Target Acquisition Systems Market Forecasts to 2028 – Global Analysis By Platform (Airborne, Land, Naval), Range (Long Range (Above 250 km), Short Range (0-8 km)), End User (Homeland Security, Military) and By Geography
According to Stratistics MRC, the Global Target Acquisition Systems Market is accounted for $12.55 billion in 2020 and is expected to reach $22.38 billion by 2028 growing at a CAGR of 7.5% during the forecast period. Factors such as ongoing military modernization programs, advancements in automatic weapon systems, and increasing need to ensure national security are driving the growth of the market. However, unanticipated delays and cancellation in procurement of defence systems are hampering the growth of the market.
Target acquisition systems are used by defense operators to detect and recognize targets with enough detail to aid in the efficient deployment of lethal and non-lethal means to neutralize a stationary or moving target. These systems incorporate advanced optronics, such as laser viewfinders, to ensure optimum vision capabilities even in adverse climate conditions.
Based on the end user, the military segment is anticipated to expand at a rapid pace during the forecast period which can be attributed to the growing use of unmanned systems for surveillance. By geography, Asia Pacific is going to have high growth during the forecast period owing to the strong domestic production base and increasing use of automatic weapons on combat vehicles.
Some of the key players profiled in the Target Acquisition Systems Market include Lockheed Martin Corporation, Israel Aerospace Industries, Thales, BAE Systems PLC, Safran Group, Leonardo, Rheinmetall AG, Raytheon, Aselsan A.S. , Kearfott Corporation, Elbit Systems Ltd, Instro Precision Limited, Hensoldt, Iacit, and Wuhan Joho Technology Co Ltd.
• Detecting & Locating Systems
• Scopes & Sights
• Add-On Systems
• Long Range (Above 250 km)
• Medium Range (8-250 km)
• Short Range (0-8 km)
End Users Covered:
• Homeland Security
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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- Market share assessments for the regional and country-level segments
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