Jun 5, 2020   SOURCE: BusinessWire

Global Tactical Optics Market by Product, Platform, Application, End-use, Range and Region - Forecast to 2025 - ResearchAndMarkets.com

The "Tactical Optics Market by Product (Weapon Scopes & Sights, Handheld Sighting Devices, Cameras & Displays), Platform, Application (ISR, Target Acquisition & Identification, Border & Coastal Patrol), End Use, Range, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

  • This study covers the tactical optics market across various segments and subsegments.
  • It aims at estimating the size and growth potential of this market across different segments based on the product, platform, application, end-use, range, and region.
  • The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to their product and business offerings, recent developments undertaken by them, and key market strategies adopted by them.

The global tactical optics market is projected to grow from USD 9.7 billion in 2020 to USD 13 billion by 2025, at a CAGR of 6.1% during the forecast period.

Ongoing upgrades to infantry soldier equipment and the introduction of advanced digital electro-optics, night vision goggles, and thermal imagers, among others, are expected to fuel the growth of the tactical optics market across the globe.

Some of the factors expected to fuel the growth of the tactical optics industry include the increased procurement of attack helicopters, armored vehicles, sniper rifles, automatic rifles, machine guns, and aircraft by militaries worldwide; and ongoing modernization of naval platforms by various countries. However, challenges such as high technical expertise requirements for the development of tactical optics for remote operations are curbing the growth of this market.

The cameras & displays segment is projected to register the highest CAGR during the forecast period due to the rising procurement of various vehicles globally.

Based on product, the cameras & displays segment is projected to register the highest CAGR during the forecast period due to an increase in the number of platforms where these cameras & displays are mounted. Armored vehicles, such as Main Battle Tanks (MBTs), are equipped with multiple electro-optic cameras and thermal cameras for drivers' navigation, commander sights, and gunner sights. The growing demand for armored vehicles is driving the tactical optics market.

The ground segment is estimated to lead the tactical optics market in 2020.

Based on the platform, the ground segment is estimated to account for the largest share of the tactical optics market in 2020. The ground segment includes tactical optics for dismounted soldiers, border surveillance, and armored vehicles. This segment is driven by the increased demand for soldier-based tactical optics, such as riflescopes and handheld devices. The need for advanced armored vehicles with remote weapon stations is also driving the tactical optics market growth in the ground segment.

The unmanned platform segment is projected to witness the highest CAGR during the forecast period.

Based on end-use, the unmanned platform segment is projected to register the highest CAGR during the forecast period. This segment's growth is driven by the rapid adoption of unmanned systems for surveillance and assault, globally. According to an article published by The Guardian in November 2019, more than 80,000 surveillance drones and almost 2,000 attack drones will be purchased by various militaries globally in the next ten years. The increase in demand for drones is, in turn, driving the demand for tactical optics.

The Asia Pacific is estimated to account for the largest share of the tactical optics market in 2020.

The Asia Pacific is estimated to lead the tactical optics market in 2020. The market in this region has tremendous potential due to the need for armored vehicles, aircraft, and helicopters. Additionally, the increased procurement of weapons for soldiers is driving the Asia Pacific tactical optics market. Countries in this region, such as China, India, and Japan, invest heavily in the modernization of their troops. For example, in February 2019, the Indian Ministry of Defense started the procurement of Beretta .338 Lapua Magnum Scorpio TGT and Barrett .50-calibre M95 sniper rifles. These rifles are said to replace the Russian Dragunov sniper rifles.

The tactical optics market includes major Tier 1 players, such as Kongsberg Gruppen AS (Norway), Raytheon Company (US), Elbit Systems Ltd. (Israel), Saab AB (Sweden), and BAE Systems plc (UK). These companies offer advanced electro-optic cameras and thermal cameras, which make up most of the tactical optics market share. The tactical optics industry also constitutes Tier 2 and Tier 3 players who offer tactical optics for dismounted soldiers, which cost comparatively lesser. These players include Sig Sauer, Inc. (US), Vortex Optics (US), Bushnell Corporation (US), and Leupold & Stevens, Inc. (US).

