South America Military Optronics Surveillance and Sighting Systems Market is expected to reach US$ 485.74 million by 2028


PRESS RELEASE BY The Insight Partners 19 Jan 2022

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Military Laser Systems Segment is Expected to be Fastest Growing Segment During  the Forecast Period for SAM Region

According to The Insight Partners market research study on “SAM Military Optronics Surveillance and Sighting Systems Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Technology, Device Type, and Platform” is expected to reach US$ 485.74 million by 2028 from 386.00 US$ million in 2021. The market is estimated to grow at a CAGR of 3.3% from 2021 to 2028. The report provides trends prevailing in the SAM military optronics surveillance and sighting systems market along with the drivers and restraints pertaining to the market growth. Light-weight night vision devices gaining popularity is the major factor driving the growth of the SAM military optronics surveillance and sighting systems market. However, issues associated with high setup and maintenance costs hinders the growth of SAM military optronics surveillance and sighting systems market.        

SAM military optronics surveillance and sighting systems market is segmented into technology, device type, platform, and country. The SAM military optronics surveillance and sighting systems market on the basis of technology is segmented into image intensification, military laser systems, electro-optics/infrared. electro-optics/infrared segment held the largest market share in 2020. Based on device type, the SAM military optronics surveillance and sighting systems market is segmented into night vision devices, handheld thermal imaging devices, integrated observation equipment, standalone infrared, seismic and acoustic sensors, and others. Seismic and acoustic sensors segment held the largest market share in 2020. On the basis of platform, the SAM military optronics surveillance and sighting systems market is segmented into ground, airborne, naval. Ground segment held the largest market share in 2020. Based on country, the SAM military optronics surveillance and sighting systems market is segmented into Brazil, Argentina, and rest of SAM. Brazil held the largest market share in 2020.

The COVID-19 pandemic had negatively impacted the entire SAM military technology industry. Countries in the region-imposed lockdowns in early 2020 to curb the spread of the virus, which impaired the entire aviation industry ecosystem. SAM has a very limited number of military optronics, surveillance, and sighting system suppliers for the military forces. Therefore, the region rely heavily on international suppliers. Thus, the market is witnessing a decline in revenues during the COVID-19 pandemic.                                            

HENSOLDT, Israel Aerospace Industries, L3Harris Technologies Inc., Lockheed Martin Corporation, Rafael Advanced Defense Systems Ltd., Raytheon Company, Safran S.A., Teledyne FLIR LLC, Thales Group, and Ultra Electronics Holdings plc. are among the leading companies in the SAM military optronics surveillance and sighting systems market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, In the Frontex technology pilot project, HENSOLDT’s ARGOS-II HD electro optical infra-red system is going to be deployed on two tethered aerostats for delivering extensive security surveillance.     

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