North America Military Optronics Surveillance and Sighting Systems Market to Grow at a CAGR of 4.4% to reach US$ 8,328.13 million from 2021 to 2028

report image

North America Military Optronics Surveillance and Sighting Systems Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Technology (Image Intensification, Military Laser Systems, and Electro-Optics/Infrared), Device Type (Night Vision Devices, Handheld Thermal Imaging Devices, Integrated Observation Equipment, Standalone Infrared, Seismic and Acoustic Sensors, and Others), and Platform (Ground, Airborne, Naval)  

Publication Month: Dec 2021 | Report Code: TIPRE00026290 | No. of Pages: 129 | Category: Aerospace and Defense | Status: Published

The military optronics surveillance and sighting systems market in North America is expected to grow from US$ 6,147.19 million in 2021 to US$ 8,328.13 million by 2028; it is estimated to grow at a CAGR of 4.4% from 2021 to 2028.

The US, Canada, and Mexico are major economies in North America. Night vision device provides soldiers with greater situational awareness by illuminating the surroundings during nighttime operations. while thermal imaging help soldiers locate a target in poor visibility conditions. Earlier, night vision devices used relatively heavier components, adding weight to a soldier. Various market players are now introducing lightweight products. For example, ACTinBlack has developed a lightweight binocular night vision device with high optical performance and an ergonomic design. Due to increasing innovation and rising threat of terrorist attacks at night Tthe emergence adoption of night vision devices is also increasing with thermal imaging is due to increasing innovation and rising threat of terrorist attacks at night. The drive toward highly advanced individual warfighter systems is currently picking up speed in various regions majorly in Europe and North America, where land forces are looking forward to equipping soldiers with optical devices, personnel protective equipment, and intelligence capabilities to enable them to perform on the modern battlefield. Moreover, high budget allocation for advanced military systems and equipment procurement, territorial disputes among the countries, and increasing attacks make imagery in decision-making processes crucial will rise the adoption of night vision optoelectronic devices. Thus, Light-weight night vision devices getting highly adopted is the major factor driving the growth of the North America military optronics surveillance and sighting systems market.

The US has the highest military expenditure across the world that makes North America largest market for military technologies. Despite the COVID-19 pandemic, the worldwide military expenditure has witnessed a growth of nearly 4% wherein almost majority of countries have increased their military budget except few of the countries. Moreover, the US is known for its military power and highest spending in defense technology, accounted for around 29% of the total military optronics surveillance & sighting systems market in 2020, according to the study. Also, the US witnessed a decline of 3.4% in FY 2020 in the market owing to the pandemic challenges faced by the vendors for their operations during the FY 2020 where all other countries were also facing the demand and supply gap across their respective military technologies market. In addition, the military technology manufacturers observed drop in deliveries for new defense technologies, cancelation or rescheduling of military orders and deliveries. Also, labor shortage, and other factors that hampered their businesses and ability to deliver substantial volumes of new products to the customers. The increase in order backlogs and orders along with disrupted supply chain led to decline in the revenues of the military optronics surveillance & sighting systems market.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America military optronics surveillance and sighting systems market. The North America military optronics surveillance and sighting systems market is expected to grow at a good CAGR during the forecast period.

North America Military Optronics Surveillance and Sighting Systems

Market Revenue and Forecast to 2028 (US$ Million)

North America Military Optronics Surveillance and Sighting Systems Market Revenue and Forecast to 2028 (US$ Million)

Get more information on this report :

North America Military Optronics Surveillance and Sighting Systems Market Segmentation

North America Military Optronics Surveillance and Sighting Systems Market – By Product Type

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

North America Military Optronics Surveillance and Sighting Systems Market – By Modularity

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

North America Military Optronics Surveillance and Sighting Systems Market – By Industry Vertical

 
  • Ground
  • Airborne
  • Naval

North America Military Optronics Surveillance and Sighting Systems Market, by Country

  • US
  • Canada
  • Mexico

North America Military Optronics Surveillance and Sighting Systems Market - Companies Mentioned  

  • 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
  • Ultra Electronics Holdings plc.
  1. HENSOLDT
  2. Israel Aerospace Industries
  3. L3Harris Technologies Inc.
  4. Lockheed Martin Corporation
  5. Rafael Advanced Defense Systems Ltd.
  6. Raytheon Company
  7. Safran S.A.
  8. Teledyne FLIR LLC
  9. Thales Group
  10. Ultra Electronics Holdings plc.
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the North America military optronics surveillance and sighting systems market
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the North America military optronics surveillance and sighting systems market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth North America market trends and outlook coupled with the factors driving the military optronics surveillance and sighting systems market, as well as those hindering it
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
TIPRE00026290
Your data will never be shared with third parties, however, we may send you information from time to time about our products that may be of interest to you. By submitting your details, you agree to be contacted by us. You may contact us at any time to opt-out.

Get the Latest COVID-19 Analysis on this market




tip-analyst

Have a question?

Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.

Speak To Analyst
Pricing
  • $2000
  • $3000 $2400
  • $4000 $3200
  • $5000 $4000

Sample PDF showcases the content structure and the nature of the information included in the report which presents a qualitative and quantitative analysis.

    Inquire for Discount