Airborne Optronics Global Market Report 2024

“Airborne Optronics Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on airborne optronics market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

• Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
• Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
• Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
• Measure the impact of high global inflation on market growth.
• Create regional and country strategies on the basis of local data and analysis.
• Identify growth segments for investment.
• Outperform competitors using forecast data and the drivers and trends shaping the market.
• Understand customers based on the latest market shares.
• Benchmark performance against key competitors.
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• Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
• All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for airborne optronics? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The airborne optronics market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of COVID-19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Aircraft Type: Fixed Wing; Rotary Wing; Urban Air Mobility; Unmanned Aerial Vehicles
• 2) By Technology: Multispectral; Hyperspectral
• 3) By System: Reconnaissance System; Targeting System; Search and Track System; Surveillance System; Warning and Detection System; Countermeasure System; Navigation and Guidance System; Special Mission System
• 4) By Application: Commercial; Military; Space
• 5) By End User: Original Equipment Manufacturer (OEM); Aftermarket
• Companies Mentioned: Leonardo S.p.A; Thales Group; Teledyne Technologies Incorporated; Safran S.A; Elbit Systems Ltd.
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Airborne optronics encompass hardware devices that manipulate light to perform diverse functions, including converting electric energy to light, transforming optical signals into electrical currents for sensing, and more. Integrated into aircraft and other aerial platforms, these devices enhance safety and precision. Airborne optronics serve various purposes in aerial platforms, such as surveillance, identification, intelligence collection, and targeting.

The primary aircraft types in the airborne optronics market include fixed-wing, rotary-wing, urban air mobility, and unmanned aerial vehicles. Fixed-wing aircraft are airplanes with stationary wings, utilizing airborne optronics for tasks such as image capture, threat detection, and countermeasure strikes. Technologies employed encompass multispectral and hyperspectral, involving systems such as reconnaissance, targeting, search and track, surveillance, warning and detection, countermeasure, navigation and guidance, and special mission systems. Applications span commercial, military, and space sectors, with end users including original equipment manufacturers (OEM) and aftermarket.

The airborne optronics market research report is one of a series of new reports from The Business Research Company that provides airborne optronics market statistics, including airborne optronics industry global market size, regional shares, competitors with an airborne optronics market share, detailed airborne optronics market segments, airborne optronics market trends and opportunities, and any further data you may need to thrive in the airborne optronics industry. This airborne optronics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The airborne optronics market size has grown rapidly in recent years. It will grow from $1.8 billion in 2023 to $2.1 billion in 2024 at a compound annual growth rate (CAGR) of 17.0%. The growth observed in the historical period can be attributed to factors such as economic growth, military modernization, an upswing in defense budgets, heightened demand from the commercial sector, and extensive research and development activities.

The airborne optronics market size is expected to see rapid growth in the next few years. It will grow to $3.8 billion in 2028 at a compound annual growth rate (CAGR) of 16.0%. The anticipated growth in the forecast period is linked to factors like geopolitical tensions, the increasing prevalence of civilian UAVs, a surge in space exploration activities, and a rise in counterterrorism efforts. Key trends expected in this forecast period encompass advanced image stabilization, fusion of electro-optical (EO) and infrared (IR) technologies, advancements in laser technology, integration of AI and machine learning, and the utilization of hyperspectral imaging.

The surge in the demand for the expansion of both commercial and military aircraft fleets is anticipated to drive the growth of the airborne optronics market. The expansion of aircraft fleets is crucial for countries to counter potential threats from neighboring nations. Airborne optronics, specialized systems supporting airborne sensors for both manned and unmanned aircraft, play a critical role in commercial and military fleets. Statistics from Ch Aviation show a notable 13% increase in the global aircraft fleet compared to the previous year, reaching a total of 28,289 aircraft by January 2022, of which 22,799 were active and 5,490 were grounded. Notably, North America and Oceania boasted the highest percentages of active aircraft fleets at 86% and 85%, respectively. This increasing need to expand aircraft fleets, both for commercial and military purposes, is a key driver behind the growth of the airborne optronics market.

