Global Target Acquisition Systems Market Projected to Grow from $11.9 Billion in 2019 to $15.5 Billion by 2024, at a CAGR of 5.46%

News provided by

May 13, 2019, 11:45 ET

DUBLIN, May 13, 2019 /PRNewswire/ -- The "Target Acquisition Systems Market by Subsystem (Cameras, Scopes & Sights, Detecting & Locating Systems, Modules), Platform (Land, Airborne, Naval), End Use (Military, Homeland Security), Range, and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The target acquisition systems market is projected to grow from USD 11.9 billion in 2019 to USD 15.5 billion by 2024, at a CAGR of 5.46% from 2019 to 2024.

Some of the factors that are expected to fuel the growth of the target acquisition systems market are advancements in automatic weapons, increasing defense expenditure of countries, rise in demand for artillery systems by military forces, and ongoing military modernization programs worldwide.

Major players in the target acquisition systems market include companies, such as Hensoldt (Germany), Elbit Systems (Israel), Israel Aerospace Industries (Israel), Aselsan A.S. (Turkey), Rheinmetall AG (Germany), BAE Systems (UK), and Leonardo (Italy), and Raytheon Company (US), among others.

The detecting & locating systems segment is estimated to account for the largest share of the target acquisition systems market in 2019

Based on sub-system, the detecting & locating systems segment is estimated to account for the largest share of the target acquisition systems market in 2019. Detecting & locating systems play a key role in the detection of targets with the help of target acquisition radars, EO/IR systems, and other supporting systems.

The medium range (8-250 km) segment is estimated to account for the largest share of the target acquisition systems market in 2019

Based on range, the medium range (8-250 km) segment is estimated to account for the largest share of the target acquisition systems market in 2019. Medium range target acquisition systems are highly preferred by militaries, as they provide greater accuracy in targeting as compared to long range systems and provides greater range coverage than a short range system. Countries such as India and China are currently investing in medium-range defense systems.

The land segment is estimated to lead the target acquisition systems market in 2019

Based on platform, the land segment is estimated to account for the largest share of the target acquisition systems market in 2019. The rise in the use of target acquisition systems is strengthening the defense capabilities of land platforms and providing greater safety to soldiers during war and anti-terrorist operations. Developed countries are focusing on integrating these systems on various land warfare platforms to reduce the number of causalities during anti-terrorist operations.

North America is estimated to account for the largest share of the target acquisition systems market in 2019

North America is expected to account for the largest share of the target acquisition systems market in 2019, The large share can be attributed to the high demand for target acquisition systems from the US Department of Defense and presence of defense players, such as Lockheed Martin Corporation and Raytheon Company in the country.

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Growth Opportunities in Target Acquisition Systems Market
4.2 Land Target Acquisition Systems Market, By Application
4.3 Airborne Target Acquisition Systems Market, By Application
4.4 Target Acquisition Systems Market, By Range
4.5 Military Target Acquisition Systems Market, By Application
4.6 Target Acquisition Systems Market, By Region

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Advancements in Automatic Weapon Systems
5.2.1.2 Ongoing Military Modernization Programs Worldwide
5.2.1.3 Adoption of Tas-Supported Equipment By Military Forces
5.2.1.4 Increasing Defense Expenditure of Countries
5.2.1.5 Increasing Demand for Autonomy in Weapon Systems
5.2.1.6 Rise in Demand for Artillery Systems By Military Forces
5.2.2 Opportunities
5.2.2.1 Increased R&D Investments for Technological Advancements in Defense Operations
5.2.3 Challenges
5.2.3.1 Complexity and High Operational Cost
5.2.3.2 Integration of Automatic Weapon Systems With A Wide Range of Platforms
5.2.3.3 Extreme Weather Conditions Hamper the Accuracy of Target Acquisition Systems
5.2.3.4 Regulatory Challenges for Sales to Overseas Countries

