The military optronics surveillance and sighting systems market is expected to grow from US$ 15,099.84 million in 2021 to US$ 21,394.01 million by 2028. It is estimated to grow at a CAGR of 5.1% during the period of 2021–2028.
A night vision device provides soldiers with greater situational awareness by illuminating the surroundings during their night-time operations, while thermal imaging help soldiers locate a target in poor visibility conditions. Earlier, night vision devices used relatively heavier components, adding weight to soldiers. However, various market players are focusing on innovation to produce lightweight products keeping their comfort in mind. For example, ACTinBlack has developed a lightweight binocular night vision device with high optical performance and an ergonomic design. Due to the increasing innovation and the rising threat of terrorist attacks at night, the uptake of night vision devices with thermal imaging is also increasing. The demand for highly advanced individual warfighter systems is gaining momentum in various regions. It is more in demand in Europe and North America, where land forces are looking forward to equipping soldiers with optical devices, personnel protective equipment, and intelligence capabilities, enabling them to perform with utmost competence on the modern battlefield. Moreover, high budget allocation for advanced military systems and equipment procurement, territorial disputes among the countries, and increasing attacks at the boarders make imagery a crucial aspect in decision-making processes. This factor is expected to raise the adoption of night vision optoelectronic devices in the military and defense sector over the next few years.
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Military Optronics Surveillance and Sighting Systems Market: Strategic Insights
Market Size Value in US$ 15,099.84 million in 2021 Market Size Value by US$ 21,394.01 million by 2028 Growth rate CAGR of 5.1% from 2021 to 2028 Forecast Period 2021-2028 Base Year 2021
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Military Optronics Surveillance and Sighting Systems Market: Strategic Insights
| Market Size Value in | US$ 15,099.84 million in 2021 |
| Market Size Value by | US$ 21,394.01 million by 2028 |
| Growth rate | CAGR of 5.1% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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Impact of COVID-19 Pandemic on Military Optronics Surveillance and Sighting Systems Market
The US is the largest spending country in military technologies across the world, making North America the leading market for military technologies. Despite the COVID-19 pandemic, the worldwide military expenditure has witnessed a growth of nearly 4% wherein majority of countries, worldwide, have increased their military budget. According to the study, the US accounted for around 29% of the total military optronics surveillance and sighting systems market in 2020 and witnessed a decline of 3.4%, owing to the pandemic challenges that vendors faced. Other countries in this region also faced the demand & supply gap across their respective military technologies markets.
Military technology manufacturers observed drop in deliveries for new defense technologies. Together with cancelation or rescheduling of military orders and delivery, labor shortage, and several other factors, this hampered their businesses and ability to deliver substantial volumes of new products to the customers.
Lucrative Regions for Military Optronics Surveillance and Sighting Systems Providers
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Military Optronics Surveillance and Sighting Systems Market Insights
Increasing Implementation of Next-Gen Technologies in Defense Systems Fuels Growth of Military Optronics Surveillance and Sighting Systems Market
The world is undergoing the ‘fourth industrial’ revolution, characterized by a rapid and converging advances in multiple next-generation technologies, including artificial intelligence (AI). AI is not just 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 three new next-generation infrared spacecraft to help detect enemy ballistic missile launches. In March 2021, Elbit Systems, an 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 a new radar technology by 2035 to deliver unparalleled data processing capability on the battlefield. Technological advancements in the military and defense system are driving the military optronics surveillance and sighting systems market substantially.
Device Type -Based Market Insights
Device Type -Based Market Insights
Based on the device type, the 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. In 2020, the seismic and acoustic sensors segment accounted for the largest market share.
Military Optronics Surveillance and Sighting Systems Market, by Device Type, 2020 and 2028 (%)
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Platform-Based Market Insights
Based on platform, the military optronics surveillance and sighting systems market is categorized into ground, airborne, and naval. In 2020, the ground segment accounted for the largest share in the market.
