The electro-optical targeting system (EOTS) is an advanced technology developed for aerial warfare. The system is designed to track and locate the targets. Increasing advancements in technology are enhancing its capability for air-to-surface and air-to-air targeting with precision. Every country worldwide is investing a significant amount in strengthening aerial warfare capabilities, which is supporting market growth. In addition, the rising integration of EOTS in UAVs for military operations has created significant demand for the market. Companies such as HENSOLDT, Lockheed Martin Corporation, and IAI, among others are strongly developing the technology meeting defense requirements.
MARKET SCOPE
The "Global Electro-Optical Targeting System Market Analysis to 2028"? is a specialized and in-depth study of the aerospace and defense industry with a special focus on the global market trend analysis. The report aims to provide an overview of the Electro-optical targeting system market with detailed market segmentation by technology, wavelength, and geography. The report provides key statistics on the market status of the leading Electro-optical targeting system market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- On the basis of technology, market is segmented as forward-looking infrared, infrared search and track, both.
- On the basis of wavelength, market is segmented as ultraviolet, near-infrared, SWIR, medium wavelength IR, long wavelength IR.
MARKET DYNAMICS
Drivers:
- Recent advancements in technologies and the growing integration in UAV drives the market growth.
- The increasing R&D investment for the development of electro-optical system to detect drones boosted the market growth.
Restraints:
- Lack of precision in harsh environments may restrain the growth of the electro-optical targeting system market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Electro-optical targeting system market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive Porter's Five Forces analysis, highlighting the factors affecting the Electro-optical targeting system market in these regions
IMPACT OF COVID-19 ON ELECTRO-OPTICAL TARGETING SYSTEM MARKET
The COVID - 19 pandemic has a negative impact on the growth of aerospace, defense, and military industries. The electro-optical targeting system market also witnessed significant loss due to lower production activities and supply chain disruption. However, continuous focus on the advancement of EOTS by market players with rising support from governments has supplemented the market growth in COVID - 19 pandemic. For instance, in April 2021, IAI introduced MegaPOP - a new electro-optical surveillance system for land applications. Similarly, DRDO India also announced a new project for the development of the new electro-optical system to detect drones.
MARKET PLAYERS
The report covers key developments in the electro-optical targeting system market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from Electro-optical targeting system market are anticipated to lucrative growth opportunities in the future with the rising demand for Electro-optical targeting system in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Electro-optical targeting system market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- BAE Systems
- Elbit Systems Ltd.
- L3Harris Technologies, Inc.
- Leonardo DRS
- Lockheed Martin Corporation.
- Raytheon Technologies company
- Rheinmetall AG
- Saab AB
- Teledyne FLIR LLC
- Thales Group