2025 Target Acquisition Systems Market Outlook: Key Indicators Shaping Growth Through 2034

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What Will the Target Acquisition Systems Industry Market Size Be by 2025?
The market size for target acquisition systems has witnessed significant expansion in the past years. The market, which is projected to escalate from $14.38 billion in 2024 to $15.12 billion in 2025, is predicted to experience a compound annual growth rate (CAGR) of 5.2%. The historic growth of this market is credited to factors like military modernization initiatives, increase in threats and conflicts, transition towards network-centric warfare, incorporation of artificial intelligence and machine learning, and the upgrading of current systems.

What's the Long-Term Growth Forecast for the Target Acquisition Systems Market Size Through 2029?
The size of the target acquisition systems market is anticipated to experience robust growth in the upcoming years, projected to reach "$20.14 billion by 2029 with a compound annual growth rate (CAGR) of 7.4%. Several factors driving this enlargement over the forecast period include naval and air defense expansion, precision strike demands, upgrades and retrofitting, focus on network-centric warfare, and the acceleration of military modernization. Notable trends for the forecast period encompass a shift towards solutions for urban warfare, the creation of counter stealth technologies, modular and upgradeable systems, the use of infrared imaging systems, and the embrace of long-range precision targeting.

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What Are the Key Growth Drivers Fueling the Target Acquisition Systems Market Expansion?
The escalation of defense expenditure in growing nations is playing a significant role in propelling the target acquisition systems market. The defense budget entails the total expenditure of the central government on all military sectors, which includes peacekeeping initiatives. The amplification of these budgets will boost the increasing need to safeguard national security against various threats. Target acquisition systems function as tracking devices used by military weaponry to locate potential enemy targets, whether airborne or terrestrial. These devices rely on satellite navigation data to accurately identify the coordinates of the target. The mounting threats have necessitated an increase in military budgets to ensure a more peaceful global society, which is beneficial to the target acquisition systems market. For instance, the Stockholm International Peace Research Institute, a Sweden-based organization, reported in April 2024 that worldwide military expenditure in 2023 totaled $2,443 billion, indicating a 6.8% growth in real terms from 2022. Therefore, the growth of the defense budget is fueling the expansion of the target acquisition systems market.

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What Are the Key Trends Driving Target Acquisition Systems Market Growth?
Technological progress is becoming a significant trend in the target acquisition systems industry. Many primary businesses in this market are concentrating their efforts on creating new technologies in order to maintain their competitive edge. For instance, Elbit Systems Ltd., a military technology firm from Israel, introduced COAPS-L, a novel electro-optical (EO) payload for ISTAR (intelligence, surveillance, target acquisition, and reconnaissance), in June 2022. COAPS-L is a smaller variant of the firm's Commander Open Architecture Panoramic Sight (COAPS), which is employed on main combat tanks and armored fighting vehicles (AFV) worldwide. COPAS-L provides light platforms with AFV-grade ISTAR potential, encompassing surface vessels, UGVs, and light tactical vehicles, all of which are compact and weigh merely 40 kg. The COPAS-L payload can operate both independently as an ISTAR payload and in partnership with the platform's weapon station.

How Is the Target Acquisition Systems Market Segmented?
The target acquisition systems market covered in this report is segmented -

1) By Platform: Land, Airborne, Naval
2) By Sub System: Cameras, Scopes And Sights, Detecting And Locating Systems, Modules, Add-On Systems, Other Sub Systems
3) By Range Type: Short Range (0-8 Km), Medium Range (8-250 Km), Long Range (Above 250 Km)
4) By End Use: Military, Homeland Security

Subsegments:
1) By Land: Ground Vehicles, Portable Systems, Fixed Installation Systems
2) By Airborne: Unmanned Aerial Vehicles (UAVs), Manned Aircraft, Helicopters
3) By Naval: Surface Ships, Submarines, Naval Patrol Aircraft

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Which Companies Are Leading the Charge in Target Acquisition Systems Market Innovation?
Major companies operating in the target acquisition systems market include Elbit Systems Ltd., Leonardo S.p.A, Safran SA, Thales Group, Rheinmetall AG, Instro Precision Limited, Israel Aerospace Industries, Hensoldt AG, Kearfott Corporation, Blighter Surveillance Systems, Thermoteknix Systems Ltd., Lockheed Martin Corporation, L3Harris Technologies Inc., Aselsan A.S., Wuhan JOHO Technology Co. Ltd., Raytheon Technologies Corporation, General Dynamics Corporation, FLIR Systems Inc., BAE Systems plc, Leidos Holdings Inc., Kratos Defense & Security Solutions Inc., Ultra Electronics Holdings plc, Rafael Advanced Defense Systems Ltd., Harris Corporation, Rostec State Corporation, Hanwha Corporation, RADA Electronic Industries Ltd., Saab AB, Cobham plc, Curtiss-Wright Corporation

Which Regions Are Leading the Global Target Acquisition Systems Market in Revenue?
North America was the largest region in the target acquisition systems market in 2024.Asia-Pacific is expected to be the fastest-growing region in the global target acquisition systems market report during the forecast period. The regions covered in the target acquisition systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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