Military Optronics Surveillance and Sighting Systems Market | Analysis 2030
Triton Market Research presents the ‘Global Military Optronics Surveillance and Sighting Systems Market’ report sectioned by Machinery (Electro-Optics/Infrared Systems, Military Laser Systems, Image Intensifiers), by Medium (Marine, Aerial, Land), by Product Type (Seismic and Acoustic Sensors, Standalone Infrared Devices, Integrated Observation Equipment, Handheld Thermal Imaging Devices, Night Vision Devices, Other Product Types), and by Regional Outlook (Europe, Middle East and Africa, Asia-Pacific, Latin America, North America).
The report further discusses the Market
Summary, Industry Outlook (Technology Snapshot, Porter’s Five Forces Analysis,
Market Maturity Analysis, Industry Components, Regulatory Framework, Key Buying
Impact Analysis, Key Market Strategies, Drivers, Challenges, Opportunities,
Analyst Perspective), Competitive Landscape, Research Methodology & Scope,
Global Market Size, Forecasts & Analysis (2023-2030).
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Triton’s research report implies that the
global military optronics surveillance and sighting systems market is likely to
observe growth at a CAGR of 5.70% during
the forecast years from 2023 to 2030.
During warlike situations, identifying the
threat of enemies and receiving updates about their strategies is crucial. Such
intel can be obtained via constant surveillance from satellites, aerostats, manned
aircraft, UAVs, boats, ground vehicles, etc. They facilitate quick & easy information
sharing at all levels via advanced communications systems, real-time networks,
and AI. The application of such advanced intel-providing systems is thus
driving the growth of the studied market.
However, the manufacturing process of
several military weapons tends to involve a certain amount of expertise and
experience, which causes them to be relatively expensive. Also, their
maintenance can also prove to be extremely costly as specialized personnel is
required for this purpose. The high cost of military warfare is thus a
hindrance to the market growth.
Globally, the market in the Asia-Pacific is
estimated to grow the fastest, over the assessed period. The growth of this
market can be attributed to the rising political instability in many parts of
the region, which has intensified the need for effective surveillance solutions.
These promising prospects have also garnered the attention of a number of international
market players who have set foot in the region.
Leading names in the military optronics
surveillance and sighting systems market include Thales Group, Northrop Grumman
Corporation, General Dynamics Corporation, Raytheon Technologies Corporation,
Airbus Group SE, Rafael Advanced Defense Systems Ltd, Safran Group, Lockheed
Martin Corporation, BAE Systems PLC, and Israel Aerospace Industries.
The startup costs for aspiring players in
this market are extremely high as it involves investing large sums of money for
manufacturing aerospace & defense systems. Another key reason for difficulty
in entering the market is the strong presence of already existing and
established companies. A new entrant in this market thus relies on government
subsidies, either via grants or through military contracts. The above-stated factors
have reduced the threat of new entrants in the military optronics surveillance
and sighting systems market.
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