Chicago, April 04, 2023 (GLOBE NEWSWIRE) -- 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, The market is driven by various factors, such as growing fleet of commercial and combat aircraft and increased deployment of electro-optics in unmanned vehicles.
Increasing utilization of UAVs in the military sector to provide battlefield intelligence will drive the demand for surveillance system segment
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.
The multispectral segment is projected to witness a higher CAGR during the forecast period
Based on techology, 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.
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Airborne Optronics Market Scope
| Report Metric | Details |
| Estimated Market Size | USD 1.4 billion |
| Projected Market Size | USD 2.5 billion |
| Growth Rate | CAGR of 12.7% |
| Market size available for years | 2017–2025 |
| Base year considered | 2020 |
| Forecast period | 2020-2025 |
| Forecast units | Value (USD Million) |
| Segments covered | By System, By Technology, By Application, By Aircraft Type, By End Use, |
| Geographies covered | North America, Europe, Asia Pacific, Latin America, Middle East, and Africa |
| Companies covered | Northrop Grumman Corporation (US), Thales SA (France), Safran (France), FLIR Systems, Inc. (US), and Elbit Systems Ltd. (Israel) |
Top Market Players:
Northrop Grumman Corporation (Northrop Grumman) designs, develops, builds, and supports some of the world’s most advanced products, such as cutting-edge aircraft, next-generation spacecraft, unrivaled cybersecurity systems, and all-seeing radars. The company operates through four business segments, namely, Aerospace Systems, Innovation Systems, Mission Systems, and Technology Services. The Mission Systems segment is involved in sensors and processing capabilities that deliver products, systems and services that support ground-based and fixed wing and rotary wing aircraft platforms with radar, electronic warfare, C2, Signals Intelligence (SIGINT), and situational awareness mission systems. This business segment also displays competencies include targeting, surveillance, air defense, and early warning & control radar systems; EO/IR and radio frequency (RF) self-protection, targeting and surveillance systems; electronic attack and electronic support systems; communications and intelligence systems; digitized cockpits; and multi-sensor processing.
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Thales is a global organization with operations in all continents serving five major markets: aerospace, space, ground transportation, defense and security, and digital security. Thales designs and manufactures components and systems for day and night surveillance, reconnaissance, protection, threat detection, and target acquisition on all types of land, sea (surface and subsurface), or air platforms for defense and security customers worldwide. Thales’s expertise in optics also applies to the civilian markets of high-end optics for the film industry and ultra-high-power laser for scientific and industrial applications. In Airborne Optronics, the company designs, develops, produces, and supports airborne sensors and systems for manned and unmanned aircraft.
FLIR is an established company in developing technologies that enhance perception and awareness. It designs, develops, markets, and distributes solutions that detect people, objects, and substances that may not be perceived by human senses. FLIR technologies include thermal imaging systems, visible-light imaging systems, locater systems, measurement and diagnostic systems, and advanced threat-detection solutions. The Defense Technologies segment of the company provides enhanced sensing and decision-support solutions to a wide variety of military, law enforcement, public safety, and other government customers around the world for the protection of borders, troops, and public welfare. The Defense Technologies segment also develops and manufactures sensors, instruments, and integrated platform solutions for the detection, identification, and suppression of chemical, biological, radiological, nuclear, and explosive threats for military force protection, homeland security, and commercial applications.
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The Urban Air Mobility Market is expected to grow at a CAGR of 34.3% from 2025 to 2030, reaching USD 28.3 billion by 2030, up from USD 2.6 billion in 2022.
