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Global Military Platform Electro-Optics Market Poised to Achieve $5.05 Billion by 2032 with a Steady CAGR of 4.2% || L3Harris Technologies Inc., Raytheon Technologies Corporation, Lockheed Martin Corporation
Military Platform Electro Optics Market
The Business Research Company's Military Platform Electro Optics Global Market Report 2023 the growing threat of terrorism and illegal activity as the major driver for the military platform electro optics market's growth in the forecast period. Terrorism refers to the use of violence or the threat of violence, especially against civilians, to achieve political, religious, or ideological goals, whereas illegal activity is any activity that is prohibited by law. Military platform electro-optics help counter terrorism and illegal activity by providing real-time, high-resolution battlefield imagery or other areas of interest. This imagery can identify potential threats, track enemy movements, and assess the damage caused by attacks.
The global military platform electro-optics market size is expected to grow from $4.08 billion in 2022 to $4.28 billion in 2023 at a compound annual growth rate (CAGR) of 4.93%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global military platform electro-optics market size is expected to reach $5.05 billion in 2027 at a CAGR of 4.20%.
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Major competitors in the military platform electro optics market are L3Harris Technologies Inc., Raytheon Technologies Corporation, Lockheed Martin Corporation, Leonardo S.p.A., Elbit Systems Ltd., Thales Group, BAE Systems, Northrop Grumman, Safran Group, Teledyne FLIR LLC, Aselsan AS.
A key trend in the military platform electro optics market includes AI-enabled threat identification systems. Companies operating in the military platform electro-optics market are adopting new technologies to sustain their position in the market. For instance, in April 2023, Raytheon Technologies, a US-based aerospace and defense company, launched the RAIVEN, an AI-powered system with electro-optics and infrared capability designed to detect and identify threats in real-time military operations. This system harnesses the power of advanced technologies like hyperspectral, LiDAR (light detection and ranging), and artificial intelligence to deliver unprecedented targeting, battlespace awareness, range, and visual superiority.
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The military platform electro optics market is segmented -
• By Product Type: Hyperspectral Electro-Optics, Multispectral Electro-Optics
• By Platform Type: Land Electro-Optics, Naval Electro-Optics, Airborne Electro-Optics
• By Point Of Sale: Original Equipment Manufacturer (OEM), Aftermarket
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the military platform electro-optics market.
The Business Research Company's "Global Military Platform Electro Optics Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Military Platform Electro Optics Market Include:
1. Executive Summary
2. Military Platform Electro Optics Market Characteristics
3. Military Platform Electro Optics Market Trends And Strategies
4. Military Platform Electro Optics Market - Macro Economic Scenario
5. Military Platform Electro Optics Market Size And Growth
……………
27. Military Platform Electro Optics Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Military Platform Electro Optics Market
29. Military Platform Electro Optics Market Future Outlook And Potential Analysis
30. Appendix
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