Airborne Optronics Market to Reach $4.8 billion, Globally, by 2032 at 12.4% CAGR: Allied Market Research

The growth of the global airborne optronics market is driven by factors such as surge in adoption of unmanned aerial vehicles (UAVs), increase in focus on intelligence, surveillance, & reconnaissance (ISR), and surge in defense budgets & expenditure globally.

Wilmington, New Castle, Delaware, April 30, 2024 (GLOBE NEWSWIRE) — Allied Market Research published a report, titled, “Airborne Optronics Markt by System (Reconnaissance system, Targeting system, Search and track system, Surveillance system, Warning/detection system, Countermeasure system, Navigation & Guidance System, and Special Mission System), Technology (Multispectral and Hyperspectral), Application (Commercial, Military, and Space), Aircraft Type (Fixed Wing, Rotary Wing, Urban Air Mobility, and Unmanned Aerial Vehicles), and End Use (OEM, Aftermarket): Global Opportunity Analysis and Industry Forecast, 2023-2032”. According to the report, the airborne optronics market was valued at $1.5 billion in 2022, and is estimated to reach $4.8 billion by 2032, growing at a CAGR of 12.4% from 2023 to 2032. 

Prime determinants of growth 

The growth of the global airborne optronics market is driven by factors such as surge in adoption of unmanned aerial vehicles (UAVs), increase in focus on intelligence, surveillance, & reconnaissance (ISR), and surge in defense budgets and spending globally. However, high costs associated with the development, and complex installation and maintenance of the equipment hamper the growth of the market. On the contrary, development of multispectral and hyperspectral sensors and integration of artificial intelligence (AI) and machine learning to offer remunerative opportunities for the expansion of the airborne optronics market during the forecast period.  

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Report Coverage & Details: 

Report Coverage  Details 
Forecast Period  2023–2032 
Base Year  2022 
Market Size In 2022  $1.5 billion 
Market Size In 2032  $4.8 billion 
CAGR  12.4% 
No. of Pages in Report  250 
Segments Covered  System, Technology, Application, Aircraft Type, End Use, and Region 
Regional scope  North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa 
Country scope  U.S., Canada, Mexico; UK; Germany; France; Russia; China; Japan; India; South Korea; Brazil; Argentina; UAE; Saudi Arabia; South Africa 
Drivers   Adoption of unmanned aerial vehicles (UAVs) 
Increased focus on intelligence, surveillance, Reconnaissance (ISR) 
Surge in defense budgets and spending globally 
Opportunities  Development of multispectral and hyperspectral sensors 
Integration of artificial intelligence (AI) and machine learning 
Restraints  High costs associated with the development 
Complex installation and maintenance of the equipment 

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Impact of Russia–Ukraine War Scenario 

  • On February 24, 2022, Russia invaded Ukraine, leading to the Russo–Ukrainian war. Owing to geopolitical conflicts, there is an emergence of global economic uncertainties. The Russia-Ukraine conflict has had significant implications for the global airborne optronics industry. With geopolitical realignments underway and renewed focus on European defense spending, the crisis has reshaped market dynamics and demand drivers. 
  • Furthermore, the war has compelled many NATO members including Germany, France, and the Netherlands to commit to increased military budgets. This is projected to require billions in additional funds available for all branches of the armed forces, including airborne optronics procurement. 

The special mission system segment to maintain its leadership status throughout the forecast period 

Depending on system, the reconnaissance system segment held the highest market share in 2022, accounting for nearly one-fifth of the global airborne optronics market revenue and is estimated to maintain its leadership status throughout the forecast period. This is attributed to growing demand for real-time intelligence gathering and surveillance capabilities to enhance situational awareness and mission effectiveness. However, the special mission system segment is projected to register the highest CAGR of 15.6% from 2023 to 2032, owing to increasing need for specialized airborne platforms equipped with optronics for tasks such as search and rescue, border surveillance, and environmental monitoring. 

The hyperspectral segment to maintain its leadership status throughout the forecast period 

On the basis of technology, the multispectral segment held the highest market share in 2022, accounting for more than two-thirds of the global airborne optronics market revenue and is anticipated to maintain its leadership status throughout the forecast period owing to rise in adoption due to its ability to capture images across multiple wavelengths, providing enhanced detection, classification, and analysis capabilities. Moreover, the hyperspectral segment is projected to manifest the highest CAGR of 13.2% from 2023 to 2032, owing growing popularity for its ability to capture detailed spectral information, enabling precise identification of objects and materials in various applications such as agriculture, environmental monitoring, and defense. 

The commercial segment to maintain its lead position during the forecast period 

Depending on application, the military segment garnered the largest share in 2022, accounting for more than two-thirds of the global airborne optronics market revenue and is estimated to maintain its leadership status throughout the forecast period owing to surge in defense spending and evolving security threats driving demand for advanced airborne optronics for reconnaissance, surveillance, target acquisition, and threat detection. Moreover, the commercial segment is projected to record the highest CAGR of 13.4% from 2023 to 2032, owing to increase in use of airborne optronics in commercial sectors such as agriculture, infrastructure inspection, and disaster management for improved efficiency and safety. 

The urban air mobility segment to maintain its lead position during the forecast period 

Depending on aircraft type, the fixed wing segment garnered the largest share in 2022, accounting for nearly half of the global airborne optronics market revenue and is estimated to maintain its leadership status throughout the forecast period owing to growing deployment of fixed-wing aircraft for military and commercial applications, driving the demand for airborne optronics systems for surveillance, reconnaissance, and intelligence gathering. Moreover, the urban air mobility segment is projected to record the highest CAGR of 15% from 2023 to 2032, owing to the increasing demand for urban aerial transportation solutions, such as air taxis and cargo drones. The development of compact and lightweight optronics systems tailored for UAM platforms is driving the growth of this segment. 

The OEM segment to maintain its lead position during the forecast period 

By end use, the OEM segment acquired the largest share in 2022, accounting for more than four-fifths of the global airborne optronics market revenue and is estimated to maintain its leadership status throughout the forecast period. The same segment is projected to register the highest CAGR of 12.6% from 2023 to 2032, owing to the development of next-generation aircraft programs, where advanced airborne optronics systems are integrated from the initial design phase. 

Asia-Pacific to maintain its dominance by 2032 

Region wise, North America held the highest market share in terms of revenue in 2022, accounting for nearly one-third of the market revenue and is expected to dominate the market during the forecast period, owing to robust defense spending, technological leadership in the aerospace and defense sectors, and significant investments in unmanned aerial vehicles (UAVs) and ISR capabilities. However, Asia-Pacific is expected to witness the highest CAGR of 15% from 2023 to 2032 as Asia-Pacific region is experiencing growth in the airborne optronics market due to ongoing modernization initiatives by several countries, the expansion of commercial aerospace sectors in growing economies, and the increasing demand for advanced defense capabilities. 

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Leading Market Players

  • Northrop Grumman Corporation 
  • Thales SA 
  • Safran 
  • Teledyne FLIR LLC 
  • Elbit Systems Ltd. 
  • Leonardo S.p.A. 
  • Lockheed Martin Corporation. 
  • Hensoldt AG 
  • Collins Aerospace 
  • L3Harris Technologies, Inc.  

The report provides a detailed analysis of these key players in the global airborne optronics market. These players have adopted various strategies such as contracts, agreements, partnerships, and expansion to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, developments, and product portfolios of every market player.  

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