According to our latest study on "Military Optronics Surveillance and Sighting Systems Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis – by Type, Component, and End User,” the military optronics surveillance and sighting systems market size was valued at US$ US$ 17,358.98 million in 2023 and is expected to reach US$ 26,852.12 million by 2031; it is estimated to record a CAGR of 5.6% from 2023 to 2031.
The military optronics surveillance and sighting systems market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America. Asia Pacific dominated the market in 2023, followed by Europe and North America, respectively. The Europe military optronics surveillance and sighting systems market is segmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The Europe military optronics surveillance and sighting systems market is driven by increasing military spending with a surge in demand for UAVs across the major European countries. According to the Stockholm International Peace Research Institute (SIPRI), Europe’s military spending reached around US$ 596.2 billion in 2023, increased by 6% as compared to 2022. Such rising military spending has created massive demand for military optronics surveillance and sighting systems. In 2022, Europe’s Investment Bank launched the Strategic European Security Initiative to support innovation, research and development, and security infrastructure with technology projects focusing on cybersecurity and national defense security using advanced technologies such as AI and quantum technologies. In June 2023, with changing geopolitical conditions, the European Investment Bank expanded its security and defense spending with an investment of around US$ 8.64 billion.
In terms of revenue, Germany dominated the military optronics surveillance and sighting systems market share. The military optronics surveillance and sighting systems market in Germany is driven by the increasing development of advanced security and surveillance systems by major players in the market. Thales Group, Kappa optronics GmbH, and HENSOLDT GmbH are among the leading players in the market. These players are developing advanced optronics surveillance and sighting systems to meet the national defense sector demand. For instance, in September 2024, HENSOLDT, a German-based defense and security electronics company, launched a new-generation airborne imaging system named ARGOS-15 at Africa’s Aerospace and Defence Expo 2024. This system showcases a significantly advanced build quality with multispectral sensor technology. It is built with modern intelligence technology for surveillance and reconnaissance missions.
Key Findings of Indexable inserts market Study:
The military optronics surveillance and sighting systems market is segmented on the basis of insert shape, application, size, insert material, and industry. By type, the military optronics surveillance and sighting systems market is divided into image intensification, military laser systems and electro-optics or infrared. Based on component, the military optronics surveillance and sighting systems market is categorized into night vision devices, handheld thermal imaging devices, integrated observation equipment, standalone infrared, seismic and acoustic sensors and others. In terms of end user, the military optronics surveillance and sighting systems market is segmented into ground, airborne and naval.
Depending upon the component, the market is segmented into night vision devices, handheld thermal imaging devices, integrated observation equipment, standalone infrared, seismic and acoustic sensors and others. The seismic and acoustic sensors segment held the largest military optronics surveillance and sighting systems market share. Seismic and acoustic sensors are also used in military Platforms for different Platforms including military vehicle detection. These sensors are normally utilized used to military vehicles and monitor the front-line activity & gather intelligence related to vehicular threat. The acoustic sensors witnessed development in their areas. For instance, in November 2017, the expertise in the Army’s research lab has designed & tested a networked acoustic sensor which detects airframe damage on a composite UH-60 Black Hawk helicopters. The Army was learning different methods to monitor integrity of helicopter airframes to detect and locate efficiently & precisely in real-time. Such developments are contributing significantly toward the growth of seismic & acoustic sensors in market.
Integrated observation equipment held the second largest market in 2023. Integrated observation equipment is another device type getting used by the army troops and forces of ground, air, and navy. In November 2020, the soldiers from 82nd Airborne Division utilized new prototype of an Integrated Visual Augmentation System (IVAS) during a trench clearing exercise at Fort Pickett, Virginia (US). The new Microsoft-created IVAS prototype looks like sci-fi version of a tactical dust goggles soldiers wore in last two desert wars. Scheduled for fielding in 2021, IVAS is developed to equip the soldiers with heads-up display that permits them to see tactical maps and their weapon-sight reticle.
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. are among the key players profiled in the military optronics surveillance and sighting systems market report. Several other major players were studied and analyzed during the military optronics surveillance and sighting systems market analysis to get a holistic view of the market and its ecosystem. The military optronics surveillance and sighting systems market also provides detailed market insights, which help the key players strategize their growth. The report includes growth prospects owing to the current military optronics surveillance and sighting systems market trends and their foreseeable impact during the forecast period.
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