DUBLIN--(BUSINESS WIRE)--The "Electro Optical Systems - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Amid the COVID-19 crisis, the global market for Electro Optical Systems estimated at US$11.3 Billion in the year 2020, is projected to reach a revised size of US$14.2 Billion by 2026, growing at a CAGR of 4.1% over the analysis period.
Airborne, one of the segments analyzed in the report, is projected to record a 3.5% CAGR and reach US$9.8 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Ground segment is readjusted to a revised 4.7% CAGR for the next 7-year period.
Airborne platforms are emerging as an important resource for defense forces to ensure an efficient and robust security & surveillance environment. The growth of airborne segment is likely to be supported by the increasing use of these systems in UAV applications including surveillance, mapping, search & rescue and reconnaissance that require cameras to capture data and transfer video information to ground control stations.
The U.S. Market is Estimated at $4.2 Billion in 2021, While China is Forecast to Reach $1.8 Billion by 2026
The Electro Optical Systems market in the U.S. is estimated at US$4.2 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.8 Billion by the year 2026 trailing a CAGR of 5.8% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.9% and 3.9% respectively over the analysis period.
Select Competitors (Total 62 Featured) -
- BAE Systems PLC
- Collins Aerospace
- Elbit Systems Ltd.
- FLIR Systems, Inc.
- General Dynamics Mission Systems, Inc.
- Instro Precision Limited
- Israel Aerospace Industries
- L3Harris Technologies, Inc.
- Leonardo DRS
- Lockheed Martin Corporation
- Rheinmetall AG
- Saab AB
- Safran S.A.
- Textron Systems
- Thales Group
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of Covid-19 and a Looming Global Recession
- Worsening COVID-19 and Economic Scenario Dampens Outlook for Electro Optical (EO) Systems, But Provides a Burning Platform for Innovation: Confirmed COVID-19 Cases Per Million in June Vs GDP Per Capita Vs GDP Growth for 2020
- Electro Optical Systems Market: Prospects and Outlook
- Military Applications Boost Growth in Electro-Optical System Market
- North America Leads Global EO Systems Market
- Competition
- Key Brands in Electro Optical Industry
- Recent Market Activity
- Electro Optical Systems - Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Military Electro Optical and Infrared Systems Market: Evolving Defense Needs Support Growth
- Advancements in Defense Electronics and Miniaturization of Military Electronics Support Market Growth
- Growing Use of Sensor-Based Systems in Military Applications Augurs Well for the Market
- With Defense Budgets Coming Under Intense Pressure, EO Systems Market Witnesses Challenging Times
- Defense Spending Trends Set Demand Dynamics for EO Systems: Defense Expenditure Worldwide in US$ Billion for the Years 2001 through 2018
- Leading Countries Ranked by Defense Budgets in US$ Billion for 2019
- Improving Target Identification, Threat Assessment and Monitoring: Essential Capabilities of EO Systems
- Growing Emphasis on Border Security Drives Demand for EO Systems
- Continued Threat of Terrorism Drives the Focus on Surveillance as Counterterrorism Response: Global Number of Fatalities (in '000) Due to Terrorist Attacks: 2010-2018
- Thermal Cameras: An Important System for Securing Borders
- Market Primed to Benefit from the Rising Adoption of High Capability UAVs
- Increasing Use of Drones in the Battlefield Pushes Up Demand for EO/IR Systems: Global Market for Military Drones (In US$ Billion) for the Years 2018, 2020, 2022 and 2024
- With Unmanned Aircrafts Posing Threat of Terrorism and Smuggling, EO/IR-based Counter-Drone Systems Grow in Prominence
- Application of EO/IR in Homeland Security and Search and Rescue Missions: Opportunities for Growth
- Technological Advances to Bolster Market Growth
- A Glance at Select Innovations in Electro Optical Systems
- New and Advanced EO Materials
- Ultra-rapid EO Modulator for Converting THz Signals into Optical Signals
- US Companies Offer Support to US Air Force for EO/RF-Related Technology Development
- EO System-Based Coast Guard Technology for Turkey
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/hawx82
