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Airborne Optronics Market Overview, Trends, Forecast 2024-2033
Airborne Optronics Market
The Business Research Company presents an extensive market research report on the "Airborne Optronics Global Market Report 2024," furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the Airborne Optronics industry. This report on Airborne Optronics market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
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 in the historic period can be attributed to economic growth, military modernization, rise in defense budgets, increased demand from the commercial sector, extensive R&D 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%.
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Key Market Players:
Leonardo S.p.A, Thales Group, Teledyne Technologies Incorporated, Safran S.A, Elbit Systems Ltd.
Market Drivers:
According to the Airborne Optronics Market Report 2024 by The Business Research Company, A surge in air passenger traffic is expected to drive the airborne optronics market going forward. Air passenger traffic refers to the total number of passengers traveling via air transport mode. Airborne optronics helps air passenger traffic by verifying a satellite-based air traffic services datalink using SATCOM. For instance, according to a report in June 2022 by IATA, a Canada-based trade association of the world's airlines, revenue passenger kilometers, or RPKs, which reflect total demand for air travel, showed a growth of 78.7% from April 2021 to April 2022 and was slightly higher than the 76.0% increase from March 2022. Therefore, the increase in air passenger traffic is driving the growth of the airborne optronics market.
More information about the Global Airborne Optronics Market Report -
https://www.thebusinessresearchcompany.com/report/airborne-optronics-global-market-report
Market segments for Airborne Optronics include:
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
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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