Global $15.5Bn Target Acquisition Systems Market by Subsystem, Platform, End-use, Range and Region - Forecast to 2024 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--May 9, 2019--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.
- Advancements in Automatic Weapon Systems
- Ongoing Military Modernization Programs Worldwide
- Adoption of TAS-Supported Equipment By Military Forces
- Increasing Defense Expenditure of Countries
- Increasing Demand for Autonomy in Weapon Systems
- Rise in Demand for Artillery Systems By Military Forces
- Increased R&D Investments for Technological Advancements in Defense Operations
- Complexity & High Operational Cost
- Integration of Automatic Weapon Systems with a Wide Range of Platforms
- Extreme Weather Conditions Hamper the Accuracy of Target Acquisition Systems
- Regulatory Challenges for Sales to Overseas Countries
Key Topics Covered
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
5.2 Market Dynamics
6 Industry Trends
6.2 Technology Trends
6.3 Innovations & Patents Registrations
7 Target Acquisition Systems Market, By Sub-System
7.3 Scopes & Sights
7.4 Detecting & Locating Systems
7.6 Add-On Systems
8 Target Acquisition Systems Market, By Platform
9 Target Acquisition Systems Market, By End Use
9.3 Homeland Security
10 Target Acquisition Systems Market, By Range
10.2 Long Range Target Acquisition Systems
10.3 Medium Range Target Acquisition Systems
10.4 Short Range Target Acquisition Systems
11 Regional Analysis
11.2 North America
11.4 Asia Pacific
11.5 Middle East
11.6 Rest of the World
12 Competitive Landscape
12.2 Competitive Scenario
12.3 Major Players, 2018
12.4 Competitive Leadership Mapping
12.5 Competitive Scenario
13 Company Profiles
13.1 Aselsan A.S.
13.2 Bae Systems PLC
13.3 Elbit Systems Ltd.
13.5 Instro Precision Limited
13.6 Israel Aerospace Industries
13.7 Wuhan Joho Technology Co. Ltd.
13.8 Kearfott Corporation
13.10 Lockheed Martin Corporation
13.12 Rheinmetall AG
13.13 Safran Group
For more information about this report visit https://www.researchandmarkets.com/r/2xbg4m
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INDUSTRY KEYWORD: DEFENSE OTHER DEFENSE
SOURCE: Research and Markets
Copyright Business Wire 2019.
PUB: 05/09/2019 07:05 AM/DISC: 05/09/2019 07:05 AM