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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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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The 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.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Decoy Flares Market Landscape
4.1 Market Overview
4.2 Porter’s Five Forces Analysis
4.2.1 Bargaining Power of Buyers
4.2.2 Bargaining Power of Suppliers
4.2.3 Threat to New Entrants
4.2.4 Threat to Substitutes
4.2.5 Competitive Rivalry
4.3 Ecosystem Analysis
5. Decoy Flares Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Continuously Growing Defense Expenditure
5.1.2 Upgradation of Existing Fighter Jets and Increasing Procurement of Advanced Fighter & Transport Aircraft
5.2 Market Restraints
5.2.1 Difficulties Associated with the Decoy Flares
5.3 Market Opportunities
5.3.1 Increasing Initiatives by the Key Market Players Likely to Provide Growth Opportunities
5.4 Future Trends
5.4.1 Development of Missile Jamming Decoys and Growing Trend of Smart Decoy Flares
5.5 Impact Analysis of Drivers and Restraints
6. Decoy Flares – Global Market Analysis
6.1 Overview
6.2 Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
6.3 Market Positioning – Global Market Players Ranking
7. Decoy Flares Market Analysis – By Product
7.1 Overview
7.2 Decoy Flares Market, By Product (2019 and 2027)
7.3 Pyrophoric Flares
7.3.1 Overview
7.3.2 Pyrophoric Flares: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
7.4 Pyrotechnic Flares
7.4.1 Overview
7.4.2 Pyrotechnic Flares: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
7.4.3 EM/Chaffs
7.4.3.1 Overview
7.4.3.2 EM/Chaffs: Pyrotechnic Flares: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
7.4.4 MTV
7.4.4.1 Overview
7.4.4.2 MTV: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
7.4.5 Spectral/Multispectral
7.4.5.1 Overview
7.4.5.2 Spectral/Multispectral: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
7.4.6 Kinematic Airborne Countermeasures
7.4.6.1 Overview
7.4.6.2 Kinematic Airborne Countermeasures: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
7.5 Highly Flammable Payloads
7.5.1 Overview
7.5.2 Highly Flammable Payloads: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
8. Decoy Flares Market – By Calibre
8.1 Overview
8.2 Decoy Flares Market, by Calibre (2019 and 2027)
8.3mm
8.3.1 Overview
8.3.2mm: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
8.4mm
8.4.1 Overview
8.4.2mm: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
8.5 1x1x8 Inches NATO Square Format
8.5.1 Overview
8.5.2 1x1x8 Inches NATO Square Format: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
8.6 2x1x8 Inches NATO Square Format
8.6.1 Overview
8.6.2 2x1x8 Inches NATO Square Format: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
9. Decoy Flares Market Analysis – By Application
9.1 Overview
9.2 Decoy Flares Market, By Application (2019 and 2027)
9.3 Fixed Wing Aircraft
9.3.1 Overview
9.3.2 Fixed Wing Aircraft: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
9.4 Rotary Wing Aircraft
9.4.1 Overview
9.4.2 Rotary Wing Aircraft: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
10. Decoy Flares Market – Geographic Analysis
10.1 Overview
10.2 North America: Decoy Flares Market
10.2.1 North America: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
10.2.2 North America: Decoy Flares Market, by Product
10.2.3 North America: Decoy Flares Market, by Caliber
10.2.4 North America: Decoy Flares Market, by Application
10.2.5 North America: Decoy Flares Market, by Key Country
10.2.5.1 US: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
10.2.5.1.1 US: Decoy Flares Market, by Product
10.2.5.1.2 US: Decoy Flares Market, by Caliber
10.2.5.1.3 US: Decoy Flares Market, by Application
