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    Target Acquisition System Market Trend & Forecast

    Target Acquisition System Market Trend & Forecast
    Report code - SR2143 Delivery - 2 Weeks
    Target Acquisition System Market Size, Share, Trend, Forecast, Competitive Analysis, and G See more...

    Market Insights

    The target acquisition system market was estimated at US$ 13.59 billion in 2022 and is expected to grow at a CAGR of 5.66% during 2022-2028 to reach US$ 18.92 billion in 2028.

    Want to know more about the market scope: 

    What is Target Acquisition System?

    Target acquisition systems are multipurpose weapons that are used to locate, identify, and detect targets in order to effectively utilize deadly and non-lethal weapons. An enemy commander can employ a variety of resources, including mobile and stationary units, troops, equipment, capabilities, facilities, people, and functions, as part of an operation, and these resources are referred to as targets.

    Target acquisition, as opposed to surveillance on one target and target tracking, may be thought of as the process by which a weapon system chooses which object to latch on to. Due to their expanding usage in intelligence, surveillance, and reconnaissance (ISR) missions, talent acquisition systems are in great demand.

    Along with the missile and bomb guidance mechanisms and battlefield management systems, target acquisition systems also operate in conjunction.

    Target Acquisition System Market Features

    Market Size in 2028

    USD 18.92 billion

    Market Size in 2022

    USD 13.59 billion

    Market Growth (2023-2028)

    GAGR of 5.66%

    Base Year of Study


    Trend Period


    Forecast Period


    Segments Covered

    By Platform Type (Land, Airborne, Naval)

    By Range Type (Short Range (0-8 Km), Medium Range (8-250 Km), Long Range (Above 250 Km))

    By End User Type (Military, Homeland Security)

    Region (North America, Europe, Asia-Pacific, Rest of the world).

    Dominant Region

    North America is estimated to be the leading region in the market during the forecast period.

    Key Players

    The following are the major players in the market:

    • Aselsan AS
    • Instro Precision Limited
    • Israel Aerospace Industries
    • BAE Systems PLC
    • Elbit Systems Ltd
    • Hensoldt
    • Lockheed Martin Corporation
    • Wuhan JOHO Technology Co. Ltd
    • Leonardo SpA
    • Safran SA
    • Raytheon Technologies Corporation
    • Rheinmetall AG
    • Thales Group

    There is stiff competition in the target acquisition systems market. The growth of the companies is directly dependent on industry conditions and government support. These companies differentiate their target acquisition systems based on their quality and penetration in the target and emerging markets.

    Also, some major mergers and acquisitions in the industry recently have significantly influenced the competitive dynamics. For example:

    • In order to create a Medium Altitude Long Endurance (MALE) PROGRAM with a future-proof Intelligence, Surveillance, Target Acquisition, and Reconnaissance (ISTAR) capability, Hensoldt teamed together with Electronica, Indra, and Thales in February 2019.
    • Israel Aerospace Industries received a USD 550.0 million order for its sophisticated Sky Capture air-defense system from a government in the Asia Pacific region in November 2019.
    • HattoriX, a new Forward Observer system from Elbit Systems, was introduced in November 2019. It can acquire Category 1 (CAT-1) targets with a target position inaccuracy of a few meters.
    • Aselsan A.S. and Barzan Holding, a military technology company with headquarters in Qatar, entered into a technology transfer agreement in March 2018 to build Aselsan A.S.'s stabilized advanced remote weapon system and electro-optical reconnaissance and surveillance systems.

    Market Dynamics

    These factors are expected to boost the demand for market in the coming year:

    • The development of automatic weapons.
    • Rising national defence spending.
    • Rise in the need for artillery systems by armed forces.
    • Continuous global military modernization initiatives.

    Want to have a closer look of this market, 

    However, one aspect that might limit the growth of the worldwide target acquisition systems market is the high operational cost of these systems.

    However, the opportunity for the future lies in increasing investment in the research and development (R&D) sector for the creation of technologically sophisticated systems for defence applications.

    The global market for talent acquisition systems is expanding at a large rate as a result of recent technical developments in these systems. These systems are highly sought for in many nations.

    For instance, Israel Aerospace Industries was awarded a 550 million USD contract in November 2018 from an Asia-Pacific nation for the provision of its cutting-edge Sky Capture air-defence system. Therefore, the market for talent acquisition will continue to benefit from additional developments in automatic weaponry.

    The militaries are being compelled to upgrade its fleets of military vehicles and weaponry in order to meet the rising need for ensuring national security against a range of threats.

    Due to this, they are purchasing new platforms equipped with sophisticated target acquisition systems or upgrading current assets by combining cutting-edge sub-systems with improved target acquisition and designation capabilities. This element is anticipated to fuel market expansion in the years to come.

    During the projected period, the target acquisition systems market is anticipated to expand because to the continuous improvements in automated weapons systems and the rising usage of unmanned systems for ISTR operations.

