Electro-Optical Targeting System Market Size, Share, Technology, Analysis Forecast to 2028
The market size for electro-optical targeting systems was USD 20.38 billion in 2020 and is expected to reach a value of USD 31.49 billion by 2028.
NEW YORK, NY, UNITED STATES, November 1, 2021 /EINPresswire.com/ – Based on current analysis of reports and data, the Electro-Optical Targeting System Market The size was $ 20.38 billion in 2020 and is expected to reach a value of $ 31.49 billion by 2028, and register a CAGR of 5.50%. The increase in military spending of various countries in the world is an important market indicator of the growth of the Electro-Optical Targeting Systems Market. One of the factors limiting the growth of the market is the cost of equipment which can particularly affect the growth of the market in developing countries.
The electro-optical targeting system is used to track and locate targets in air warfare. The electro-optical targeting system includes an electro-optical sensor that converts light or a change in light into an electronic signal. The increase in military spending in many countries is the main factor contributing to the growth of the electro-optical targeting system. Another factor contributing to the growth of the market is the increasing demand for better sensors that can improve situational awareness in the military battlespace. A major trend observed in the industry is the miniaturization of components in order to reduce the overall weight of the aircraft.
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In the method of forming a prospective infrared system, an imaging lens system is arranged along an optical path in combination with an array of detectors to focus the collimated radiation onto the array of detectors. The array of detectors underlies the field of view along a first direction. An afocal reimaging system is incorporated along the optical path to provide collimated radiation to the imaging lens system, and a scanning device is positioned between the afocal reimaging system and the imaging lens system to vary the image. field of view along a second direction to provide a two-dimensional image.
The increasing complexity of modern defense systems ensures that asymmetric and low-cost threats will continue to proliferate. At the same time, electro-optical targeting systems are proving more and more serious competitors for specific missions: countering soft and close-range targets such as surface explosives, unmanned aerial vehicles, boats. swarm and sensors. As a result, there is now sufficient evidence to identify, with a high degree of confidence, applications where the electro-optical targeting system has a greater likelihood of being a practical tool.
On the basis of the platform, the market has been segmented into air, land and naval. Terrestrial systems occupy the largest share of the market. More and more examples of naval systems are observed around the world by various countries.
Growing security concerns around the world will further increase the demand for electro-optical targeting system during the forecast period 2020-2028.
Other key findings from the report suggest
There has been an increasing demand for better sensors and equipment to gain position knowledge in the battlespace, which further strengthens the market need.
A recent trend in the market has seen market players develop smaller and lighter components, making the aircraft easier to handle.
Lockheed Martin is an industry pioneer, having produced a sensor with both IR and infrared-looking search and tracking capabilities.
The growing demand from various countries trying to improve their battlespace knowledge is the major factor contributing to the growth of the market.
North America occupies the largest share of the market due to the possession of many military aircraft.
Another major factor affecting the growth of the market in the North American region is the prominence of the major market players in the region.
The main participants are Lockheed Martin (USA), L3 Harris, Raytheon, Ebit Systems, Leonardo DRS, BAE Systems, Rheinmetall AG, Collins Aerospace, Thales Group and FLIR Systems Inc.
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For the purpose of this study, reports and data segmented the Electro-Optical Targeting System market on the basis of technology, wavelength, and region:
Technology (Revenue, USD Million; 2018-2028)
Infrared search and tracking
Wavelength (Revenue, USD Million; 2018-2028)
IR at medium wavelength
IR long wavelength
Regional Outlook (Revenue USD Million; 2018-2028)
The rest of europe
Rest of Asia-Pacific
Rest of the world
Middle East and Africa
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Chapter 1. Market synopsis
1.1. Market definition
1.2. Scope and premise of the research
1.4. Market estimation technique
Chapter 2. Executive summary
2.2. Summary overview, 2018 – 2028
Chapter 3. Indicative measures
Chapter 4. Global Electro-Optical Targeting Systems Market Segmentation and Impact Analysis
4.1. Global analysis of the segmentation of electro-optical targeting systems
4.2. Industrial outlook
4.2.1. Analysis of market indicators
4.2.2. Market driver analysis
184.108.40.206. Growing demand for battlespace awareness
220.127.116.11. Growing threats to security
4.2.3. Analysis of market constraints
18.104.22.168. High cost of equipment
4.2.4. Analysis of market opportunities
4.3. Regulatory framework
4.4. Porter’s Five Forces Analysis
4.5. PESTEL analysis of the electro-optical targeting systems market …
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