Night Vision Devices Segment is Expected to be Fastest Growing Segment During  the Forecast Period for MEA Region          

According to a new market research study on “MEA 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$ 1,206.50 million by 2028 from 1,004.34 US$ million in 2021. The market is estimated to grow at a CAGR of 2.7% from 2021 to 2028. The report provides trends prevailing in the MEA military optronics surveillance and sighting systems market along with the drivers and restraints pertaining to the market growth. Demand for multiple data sharing and storing facilities is increasing and this is the major factor driving the growth of the MEA military optronics surveillance and sighting systems market. However, issues associated with high initial and maintenance costs hinders the growth of MEA military optronics surveillance and sighting systems market.        

MEA military optronics surveillance and sighting systems market is segmented into technology, device type, platform, and country. The MEA 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 MEA 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 MEA 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 MEA military optronics surveillance and sighting systems market is segmented into Saudi Arabia, South Africa, UAE, and rest of the MEA. Saudi Arabia held the largest market share in 2020.

The COVID-19 pandemic had negatively impacted the entire MEA military technology industry. The countries in the region-imposed lockdowns early 2020 to curb the spread of the virus, which impaired the entire aviation industry ecosystem. MEA has a limited number of military optronics, surveillance, and sighting system suppliers for the military forces. Therefore, the region rely heavily on international suppliers. Thus, the emergence of COVID-19 pandemic is declining the growth of the market. Furthermore, the region has also witnessed a decline of nearly 2% in its military expenditure compared to the expenditure in FY 2020. For instance, in 2019 the military expenditure in MEA was around US$ 179,884 million that was declined to an estimated value of US$ 176,681 million in 2020. Owing to this, the military optronics surveillance & sighting systems market in MEA observed negative year-on-year growth in 2020.   

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 MEA 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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