$4550
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In terms of revenue, the global decoy flares market was valued at US$ 1,172.84 million in 2019 and is projected to reach US$ 3,547.07 million by 2027; it is expected to grow at a CAGR of 14.4% during the forecast period from 2020 to 2027.
The decoy flares market is broadly segmented into five major regions—North America, Europe, APAC, MEA, and SAM. In 2019, the global decoy flares market is led by North America region, followed by Europe and the APAC region as second and third highest revenue share contributors. The presence of world’s leading country in terms of military strength, defense spending, and active aircraft inventory such as the US is the key driver for the growth of decoy flare market in the region. In addition to this, the robust growth in aerospace and defense industry in the region owing to the presence of companies such as Lockheed Martin, Northrop Grumman, and Boeing is further complementing the demand of decoy flares in the region. High expenditure in military strength especially in the US, high adoption of advanced weapon systems, and presence of large aircraft and weapon manufacturers are some of the key driving factors that are fueling the growth of decoy flares market over the forecast period of 2020 to 2027.
Regional Decoy Flares Market Analysis (%)
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Market Insights–Decoy Flares Market
Upgradation of Existing Fighter Jets and Increasing Procurement of Advanced Fighter & Transport Aircraft
The upgradation of existing fighter jets is among the major factors that are fueling the adoption of the decoy flares market globally, such as; in a recent Royal Thai Air Force white paper, the organization mentioned various plans such as the upgradation of the Saab Early Warning System, replacement of F-16 fighter jets and L-39s trainers, and also procurement of various transport, helicopters, spy satellites, and unmanned aircraft. Similarly, the Defense Acquisition Council (DAC) approved defense deals worth Rs 38,900 crore in July 2020, including the purchase of 21 MiG-29 Indian Air Force (IAF) fighter jets, the upgradation of 59 existing MiG-29 jets from the IAF inventory, and the purchase from Russia of 12 Su-30MKI aircraft. Such plans and deals of key market players are anticipated to boost the market growth at a high pace in the coming years.
COVID-19 Impact
The outbreak of the COVID-19 during December 2019 and early 2020 has significantly affected the world and is continuing to shatter several countries. Until the outbreak of COVID – 19, the aerospace industry was experiencing substantial growth in terms of production and services, despite huge backlogs from the aircraft manufacturers; however, the manufacturing volumes of aircraft per model contacted to some extent. The production of various defense equipment, weaponry, and countermeasure products also receded. The decline in production volumes is majorly attributed to human movement restrictions, which led the aircraft and other defense product manufacturers to operate with a limited workforce. This slightly negatively impacted the growth rate of the decoy flares market during Q1 and Q2 of 2020. However, most of the defense contracts are of a longer period, which helped the contractors maintain their operational efficiency. Since the defense aircraft manufacturers continued their production with an aim to deliver the products to respective customers on-time, the demand for decoy flares continued to flow at a slower rate. However, due to supply chain disruptions, the decoy flare market experienced a drop in revenue generation.
Product Segment Insights
Based on product, the pyrotechnic flares segment dominated lead the global decoy flares market in 2019. The increasing application of pyrotechnic flares in military aircraft is one of the major factor driving the growth of the segment. In addition, the pyrotechnic flares produce white light and smoke that is highly visible. They ignite when expelled and generate a large amount of infrared energy for 5 to 10 seconds to distract and confuse the missile's seeker.
Calibre Segment Insights
Based on calibre, the 1x1x8 inch NATO square format segment dominated lead the global decoy flares market in 2019. The decoy flares market players offer their respective customers with a wide variety of caliber decoy flares. Traditionally, the circular decoy flares were supplied with calibers of 26mm and 50mm. However, with the advancements in airborne countermeasure technologies and aircraft models, the decoy flare manufacturers are continuously upgrading their products, and in the current scenario, the NATO square format calibers are majorly adopted by the aircraft OEMs and defense forces.
Application Segment Insights
Based on application, the fixed wing aircraft segment dominated the global decoy flares market in 2019. Fixed wing refers to the application of decoy flares on defense aircraft. The increase in government spending across the world on procurement of transport aircraft fleet as well combat aircraft fleet for securing respective nation’s borders is paving the growth path for the decoy flare market.
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Decoy Flares Market: Strategic Insights
Market Size Value in US$ 1,172.84 Million in 2019 Market Size Value by US$ 3,547.07 Million by 2027 Growth rate CAGR of 14.4% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Decoy Flares Market: Strategic Insights
Market Size Value in | US$ 1,172.84 Million in 2019 |
Market Size Value by | US$ 3,547.07 Million by 2027 |
Growth rate | CAGR of 14.4% from 2020-2027 |
Forecast Period | 2020-2027 |
Base Year | 2020 |
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Speak to AnalystThe market players focus on new product innovations and developments by integrating advanced technologies and features in their products to compete with the competitors.
