Report : Europe Military Optronics Surveillance and Sighting Systems Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Technology (Image Intensification, Military Laser Systems, and Electro-Optics/Infrared), Device Type (Night Vision Devices, Handheld Thermal Imaging Devices, Integrated Observation Equipment, Standalone Infrared, Seismic and Acoustic Sensors, and Others), and Platform (Ground, Airborne, and Naval)
Electro-Optics/Infrared Segment to Dominate Europe Military Optronics Surveillance and Sighting Systems Market during 2020–2028
According to a new market research study on “Europe Military Optronics Surveillance and Sighting Systems Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Technology, Device Type, and Platform” is expected to reach US$ 4,345.09 million by 2028 from 2,992.66 US$ million in 2021. The market is estimated to grow at a CAGR of 5.5% from 2021 to 2028. The report provides trends prevailing in the Europe military optronics surveillance and sighting systems market along with the drivers and restraints pertaining to the market growth. Implementation of next-gen technologies in defense systems is the major factor driving the growth of the Europe military optronics surveillance and sighting systems market. However, issues associated with military optronics surveillance and sighting systems having huge initial and maintenance Cost hinders the growth of Europe military optronics surveillance and sighting systems market.
Europe military optronics surveillance and sighting systems market is segmented into technology, device type, platform, and country. The Europe military optronics surveillance and sighting systems market on the basis of technology is segmented into image intensification, military laser systems, electro-optics/infrared. electro-optics/infrared segment held the largest market share in 2020. Based on device type, the Europe military optronics surveillance and sighting systems market is segmented into night vision devices, handheld thermal imaging devices, integrated observation equipment, standalone infrared, seismic and acoustic sensors, and others. Seismic and acoustic sensors segment held the largest market share in 2020. On the basis of platform, the Europe military optronics surveillance and sighting systems market is segmented into ground, airborne, naval. Ground segment held the largest market share in 2020. Based on country, the Europe military optronics surveillance and sighting systems market is segmented into Germany, France, Italy, UK, Russia, and rest of Europe. Russia held the largest market share in 2020.
The COVID-19 outbreak across Europe have had a substantial impact on military capabilities. The armed forces have been a critical component of national crisis response across the European countries. Initially, this covered general military support, such as assistance with command and control, repatriation of citizens, logistics, disinfection of public spaces and also in some countries, support to police and internal security. In addition, in many countries, the armed forces supported the nursing and social care system. This experience identified some friction in the processes of managing demand in national health systems and at European level that would have also constrained strategic casualty regulation and evacuation in the event of major conflict in Eastern Europe. Moreover, the requirement of continuous surveillance for military operations has driven the military optronics surveillance and sighting systems market across European countries during FY 2020. Moreover, a few of the countries across Europe are also disclosing their plans for the acquisition of and investments in defense technologies across their respective armed forces, which is also expected to aid in the growth of the market during the forecast period.
HENSOLDT, Israel Aerospace Industries, L3Harris Technologies Inc., Lockheed Martin Corporation, Rafael Advanced Defense Systems Ltd., Raytheon Company, Safran S.A., Teledyne FLIR LLC, Thales Group, and Ultra Electronics Holdings plc. are among the leading companies in the Europe military optronics surveillance and sighting systems market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, The United States aerospace giant Lockheed Martin has delivered the first unit of its High Energy Laser with Integrated Optical-dazzler and Surveillance (HELIOS) laser system to the U.S. Navy.
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