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Military Optronics Market to Reach $5.05B in 2015

Strategic Insights

— 2 min read

The military optronics market is experiencing a surge in advanced individual warfighter systems in Europe and North America, where land forces are looking to equip soldiers with optical devices, personnel protective equipment, and intelligence capabilities. This trend is not yet evident in other regions like Africa and Central and South America, where developing markets continue to make individual off-the-shelf purchases rather than invest in advanced programs. As defense expenditure plummets in countries like the U.S., companies are shifting their operations to more lucrative markets in Asia and the Middle East. Visiongain assesses that the global military optronics market will reach revenues of $5.05 billion in 2015.

Key Takeaways:

  • The global military optronics market is expected to reach $5.05 billion in 2015, with a focus on advanced individual warfighter systems in Europe and North America.
  • Developing markets in Africa and Central and South America are not yet investing in advanced military optronics programs, instead opting for individual off-the-shelf purchases.
  • Defense companies are shifting their operations to more lucrative markets in Asia and the Middle East, away from plummeting defense expenditure in countries like the U.S.
  • Four key submarkets are forecast at the global level and also for each of the 20 leading national markets, providing 80 distinct market spaces to examine: Image Intensification (I2), Infra Red (IR), Laser Systems, and Optical Camera Systems.
  • The leading national markets for military optronics are the U.S., China, Russia, U.K., India, Israel, Canada, Japan, Saudi Arabia, Australia, Turkey, France, Brazil, UAE, Germany, ROK, Qatar, Mexico, Iraq, Afghanistan, and Nigeria.
  • The SWOT analysis assesses the impact of research and development (R&D) strategy, technological advancements, supply and demand dynamics, competition from new product types, and market entry barriers on the military optronics market.
  • The report includes in-depth analysis of the activities of 20 leading companies, including Airbus Group, BAE Systems plc, Elbit Systems Ltd., Exelis, Inc., Finmeccanica, S.p.A., FLIR Systems, Inc., General Dynamics Corporation, Israel Aerospace Industries, L-3 Communications Holdings Inc., Leidos, Inc., Lockheed Martin Corporation, Northrop Grumman Corporation, Rafael Advanced Defense Systems Ltd., Raytheon Company, Rheinmetall AG, ROLTA India Ltd., SAFRAN S.A., Textron, Inc., Thales Group, and Ultra Electronics Holdings plc.

Statistics:

  • The global military optronics market is expected to reach $5.05 billion in 2015.
  • The market is expected to grow to $6.25 billion by 2025, at a CAGR of 2.5%.
  • The Image Intensification (I2) submarket is expected to reach $1.4 billion in 2015 and $1.7 billion by 2025.
  • The Infra Red (IR) submarket is expected to reach $1.3 billion in 2015 and $1.5 billion by 2025.
  • The Laser Systems submarket is expected to reach $0.9 billion in 2015 and $1.1 billion by 2025.
  • The Optical Camera Systems submarket is expected to reach $1.1 billion in 2015 and $1.3 billion by 2025.

Sources:

  • PRNewswire, "Military Optronics Surveillance & Sighting Systems Market 2015-2025: Personal Imaging Systems, Electro Optical (EO) & Infrared (IR) Imaging Technologies"
  • ReportLinker, "Military Optronics, Surveillance & Sighting Systems Market 2015-2025: Personal Imaging Systems, Electro Optical (EO) & Infrared (IR) Imaging Technologies"

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