Apr 19, 2021   SOURCE: BusinessWire

Airborne Optronics Market by End Use, System, Technology, Application, Aircraft Type and Region - Global Forecast to 2025 - ResearchAndMarkets.com

The "Airborne Optronics Market by End Use, System, Technology (Hyperspectral, Multispectral), Application (Commercial, Military, Space), Aircraft Type (Fixed Wing, Rotary Wing, Urban Air Mobility, Unmanned Aerial Vehicles) and Region - Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The global airborne optronics market size is projected to grow from USD 1.4 billion in 2020 to USD 2.5 billion by 2025, at a CAGR of 12.7% from 2020 to 2025.

Surveillance system: The largest segment of the airborne optronics market, by system.

The surveillance system segment is expected to be the largest market by value. The growth of the surveillance system segment of the airborne optronics market can be attributed to the increasing usage of small UAVs in the military sector along with long-range and high-altitude UAVs to provide battlefield intelligence. Small UAVs help monitor enemy forces or specific areas and send video feedback to ground stations with the help of GPS. UAVs are used for ISR operations to record information of potential targets that are otherwise challenging to detect.

Multispectral: The fastest-growing segment of the airborne optronics market, by technology.

Based on technology, the multispectral segment is projected to be the highest CAGR rate for the airborne optronics market during the forecast period. The growth of the multispectral segment of the airborne optronics market can be attributed to the low-cost multispectral imaging system which is considered to be the best fit for unmanned autonomous aircraft.

Commercial: The fastest-growing segment of the airborne optronics market, by application.

Based on the application, the commercial segment is projected to be the highest CAGR rate for the airborne optronics market during the forecast period. This growth can be attributed to various commercial applications of airborne optronics. The use of drones is not limited to aerial imaging and surveying applications. UAVs are also integrated with artificial intelligence (AI) to carry out a range of commercial operations, including preventive maintenance, rapid emergency response, facility surveys, security, and land surveys. The demand for drone services in different verticals is also increasing, with the rise in the use of UAVs.

Unmanned Aerial Vehicles: The fastest-growing segment of the airborne optronics market, by aircraft type.

Based on aircraft type, the unmanned aerial vehicles segment is projected to grow at the highest CAGR rate for the airborne optronics market during the forecast period. UAVs are commonly termed drones and are mostly known for their wide usage in various military missions such as border surveillance. They are also used for mapping, surveying, and determining weather conditions of a specific area. Certain remotely piloted UAVs are designed to operate as loitering munition for defense forces. These UAVs are equipped with high-resolution cameras and electro-optics and infrared systems that help them carry out surveillance activities and identify the location of a target. Once located, the UAV is guided towards the target to destroy it.

OEM: The fastest-growing segment of the airborne optronics market, by end use.

Based on the end use, the OEM segment is projected to grow at the highest CAGR rate for the airborne optronics market during the forecast period. OEMs are responsible for the installation of optronics in an aircraft during the assembly stage and are then made available for delivery to aircraft manufacturers and space agencies. Over the years, there has been a significant rise in the demand for different aircraft types across regions. According to Airbus, it delivered 863 commercial aircraft to 99 customers in 2019.

North America: The largest contributing region in the airborne optronics market.

North America is projected to be the largest regional share for the airborne optronics market during the forecast period. The key factor responsible for North America, leading the airborne optronics market owing to the rapid growth of the technologically advanced optronics in the region. In North America, the rise in aircraft orders and supplies is encouraging manufacturers of airborne optronics to increase their sales year on year.

Market Dynamics

Drivers

  • Growing Fleet of Commercial and Combat Aircraft
  • Modernization and Technological Advancements
  • Increased Deployment of Electro-Optics for Unmanned Vehicles

Opportunities

  • Emergence of Urban Air Mobility Platforms
  • Growing Defense Budgets of Major Economies
  • Global Expansion of Military Air Fleet
  • Use of UAVs in Military Operations

Challenges

  • Inefficiency in Extreme Weather Conditions
  • Impact of COVID-19

Companies Mentioned

  • Aselsan A.a.
  • Bae Systems plc
  • Collins Aerospace
  • Cubert GmbH
  • Elbit Systems Ltd.
  • Excelitas Technologies Corporation
  • Flir Systems, Inc.
  • Headwall Photonics, Inc.
  • Hensoldt Ag
  • Ii-Vi, Inc.
  • Intevac, Inc.
  • Israel Aerospace Industries
  • Kappa Optronics GmbH
  • L3Harris Technologies Inc.
  • Leidos Holdings, Inc.
  • Leonardo Spa
  • Lockheed Martin Corporation
  • Northrop Grumman Corporation
  • Osi Optoelectronics, Inc.
  • Rafael Advanced Defense Systems Ltd.
  • Resonon Inc.
  • Safran
  • Stark Aerospace, Inc.
  • Thales Sa
  • Ximea GmbH

For more information about this report visit https://www.researchandmarkets.com/r/o5zggp