Leading players operating in the military optronics surveillance and sighting systems market adopt various strategies, such as technological innovations and mergers, acquisitions, and partnerships, to maintain their positions in the market. Some of the developments in this market are listed below:
- In July 2021, under its Night Vision Capability Programme, Organisation Conjointe de Cooperation en matière d’Armement (OCCAR) awarded the contract to a consortium of THEON SENSORS and HENSOLDT for the production and delivery of binocular night vision goggles (BNVG).
- In April 2018, Thales Group and MKU Limited signed two MoUs for strategic co-operation in the production of optronics devices. This strategic co-operation envisages manufacturing of night vision goggles, thermal infrared sensor engine, and hand-held thermal imagers for Indian Army.
The global military optronics surveillance and sighting systems market has been segmented as mentioned below:
By Technology
- Image Intensification
- Military Laser Systems
- Electro-Optics/Infrared
By Device Type
- Night Vision Devices
- Handheld Thermal Imaging Devices
- Integrated Observation Equipment
- Standalone Infrared
- Seismic and Acoustic Sensors
- Others
By Platform
- Ground
- Airborne
- Naval
By Geography
- North America
- US
- Canada
- Mexico
- Europe
- France
- Germany
- Italy
- UK
- Russia
- Rest of Europe
- Asia Pacific (APAC)
- China
- India
- South Korea
- Japan
- Australia
- Rest of APAC
- Middle East & Africa (MEA)
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
- South America (SAM)
- Brazil
- Argentina
- Rest of SAM
Company Profiles
- HENSOLDT
- Lockheed Martin Corporation
- Thales Group
- L3Harris Technologies, Inc.
- Israel Aerospace Industries Ltd.
- Raytheon Technologies Corporation
- Safran
- Ultra
- Teledyne FLIR LLC
- Rafael Advanced Defense Systems Ltd.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Technology, Device Type, and Platform
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The military optronics surveillance & sighting systems have been in use for several years worldwide, however, the technology has been experiencing immense demand in recent years. The noteworthy increasing adoption of light-weight night vision devices is supporting the growth of military optronics surveillance & sighting systems market. Moreover, the increasing implementation of next-gen technologies in defense systems is also the crucial growth parameters for the military optronics surveillance & sighting systems market.
The increasing deployment of UAVs for airborne and naval surveillance and mapping missions is resulting in a growing need for optronics surveillance and sighting system that can be effectively integrated within the UAV platform and will provide growth opportunities to the market players during the forecast period.
The global military optronics surveillance & sighting systems market was dominated by the electro-optics/infrared segment with market share of 45.7% in 2020. The increasing awareness among the market players about the advantages of the electro-optics/infrared is projected to increase investments in the segment, which lead to an increased production and sales, thereby boosting the segment growth. 
In 2020, North America led the market with a substantial revenue share, followed by APAC and Europe. Asia Pacific is a prospective market for military optronics surveillance & sighting systems market players.
The major companies in military optronics surveillance & sighting systems includes Lockheed Martin Corporation, L3Harris Technologies, Inc., Elbit Systems Ltd., Thales Group, and Safran S.A. The ranking has been derived analysing multiple parameters such as annual revenue earned from military optronics surveillance & sighting systems portfolio, client base, geographic locations, R&D expenditure, brand image, and number of employees, among others. These companies are actively participating in developing military optronics surveillance & sighting systems for various applications.
US led the military optronics surveillance & sighting systems market globally with a market share of 72% in the year 2020 followed by Canada and Mexico. Considering growing threat of terrorist activities, demand for military optronics surveillance and sighting systems is anticipated to growing considerably in the North America region in coming years
The List of Companies - Military Optronics Surveillance & Sighting System Market
- Airbus
- Lockheed Martin Corporation
- Thales Group
- General Dynamics Corporation
- L3Harris Technologies Inc
- Israel Aerospace Industries
- Leidos inc
- Rafael Advanced Defense Systems Ltd
- Raytheon Company
- Safran S.A.
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Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
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- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
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