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The global airborne optronics market size is projected to grow from USD 1.4 billion in 2020 to USD 2.5 billion by 2025, at a CAGR of 12.7% from 2020 to 2025.
The market is driven by various factors, such as a growing fleet of commercial and combat aircraft and increased deployment of electro-optics in unmanned vehicles.
The airborne optronics market includes major players Northrop Grumman Corporation (US), Thales SA (France), Safran (France), FLIR Systems, Inc. (US), and Elbit Systems Ltd. (Israel). These players have spread their business across various countries includes North America, Europe, Asia Pacific, Middle East, Africa, and Latin America. COVID-19 has impacted their businesses as well. Industry experts believe that COVID-19 could affect airborne optronics production and services by 7-10% globally in 2020.
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The introduction of drones in the delivery service market has rapidly transformed the process of deliveries, further leading to a change in consumer behavior. Drones or autonomous unmanned aerial vehicles (UAVs) are a popular option for last-mile deliveries, essentially parcels for remote or rural areas with less population density. Since it is expected that instant or same-day delivery will grow in the next ten years, door-to-door delivery has been a major area of research by several firms such as Google, DHL, UPS, and Amazon. Some of these companies have been testing drone delivery services since 2005 and are expected to launch their services by 2023.
Intelligent Sensing for Audio-Visual Augmented Reality azosensors.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from azosensors.com Daily Mail and Mail on Sunday newspapers.