Military Optronics Surveillance and Sighting Systems Market | Overview 2030

A recent study by Triton Market Research titled 'Global Military Optronics Surveillance and Sighting Systems Market' includes the Global Analysis and Forecasts by Product Type (Standalone Infrared Devices, Seismic and Acoustic Sensors, Integrated Observation Equipment, Night Vision Devices, Handheld Thermal Imaging Devices, Other Product Types), by Medium (Marine, Land, Aerial), by Machinery (Military Laser Systems, Electro-Optics/Infrared Systems, Image Intensifiers), and Regional Outlook (Asia-Pacific, Middle East and Africa, Latin America, Europe, North America).

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Triton Market Research's report indicates that the global military optronics surveillance and sighting systems market is set to advance at a CAGR of 5.70% during the forecast period 2023-2030, reaching a revenue of $26988.81 million by 2030.

Subnational conflicts with strong trans-border dimensions are common forms of conflict worldwide. As a result, several nations have raised their military expenditure, especially to secure their borders. This has led to enhanced deployment of modern military systems across borders for surveillance and information-gathering missions for military preparedness in case of warlike conditions. This is a key driver for the military optronics surveillance and sighting systems market's growth.

Cases of cyber-attacks have progressed from stealing & misusing data to manipulating weaponry and other key infrastructure. They are being used for espionage, manipulation & theft of confidential & strategic data, or even the takeover of key operating systems. The incidence of these attacks is on the rise, which increases the risk of military optronics surveillance and sighting systems being tampered with. This, as a result, has negatively affected market growth.

The military optronics surveillance and sighting systems market is primarily divided into product type, medium, and machinery. Based on application, the market consists of standalone infrared devices, seismic and acoustic sensors, integrated observation equipment, night vision devices, handheld thermal imaging devices, and other product types. Whereas, based on medium, the market is divided into marine, land, and aerial.

Lastly, according to machinery, the market is divided into military laser systems, electro-optics/infrared systems, and image intensifiers.

North America dominates the global market, accounting for the highest share of the revenue in 2022. According to estimates, in 2020, the 41 arms corporations in the world were based in the United States. Also, amid rising political unrest across the globe, the government of Canada has pledged to increase its military expenditure over the next five years. These developments are indicative of the positive outlook of the military optronics surveillance and sighting systems market.

The eminent players in the military optronics surveillance and sighting systems market include Lockheed Martin Corporation, Rafael Advanced Defense Systems Ltd, BAE Systems PLC, Israel Aerospace Industries, Airbus Group SE, Raytheon Technologies Corporation, Safran Group, Northrop Grumman Corporation, General Dynamics Corporation, and Thales Group.

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Question & Answer: Military Optronics Surveillance and Sighting Systems Market

Question 1: What factor drives the studied market growth?
Answer: Subnational conflicts with strong trans-border dimensions are common forms of conflict worldwide. As a result, several nations have raised their military expenditure, especially to secure their borders. This has led to enhanced deployment of modern military systems across borders for surveillance and information-gathering missions for military preparedness in case of warlike conditions. This is a key driver for the military optronics surveillance and sighting systems market's growth.

Question 2: What factor hampers the military optronics surveillance and sighting systems market's growth?
Answer: Cases of cyber-attacks have progressed from stealing & misusing data to manipulating weaponry and other key infrastructure. They are being used for espionage, manipulation & theft of confidential & strategic data, or even the takeover of key operating systems. The incidence of these attacks is on the rise, which increases the risk of military optronics surveillance and sighting systems being tampered with. This, as a result, has negatively affected market growth.

Question 3: Which region dominates the global market?
Answer: North America dominates the global market, accounting for the highest share of the revenue in 2022. According to estimates, in 2020, the 41 arms corporations in the world were based in the United States. Also, amid rising political unrest across the globe, the government of Canada has pledged to increase its military expenditure over the next five years. These developments are indicative of the positive outlook of the military optronics surveillance and sighting systems market.

Question 4: Which are the eminent players in the studied market?
Answer: The eminent players in the military optronics surveillance and sighting systems market include Lockheed Martin Corporation, Rafael Advanced Defense Systems Ltd, BAE Systems PLC, Israel Aerospace Industries, Airbus Group SE, Raytheon Technologies Corporation, Safran Group, Northrop Grumman Corporation, General Dynamics Corporation, and Thales Group.

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