The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The global airborne optronics market has witnessed remarkable growth, surging from $1.51 billion in 2022 to $1.77 billion in 2023, marking an impressive compound annual growth rate (CAGR) of 16.6%. Looking ahead, the market size is poised to reach $3.06 billion in 2027, sustaining a robust CAGR of 14.7%. Let’s delve into the key drivers fueling this growth, explore the major players shaping the industry, and unravel the innovative trends steering the airborne optronics market.

Sky’s the Limit: Expanding Commercial and Military Aircraft Fleets

1. Increasing Aircraft Fleet Size

• The growth of the airborne optronics market is propelled by the escalating need to expand both commercial and military aircraft fleets.
• Aircraft fleets, representing a collection of aircraft under an organization or a country, are expanding globally to address security threats and enhance defense capabilities.

2. Global Aircraft Fleet Statistics

• According to Ch Aviation, the global aircraft fleet witnessed a 13% increase compared to 2021.
• As of January 2022, there are 28,289 aircraft, with 22,799 active and 5,490 grounded, reflecting the substantial scale of the global aircraft fleet.
• North America and Oceania lead with the highest active aircraft fleets, standing at 86% and 85%, respectively.

3. Role of Airborne Optronic Systems

• Airborne optronics play a crucial role in controlling and supporting sensors and systems for both manned and unmanned aircraft.
• These systems are integral to commercial and military aircraft fleets, contributing to enhanced situational awareness and mission capabilities.

Leaders in the Sky: Major Players Shaping the Industry

1. Prominent Industry Players

• The airborne optronics market is influenced by major players such as Leonardo S.p.A, Thales Group, Flir Systems Inc., Safran S.A, Elbit Systems Ltd., Lockheed Martin Corporation, and more.
• These industry leaders are instrumental in driving technological advancements and innovation.

Innovation Takes Flight: Technological Advancements

1. Key Trends – Technological Innovations

• Technological innovations stand out as a key trend in the airborne optronics market, with major companies introducing cutting-edge technologies to maintain their market positions.
• In April 2022, Northrop Grumman Corporation unveiled the RQ-4D Phoenix Global Hawk, featuring advanced sensor technologies for intelligence, surveillance, and reconnaissance (ISR) capabilities.

2. RQ-4D Phoenix Global Hawk

• The RQ-4D Phoenix Global Hawk, manufactured by Northrop Grumman, consists of five aircraft and ground support systems.
• Equipped with advanced sensor technologies, this drone collects vital information to facilitate informed decisions during wartime.
• The alliance ground surveillance system provides critical Joint ISR situational awareness to 30 NATO member countries.

Navigating Segments: A Strategic Approach

1. Comprehensive Market Segmentation

• The global airborne optronics market is segmented based on aircraft type, technology, system, application, and end-user.
• Segments include Fixed Wing, Rotary Wing, Urban Air Mobility, Unmanned Aerial Vehicles, Multispectral, Hyperspectral, Reconnaissance System, Targeting System, Search and Track System, and more.

2. Regional Dominance

• North America emerged as the largest region in the airborne optronics market in 2022, showcasing its prominence in technology adoption and defense applications.
• The region is anticipated to continue as the fastest-growing in the forecast period.

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The Airborne Optronics Global Market Report 2023  provides an overview of the airborne optronics market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The airborne optronics market forecast analyzes airborne optronics market size, airborne optronics market share, leading competitor and their market positions.

The Table Of Content For The Airborne Optronics Market Include:
1. Airborne Optronics Market Executive Summary
2. Airborne Optronics Market Segments
3. Airborne Optronics Market Size And Airborne Optronics Market Growth Rate
4. Key Airborne Optronics Market Trends
5. Major Airborne Optronics Market Drivers
……
25. Key Mergers And Acquisitions In The Airborne Optronics Market
26. Top Airborne Optronics Companies
27. Airborne Optronics Market Opportunities And Strategies
28. Airborne Optronics Market, Conclusions And Recommendations
29. Appendix

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