10.2.5.2 Canada: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
10.2.5.2.1 Canada: Decoy Flares Market, by Product
10.2.5.2.2 Canada: Decoy Flares Market, by Caliber
10.2.5.2.3 Canada: Decoy Flares Market, by Application
10.2.5.3 Mexico: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
10.2.5.3.1 Mexico: Decoy Flares Market, by Product
10.2.5.3.2 Mexico: Decoy Flares Market, by Caliber
10.2.5.3.3 Mexico: Decoy Flares Market, by Application
10.3 Europe: Decoy Flares Market
10.3.1 Europe: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
10.3.2 Europe: Decoy Flares Market, By Product
10.3.3 Europe: Decoy Flares Market, By Caliber
10.3.4 Europe: Decoy Flares Market, By Application
10.3.5 Europe: Decoy Flares Market, By Country
10.3.5.1 France: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
10.3.5.1.1 France: Decoy Flares Market, by Product
10.3.5.1.2 France: Decoy Flares Market, by Caliber
10.3.5.1.3 France: Decoy Flares Market, by Application
10.3.5.2 Germany: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
10.3.5.2.1 Germany: Decoy Flares Market, by Product
10.3.5.2.2 Germany: Decoy Flares Market, by Caliber
10.3.5.2.3 Germany: Decoy Flares Market, by Application
10.3.5.3 Italy: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
10.3.5.3.1 Italy: Decoy Flares Market, by Product
10.3.5.3.2 Italy: Decoy Flares Market, by Caliber
10.3.5.3.3 Italy: Decoy Flares Market, by Application
10.3.5.4 Spain: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
10.3.5.4.1 Spain: Decoy Flares Market, by Product
10.3.5.4.2 Spain: Decoy Flares Market, by Caliber
10.3.5.4.3 Spain: Decoy Flares Market, by Application
10.3.5.5 UK: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
10.3.5.5.1 UK: Decoy Flares Market, by Product
10.3.5.5.2 UK: Decoy Flares Market, by Caliber
10.3.5.5.3 UK: Decoy Flares Market, by Application
10.3.5.6 Rest of Europe: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
10.3.5.6.1 Rest of Europe: Decoy Flares Market, by Product
10.3.5.6.2 Rest of Europe: Decoy Flares Market, by Caliber
10.3.5.6.3 Rest of Europe: Decoy Flares Market, by Application
10.4 APAC: Decoy Flares Market
10.4.1 APAC: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
10.4.2 APAC: Decoy Flares Market, By Product
10.4.3 APAC: Decoy Flares Market, By Caliber
10.4.4 APAC: Decoy Flares Market, By Application
10.4.5 APAC: Decoy Flares Market, By Country
10.4.5.1 Australia: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
10.4.5.1.1 Australia: Decoy Flares Market, by Product
10.4.5.1.2 Australia: Decoy Flares Market, by Caliber
10.4.5.1.3 Australia: Decoy Flares Market, by Application
10.4.5.2 India: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
10.4.5.2.1 India: Decoy Flares Market, by Product
10.4.5.2.2 India: Decoy Flares Market, by Caliber
10.4.5.2.3 India: Decoy Flares Market, by Application
10.4.5.3 Japan: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
10.4.5.3.1 Japan: Decoy Flares Market, by Product
10.4.5.3.2 Japan: Decoy Flares Market, by Caliber
10.4.5.3.3 Japan: Decoy Flares Market, by Application
10.4.5.4 South Korea: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
10.4.5.4.1 South Korea: Decoy Flares Market, by Product
10.4.5.4.2 South Korea: Decoy Flares Market, by Caliber
10.4.5.4.3 South Korea: Decoy Flares Market, by Application
10.4.5.5 Thailand: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
10.4.5.5.1 Thailand: Decoy Flares Market, by Product
10.4.5.5.2 Thailand: Decoy Flares Market, by Caliber
10.4.5.5.3 Thailand: Decoy Flares Market, by Application
10.4.5.6 Rest of APAC: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
10.4.5.6.1 Rest of APAC: Decoy Flares Market, by Product
10.4.5.6.2 Rest of APAC: Decoy Flares Market, by Caliber
10.4.5.6.3 Rest of APAC: Decoy Flares Market, by Application
10.5 MEA: Decoy Flares Market
