Decoy Flares Market Growth and Trends
The Decoy Flare market is awaited to rise at a compound annual growth rate of 14.4% meeting approximately USD 3,547.07 million within the years 2020 to 2027. Its growth started levelling up in 2019 at a value of USD 1,172.84 Million. Its market share increased by 48% more than expected. Furthermore, a year over year growth rate of 3.63% has also being anticipated during the forecast period of 7 years.
The key drivers of this market include:
• The increasing number of initiatives taken up for improvisation by key market players.
• The increase in adoption of countermeasures made of robust material within the forecast period highly.
• The widespread awareness and popularity of knowledge gained about airborne dispensable countermeasures.
• The need to capitalize a region’s defense status.
• The assurance to be aware of and address security threats
• The power to tackle terrorism
• The aid given for the governments to regulate their defense budgets out of which the military budget is the market’s main growth driver.
• The developing increase in the aircraft industry thus, increasing the number of aircraft deliveries, innovations to new and modernized flights and helicopters, improvement in geographical segmentation of market.
• The driven demand for advanced countermeasure systems bringing up a rise in novel precaution methods implemented globally.
• The growing development of the missile jamming technology that acts as a massive strength to the market.
Some of the challenges upon the decoy flare market includes:
• A huge decline in the production volumes and quantities. This is a result of poor workforce and restricted human movements that yields less productivity thus, challenging the market with many new innovations that require less human movement and effort.
• The other kinds of defense equipment arising in the market that requires very less time to be accustomed to even if it require minimal workforce. Most of the alternatives to this market do not require specific training to be implemented before utilization.
• The sudden disruptions to the decoy flare supply chain because mankind has opted for quicker and more flexible mediums of military defense thus, abruptly dropping the revenue in the market’s economy.
• Limitations like different flare timing, threats related to handling heat, difference in flare velocity, different flare directions and lack of proper intensity.
Decoy Flares Industry Regional Analysis
Decoy Flares Market Research Report Scope/Definition
For the purpose of this market research, a decoy flare is defined as a self-defense device used by planes or helicopters to deceive an enemy away from its primary target. Missiles are the main threat to military aircraft because of the speed they travel. To evade these missiles, decoy flares are needed to help mislead the missile by different hot targets, thereby giving the plane a chance to escape the enemy. The demand for decoy flares has been boosted by the upgrades made in military fighter jets worldwide. Governments worldwide have rapidly increased their spending on securing military aircraft fleet to assist in securing their borders. This has opened the path for the decoy flare market to expand. Countries like the US, Russia, India, Saudi Arabia, Australia, and others are rapidly raising their annual budgets on air defense systems to ensure their soldiers are well equipped with the latest military gadgets.
Decoy Flares Market Share and Competition
Key companies operating in this industry are: Chemring Group PLC, Armtec Defense Technologies, Mil-Spec Industries Corporation, LACROIX, Mechanical and Chemical Industry Corporation, Owen International, Premier Explosives Limited, Rheinmetall AG, Rosoboronexport, Elbit Systems Ltd., TARA Aerospace AD, Ordtech, MBDA, TransDigm Group Incorporated.
Decoy Flares Market Research Report Analysis Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2021 – 2028)
• Data breakdown for every market segment (2021 – 2028)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Product Analysis (Revenue, USD Million, 2021 - 2028)
• Pyrotechnic Flares
• Pyrophoric Flares
• Highly Flammable Payloads
Caliber Analysis (Revenue, USD Million, 2021 - 2028)
• 1”x1”x8” NATO Square Format
• 2”x1”x8” NATO Square Format
Application Analysis (Revenue, USD Million, 2021 - 2028)
• Fixed Wing
• Rotary Wing
Region Analysis (Revenue, USD Million, 2021 - 2028)
• United States
• United Kingdom
• South Korea
• Middle East
• Rest of World
Decoy Flares Industry Companies
• Chemring Group PLC
• Armtec Defense Technologies
• Mil-Spec Industries Corporation
• Mechanical and Chemical Industry Corporation
• Owen International
• Premier Explosives Limited
• Rheinmetall AG
• Elbit Systems Ltd.
• TARA Aerospace AD
• TransDigm Group Incorporated
Available Versions of Decoy Flares Market: -
United States Industry Research Report
Europe Industry Research Report
Asia Pacific Industry Research Report
India Industry Research Report