Airborne optronics market to nearly double in coming years: reportNews
December 27, 2022
DUBLIN, Ireland. The global airborne optronics market will nearly double in the coming years as aircraft fleets expand worldwide, reaching $2.52 billion in 2026, a new report predicts.
The market will grow from $1.29 billion in 2021 to $1.49 billion in 2022 and then $2.52 billion in 2026 for a compound annual growth rate of 14.1%, claims the report from Research and Markets.
The market consists of products like laser warning receivers, laser countermeasures, laser range finders, sighting systems, and fire control and navigation systems, the report states.
"The rapidly increasing need to expand commercial and military aircraft fleets is expected to propel the growth of the airborne optronic market going forward," the report states.
Some of the major players in this market include Thales Group, Leonardo S.p.A., Lockheed Martin, Elbit Systems, L3Harris, Collins Aerospace, BAE Systems, Leidos, and Rafael.