne optronics—systems like cameras, LIDAR, and radar—that are utilised for navigation, surveillance, and other mission-critical tasks are consequently in great demand. The demand for these kinds of technologies rises along with the use of unmanned vehicles. Key enabling technologies for this new class of sensor payloads in connected unmanned vehicles include infrared sensors, visible-light cameras, multispectral sensors, and hyperspectral sensors.
In-depth analysis of each of the market's key segments is provided in Emergen Research's most recent market research report, which focuses on the global Airborne Optronics market. The market size, revenue growth rate, industry data, revenue splits by regional markets, gross margins, production costs, and product portfolios are all included in the studies on the global Airborne Optronics market. The most significant drivers, opportunities, trends, challenges, supply and demand ratios, production and consumption patterns, strict regulatory frameworks, and a host of other micro- and macroeconomic aspects are also highlighted in the research.
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Competitive Terrain:
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.
Leading Market Players Profiled in the Report:
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
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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.
Key market aspects studied in the report:
Market Scope: The report explains the scope of various commercial possibilities in the global Airborne Optronics market over the upcoming years. The estimated revenue build-up over the forecast years has been included in the report. The report analyzes the key market segments and sub-segments and provides deep insights into the market to assist readers with the formulation of lucrative strategies for business expansion.
Competitive Outlook: The leading companies operating in the Airborne Optronics market have been enumerated in this report. This section of the report lays emphasis on the geographical reach and production facilities of these companies. To get ahead of their rivals, the leading players are focusing more on offering products at competitive prices, according to our analysts.
Report Objective: The primary objective of this report is to provide the manufacturers, distributors, suppliers, and buyers engaged in this sector with access to a deeper and improved understanding of the global Airborne Optronics market.
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Market Overview:
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)
- 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
Regional Outlook:
- North America (the U.S., Canada, Mexico)
- Europe (the U.K., Germany, France, Italy)
- Asia Pacific (India, China, Japan, Korea)
- Latin America (Brazil, Argentina, Ecuador, Chile)
- Middle East & Africa (Egypt, Turkey, Saudi Arabia, Iran)
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.
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