10.5.1 MEA: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
10.5.2 MEA: Decoy Flares Market, by Product
10.5.3 MEA: Decoy Flares Market, by Caliber
10.5.4 MEA: Decoy Flares Market, by Application
10.5.5 MEA: Decoy Flares Market, by Key Country
10.5.5.1 Saudi Arabia: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
10.5.5.1.1 Saudi Arabia: Decoy Flares Market, by Product
10.5.5.1.2 Saudi Arabia: Decoy Flares Market, by Caliber
10.5.5.1.3 Saudi Arabia: Decoy Flares Market, by Application
10.5.5.2 UAE: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
10.5.5.2.1 UAE: Decoy Flares Market, by Product
10.5.5.2.2 UAE: Decoy Flares Market, by Caliber
10.5.5.2.3 UAE: Decoy Flares Market, by Application
10.5.5.3 South Africa: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
10.5.5.3.1 South Africa: Decoy Flares Market, by Product
10.5.5.3.2 South Africa: Decoy Flares Market, by Caliber
10.5.5.3.3 South Africa: Decoy Flares Market, by Application
10.5.5.4 Qatar: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
10.5.5.4.1 Qatar: Decoy Flares Market, by Product
10.5.5.4.2 Qatar: Decoy Flares Market, by Caliber
10.5.5.4.3 Qatar: Decoy Flares Market, by Application
10.5.5.5 Rest of MEA: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
10.5.5.5.1 Rest of MEA: Decoy Flares Market, by Product
10.5.5.5.2 Rest of MEA: Decoy Flares Market, by Caliber
10.5.5.5.3 Rest of MEA: Decoy Flares Market, by Application
10.6 SAM: Decoy Flares Market
10.6.1 SAM: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
10.6.2 SAM: Decoy Flares Market, by Product
10.6.3 SAM: Decoy Flares Market, by Caliber
10.6.4 SAM: Decoy Flares Market, by Application
10.6.5 SAM: Decoy Flares Market, by Key Country
10.6.5.1 Brazil: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
10.6.5.1.1 Brazil: Decoy Flares Market, by Product
10.6.5.1.2 Brazil: Decoy Flares Market, by Caliber
10.6.5.1.3 Brazil: Decoy Flares Market, by Application
10.6.5.2 Argentina: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
10.6.5.2.1 Argentina: Decoy Flares Market, by Product
10.6.5.2.2 Argentina: Decoy Flares Market, by Caliber
10.6.5.2.3 Argentina: Decoy Flares Market, by Application
10.6.5.3 Chile: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
10.6.5.3.1 Chile: Decoy Flares Market, by Product
10.6.5.3.2 Chile: Decoy Flares Market, by Caliber
10.6.5.3.3 Chile: Decoy Flares Market, by Application
10.6.5.4 Colombia: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
10.6.5.4.1 Colombia: Decoy Flares Market, by Product
10.6.5.4.2 Colombia: Decoy Flares Market, by Caliber
10.6.5.4.3 Colombia: Decoy Flares Market, by Application
10.6.5.5 Rest of SAM: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
10.6.5.5.1 Rest of SAM: Decoy Flares Market, by Product
10.6.5.5.2 Rest of SAM: Decoy Flares Market, by Caliber
10.6.5.5.3 Rest of SAM: Decoy Flares Market, by Application
11. Impact of COVID-19 Outbreak
11.1 Impact of COVID-19 Pandemic on Global Decoy Flares Market
11.1.1 North America: Impact Assessment of COVID-19 Pandemic
11.1.2 Europe: Impact Assessment of COVID-19 Pandemic
11.1.3 Asia-Pacific: Impact Assessment of COVID-19 Pandemic
11.1.4 Middle East and Africa: Impact Assessment of COVID-19 Pandemic
11.1.5 South America: Impact Assessment of COVID-19 Pandemic
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 New Product Development
13. Company Profiles
13.1.1 Armtec Defense Technologies
13.1.2 Key Facts
13.1.3 Business Description
13.1.4 Products and Services
13.1.5 Financial Overview
13.1.6 SWOT Analysis
13.1.7 Key Developments
13.2 Chemring Group PLC
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 TARA Aerospace AD
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 TransDigm Group Incorporated
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Elbit Systems Ltd.
