Press release
Demand Of Airborne Optronics Market Increased At Over 11% CAGR By 2032
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.The report offers actionable and valuable market insights of Airborne Optronics. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Airborne Optronics Market across various industries and regions.
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The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Airborne Optronics market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Airborne Optronics
This newly published and insightful report sheds light on Market Insights of Airborne Optronics, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Airborne Optronics Market.
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.
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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.
Competitive Landscape
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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Key Market Segments Covered
By System
• 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
By Technology
• Multispectral Airborne Optronics Systems
• Hyperspectral Airborne Optronics Systems
By Application
• 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
• OEMs
• Aftermarket
By Region
• North America
• Europe
• Latin America
• South Asia
• East Asia
• Oceania
• MEA
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Key Question answered in the survey of Airborne Optronics market report:
• Sales and Demand of Airborne Optronics
• Growth of Airborne Optronics Market
• Market Analysis of Airborne Optronics
• Market Insights of Airborne Optronics
• Key Drivers Impacting the Airborne Optronics market
• Which are the Key drivers impacted by Airborne Optronics market
• Restraints Shaping Market Growth
• Market Survey of Airborne Optronics
More Valuable Insights on Airborne Optronics Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Airborne Optronics, Sales and Demand of Airborne Optronics, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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