Target Acquisition Systems Market
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The target acquisition systems market is projected to grow at a CAGR 4.97% rate during the forecast period. Due to the factors are advancements in automatic weapons, increasing defense expenditure of countries, rise in demand for artillery systems by military forces, and ongoing military modernization programs worldwide.
The naval segment is expected to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to the procurement of widely used target acquisition systems, such as destroyers, corvettes, frigates, offshore patrol vessels, unmanned surface vessels, and amphibious ships.
The military segment is expected to lead the market & also expected to grow at a higher CAGR as compared to the homeland security segment during the forecast period. The growing use of unmanned systems for surveillance is expected to drive the demand for the target acquisition systems used in ISR applications. The US has a large contribution to the military modernization programs, and companies focus on the US as it has a huge defense budget.
The short range (0–8 km) segment is expected to grow at the highest CAGR in the market.The growth of the short range segment can be attributed to the increasing demand for short range target acquisition systems for greater accuracy as compared to long-range artillery systems.
Asia Pacific expected to have the highest growth during the forecast period, due to the increase in defense expenditure by India and China and the expansion of military capabilities. Strong domestic production base and increasing use of automatic weapons on combat vehicles and naval platforms are some of the other factors expected to drive the growth of the market in Asia Pacific.
Key Market Players includes Rheinmetall (Germany), BAE Systems (UK), Israel Aerospace Industries (Israel), Aselsan A.S. (Turkey), Elbit Systems (Israel), Hensoldt (Germany), Leonardo (Italy), and Raytheon Company (US), among others.
Key Questions Addressed by the Report
- What are your views on the growth perspective of the market? What are key dynamics and trends that govern the market, such as drivers and opportunities?
- What are the key sustainability strategies adopted by leading players operating in the market?
- What are the new emerging technologies and use cases disrupting the defense Industry?
- What are the key trends and opportunities in the market across different regions and their respective countries?
- Who are the key players and innovators in the partnership ecosystem?
- How is the competitive landscape changing in the client ecosystem and impacting company revenue shares?
2. Research Methodology
Limitation and Assumptions
3. Executive Overview
4. Market Overview
5. Target Acquisition Systems Market, By End-Use
6. Target Acquisition Systems Market, By Platform
7. Target Acquisition Systems Market, By Range
Long Range Target Acquisition Systems
Medium Range Target Acquisition Systems
Short Range Target Acquisition Systems
8. Target Acquisition Systems Market, By Sub-System
Scopes and sights
Detection and locating systems
9. Target Acquisition Systems Market, By Region
Rest of Europe
Rest of APAC
Rest of Middle East
Rest of the World
10. Company Profiles
Bae Systems PLC
Israel Aerospace Industries
Lockheed Martin Corporation
Elbit Systems Ltd.
Instro Precision Limited
Wuhan Joho Technology Co. Ltd.
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