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 LACROIX
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Mechanical and Chemical Industry Corporation
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 SWOT Analysis
13.7.5 Key Developments
13.8 Mil-Spec Industries Corporation
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Development
13.9 Owen International
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Premier Explosives Limited
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
13.11 Rheinmetall AG
13.11.1 Key Facts
13.11.2 Business Description
13.11.3 Products and Services
13.11.4 Financial Overview
13.11.5 SWOT Analysis
13.11.6 Key Developments
13.12 Rosoboronexport
13.12.1 Key Facts
13.12.2 Business Description
13.12.3 Products and Services
13.12.4 Financial Overview
13.12.5 SWOT Analysis
13.12.6 Key Developments
13.13 Ordtech
13.13.1 Key Facts
13.13.2 Business Description
13.13.3 Products and Services
13.13.4 Financial Overview
13.13.5 SWOT Analysis
13.13.6 Key Developments
13.14 MBDA
13.14.1 Key Facts
13.14.2 Business Description
13.14.3 Products and Services
13.14.4 Financial Overview
13.14.5 SWOT Analysis
13.14.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Word Index
LIST OF TABLES
Table 1. Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
Table 2. North America: Decoy Flares Market, by Product – Revenue and Forecast to 2027 (US$ million)
Table 3. North America: Decoy Flares Market, by Pyrotechnic Flares – Revenue and Forecast to 2027 (US$ million)
Table 4. North America: Decoy Flares Market, by Caliber – Revenue and Forecast to 2027 (US$ million)
Table 5. North America: Decoy Flares Market, by Application – Revenue and Forecast to 2027 (US$ million)
Table 6. US: Decoy Flares Market, by Product –Revenue and Forecast to 2027 (US$ million)
Table 7. US: Decoy Flares Market, by Pyrotechnic Flares – Revenue and Forecast to 2027 (US$ million)
Table 8. US: Decoy Flares Market, by Caliber –Revenue and Forecast to 2027 (US$ million)
Table 9. US: Decoy Flares Market, by Application –Revenue and Forecast to 2027 (US$ million)
The decoy flares market for the fixed wing aircraft segment was worth US$ 205.11 million in 2019 and is projected to reach US$ 672.14 million by 2027; it is expected to grow at a CAGR of 15.4% during the forecast period.
Table 10. Canada: Decoy Flares Market, by Product – Revenue ad Forecast to 2027 (US$ million)
Table 11. Canada: Decoy Flares Market, by Pyrotechnic Flares – Revenue and Forecast to 2027 (US$ million)
Table 12. Canada: Decoy Flares Market, by Caliber – Revenue and Forecast to 2027 (US$ million)
Table 13. Canada: Decoy Flares Market, by Application – Revenue and Forecast to 2027 (US$ million)
Table 14. Mexico: Decoy Flares Market, by Product – Revenue and Forecast to 2027 (US$ million)
Table 15. Mexico: Decoy Flares Market, by Pyrotechnic Flares – Revenue and Forecast to 2027 (US$ million)
Table 16. Mexico: Decoy Flares Market, by Caliber – Revenue and Forecast to 2027 (US$ million)
Table 17. Mexico: Decoy Flares Market, by Application – Revenue and Forecast to 2027 (US$ million)
Table 18. Europe Decoy Flares Market, By Product – Revenue and Forecast to 2027 (US$ million)
Table 19. Europe: Decoy Flares Market, by Pyrotechnic Flares – Revenue and Forecast to 2027 (US$ million)
Table 20. Europe Decoy Flares Market, By Caliber– Revenue and Forecast to 2027 (US$ million)
Table 21. Europe Decoy Flares Market, By Application– Revenue and Forecast to 2027 (US$ million)
Table 22. France Decoy Flares Market, By Product – Revenue and Forecast to 2027 (US$ million)
Table 23. France: Decoy Flares Market, by Pyrotechnic Flares – Revenue and Forecast to 2027 (US$ million)
Table 24. France Decoy Flares Market, By Caliber – Revenue and Forecast to 2027 (US$ million)
Table 25. France Decoy Flares Market, By Application – Revenue and Forecast to 2027 (US$ million)
Table 26. Germany Decoy Flares Market, By Product – Revenue and Forecast to 2027 (US$ million)
Table 27. Germany: Decoy Flares Market, by Pyrotechnic Flares – Revenue and Forecast to 2027 (US$ million)