The significant upsurge in air passenger traffic is set to further propel the airborne optronics market. The rise in air passenger traffic is evidenced by the considerable growth in revenue passenger kilometres (RPKs), indicating the total demand for air travel. According to a report by IATA in June 2022, RPKs displayed a growth of 78.7% from April 2021 to April 2022, slightly surpassing the 76.0% increase recorded from March 2022. Airborne optronics systems aid in managing air traffic by utilizing SATCOM for verifying satellite-based air traffic services datalink. The surge in air passenger traffic is serving as a driving force behind the growth of the airborne optronics market.

Technological advancements stand as a significant trend gaining momentum in the airborne optronics market. Major companies operating in this sector are introducing cutting-edge technologies to maintain their market positions. For example, in April 2022, Northrop Grumman Corporation introduced the RQ-4D Phoenix Global Hawk, which features advanced sensor technologies. Comprising five aircraft and ground support systems, this technology aims to collect crucial information to assist allied commanders in making rapid and informed decisions for global security during wartime. This specially designed alliance ground surveillance system provides critical Joint ISR (Intelligence, Surveillance, and Reconnaissance) situational awareness to 30 member countries of NATO (North Atlantic Treaty Organization). Such technological advancements play a pivotal role in strengthening the capabilities of airborne optronics for defense and security purposes.

Leading companies in the airborne optronics market are prioritizing the integration of new technologies to maintain their competitive positions. One notable advancement is the JetWave MCX satellite communications system, tailored to provide advanced high-speed SATCOM capabilities for mission profiles with demanding requirements. In June 2021, Honeywell, a prominent US-based electronics and motor manufacturer specializing in military and commercial avionics, introduced JetWave MCX. This innovative device builds upon the JetWave product line and is specifically designed to meet the unique needs of global military customers. JetWave MCX is intended for military and government aircraft deployed on missions like search and rescue, combat, and surveillance. Its distinct features offer operators access to broadband technology, multi-network capabilities, and resiliency, ensuring that high-speed connectivity is available to warfighters across the globe.

The acquisition of Northrop Grumman's federal IT and mission support services by the US-based private equity firm Veritas Capital represents a significant development. This acquisition was valued at $3.4 billion, and Veritas Capital plans to merge the Northrop Grumman business with Peraton, a company within its portfolio specializing in providing mission-critical technology solutions to government customers. Northrop Grumman is a renowned US-based manufacturer of aerospace and defense intelligence devices and optronics. This strategic move by Veritas Capital aims to consolidate expertise and resources in the field of optronics and mission support services, further enhancing their position in the market.

Major companies operating in the airborne optronics market include Leonardo S.p.A, Thales Group, Teledyne Technologies Incorporated, Safran S.A, Elbit Systems Ltd., Lockheed Martin Corporation, Stark Aerospace Inc., L3Harris Technologies Inc., Hensoldt AG, Collins Aerospace, Israel Aerospace Industries, Rafael Advanced Defense Systems Ltd., Kappa Optronics GmbH, Bae Systems PLC, Resonon Inc., Excelitas Technologies Corporation, Osi Optoelectronics Inc., Leidos Holdings Inc., Aselsan A.S, Intevac Inc., Ximea GmbH, Headwall Photonics Inc., Cubert GmbH., Maxar Technologies Inc., Northrop Grumman Corporation, RTX Corporation, General Dynamics Corporation, Honeywell Aerospace, Pratt & Whitney, Rolls-Royce Holdings PLC, General Electric Aviation, Spirit AeroSystems Inc., GKN Aerospace Services Limited, Triumph Group Inc.

North America was the largest region in the airborne optronics market in 2023. North America is expected to be the fastest growing region in the forecast period. The regions covered in the airborne optronics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the airborne optronics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The airborne optronics market consists of sales of laser warning receivers, laser countermeasures, laser range finders, sighting systems, AFV fire control and navigation systems. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.