Military Airborne Electro-Optics Market is Forecasted to Reach US$ 3.3 billion in 2027, Says Stratview Research

The global Military Airborne Electro-Optics Market is projected to witness a growth rate of 4.8% annually from 2022 to 2027, with an anticipated size of US$ 3.3 billion in 2027, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global Military Airborne Electro-Optics Market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Report Highlights:
Market Size in 2027: US$ 3.3 billion
Growth (CAGR): 4.8% during 2022-2027
Forecast Period: 2022-2027
Trend Period: 2016-2020
Base Year: 2021
Number of Segments Covered: 3
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20

Segment Insights on the Military Airborne Electro-Optics Market:

The global Military Airborne Electro-Optics Market is segmented aircraft type, product type, and region

Based on aircraft type- The market is segmented into military helicopters, military aircraft, and military UAVs. Among these types, the military aircraft segment held the major market share, followed by military helicopters, and military UAVs. On the other hand, the military UAV segment is expected to witness the fastest market growth during the forecast period due to the large focus of several countries for the production of UAVs. Also, in recent years, UAVs are largely being equipped with these electro-optic solutions, which help in enabling efficient target identification along with providing wide-area surveillance, even under unfavorable weather and light conditions.

Based on the product type- The market is classified into multispectral and hyperspectral electro-optic solutions. Between both product types, multispectral electro-optics is expected to remain the dominant as well as the fastest-growing market segment during the forecast period. This is because the multispectral systems are of a lower cost and provide effective results for all types of military aircraft. On the other hand, hyperspectral electro-optic systems are very high in cost and are therefore rarely used in the defense industry.

To know the most attractive segments, click here for a free sample of the report:
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Which Region Shows the Most Promising Growth Forecast and Opportunity?
The analysis suggests North America is expected to remain the largest market for military airborne electro-optics during the forecast period. This growth outlook is majorly attributed to the following-
• This region is home to several major companies, such as L3 Harris Technologies Ltd., Northrop Grumman, Lockheed Martin Corporation, and Raytheon Technologies Corporation, which make the region the growth engine of the global market.
• Similarly, Asia-Pacific is likely to be the fastest-growing region in the market during the forecast period, due to the rising military expenditure in countries such as China, Japan, India, and South Korea.

Military Airborne Electro-Optics Market Drivers:
The Military Airborne Electro-Optics Market is driven by several key factors, including:
The rapid increase in military aircraft programs along with the increasing need for surveillance and early warning solutions, there is a growing demand for advanced electro-optic sensors.

Top 10 Companies in the Military Airborne Electro-Optics Market:
Stratview Research has identified the following companies as the top market players:
• L3Harris Technologies, Inc.
• Raytheon Technologies Corporation
• Lockheed Martin Corporation
• Leonardo S.p.A.
• Elbit Systems Ltd.
• Thales Group
• Northrop Grumman Corporation
• IAI (Israel Aerospace Industries)
• Teledyne FLIR LL
• HENSOLDT
What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Military Airborne Electro-Optics Market, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

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Related Reports:
• Military Aircraft Market: https://www.stratviewresearch.com/2912/military-aircraft-market.html

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
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This release was published on openPR.