Table 28. Germany Decoy Flares Market, By Caliber – Revenue and Forecast to 2027 (US$ million)
Table 29. Germany Decoy Flares Market, By Application – Revenue and Forecast to 2027 (US$ million)
Table 30. Italy Decoy Flares Market, By Product – Revenue and Forecast to 2027 (US$ million)
Table 31. Italy: Decoy Flares Market, by Pyrotechnic Flares – Revenue and Forecast to 2027 (US$ million)
Table 32. Italy Decoy Flares Market, By Caliber – Revenue and Forecast to 2027 (US$ million)
Table 33. Italy Decoy Flares Market, By Application – Revenue and Forecast to 2027 (US$ million)
Table 34. Spain Decoy Flares Market, By Product – Revenue and Forecast to 2027 (US$ million)
Table 35. Spain: Decoy Flares Market, by Pyrotechnic Flares – Revenue and Forecast to 2027 (US$ million)
Table 36. Spain Decoy Flares Market, By Caliber – Revenue and Forecast to 2027 (US$ million)
Table 37. Spain Decoy Flares Market, By Application – Revenue and Forecast to 2027 (US$ million)
Table 38. UK Decoy Flares Market, By Product – Revenue and Forecast to 2027 (US$ million)
Table 39. UK: Decoy Flares Market, by Pyrotechnic Flares – Revenue and Forecast to 2027 (US$ million)
Table 40. UK Decoy Flares Market, By Caliber – Revenue and Forecast to 2027 (US$ million)
Table 41. UK Decoy Flares Market, By Application – Revenue and Forecast to 2027 (US$ million)
Table 42. Rest of Europe Decoy Flares Market, By Product – Revenue and Forecast to 2027 (US$ million)
Table 43. Rest of Europe: Decoy Flares Market, by Pyrotechnic Flares – Revenue and Forecast to 2027 (US$ million)
Table 44. Rest of Europe Decoy Flares Market, By Caliber – Revenue and Forecast to 2027 (US$ million)
Table 45. Rest of Europe Decoy Flares Market, By Application – Revenue and Forecast to 2027 (US$ million)
Table 46. APAC: Decoy Flares Market, by Product – Revenue and Forecast to 2027 (US$ million)
Table 47. APAC: Decoy Flares Market, by Pyrotechnic Flares – Revenue and Forecast to 2027 (US$ million)
Table 48. APAC: Decoy Flares Market, by Caliber – Revenue and Forecast to 2027 (US$ million)
Table 49. APAC: Decoy Flares Market, by Application – Revenue and Forecast to 2027 (US$ million)
Table 50. Australia: Decoy Flares Market, By Product – Revenue and Forecast to 2027 (US$ million)
Table 51. Australia: Decoy Flares Market, by Pyrotechnic Flares – Revenue and Forecast to 2027 (US$ million)
Table 52. Australia: Decoy Flares Market, By Caliber – Revenue and Forecast to 2027 (US$ million)
Table 53. Australia: Decoy Flares Market, By Application – Revenue and Forecast to 2027 (US$ million)
Table 54. India: Decoy Flares Market, By Product – Revenue and Forecast to 2027 (US$ million)
Table 55. India: Decoy Flares Market, by Pyrotechnic Flares – Revenue and Forecast to 2027 (US$ million)
Table 56. India: Decoy Flares Market, By Caliber – Revenue and Forecast to 2027 (US$ million)
Table 57. India: Decoy Flares Market, By Application – Revenue and Forecast to 2027 (US$ million)
Table 58. Japan: Decoy Flares Market, By Product – Revenue and Forecast to 2027 (US$ million)
Table 59. Japan: Decoy Flares Market, by Pyrotechnic Flares – Revenue and Forecast to 2027 (US$ million)
Table 60. Japan: Decoy Flares Market, By Caliber – Revenue and Forecast to 2027 (US$ million)
Table 61. Japan: Decoy Flares Market, By Application – Revenue and Forecast to 2027 (US$ million)
Table 62. South Korea: Decoy Flares Market, By Product– Revenue and Forecast to 2027 (US$ million)
Table 63. South Korea: Decoy Flares Market, by Pyrotechnic Flares – Revenue and Forecast to 2027 (US$ million)
Table 64. South Korea: Decoy Flares Market, By Caliber – Revenue and Forecast to 2027 (US$ million)
Table 65. South Korea: Decoy Flares Market, By Application – Revenue and Forecast to 2027 (US$ million)
Table 66. Thailand: Decoy Flares Market, By Product – Revenue and Forecast to 2027 (US$ million)
Table 67. Thailand: Decoy Flares Market, by Pyrotechnic Flares – Revenue and Forecast to 2027 (US$ million)
Table 68. Thailand: Decoy Flares Market, By Caliber – Revenue and Forecast to 2027 (US$ million)
