The military optronics surveillance & sighting systems market size is projected to reach US$ 26.35 billion by 2031 from US$ 16.38 billion in 2023. The market is expected to register a CAGR of 6.1% during 2023–2031. Rising demand for multiple data sharing and storing facilities is likely to remain a key trend in the market.

Military Optronics Surveillance & Sighting Systems Market Analysis

The military optronics surveillance and sighting systems market ecosystem comprises material providers, product manufacturers, and end users. The military optronics surveillance and sighting systems manufacturing market players procure materials such as raw materials, components (sensors, cameras, microphones, and others) from various suppliers across the world. The suppliers continuously optimize their production lines and lead times for enhancing the respective supply chain.

Military Optronics Surveillance & Sighting Systems Market Overview

Lockheed Martin Corporation, L3Harris Technologies, Inc., Elbit Systems Ltd., Thales Group, and Safran are among the key market players operating in the global military optronics surveillance & sighting systems market. The key players are listed by considering factors such as overall revenue, current maintenance tooling product portfolio for commercial aviation, geographical reach, market initiatives, investment in technology upgrades, partnerships, and other market-related activities.

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Military Optronics Surveillance & Sighting Systems Market: Strategic Insights

Military Optronics Surveillance & Sighting Systems Market

• 
  CAGR (2023 - 2031)

  6.1%
• Market Size 2023
  US$ 16.38 Billion
• Market Size 2031
  US$ 26.35 Billion

Market Dynamics

GROWTH DRIVERS

• Increasing adoption of light-weight night vision devices
• Increasing implementation of next-gen technologies in defense systems

FUTURE TRENDS

• Rising Demand for Multiple Data Sharing and Storing Facilities

OPPORTUNITIES

• Increasing deployment of optronic systems into UAVs

Key Players

• Airbus
• Lockheed Martin Corporation
• Thales Group
• General Dynamics Corporation
• L3Harris Technologies Inc
• Israel Aerospace Industries
• Leidos inc
• Rafael Advanced Defense Systems Ltd
• Raytheon Company

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Technology

• Image Intensification
• Military Laser Systems
• Electro-Optics/Infrared

Device Type

• Night Vision Devices
• Handheld Thermal Imaging Devices
• Integrated Observation Equipment
• Standalone Infrared
• Seismic and Acoustic Sensors
• Others

Platform

• Ground
• Airborne
• Naval

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Military Optronics Surveillance & Sighting Systems Market Drivers and Opportunities

Increasing Implementation of Next-Gen Technologies in Defense Systems

The world is undergoing a ‘fourth industrial’ revolution, characterized by rapid and converging advances in multiple next-generation technologies, including artificial intelligence (AI). AI is not only undergoing a renaissance in its technical development but is also starting to shape deterrence relations among nuclear-armed states. The potential of weaker nuclear-armed states can be increased with the integration of AI into their military platforms. In January 2021, Lockheed Martin Corp. announced to build three new next-generation infrared spacecraft to help detect enemy ballistic missile launches. In March 2021, Elbit Systems, the Israeli defense company, launched its next-generation advanced multi-sensor payload system (AMPS NG). Team Tempest—a UK technology and a defense partnership formed by BAE Systems, Leonardo, MBDA, Rolls-Royce, and the RAF—announced the development of new radar technology by 2035 to deliver unparalleled data processing capability on the battlespace. Thus, technological advancements in the military and defense system are driving the military optronics surveillance and sighting system market.

Rising Demand for Multiple Data Sharing and Storing Facilities

The evolving technology in optronics surveillance and sighting system is expected to spur the demand for optronics surveillance and sighting system in the near future. The rising demand for various products such as cameras with multiple data sharing and storing facilities will drive market growth. HD cameras with cloud storage facilities will be in high demand to ensure that crucial evidence is intact and is accessible from any smartphone, even if the camera is lost or damaged. The demand for cloud storage and multiple data-sharing products will rise due to the growing need in the military and defense sector. Also, terrorist activities and attacks are propelling the demand for sighting systems. The surge in demand for advanced and accurate surveillance systems across the globe is anticipated to accelerate the demand for optronics surveillance and sighting system.

Military Optronics Surveillance & Sighting Systems Market Report Segmentation Analysis

Key segments that contributed to the derivation of the military optronics surveillance & sighting systems market analysis are technology, product type, and application.

• Based on technology, the military optronics surveillance & sighting systems market is divided into image intensification, military laser systems, and electro-optics/infrared. The electro-optics/infrared segment held a larger market share in 2023.
• Based on device type, the military optronics surveillance & sighting systems market is segmented into night vision devices, handheld thermal imaging devices, integrated observation equipment, standalone infrared, seismic & acoustic sensors, and others. The seismic & acoustic sensors segment held a larger market share in 2023.
• By platform, the market is segmented into ground, airborne, and naval. The ground segment held the largest share of the market in 2023.

Military Optronics Surveillance & Sighting Systems Market Share Analysis by Geography

The geographic scope of the military optronics surveillance & sighting systems market report is mainly divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America.

North America has dominated the market in 2023 followed by Asia Pacific and Europe region. Further, Asia Pacific is likely to witness highest CAGR in the coming years. Growing military spending as a part of GDP is increasing considerably in almost all the developing nations of the world. Owing to growing threat of terrorist attacks in Asia, the demand for surveillance optronics system, sights, scopes and night-visions attachments, target sight system (TSS), laser rangefinders, monitoring systems, and security cameras is expected to grow notably. Terrorist attacks, civil war, and political unrest are among the major factors driving the demand for land and aerial surveillance systems in Africa region as well. Some of the most needed military products for security purpose are night vision goggles (NVG), thermal weapon sights, mini thermal monocular, binoculars, integrated vision solutions, and electro-optical sight systems, In South and Central America, various nations exchange information and insights regarding defense products under respective partnership program. However, there is a great scope for the South American countries to increase their military spending.

Military Optronics Surveillance & Sighting Systems Market Report Scope

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Military Optronics Surveillance & Sighting Systems Market News and Recent Developments

The military optronics surveillance & sighting systems market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the military optronics surveillance & sighting systems market are listed below:

L3Harris Technologies (NYSE:LHX) received a US$ 256 million order from the U.S. Army for continued production of the Enhanced Night Vision Goggle – Binocular (ENVG-B). This is the first order for the ENVG-B’s Program of Record full-scale production IDIQ, which will total nearly US$ 1 billion over 10 years. (Source: L3Harris Technologies Inc, Press Release, Apr 2024)

• QinetiQ US, a leading defense company providing mission-critical solutions to create, test, and use the latest technologies to deliver real world advantages, announced today that the company has been awarded a single award Indefinite Delivery Indefinite Quantity (IDIQ) by the U.S. Army for a Digital Night Vision Technology (DNVT) contract worth up to US$ 92.6 million over four years. (Source: QinetiQ, Press Release, Mar 2023)

Military Optronics Surveillance & Sighting Systems Market Report Coverage and Deliverables

The “Military Optronics Surveillance & Sighting Systems Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Military optronics surveillance & sighting systems market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Military optronics surveillance & sighting systems market trends as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed porter’s five forces analysis
• Military optronics surveillance & sighting systems market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the military optronics surveillance & sighting systems market
• Detailed company profiles