Decoy Flares Market Size and Share: 2021 to 2031 Key Findings
The Decoy Flares Market size is projected to reach US$ 4.86 billion by 2031 from US$ 1.83 billion in 2023. The market is expected to register a CAGR of 13.0% in 2023–2031. The introduction of smart decoy flares and missile jamming decoys is one of the major trends likely to drive the market for decoy flares in the coming years. Several countries have been integrating the same into their respective armed forces for advancing their weaponries.
Decoy Flares Market Analysis
The 1x1x8 inches NATO square format decoy flares are among the most widely accepted decoy flare calibers. This is due to the versatility of the caliber to integrate itself onto various aircraft models. The North American and European (except Russia) aircraft manufacturers highly prefer integrating 1x1x8 inches NATO square format decoy flares. Some of the aircraft models that are capable of carrying 1x1x8 inches NATO square format decoy flares include; Apache AH-64, F-16, A-10, Ch-47 Chinook, C-130, and A400M. The production volumes of the above-mentioned aircraft models continue to surge each year, which reflects the rise in demand for 1x1x8 inches NATO square format decoy flares, which drives the decoy flares market.
Decoy Flares Market Overview
The key stakeholders in the decoy flare market are raw material suppliers, decoy flare manufactures, and end users. The manufacturers of decoy flares constantly procure raw material from the suppliers in order to produce increased volumes of decoy flare with an objective to meet the demands from the customers. The raw materials used in production of decoy flare include chemical energy substance (pyrotechnic components), and shells. The availability of large number of raw material suppliers enable the decoy flares market players to choose the appropriate supplier. This enhances the supply chain of the decoy flare market. Upon procuring raw materials, the decoy flare market players produce significant volumes of decoy flare with varied calibers, thereby, meeting respective customer demands. The end users in the decoy flares market include aircraft/helicopters manufacturers and the defense forces. These end users require significant volumes of decoy flare in order to integrate the same on the newer aircraft models as well as existing fleets.
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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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Decoy Flares Market Drivers and Opportunities
Rising Procurement of Combat Aircraft & Helicopters
The rising procurement of military combat aircraft and combat helicopters across the world is one of the major factors driving the installation of decoy flares across different regions. For instance, in April 2023, the US DoD awarded a contract worth US$ 7.8 billion to Lockheed Martin Corporation for the modification of 126 units of F-35 multi-role aircraft. Similarly, in December 2023, the German Bundeswehr and Airbus Helicopters signed a contract for the purchase of up to 82 multi-role H145M helicopters (62 firm orders plus 20 options). Additionally, in June 2022, Spain ordered 20 Eurofighter jets from Airbus under landmark contract to modernise its combat aircraft fleet. Such contracts have been pushing the deployment of decoy flares into the military aircraft and helicopter platforms.
Deployment of Combat UAVs to Drive the Market Growth in The Coming Years
The rising procurement of military drones for ISR & combat operations is another major factor likely to generate new opportunities for decoy flare market vendors in the coming years. Several countries have started deploying combat drones into their respective military fleets to advance their warfare capabilities which is driving the market for different types of weapons and countermeasure systems as well. Further, as per several defense sector sources, Russia recently (in 2024) have deployed decoy flares-based missile into Ukraine’s territory to surpass the Ukrainian radars. Such emerging applications are likely to generate new opportunities for market vendors during the forecast period.
Decoy Flares Market Report Segmentation Analysis
Key segments that contributed to the derivation of the Decoy Flares Market analysis are products, caliber, application, and geography.
- Based on products, the Decoy Flares Market has been segmented into pyrotechnic flares, pyrophoric flares, highly flammable payloads. The highly flammable payloads segment held a larger market share in 2023.
- By caliber, the Decoy Flares Market has been segmented into 26mm, 50mm, 1”x1”x8” NATO square format, 2”x1”x8” NATO square format. The 1”x1”x8” NATO square format segment held the largest share of the market in 2023.
- Based on application, the Decoy Flares Market has been bifurcated into fixed wing and rotary wing. The fixed wing segment held a larger market share in 2023.
Decoy Flares Market Share Analysis by Geography
The geographic scope of the Decoy Flares Market report is mainly divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America.
North America has dominated the Decoy Flares Market in 2023, whereas, Asia Pacific region is likely to witness a significant growth during the forecast period. Geographically, North America is the major investor in the decoy flares market, due to presence of large number of military aircraft OEMs in the region. The players include companies such as Lockheed Martin Corporation, Boeing, General Dynamics, and Airbus. Further, the demand for decoy flares in North America is also driven by the presence of the US which is the largest military spending country across the world and has largest fleet of military aircraft and helicopters compared to any other country globally. Such factors have been driving the growth of decoy flares market in the North America region.
Decoy Flares Market Report Scope
Decoy Flares Market News and Recent Developments
The Decoy Flares Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for decoy flares market and strategies:
- In January 2024, Rheinmetall secured a contract (2024-2029) worth US$ 54.4 million to supply aircraft decoy flares for the German armed forces under which Rheinmetall will be supplying 470,000 decoy flares to the Berlin forces. (Source: Rheinmetall, Press Release/Company Website/Newsletter)
- In October 2021, Chemring Australia received an US$ 18.69 million contract modification (including US$ 2.67 million in FMS funds) from Naval Air Systems Command to produce and deliver 9,728 MJU-68/B IR flare countermeasures: 7,256 for the US Navy and 1,152 for the US Air Force; 528 for Norway; 336 for Japan; 312 for the Netherlands; and 144 for Italy. (Source: Chemring Group, Press Release/Company Website/Newsletter)
Decoy Flares Market Report Coverage and Deliverables
The “Decoy Flares Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed Porter’s Five Forces analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles with SWOT analysis
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
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
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.
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- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
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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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