    Several investments/guidelines in the industry have been directed in recent years, which would boost the overall market. Some of them are:

    • According to the Stockholm International Peace Research Institute, worldwide military spending climbed by 2.6% to reach USD 1981 billion in 2020. (SIPRI).
    • However, the current COVID-19 pandemic-related global economic crisis may cause defence spending to decline in the foreseeable future. During the anticipated period, this aspect is anticipated to provide a hurdle to the target acquisition systems market's expansion.
    • The epidemic has decreased industrial output and caused only minor interruptions in the supply chains of important military vehicle and weapon system programs.
    • The participants in the associated supply chains, such as the suppliers of target acquisition systems, have also been harmed by this.

    Segment Analysis

    By Platform Type

    The market is segmented as Land, Airborne, and Naval. According to the platform, the market's naval sector is anticipated to see the largest CAGR growth throughout the forecast period

    The acquisition of extensively utilized target acquisition systems, such as destroyers, corvettes, frigates, offshore patrol boats, unmanned surface vessels, and amphibious ships, can be credited with the expansion of this market.

    By Range Type

    The market is segmented as Short Range, Medium Range, and Long Range. The short range (0–8 km) category is anticipated to see the most CAGR growth throughout the projection period. 

    The need for short-range target acquisition systems, which provide higher precision compared to long-range artillery systems, has contributed to the expansion of the short-range market.

    By End Use Type

    The market is segmented as Military and Homeland Security. During the forecast period, the military sector of the target acquisition systems market is anticipated to develop at a faster CAGR than the homeland security segment.

    The need for target acquisition systems used in ISR applications is anticipated to increase as unmanned systems are increasingly employed for surveillance. Since the US has a sizable defense budget, it contributes significantly to military modernization initiatives, and businesses pay attention to the US.

    Regional Analysis

    Geographically speaking, North America accounted for the highest market share in 2022. Due to the significant demand from the United States, the area is also anticipated to increase at the greatest pace over the projected period.

    Know the global insights. 

    Demand for newer generation target acquisition capabilities is being driven by the nation's massive military expenditures on the development of enhanced offensive and defensive military capabilities. The Advanced Electro-Optical Targeting System (EOTS) for the F-35 Lightning II fighter aircraft was still being developed by Lockheed Martin as of 2019.

    A variety of multi-spectral sensing options, including high-resolution mid-wave infrared (IR), short-wave IR, and near IR, will be available with the Advanced EOTS. Greater dependability and lower operating expenses are further benefits of the sophisticated tracking system.

    During the projected period, Asia Pacific is anticipated to expand at the greatest CAGR because of rising defense spending by China and India as well as the development of military capabilities.

    Some of the other factors anticipated to propel the growth of the target acquisition systems market in Asia Pacific include a strong local production base and an increase in the employment of automatic weapons on combat vehicles and naval platforms.

    Report Features

    The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

    Report – Features

    Market Segmentation


    Regions Covered


    Countries/Sub-Regions Covered


    No. of Figures & Tables


    Company Profiles



    The following are the key features of the report:

    • Industry life cycle and supply chain analysis
    • Environment analysis: Growth drivers and constraints, Porter’s five forces and SWOT analysis
    • Trends and forecast analysis.
    • Segment trends and forecast.
    • Competitive landscape and dynamics: Share, product portfolio, product launches, etc.
    • Attractive market segments and associated growth opportunities
    • Emerging trends
    • Strategic development opportunities for the existing and new players
    • Key success factors

    Research Methodology

    This report offers high-quality insights and is the outcome of 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 book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data.

    We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

    Target Audience

    The target audience of the target acquisition system market includes-

    • Vendors.
    • Manufacturers.
    • Distributors.
    • Organizations.
    • Government Bodies.

    Critical Questions Answered in the Report

    This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global market. The historic years considered for the study are 2017-2028, base year is 2022, estimated year is 2023, and Assessment period is 2023-2028. Following are the critical questions answered in the report.

    • What are the key trends in the global market?
    • How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in next five years?
    • What is the impact of COVID-19 on global market?
    • What are the key strategies adopted by the major vendors to lead in the global market?
    • What is the market share of the top vendors?

    Customization Options

    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 assessment 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)

    Target acquisition systems are multipurpose weapons that are used to locate, identify, and detect targets in order to effectively utilize deadly and non-lethal weapons. An enemy commander can employ a variety of resources, including mobile and stationary units, troops, equipment, capabilities, facilities, people, and functions, as part of an operation, and these resources are referred to as targets.

    The market is expected to grow at a CAGR of 5.66% during 2023-28.

    The market size is estimated to grow from US$ 13.59 billion in 2022 to US$ 18.92 billion in 2028.

    North America is likely to maintain its supremacy in the market throughout the forecast period.

    The major players in the market are Aselsan AS, Instro Precision Limited, Israel Aerospace Industries, BAE Systems PLC, Elbit Systems Ltd, Hensoldt, Lockheed Martin Corporation, Wuhan JOHO Technology Co. Ltd, Leonardo SpA, Safran SA, Raytheon Technologies Corporation, Rheinmetall AG, Thales Group.

    According to the platform, the market's naval sector is anticipated to see the largest CAGR growth throughout the forecast period.

    The development of automatic weapons, rising national defence spending, a rise in the need for artillery systems by armed forces, and continuous global military modernization initiatives are some of the key factors anticipated to propel the market for target acquisition systems.

    The study period of the market is 2017-28.


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