Report code - SR1617Published On : Jan,2022No. of Pages: 130
Military Platform Electro-Optics Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2022-2027
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Military Platform Electro-Optics Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2022-2027
Military Platform Electro-Optics Marketby Platform Type (Airborne Electro-Optics [Military Helicopters, Military Aircraft, and Military UAV], Land Electro-Optics, and Naval Electro-Optics), Product Type (Multispectral and Hyperspectral), and Region (North America [The USA, Canada, and Mexico], Europe [Germany, France, The UK, Russia, and Rest of Europe], Asia-Pacific [China, Japan, India, and Rest of Asia-Pacific], and Rest of the World [Brazil, Saudi Arabia, and Others]).
Military Platform Electro-Optics Market by Platform Type (Airborne Electro-Optics [Military Helicopters, Military Aircraft, and Military UAV], Land Electro-Optics, and Naval Electro-Optics), Product Type (Multispectral and Hyperspectral), and Region...
Electro-optics are largely used for military applications on different platforms. These systems include both visible and IR sensors and provide situational awareness in both, day and night time. These systems are largely utilized by military forces for imaging, targeting, and surveillance applications and improve situational awareness during day-night, and low-light conditions. Image stabilization and long-range imaging capabilities are two key elements of these systems. These systems are usually installed on military vehicles, aircraft, ships, and UAVs and their usage is primarily focused on target recognition, tracking mobile targets, surveillance, and imaging, even over great distances and in adverse weather conditions. These advanced systems provide the advantage of stabilized panoramic viewing and targeting. The platform remains one of the key application areas of electro-optics as a whole and captures over 40% of the total electro-optical system market.
Unlike other markets and industries, military/defense was relatively untouched by the pandemic. There were some temporary hiccups in the electro-optical system production mainly due to supply chain sabotage but the year 2020 remained intact with good demand overall. Increasing military expenditure, especially of the major countries, is rendering a positive impact with several colors despite the COVID-19 tsunami in the ecosystem. Even the long-term market perspective seems fruitful with good growth opportunities for the market participants.
Segments' Analysis
Platform Trends
"Airborne platforms segment accounted for the largest market share."
The military platform electro-optics are bifurcated as airborne electro-optics, land electro-optics, and naval electro-optics. In 2021, airborne platforms contributed to a major market share of the market due to the growing usage of electro-optics in UAVs for tracking, surveillance, reconnaissance, and search and rescue. During the projection period, the land platform is expected to grow at a faster pace as compared to the naval platform. Rising geopolitical index across regions in the wake of growing terror threats, territorial conflicts, and border concerns compelled the governments to pay greater attention to surveillance, threat detection, and target identification.
Product Trends
"Multispectral electro-optics segment accounted for the largest market share."
The market is classified as hyperspectral electro-optics and multispectral electro-optics. Between product types, multispectral electro-optics occupy a lion’s share of the market. The multispectral systems commonly collect data from three to six spectral bands in a single observation, whereas the hyperspectral system collects data through several hundred spectral bands in a single acquisition. Such features make multispectral systems cost-effective. Due to their attributes, hyperspectral systems are expensive as they demand more technological advancements to produce more detailed spectral data, which give rise to issues related to increased sensor and image costs along with data volumes and data-processing costs.
Regional Insights
"North America accounted for the largest market share."
North America accounted for the largest market share of the market,and it held a revenue share of more than 40% in 2021, in the wake of huge expenditure on their overall military assets along with the presence of several major players. The USA remains the workhorse of the North American as well as global markets. All the leading electro-optical system providers have a presence in the country to tap the huge market potential. Asia-Pacific, another noticeable region, is expected to witness the fastest growth in the coming five years. Over the years, major countries, such as China and India, have been increasing their military expenditure to solidify their capabilities. Technology advancements remain at the core of these countries.
Electro-optical systems are considered to be specialized products with the presence of limited players. Most of the major players are extremely diversified with the presence in other business segments. The following are the key players in the military platform electro-optics market:
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
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Key questions this report answers
Relevant contents in the report
How big is the sales opportunity?
In-depth analysis of the Military Platform Electro-Optics Market
How lucrative is the future?
Market forecast and trend data and emerging trends
Which regions offer the best sales opportunities?
Global, regional and country level historical data and forecasts
Which are the most attractive market segments?
Market segment analysis and forecast
Which are the top players and their market positioning?
Porter’s five forces analysis, PEST analysis, Life cycle analysis
What are the factors affecting the market?
Drivers & challenges
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10% free customization
The military platform electro-optics market is segmented into the following categories:
By Platform Type
Airborne Electro-Optics
Military Helicopters
Military Aircraft
Military UAV
Land Electro-Optics
Naval Electro-Optics
By ProductType
Multispectral Electro-Optics
Hyperspectral Electro-Optics
By Region
North America (Country Analysis: The USA, Canada, and Mexico)
Europe (Country Analysis: Germany, France, the UK, and Rest of Europe)
Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
Rest of the World (Country Analysis: Brazil, The UAE, and Others)
Research Methodology
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s military platform electro-optics market realities and future market possibilities for the forecast period of 2022 to 2027. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
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Company Profiling
Detailed profiling of additional market players (up to three players)
SWOT analysis of key players (up to three players)
Competitive Benchmarking
Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
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The military platform electro-optics market is estimated to grow at a CAGR of 4.1% over the next five years to reach a value of US$ 5.2 billion by 2027.
L3Harris Technologies, Inc., Raytheon Technologies Corporation, Lockheed Martin Corporation, Leonardo S.p.A., Elbit Systems Ltd., Thales Group, BAE Systems, Northrop Grumman, Safran Group, and Teledyne FLIR LLC are some of the leading players in the military platform electro-optics market.