6 Industry Trends
6.1 Introduction
6.2 Technology Trends
6.2.1 Integrated Weapon Systems
6.2.2 Trajectory Correction Systems (TCS)
6.2.3 Advancements in Low-Light Optics, Thermal Vision & Image Intensification
6.2.4 Squad Binocular Night Vision Goggles
6.2.5 Long-Range Observation, Target Acquisition & Laser Designation System
6.2.6 Next-Generation Electro-Optical Laser Target Locator
6.2.7 Adoption of Artificial Intelligence (AI)/Automatic Target Recognition (ATR) Technology for Improved Situational Awareness
6.2.8 Big Data Analytics
6.3 Innovations & Patents Registrations

7 Target Acquisition Systems Market, By Sub-System
7.1 Introduction
7.2 Cameras
7.2.1 Advancement in Integrating Situational Awareness Applications With Cameras
7.3 Scopes & Sights
7.3.1 Image Intensifiers Integrated With Next-gen Scopes for All-Weather Target Acquisition
7.4 Detecting & Locating Systems
7.4.1 Increased Need for Firing Accuracy Expected to Drive the Growth of Target Acquisition Systems Market
7.5 Modules
7.5.1 Increased Need for Real Time Situational Awareness is Expected to Drive the Growth of Modules
7.6 Add-On Systems
7.6.1 Increasing Need for Additional Systems to Enhance Target Acquisition
7.7 Others

8 Target Acquisition Systems Market, By Platform
8.1 Introduction
8.2 Land
8.2.1 Armored Vehicles
8.2.1.1 Increasing Demand for Surveillance Vehicles is Expected to Drive Demand for Vehicle Based Target Acquisition Systems Market
8.2.2 Man-Portable Systems
8.2.2.1 Increasing Internal and External Security Threats is Expected to Increase the Demand for Man-Portable Target Acquisition Systems
8.2.3 Infantry Soldiers
8.2.3.1 Increasing Demand for Intelligence, Surveillance and Reconnaissance (ISR) Applications
8.2.4 Surveillance Towers
8.2.4.1 Increasing Need for Autonomous Border Surveillance Will Drive the Market for Target Acquisition Systems
8.3 Naval
8.3.1 Combat Ships
8.3.1.1 Increasing Naval Warfare to Drive Target Acquisition Systems for Combat Ships
8.3.2 Submarines
8.3.2.1 Increasing Investments in Maritime Security and Enhancement of Naval Capabilities
8.3.3 Unmanned Surface Vehicles (USV)
8.3.3.1 Rising Demand for Maritime Security for Protection of Shallow Waters & Ports
8.4 Airborne
8.4.1 Combat Aircraft
8.4.1.1 Increasing Number of Procurements for Combat Aircraft in the Us, Europe, and Asia Pacific
8.4.2 Unmanned Aerial Vehicles (UAV)
8.4.2.1 Increasing Use in Various Military Applications is Expected to Drive the Target Acquisition Systems Market for UAVs
8.4.3 Aerostats/Balloons
8.4.3.1 Increasing Need for Border Surveillance Due to Border Disputes and Drug Trafficking

9 Target Acquisition Systems Market, By End Use
9.1 Introduction
9.2 Military
9.2.1 Intelligence, Surveillance & Reconnaissance (ISR)
9.2.1.1 Demand for Unmanned Systems for Surveillance
9.2.2 Weapon Targeting
9.2.2.1 Demand for Accurate Location of Enemies
9.3 Homeland Security
9.3.1 Border Security
9.3.1.1 Increasing Illegal Immigration Will Drive Border Security Market
9.3.2 Coastal & Maritime Surveillance
9.3.2.1 Increasing Demand for Coastal Protection is Expected to Drive the Coastal & Maritime Surveillance Market
9.3.3 Search & Rescue
9.3.3.1 Advancement in EO/IR Technology is Expected to Drive the Search & Rescue Market
9.3.4 Critical Infrastructure
9.3.4.1 Increasing Terrorist Threats and Biohazard Attacks

