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Airborne Optronics Market 2023 - By Size, Share, Price, Growth, Trends, Industry Report, Key Players, Major Segments And Forecast To 2032
Airborne Optronics Market
The Business Research Company's Airborne Optronics Global Market Report 2023 identifies rapidly increasing need to expand commercial and military aircraft fleets as the major driver for the Airborne Optronics market's growth in the forecast period. An aircraft fleet refers to a group or collection of aircraft under an organization or a country. Countries are increasing their aircraft fleet size to counter threats from neighboring countries. Airborne optronic is designed and developed to control and support the airborne sensors and systems for manned and unmanned aircraft that are used in commercial and military aircraft fleets.
The global airborne optronics market size grew from $1.51 billion in 2022 to $1.77 billion in 2023 at a compound annual growth rate (CAGR) of 16.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The airborne optronics market size is expected to grow to $3.06 billion in 2027 at a CAGR of 14.7%.
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Major competitors in the Airborne Optronics market are Leonardo S.p.A, Thales Group, Flir Systems Inc.(Teledyne Technologies Incorporated), Safran S.A, Elbit Systems Ltd., Lockheed Martin Corporation.
A key trend in the Airborne Optronics market includes technological innovations. Major companies operating in the market are introducing new technologies to sustain their position in the market. For instance, in April 2022, Northrop Grumman Corporation, a Germany-based manufacturer of aerospace, and defense intelligence devices launched RQ-4D Phoenix Global Hawk, which is manufactured using advanced sensor technologies. This comprised of five aircraft and ground support systems that help to collect vital information to enable allied commanders to make informed and rapid decisions to preserve global security at the time of war.
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The Airborne Optronics market is segmented -
• By Aircraft Type: Fixed Wing, Rotary Wing, Urban Air Mobility, Unmanned Aerial Vehicles
• By Technology: Multispectral, Hyperspectral
• 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
• By Application: Commercial, Military, Space
• By End User: Original Equipment Manufacturer (OEM), Aftermarket
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Airborne Optronics market.
The Business Research Company's "Global Airborne Optronics Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Airborne Optronics Market Include:
1. Executive Summary
2. Airborne Optronics Market Characteristics
3. Airborne Optronics Market Trends And Strategies
4. Airborne Optronics Market - Macro Economic Scenario
5. Airborne Optronics Market Size And Growth
…………………………….
26. Africa Airborne Optronics Market
27. Airborne Optronics Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Airborne Optronics Market
29. Airborne Optronics Market Future Outlook and Potential Analysis
30. Appendix
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