The Airborne Optronics Market is expected to grow from USD 1.4 billion in 2020 to USD 2.5 billion by 2025, with a CAGR of 12.7%. The market is being driven by factors such as the growing fleet of commercial and military aircraft, and the increased deployment of electro-optics in unmanned vehicles. Major players in the market include Northrop Grumman Corporation, Thales SA, Safran, FLIR Systems, and Elbit Systems Ltd. The COVID-19 pandemic has impacted their businesses, with a predicted 7-10% decrease in production and services in 2020 globally.
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The surveillance system segment is expected to be the largest market, driven by the increasing usage of UAVs in military operations. The multispectral technology is projected to have the highest CAGR, due to the low-cost multispectral imaging system which is ideal for unmanned aircraft. The commercial application segment is also expected to have a high CAGR, with the increasing use of drones in various commercial operations, including preventive maintenance and land surveys. The unmanned aerial vehicle (UAV) aircraft type is projected to grow at the highest CAGR, with UAVs commonly used in military missions and mapping. The OEM end-user segment is also expected to have a high CAGR, as OEMs install optronics in aircraft during the assembly stage and sell to manufacturers and space agencies.
North America is projected to be the largest market for airborne optronics, with the region having a rapid growth of advanced optronics technology. The increasing demand for commercial aircraft and the presence of leading players in the market are expected to drive market growth.
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