10 Target Acquisition Systems Market, By Range
10.1 Introduction
10.2 Long Range Target Acquisition Systems
10.2.1 Increasing Threats From Intercontinental Ballistic Missiles Across the Globe
10.3 Medium Range Target Acquisition Systems
10.3.1 Medium Range Systems are Extensively Used in War zone for Aiming at the Target With Maximum Accuracy
10.4 Short Range Target Acquisition Systems
10.4.1 Increasing Focus of Air and Surface Targets

11 Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 US
11.2.1.1 Increasing Procurement of Target Acquisition Systems in the Country is Driving the Growth of the Market
11.2.2 Canada
11.2.2.1 High Focus on Modernization of Weapon Systems Expected to Drive the Market for Target Acquisition Systems in Canada
11.3 Europe
11.3.1 UK
11.3.1.1 Upgradation of Its Warrior Infantry Fighting Vehicles is Driving the Growth of Target Acquisition Systems Market in the UK
11.3.2 Russia
11.3.2.1 Tensions With Ukraine and Other Nato Countries and Procurement of Military Equipment
11.3.3 France
11.3.3.1 Increasing Demand for Equipment for Special Forces is Expected to Drive the Growth of the Target Acquisition Systems Market in France
11.3.4 Italy
11.3.4.1 Increasing Defense Procurements and Launch of Various Programs
11.3.5 Germany
11.3.5.1 Government Initiatives for Procurement of Armored Vehicles is Expected to Drive the Market in Germany
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 China
11.4.1.1 Increasing Focus on Modernization of Automation Weapons and Research and Development for Military
11.4.2 Japan
11.4.2.1 High-End Indigenous Military Technologies, Drives the Market of Target Acquisition Systems in Japan
11.4.3 India
11.4.3.1 Increasing Instances of Terrorist Strikes, Border Disputes,And Sensitive Multi-Cultural Issues
11.4.4 South Korea
11.4.4.1 Soldiers Modernization Programs, Addition of Advanced Armored Vehicles, and Conflict With North Korea
11.4.5 Rest of Asia Pacific
11.5 Middle East
11.5.1 Israel
11.5.1.1 Israeli Government Invests Significantly to Enhance Its Military Strength to Defend Its Territories Threats
11.5.2 Saudi Arabia
11.5.2.1 Increasing Military Expenditure and Tensions Between Neighboring Countries
11.5.3 Rest of Middle East
11.6 Rest of the World
11.6.1 Africa
11.6.1.1 Rising Concerns Regarding Terrorism are Expected to Drive the Growth of the Target Acquisition Systems Market in Africa
11.6.2 South America
11.6.2.1 Increasing the Procurements of Locating & Targeting Systems is Expected to Drive the Target Acquisition Systems Market in Latin America.

12 Competitive Landscape
12.1 Introduction
12.2 Competitive Scenario
12.3 Major Players, 2018
12.4 Competitive Leadership Mapping
12.4.1 Visionary Leaders
12.4.2 Innovators
12.4.3 Dynamic Differentiators
12.4.4 Emerging Companies
12.5 Competitive Scenario
12.5.1 New Product Launches
12.5.2 Contracts
12.5.3 Partnerships & Agreements

13 Company Profiles
13.1 Aselsan A.S.
13.2 Bae Systems PLC
13.3 Elbit Systems Ltd.
13.4 Hensoldt
13.5 Instro Precision Limited
13.6 Israel Aerospace Industries
13.7 Wuhan Joho Technology Co. Ltd.
13.8 Kearfott Corporation
13.9 Leonardo
13.10 Lockheed Martin Corporation
13.11 Raytheon
13.12 Rheinmetall AG
13.13 Safran Group
13.14 Thales
13.15 Iacit

For more information about this report visit https://www.researchandmarkets.com/r/4inu0t

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

SOURCE Research and Markets