Table 69. Thailand: Decoy Flares Market, By Application – Revenue and Forecast to 2027 (US$ million)
Table 70. Rest of APAC: Decoy Flares Market, By Product – Revenue and Forecast to 2027 (US$ million)
Table 71. Rest of APAC: Decoy Flares Market, by Pyrotechnic Flares – Revenue and Forecast to 2027 (US$ million)
Table 72. Rest of APAC: Decoy Flares Market, By Caliber – Revenue and Forecast to 2027 (US$ million)
Table 73. Rest of APAC: Decoy Flares Market, By Application – Revenue and Forecast to 2027 (US$ million)
Table 74. MEA: Decoy Flares Market, by Product – Revenue and Forecast to 2027 (US$ million)
Table 75. MEA: Decoy Flares Market, by Pyrotechnic Flares – Revenue and Forecast to 2027 (US$ million)
Table 76. MEA: Decoy Flares Market Revenue Share, by Caliber (2019 and 2027)
Table 77. MEA: Decoy Flares Market, by Application– Revenue and Forecast to 2027 (US$ million)
Table 78. Saudi Arabia: Decoy Flares Market, by Product – Revenue and Forecast to 2027 (US$ million)
Table 79. Saudi Arabia: Decoy Flares Market, by Pyrotechnic Flares – Revenue and Forecast to 2027 (US$ million)
Table 80. Saudi Arabia: Decoy Flares Market, by Caliber – Revenue and Forecast to 2027 (US$ million)
Table 81. Saudi Arabia: Decoy Flares Market, by Application – Revenue and Forecast to 2027 (US$ million)
Table 82. UAE: Decoy Flares Market, by Product – Revenue and Forecast to 2027 (US$ million)
Table 83. UAE: Decoy Flares Market, by Pyrotechnic Flares – Revenue and Forecast to 2027 (US$ million)
Table 84. UAE: Decoy Flares Market, by Caliber – Revenue and Forecast to 2027 (US$ million)
Table 85. UAE: Decoy Flares Market, by Application – Revenue and Forecast to 2027 (US$ million)
Table 86. South Africa: Decoy Flares Market, by Product – Revenue and Forecast to 2027 (US$ million)
Table 87. South Africa: Decoy Flares Market, by Pyrotechnic Flares – Revenue and Forecast to 2027 (US$ million)
Table 88. South Africa: Decoy Flares Market, by Caliber – Revenue and Forecast to 2027 (US$ million)
Table 89. South Africa: Decoy Flares Market, by Application – Revenue and Forecast to 2027 (US$ million)
Table 90. Qatar: Decoy Flares Market, by Product – Revenue and Forecast to 2027 (US$ million)
Table 91. Qatar: Decoy Flares Market, by Pyrotechnic Flares – Revenue and Forecast to 2027 (US$ million)
Table 92. Qatar: Decoy Flares Market, by Caliber – Revenue and Forecast to 2027 (US$ million)
Table 93. Qatar: Decoy Flares Market, by Application – Revenue and Forecast to 2027 (US$ million)
Table 94. Rest of MEA: Decoy Flares Market, by Product – Revenue and Forecast to 2027 (US$ million)
Table 95. Rest of MEA: Decoy Flares Market, by Pyrotechnic Flares – Revenue and Forecast to 2027 (US$ million)
Table 96. Rest of MEA: Decoy Flares Market, by Caliber – Revenue and Forecast to 2027 (US$ million)
Table 97. Rest of MEA: Decoy Flares Market, by Application – Revenue and Forecast to 2027 (US$ million)
Table 98. SAM: Decoy Flares Market, by Product – Revenue and Forecast to 2027 (US$ million)
Table 99. SAM: Decoy Flares Market, by Pyrotechnic Flares – Revenue and Forecast to 2027 (US$ million)
Table 100. SAM: Decoy Flares Market, by Caliber – Revenue and Forecast to 2027 (US$ million)
Table 101. SAM: Decoy Flares Market, by Application – Revenue and Forecast to 2027 (US$ million)
Table 102. Brazil: Decoy Flares Market, by Product – Revenue and Forecast to 2027 (US$ million)
Table 103. Brazil: Decoy Flares Market, by Pyrotechnic Flares – Revenue and Forecast to 2027 (US$ million)
Table 104. Brazil: Decoy Flares Market, by Caliber – Revenue and Forecast to 2027 (US$ million)
Table 105. Brazil: Decoy Flares Market, by Application – Revenue and Forecast to 2027 (US$ million)
Table 106. Argentina: Decoy Flares Market, by Product – Revenue and Forecast to 2027 (US$ million)
Table 107. Argentina: Decoy Flares Market, by Pyrotechnic Flares – Revenue and Forecast to 2027 (US$ million)
Table 108. Argentina: Decoy Flares Market, by Caliber – Revenue and Forecast to 2027 (US$ million)
