DUBLIN, October 01, 2021– (BUSINESS WIRE) – The report, “Electro-Optical Targeting System Market Size, Share & Analysis, By Technology, Wavelength and Region, Global Forecast to 2028” has been added to ResearchAndMarkets.com offer.
The increased focus on the development of more advanced defense and targeting capabilities in aircraft by the air forces of various countries is a key factor in the growth of market revenues.
Market size – $ 20.38 billion in 2020
Market Growth – CAGR of 5.50%
Market trends – Increased investment in R&D and advanced technologies to strengthen defense capabilities
The global electro-optical targeting systems market size is expected to reach USD 31.49 billion in 2028 and register a CAGR of 5.50% during the forecast period. The growing demand for technologically advanced sensors that can improve situational awareness in the military battlespace, and the emphasis on the miniaturization of system components to reduce weapon weight for easier transport in airplanes are other major factors driving the growth of the global electro-optical targeting system market.
An electro-optical targeting system (EOTS) is used to track and locate targets in air warfare. The electro-optical targeting system includes electro-optical sensors that convert light into an electronic signal. The increase in military spending in various countries is the main factor contributing to the growth of the market currently due to the escalation of tensions at the borders and the growing threat of terrorist attacks and the use of drones to infiltrate the areas. sensitive.
Some key findings from the report:
Among the application segments, the prospective infrared (FLIR) segment accounted for the majority share of revenue in the global market in 2020. FLIR technology is used to create an infrared image of a scene without having to digitize the scene or move the scene. the sensor.
The infrared wavelength detected by thermal cameras differs significantly from that of night vision, which operates in the visible light and near infrared ranges. The growing need for more stealthy, nocturnal activities is driving the advancement and deployment of this technology.
North America accounted for the majority share of revenue in the global market in 2020, due to a well-established air force infrastructure in the countries of the region and the presence of major players operating on the North American market.
The Asia-Pacific market is expected to register the fastest revenue CAGR during the forecast period, owing to the increase in investment in the defense sector by the governments of countries like China, India and the South Korea.
Major market players include Lockheed Martin, L3 Harris, Raytheon, Ebit Systems, Leonardo DRS, BAE Systems, Rheinmetall AG, Collins Aerospace, Thales Group, and FLIR Systems Inc. Major market players are adopting various strategies including mergers and acquisitions. , partnerships and new product developments, among others, to stay ahead of the competition and expand market footprint and revenue share.
Main topics covered:
Chapter 1. Market synopsis
Chapter 2. Executive summary
Chapter 3. Indicative measures
Chapter 4. Global Electro-Optical Targeting Systems Market Segmentation and Impact Analysis
Chapter 5. Global Electro-Optical Targeting Systems Market, Technology Information and Trends
Chapter 6. Global Electro-Optical Targeting Systems Market, Wavelength Overview and Trends
Chapter 7. Regional Outlook of Global Electro-Optical Targeting Systems Market
Chapter 8. Competitive landscape
Chapter 9. Company Profiles
FLIR Systems Inc.
For more information on this report, visit https://www.researchandmarkets.com/r/5xhbbq
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