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    Military Platform Electro Optics Market Report

    Military Platform Electro Optics Market Report
    Report code - SR1617 Published On : Jan,2022 No. of Pages: 130
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    Military Platform Electro-Optics Market Size, Share, Trend, Forecast, Competitive Ana See more...

    Impact of COVID-19 on Military Platform Electro Optics Market

    Covid-19 has impacted the market dynamics, competition, and global...

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    Impact of COVID-19 on Military Platform Electro Optics Market

    Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    Market Highlights

    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 the 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. The market is estimated to grow at a healthy CAGR of 4.1% to reach a value of US$ 5.2 billion by 2027.

    Market Segments' Analysis

    Based on the platform type, the military platform electro-optics is 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.

    Based on the product type, 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.

    In terms of regions, North America accounted for the largest market share of the market 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 market. 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.

    Key Players

    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:

    • 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

    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.

    Report Features

    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. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis.
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
    • Market trend and forecast analysis.
    • Market segment trend and forecast.
    • Competitive Landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
    • Attractive market segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for the existing and new players.
    • Key success factors.

    The military platform electro-optics market is segmented into the following categories: 

    Military Platform Electro-Optics Market, by Platform Type

    • Airborne Electro-Optics (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
      • Military Helicopters (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
      • Military Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
      • Military UAV (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Land Electro-Optics (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Naval Electro-Optics (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Military Platform Electro-Optics Market, by Product Type

    • Multispectral Electro-Optics (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Hyperspectral Electro-Optics (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Military Platform Electro-Optics Market, 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)

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    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

    Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com

    Frequently Asked Questions (FAQs)

    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.

    North America is estimated to remain dominant in the military platform electro-optics market in the foreseen future.

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