May 9, 2019   SOURCE: BusinessWire

Global $15.5Bn Target Acquisition Systems Market by Subsystem, Platform, End-use, Range and Region - Forecast to 2024 - ResearchAndMarkets.com

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.

Market Dynamics

Drivers

  • 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

Opportunities

  • Increased R&D Investments for Technological Advancements in Defense Operations

Challenges

  • 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

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

6 Industry Trends

6.1 Introduction

6.2 Technology Trends

6.3 Innovations & Patents Registrations

7 Target Acquisition Systems Market, By Sub-System

7.1 Introduction

7.2 Cameras

7.3 Scopes & Sights

7.4 Detecting & Locating Systems

7.5 Modules

7.6 Add-On Systems

7.7 Others

8 Target Acquisition Systems Market, By Platform

8.1 Introduction

8.2 Land

8.3 Naval

8.4 Airborne

9 Target Acquisition Systems Market, By End Use

9.1 Introduction

9.2 Military

9.3 Homeland Security

10 Target Acquisition Systems Market, By Range

10.1 Introduction

10.2 Long Range Target Acquisition Systems

10.3 Medium Range Target Acquisition Systems

10.4 Short Range Target Acquisition Systems

11 Regional Analysis

11.1 Introduction

11.2 North America

11.3 Europe

11.4 Asia Pacific

11.5 Middle East

11.6 Rest of the World

12 Competitive Landscape

12.1 Introduction

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.

13.4 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/2xbg4m