Dublin, Nov. 04, 2022 (GLOBE NEWSWIRE) -- The "Electro Optical Systems - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Electro Optical Systems Market to Reach $14.9 Billion by 2027
Amid the COVID-19 crisis, the global market for Electro Optical Systems estimated at US$11.3 Billion in the year 2020, is projected to reach a revised size of US$14.9 Billion by 2027, growing at a CAGR of 4.1% over the period 2020-2027. Airborne, one of the segments analyzed in the report, is projected to record a 3.5% CAGR and reach US$9.8 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Ground segment is readjusted to a revised 4.7% CAGR for the next 7-year period.
The U.S. Market is Estimated at $4.1 Billion, While China is Forecast to Grow at 5.8% CAGR
The Electro Optical Systems market in the U.S. is estimated at US$4.1 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$2 Billion by the year 2027 trailing a CAGR of 5.8% over the period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.9% and 3.9% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.1% CAGR.
Naval Segment to Record 6.1% CAGR
In the global Naval segment, USA, Canada, Japan, China and Europe will drive the 6.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.2 Billion in the year 2020 will reach a projected size of US$1.8 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets.
Select Competitors (Total 62 Featured)
- BAE Systems PLC
- Collins Aerospace
- Elbit Systems Ltd.
- FLIR Systems, Inc.
- General Dynamics Mission Systems, Inc.
- Instro Precision Limited
- Israel Aerospace Industries
- L3Harris Technologies, Inc.
- Leonardo DRS
- Lockheed Martin Corporation
- Rheinmetall AG
- Saab AB
- Safran S.A.
- Textron Systems
- Thales Group
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Military Electro Optical and Infrared Systems Market: Evolving Defense Needs Support Growth
- Advancements in Defense Electronics and Miniaturization of Military Electronics Support Market Growth
- Growing Use of Sensor-Based Systems in Military Applications Augurs Well for the Market
- With Defense Budgets Coming Under Intense Pressure, EO Systems Market Witnesses Challenging Times
- Defense Spending Trends Set Demand Dynamics for EO Systems
- Improving Target Identification, Threat Assessment and Monitoring: Essential Capabilities of EO Systems
- Growing Emphasis on Border Security Drives Demand for EO Systems
- Continued Threat of Terrorism Drives the Focus on Surveillance as Counterterrorism Response
- Thermal Cameras: An Important System for Securing Borders
- Market Primed to Benefit from the Rising Adoption of High Capability UAVs
- Increasing Use of Drones in the Battlefield Pushes Up Demand for EO/IR Systems
- With Unmanned Aircrafts Posing Threat of Terrorism and Smuggling, EO/IR-based Counter-Drone Systems Grow in Prominence
- Application of EO/IR in Homeland Security and Search and Rescue Missions: Opportunities for Growth
- Technological Advances to Bolster Market Growth
- A Glance at Select Innovations in Electro Optical Systems
- New and Advanced EO Materials
- Ultra-rapid EO Modulator for Converting THz Signals into Optical Signals
- US Companies Offer Support to US Air Force for EO/RF-Related Technology Development
- EO System-Based Coast Guard Technology for Turkey
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
- Total Companies Profiled: 62
For more information about this report visit https://www.researchandmarkets.com/r/s600zi
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