Table 109. Argentina: Decoy Flares Market, by Application – Revenue and Forecast to 2027 (US$ million)
Table 110. Chile: Decoy Flares Market, by Product – Revenue and Forecast to 2027 (US$ million)
Table 111. Chile: Decoy Flares Market, by Pyrotechnic Flares – Revenue and Forecast to 2027 (US$ million)
Table 112. Chile: Decoy Flares Market, by Caliber – Revenue and Forecast to 2027 (US$ million)
Table 113. Chile: Decoy Flares Market, by Application – Revenue and Forecast to 2027 (US$ million)
Table 114. Colombia: Decoy Flares Market, by Product – Revenue and Forecast to 2027 (US$ million)
Table 115. Colombia: Decoy Flares Market, by Pyrotechnic Flares – Revenue and Forecast to 2027 (US$ million)
Table 116. Colombia: Decoy Flares Market, by Caliber – Revenue and Forecast to 2027 (US$ million)
Table 117. Colombia: Decoy Flares Market, by Application – Revenue and Forecast to 2027 (US$ million)
Table 118. Rest of SAM: Decoy Flares Market, by Product – Revenue and Forecast to 2027 (US$ million)
Table 119. Rest of SAM: Decoy Flares Market, by Pyrotechnic Flares – Revenue and Forecast to 2027 (US$ million)
Table 120. Rest of SAM: Decoy Flares Market, by Caliber – Revenue and Forecast to 2027 (US$ million)
Table 121. Rest of SAM: Decoy Flares Market, by Application – Revenue and Forecast to 2027 (US$ million)
Table 122. List of Abbreviation
LIST OF FIGURES
Figure 1. Decoy Flares Market Segmentation
Figure 2. Decoy Flares Market Segmentation – By Geography
Figure 3. Global Decoy Flares Market Overview
Figure 4. Decoy Flares Market, by Geography
Figure 5. Decoy Flares Market, By Product
Figure 6. Decoy Flares Market, By Caliber
Figure 7. Porter’s Five Forces Analysis
Figure 8. Decoy Flare Market – Ecosystem Analysis
Figure 9. Decoy Flares Market Impact Analysis of Drivers and Restraints
Figure 10. Geographic Overview of Decoy Flares Market
Figure 11. Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
Figure 12. Decoy Flares Market Revenue Share, by Product (2019 and 2027)
Figure 13. Pyrophoric Flares: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
Figure 14. Pyrotechnic Flares: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
Figure 15. EM/Chaffs: Pyrotechnic Flares: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
Figure 16. MTV: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
Figure 17. Spectral/Multispectral: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
Figure 18. Kinematic Airborne Countermeasures: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
Figure 19. Highly Flammable Payloads: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
Figure 20. Decoy Flares Market Revenue Share, by Caliber (2019 and 2027)
Figure 21.mm: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
Figure 22.mm: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
Figure 23. 1X1X8 Inches NATO Square Format: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
Figure 24. 2x1x8 Inches NATO Square Format: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
Figure 25. Decoy Flares Market Revenue Share, by Application (2019 and 2027)
Figure 26. Fixed Wing Aircraft: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
Figure 27. Rotary Wing Aircraft: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
Figure 28. Global Decoy Flares Market Revenue Share, by Region (2019 and 2027)
Figure 29. North America: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
Figure 30. North America: Decoy Flares Market Revenue Share, by Product (2019 and 2027)
Figure 31. North America: Decoy Flares Market Revenue Share, by Caliber (2019 and 2027)
Figure 32. North America: Decoy Flares Market Revenue Share, by Application (2019 and 2027)
Figure 33. North America: Decoy Flares Market Revenue Share, by Key Country (2019 and 2027)
Figure 34. US: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
Figure 35. Canada: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
Figure 36. Mexico: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
Figure 37. Europe: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
