New York, United States , April 19, 2024 (GLOBE NEWSWIRE) -- The Global Decoy Flares Market Size to Grow from USD 2.2 Billion in 2023 to USD 6.3 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 11.09% during the forecast period.
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The defence and military industries dominate the market for decoy flares, a critical defensive countermeasure against heat-seeking missiles. In an attempt to strengthen their military capabilities, several countries have defence modernization plans that call for modernising and equipping aircraft with cutting-edge self-defense tools like decoy flares. The increased threat of infrared-guided missiles, particularly from adversaries with advanced technological capabilities, is making decoy flare systems increasingly essential. Decoy flares are expected to experience continued innovation in the market, with a focus on developing systems that are more lightweight, portable, and capable of repelling threats from contemporary missiles.
Decoy Flares Market Value Chain Analysis
The people who make decoy flares design, develop, and produce decoy flare systems. This involves assembling structural elements, pyrotechnic materials, and electrical components to produce finished flare products. After they are constructed, decoy flare systems may be installed on aircraft platforms. Flare producers and aircraft integrators need to collaborate in order to ensure proper installation and integration with aircraft avionics systems. Distributors and logistical companies are responsible for storing, distributing, and delivering decoy flare systems to end customers, which may include aerospace contractors, military divisions, and defence agencies. Military institutions, defence contractors, and aircraft manufacturers all utilise decoy flare systems. Military branches and defence agencies purchase decoy flare systems to improve military aircraft survivability against threats from infrared-guided missiles.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the " Global Decoy Flares Market Size By Type (Pyrotechnic Flares, Pyrophoric Flares, Others), By Application (Fixed Wing, Rotary Wing), By Region, And Segment Forecasts, By Geographic Scope And Forecast to 2033."
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Insights by Flares Type
The pyrotechnic flares segment accounted for the largest market share over the forecast period 2023 to 2033. Thermoelectric flares are a very powerful countermeasure against heat-seeking missiles in air defence systems. By diverting the attention of approaching missiles away from the targeted aircraft with their noticeable infrared signature, pyrotechnic flares improve survivability. Pyrotechnic flares have long been a standard countermeasure used by military aircraft. Due to their dependability and efficacy in deflecting heat-seeking missiles, aircraft self-protection systems are the primary driver of the market for pyrotechnic flare solutions. Numerous countries have military modernization plans that call for replacing outdated aircraft self-defense systems with pyrotechnic flare solutions. The amount of money allocated by defence budgets for modernization projects rises in direct proportion to the requirement for pyrotechnic flares to equip military aircraft.
Insights by Application
The fixed wing segment is dominating the market with the largest market share over the forecast period 2023 to 2033. Many countries are investing in this area in order to acquire and modernise fixed-wing aircraft for their air forces, navies, and special operations groups. These aircraft serve as assault, fighter jet, transport, and reconnaissance platforms, among other uses. Fixed-wing aircraft are regularly equipped with contemporary avionics, sensors, and defensive systems as part of worldwide military modernization initiatives. As part of these initiatives, decoy flare systems are installed on fixed-wing platforms to improve their capacity to survive in contested airspace. Manufacturers of fixed-wing aircraft and decoy flare systems can sell their products to overseas customers who want to strengthen their air force capabilities.
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Insights by Region
North America is anticipated to dominate the Decoy Flares Market from 2023 to 2033. North America, and the United States in particular, have some of the biggest defence budgets in the world. The financing of defence modernization projects includes investments in state-of-the-art self-defense tools, like decoy flare systems, to make military aircraft more resilient to missile attacks. Leading businesses and academic institutions in the area—which is a hotbed of technological innovation in the defence and aerospace industries are spearheading the development of decoy flare technology. Investing in research and development (R&D) enables the creation of more dependable and efficient decoy flare systems for the future generation. The North American armed forces perform a range of duties, such as combat missions, training exercises, and peacekeeping.
Asia Pacific is witnessing the fastest market growth between 2023 to 2033. Many countries in the Asia-Pacific region are undertaking military modernization programmes to strengthen their defences and counter emerging security risks. Investing in advanced self-defense tools like decoy flares is part of these modernization initiatives to bolster air defence capabilities. Growing economic growth and security concerns have led to a major increase in defence budgets in the Asia-Pacific region. Due to the fact that China, India, Japan, South Korea, and Australia are the primary defence expenditure countries in the region, decoy flare suppliers and manufacturers have opportunities. The countries of the Asia-Pacific region aim to enhance their market share in the worldwide defence sector. This is particularly true for defence exporters that are just getting started, like India and South Korea.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major Players in the Global Decoy Flares Market include Mil-Spec Industries Corporation, Rheinmetall AG, Owen International, Ordtech, TARA Aerospace AD, LACROIX, Premier Explosives Limited, Elbit Systems Ltd., Armtec Defense Technologies, Rosoboronexport, and Others Key Vendors.
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Recent Market Developments
- In March 2019, Esterline Technologies Corporation was purchased by TransDigm Group Incorporated for USD 3.9 billion.
Market Segmentation
This study forecasts revenue at global, regional, and country levels from 2023 to 2033.
Decoy Flares Market, Type Analysis
- Pyrotechnic Flares
- Pyrophoric Flares
- Others
Decoy Flares Market, Application Analysis
- Fixed Wing
- Rotary Wing
Decoy Flares Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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