Overview and Scope
Military platform electro-optics refers to the integration of electro-optical systems and technologies on military platforms such as aircraft, ground vehicles, ships, and unmanned systems. These electro-optic systems are specifically designed for military applications, providing enhanced visual capabilities, situational awareness, and targeting capabilities to support military operations.
Sizing and Forecast
The military platform electro optics market size has grown steadily in recent years. It will grow from $4.28 billion in 2023 to $4.48 billion in 2024 at a compound annual growth rate (CAGR) of 4.6%. The growth in the historic period can be attributed to modernization initiatives, increased threats and conflicts, demand from naval platforms, airborne surveillance requirements, ground vehicle integration.
The military platform electro optics market size is expected to see steady growth in the next few years. It will grow to $5.31 billion in 2028 at a compound annual growth rate (CAGR) of 4.3%. The growth in the forecast period can be attributed to emphasis on unmanned systems, enhanced targeting for precision strikes, counter-drone applications, advancements in naval electro-optics, integration with command and control (c2) systems. Major trends in the forecast period include integration with unmanned aerial vehicles (uavs), advances in thermal imaging for all-weather operations, development of multi-sensor fusion systems, focus on cybersecurity measures, use of hyperspectral imaging for target discrimination.
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Segmentation & Regional Insights
The military platform electro optics market covered in this report is segmented –
1) By Product Type: Hyperspectral Electro-Optics, Multispectral Electro-Optics
2) By Platform Type: Land Electro-Optics, Naval Electro-Optics, Airborne Electro-Optics
3) By Point Of Sale: Original Equipment Manufacturer (OEM), Aftermarket
North America was the largest region in the military platform electro-optics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global military platform electro-optics market report during the forecast period. The regions covered in the military platform electro optics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The growing threat of terrorism and illegal activity is expected to propel the growth of the military platform electro-optics market going forward. Terrorism refers to the use of violence or the threat of violence, especially against civilians, to achieve political, religious, or ideological goals, whereas illegal activity is any activity that is prohibited by law. Military platform electro-optics help counter terrorism and illegal activity by providing real-time, high-resolution battlefield imagery or other areas of interest. This imagery can identify potential threats, track enemy movements, and assess the damage caused by attacks. For instance, in March 2023, according to the report by the Institute for Economics and Peace (IEP), an Australia-based research organization for developing metrics to analyze peace, the Sahel region in sub-Saharan Africa accounted for 43% of global terrorism deaths. 43% of global terrorism deaths occurred in the Sahel regions of Sub-Saharan Africa. In addition to this, in 2021, the number of global terrorist attacks increased to 5,226 with the majority of attacks in the Middle East and North Africa, followed by South Asia and Sub-Saharan Africa. Therefore, the growing threat of terrorism and illegal activity is driving the growth of the military platform electro-optics market.
Key Industry Players
Major companies operating in the military platform electro optics market report are L3Harris Technologies Inc., Raytheon Technologies Corporation, Lockheed Martin Corporation, Leonardo S.p.A., Elbit Systems Ltd., Thales Group, BAE Systems, Northrop Grumman, Safran Group, Teledyne FLIR LLC, Aselsan AS, Rheinmetall AG, Alpha Design Technologies, Ultra Electronics Holdings, Israel Aerospace Industries, Collins Aerospace, DRS Technologies, FLIR Systems, Harris Corporation, Luminator Technology Group, Opgal Optronics Industries, Rafael Advanced Defense Systems, RADA Electronic Industries, Sierra Olympic Technologies, SPI Corp, Textron Inc., Boeing and Engility, Kratos Defense & Security Solutions Inc., Space Systems Loral, Hensoldt AG
The military platform electro optics market report table of contents includes:
1. Executive Summary
2. Military Platform Electro Optics Market Characteristics
3. Military Platform Electro Optics Market Trends And Strategies
4. Military Platform Electro Optics Market - Macro Economic Scenario
5. Global Military Platform Electro Optics Market Size and Growth
….
31. Global Military Platform Electro Optics Market Competitive Benchmarking
32. Global Military Platform Electro Optics Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Military Platform Electro Optics Market
34. Military Platform Electro Optics Market Future Outlook and Potential Analysis
35. Appendix
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