Figure 38. Europe: Decoy Flares Market Revenue Share, By Product (2019 and 2027)
Figure 39. Europe: Decoy Flares Market Revenue Share, By Caliber (2019 and 2027)
Figure 40. Europe: Decoy Flares Market Revenue Share, By Application (2019 and 2027)
Figure 41. Europe: Decoy Flares Market Revenue Share, By Country (2019 and 2027)
Figure 42. France: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
Figure 43. Germany: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
Figure 44. Italy: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
Figure 45. Spain: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
Figure 46. UK: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
Figure 47. Rest of Europe: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
Figure 48. APAC: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
Figure 49. APAC: Decoy Flares Market Revenue Share, By Product (2019 and 2027)
Figure 50. APAC: Decoy Flares Market Revenue Share, By Caliber (2019 and 2027)
Figure 51. APAC: Decoy Flares Market Revenue Share, By Application (2019 and 2027)
Figure 52. APAC: Decoy Flares Market Revenue Share, By Country (2019 and 2027)
Figure 53. Australia: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
Figure 54. India: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
Figure 55. Japan: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
Figure 56. South Korea: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
Figure 57. Thailand: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
Figure 58. Rest of APAC: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
Figure 59. MEA: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
Figure 60. MEA: Decoy Flares Market Revenue Share, by Product (2019 and 2027)
Figure 61. MEA: Decoy Flares Market Revenue Share, by Caliber (2019 and 2027)
Figure 62. MEA: Decoy Flares Market Revenue Share, by Application (2019 and 2027)
Figure 63. MEA: Decoy Flares Market Revenue Share, by Key Country (2019 and 2027)
Figure 64. Saudi Arabia: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
Figure 65. UAE: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
Figure 66. South Africa: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
Figure 67. Qatar: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
Figure 68. Rest of MEA: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
Figure 69. SAM: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
Figure 70. SAM: Decoy Flares Market Revenue Share, by Product (2019 and 2027)
Figure 71. SAM: Decoy Flares Market Revenue Share, by Caliber (2019 and 2027)
Figure 72. SAM: Decoy Flares Market Revenue Share, by Application (2019 and 2027)
Figure 73. SAM: Decoy Flares Market Revenue Share, by Key Country (2019 and 2027)
Figure 74. Brazil: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
Figure 75. Argentina: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
Figure 76. Chile: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
Figure 77. Colombia: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
Figure 78. Rest of SAM: Decoy Flares Market – Revenue and Forecast to 2027 (US$ million)
Figure 79. Impact of COVID-19 Pandemic in North American Country Markets
Figure 80. Impact of COVID-19 Pandemic in Europe Country Markets
Figure 81. Impact of COVID-19 Pandemic in Asia Pacific Country Markets
Figure 82. Impact of COVID-19 Pandemic in Middle East and Africa Country Markets
Figure 83. Impact of COVID-19 Pandemic in South America Country Markets
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.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
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.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
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.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 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.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- 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.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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