Military Airborne Electro Optics Market Report
Military Airborne Electro-Optics Market is Segmented by Aircraft Type (Military Helicopters, Military Aircraft, and Military UAV), by Product Type (Hyperspectral and Multispectral), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
Military Airborne Electro-Optics Market is Segmented by Aircraft Type (Military Helicopters, Military Aircraft, and Military UAV), by Product Type (Hyperspectral and Multispectral), and by Region (North America, ...
Impact of COVID-19 on Military Airborne Electro Optics Market
Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
Due to the rapid surge in conflicts, terrorism, border confrontations, and other threats, modern airborne electro-optics have become indispensable. Governments all over the globe are extensively investing in the procurement and development of advanced airborne solutions to meet their demands for early warning, surveillance, and reconnaissance. The USA is the largest investor in the military aerial sector across the globe. In addition, the country has the largest military aircraft fleet and it extensively focuses on the development of modern airborne technologies.
Moreover, countries such as China, India, Germany, and France, are focusing on the development and deployment of stealth aircraft in the forthcoming years to strengthen their aerial defense capabilities. For example, Germany, Spain, and France are engaged in the development of the stealth fighter aircraft called “Future Combat Air System (FCAS)”, which is expected to replace their fleets of Eurofighter Typhoons in the future. With 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.
Unlike other markets and industries, military/defense was relatively untouched by the pandemic. There were some temporary hiccups in the electro-optical system production mainly due to the supply chain sabotage but the year 2020 remained intact with good demand overall. Even the long-term market perspective seems fruitful with good growth opportunities for the market participants. The market is estimated to grow at a healthy CAGR of 4.8% to reach a value of US$ 3.3 billion by 2027.
The military airborne electro-optics market is segmented based on the aircraft type, product type, and region. On the basis of 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 a 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 faster-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.
In terms of regions, North America is expected to remain the largest market for military airborne electro-optics during the forecast period. 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.
Electro-optical systems for airborne is considered to be a specialized product with the presence of limited players. Most of the major players are extremely diversified with the presence in other business segments. The following are the key players in the military airborne electro-optics market:
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s military airborne electro-optics market realities and future market possibilities for the forecast period of 2022 to 2027. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
The military airborne electro-optics market is segmented into the following categories:
Military Airborne Electro-Optics Market, by Product Type
Military Airborne Electro-Optics Market, by Aircraft Type
Military Airborne Electro-Optics Market, by Region
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The military airborne electro-optics market is estimated to grow at a CAGR of 4.8% over the next five years to reach US$ 3.3 Billion in 2027.
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 LLC, and HENSOLDT are some of the leading players in the military airborne electro-optics market.
North America is estimated to remain dominant in the military airborne electro-optics market in the foreseen future.
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