- In 2019, TransDigm Group Incorporated acquired Esterline Technologies Corporation for US$3.9 billion.
- In 2019, Chemring Group PLC received a contract from US Navy and US Air Force to deliver MJU-66 flares worth US $8.1 million against its existing three-year Indefinite Delivery/Indefinite Quantity (IDIQ) contract.
- In 2019, BAE Systems was awarded a US$ 36.7 million contract by the U.S. Navy to develop and demonstrate a next-generation, dual band Fiber-Optic Towed Decoy (FOTD) to protect aircraft and pilots from advanced threats.
The global decoy flares market has been segmented as follows:
Decoy Flares Market – By Products
- Pyrotechnic Flares
- Pyrophoric Flares
- Highly Flammable Payloads
Decoy Flares Market – By Caliber
- 26mm
- 50mm
- 1”x1”x8” NATO Square Format
- 2”x1”x8” NATO Square Format
Decoy Flares Market – By Application
- Fixed Wing
- Rotary Wing
Decoy Flares Market- By Region
- North America
- US
- Canada
- Mexico
- Europe
- France
- Germany
- Italy
- UK
- Russia
- Rest of Europe
- Asia Pacific (APAC)
- Thailand
- India
- South Korea
- Japan
- Australia
- Rest of APAC
- Middle East and Africa (MEA)
- South Africa
- Saudi Arabia
- UAE
- Qatar
- Rest of MEA
- South America (SAM)
- Brazil
- Chile
- Argentina
- Colombia
- Rest of SAM
Decoy Flares Market – Companies Profiles
- Chemring Group PLC
- Armtec Defense Technologies
- Mil-Spec Industries Corporation
- LACROIX
- Esterline Technologies Corporation
- Owen International
- Premier Explosives Limited
- Rheinmetall AG
- Rosoboronexport
- Elbit Systems Ltd.
- TARA Aerospace AD
- Ordtech
- MBDA
- TransDigm Group Incorporated
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Products , Caliber , Application , and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, Chile, Colombia, France, Germany, India, Italy, Japan, Mexico, Qatar, Saudi Arabia, South Africa, South Korea, Spain, Thailand, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
North America led the decoy flares market in 2019. The presence of world’s leading defense spending country such as the US is the key driver for the growth of decoy flare market in the region. The aerospace and defense industry in the North America region is the largest innovator as well as producer of technologically superior aircrafts, fighter jets, and defense systems across the globe. The high focus on building military strength as a strategic priority is driving the investments in building defense industrial base across the North America region, especially in the US.
The upgradation of existing fighter jets is among the major factors that are fueling the adoption of the decoy flares market globally, such as; in a recent Royal Thai Air Force white paper, the organization mentioned various plans such as the upgradation of the Saab Early Warning System, replacement of F-16 fighter jets and L-39s trainers, and also procurement of various transport, helicopters, spy satellites, and unmanned aircraft. Similarly, the Defense Acquisition Council (DAC) approved defense deals worth Rs 38,900 crore in July 2020, including the purchase of 21 MiG-29 Indian Air Force (IAF) fighter jets, the upgradation of 59 existing MiG-29 jets from the IAF inventory, and the purchase from Russia of 12 Su-30MKI aircraft. Such plans and deals of key market players are anticipated to boost the market growth at a high pace in the coming years.
Fixed wing aircraft led the decoy flare market, based on application. Fixed wing refers to the application of decoy flares on defense aircraft. The increase in government spending across the world on procurement of transport aircraft fleet as well combat aircraft fleet for securing respective nation’s borders is paving the growth path for the decoy flare market. Countries such as the US, China, India, Russia, Saudi Arabia, and others are significantly increasing their year on year air defense budgets with an objective to modernize the soldiers, aircraft fleet, and other vehicles. A fair percentage of military budgets is focused on procuring advanced aircraft and robust combatting technologies on aircraft.
The List of Companies - Decoy Flares Market
- Armtec Defense Technologies
- Chemring Group PLC
- TARA Aerospace AD
- TransDigm Group Incorporated
- Elbit Systems Ltd.
- LACROIX
- Mechanical and Chemical Industry Corporation
- Mil-Spec Industries Corporation
- Owen International
- Premier Explosives Limited
- Rheinmetall AG
- Rosoboronexport
- Ordtech
- MBDA
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
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As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
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For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
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Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
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- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
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- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
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