Electro Optical Systems Global Market Report 2024 - By Share, Report, Trends, Outlook By 2033

"The new report published by The Business Research Company, titled ""Electro Optical Systems Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the electro optical systems market size has grown strongly in recent years. It will grow from $13.33 billion in 2023 to $14.08 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The electro optical systems market size is expected to see strong growth in the next few years. It will grow to $17.36 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%.

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Surging Uav Deployment Fuels Growth In The Electro-Optical System Market
The rising deployment of unmanned aerial vehicles (UAV) is expected to boost the growth of the electro-optical system market going forward. An unmanned aerial vehicle (UAV) is a powered aerial vehicle without a human operator that can fly autonomously or under remote control, carry a lethal or nonlethal payload, and be expendable or recoverable. In Unmanned aerial vehicles (UAV), electro-optical systems are used as sensors to navigate appropriately, sense and avoid obstacles, and detect movement. For instance, in 2022, according to the Federal Aviation Administration, a US-based Department of Transportation, there were around 800,000 small drone registrations in 2020, and approximately 1.58 million small drones already accounted for in 2021. Further, the number of small drones is expected to increase to 1.81 million units by 2026. Therefore, the Rising deployment of UAVs is driving the growth of the electro-optical system market.

Innovative Electro-Optical Intelligent Sensing Technologies Redefining The Electro-Optical System Market
Major companies operating in the electro-optical system market are focusing on developing innovative technologies such as electro-optical intelligent sensing to strengthen their market position. Electro-optical intelligent sensing (EOIS) is a field of technology that combines electro-optical sensors with artificial intelligence (AI) to create systems that can sense, interpret, and act on information in the real world. For instance, in April 2023, Raytheon Technologies Corp, a US-based manufacturer of technology-related products and services to the aerospace and defense sectors, launched RAIVEN, an advanced electro-optical intelligent-sensing capability. The unique feature of RAIVEN is its capacity to recognize objects optically and spectrally in real-time simultaneously. The 'intelligent-sensing' capacity of RAIVEN enables operators to see up to five times farther and more apparent than conventional optical imaging. It combines artificial intelligence, hyperspectral imaging, and light detection and ranging, or LiDAR. When combined with AI, RAIVEN creates a precise image of the battlespace and the threats present in it from reams of data. The AI automatically recognizes and categorizes threats, enabling automation that allows the operator to pick which decisions must be made.

The electro optical systems market covered in this report is segmented -
1) By System: Imaging, Non-Imaging
2) By Component: Sensor, Camera, Laser, Photodetectors, Other Components
3) By Application: Air Electro Optical System, Land Electro Optical System, Sea Electro Optical System
4) By End Use: Defense, Commercial

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Major companies operating in the electro optical systems market report are Raytheon Technologies Corp., Lockheed Martin Corporation, Northrop Grumman Corporation, Honeywell International Inc., Canon Inc., BAE Systems Plc., Fujifilm Holdings Corporation, Safran S.A, Collins Aerospace, Thales Group, L3Harris Technologies Inc., Leidos Holdings Inc., Corning Incorporated, Rheinmetall AG, Elbit Systems Ltd., Teledyne Technologies Inc., General Dynamics Mission Systems Inc., Saab AB, MKS Instruments Inc., Coherent Inc., Leonardo DRS Inc., Jenoptik AG, EOS GmbH, Textron Systems Corporation, Thorlabs Inc., Instro Precision Limited, Optikos Corporation, FLIR LLC,

Contents of the report:
1. Executive Summary
2. Electro Optical Systems Market Report Structure
3. Electro Optical Systems Market Trends And Strategies
4. Electro Optical Systems Market - Macro Economic Scenario
5. Electro Optical Systems Market Size And Growth
…..
27. Electro Optical Systems Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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