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

4.1 Attractive Opportunities in Tactical Optics Market

4.2 Ground Tactical Optics Market, by Vehicle Type

4.3 Naval Tactical Optics Market, by Vessel Type

4.4 Airborne Tactical Optics Market, by Aircraft Type

4.5 Weapon Scopes & Sights Market, by Type

4.6 Handheld Devices Market, by Type

4.7 Cameras & Displays Market, by Type

4.8 Tactical Optics Market, by Region

5 Market Overview

5.1 Introduction

5.2 Market Dynamics

5.2.1 Drivers

5.2.1.1 Increase in Procurement of Tactical Optics for Dismounted Soldiers and Vehicle Platforms

5.2.1.2 Increasing Demand for EO/IR Cameras

5.2.2 Opportunities

5.2.2.1 Weapon Modernization Plans Across the World

5.2.3 Challenges

5.2.3.1 Requirement for High Technical Expertise to Develop Tactical Optics

6 Industry Trends

6.1 Introduction

6.2 Emerging Trends

6.2.1 Echo3 Electro-Optics Thermal Reflex Sight

6.2.2 Freeform Optics

6.2.3 Intelligent Hardware Solutions

6.2.4 Intelligent Enterprise: Command and Control Above the Weapons Systems

6.2.5 Advancements in Camera Technology

6.2.6 Advanced Ballistic Calculators

6.2.7 Miniaturized Electro-Optics

6.2.8 Night Vision Riflescopes

6.2.9 Fiber Laser Technology

6.2.10 Armored Vehicles with Advanced Tactical Optics for Urban Warfare

6.2.11 Weaponized Drones with Tactical Optics

6.3 Advanced Technologies Developed by Companies in the Tactical Optics Market

6.3.1 Advanced Sighting System

6.3.2 Enhanced Night Vision Goggle (ENVG) with Family of Weapon Sights (FWS)

6.3.3 Microsoft Hololens Augmented Reality Headset

6.3.4 Hypercentric Optics

6.4 Innovations & Patent Registrations

7 Tactical Optics Market, by Product

7.1 Introduction

7.2 Weapon Scopes & Sights

7.2.1 Riflescopes

7.2.1.1 Day Sights

7.2.1.1.1 Development of Micro Electro-Optic Systems

7.2.1.2 Night Sights

7.2.1.2.1 Increasing Adoption of Thermal Imaging Technology During Low Visibility/Night

7.2.1.3 Digital Sights

7.2.1.3.1 Increase in Disruptive Technologies Leading to the Linkage of Numerous Tactical Optics Together to Create Maximum Awareness on the Battlefield

7.2.2 Night Vision Scopes

7.2.2.1 Thermal Scopes

7.2.2.1.1 Thermal Imaging Technology for Target Detection Capabilities is Driving the Market

7.2.2.2 Infrared Scopes

7.2.2.2.1 Infrared Technology Assists Soldiers in Low Light

7.2.2.3 Image Intensifiers

7.2.2.3.1 Increasing Investments in the Defense Sector Boost the Market for Image Intensifiers

7.2.3 Handheld Sighting Devices

7.2.3.1 Binoculars & Monoculars

7.2.3.1.1 New Optical Technologies, such as Digital Zoom, Thermal Binoculars, and Night Vision Binoculars, are Driving the Market

7.2.3.2 Night Vision Goggles

7.2.3.2.1 Increased Adoption of Head-Mounted Night Vision Goggles

7.2.3.3 Spotter Scopes

7.2.3.3.1 Growing Number of Snipers Leading to Increased Demand for Spotter Scopes

7.2.3.4 Rangefinders

7.2.3.4.1 Demand for Enhanced Situational Awareness Leading to Growth in Demand for Rangefinders

7.2.3.5 Target Acquisition & Surveillance Systems

7.2.3.5.1 Increased Use of Target Acquisition & Surveillance Systems by Militaries Worldwide

7.2.4 Cameras & Displays

7.2.4.1 Head-Mounted Displays (HMDs)

7.2.4.1.1 Rapid Development in Hmd Technology for Infantry Soldiers

7.2.4.2 Thermal Cameras

7.2.4.2.1 Increasing Use of Thermal Cameras for Border Surveillance

7.2.4.3 EO/IR Cameras

7.2.4.3.1 Increased Use of Drones with EO/IR is Driving the Tactical Optics Market

8 Tactical Optics Market, by Platform

8.1 Introduction

8.2 Ground

8.2.1 Vehicle-Mounted

8.2.1.1 Increased Procurement of Armored Vehicles by Various Militaries Globally

8.2.1.1.1 Main Battle Tanks (MBTs)

8.2.1.1.2 Infantry Fighting Vehicles (IFVs)

8.2.1.1.3 Armored Personnel Carriers (APCs)

8.2.1.1.4 Armored Amphibious Vehicles (AAVs)

8.2.1.1.5 Light Protected Vehicles (LPVs)

8.2.1.1.6 Self-Propelled Howitzers (SPHs)

8.2.1.1.7 Armored Mortar Carriers (AMCs)

8.2.1.1.8 Unmanned Ground Vehicles (UGVs)

8.2.2 Fixed Installation

8.2.2.1 Increasing Installation of High-Tech Cameras, Sights, and Ground-Based Interceptors with Tactical Optics for Border Surveillance and Protection

8.2.3 Portable

8.2.3.1 Portable Military Equipment Comprises High-Tech Tactical Optics Used to Cater to the Military Modernization Requirements

8.2.3.2 Man-Portable

8.2.3.2.1 Increasing Demand for Riflescopes, Binoculars, and Target Designators is Driving the Market

8.2.3.3 Dismounted Soldier

8.2.3.3.1 Upgrades to Soldier Equipment Drive the Market for Tactical Optics Devices with Respect to Dismounted Soldier

8.3 Naval

8.3.1 Aircraft Carriers

8.3.1.1 Upgrades and Modernization Programs of Aircraft Carriers Undertaken by Various Countries

8.3.2 Destroyers

8.3.2.1 Installation of New Weapons Systems on Destroyers

8.3.3 Frigates

8.3.3.1 Increased Orders for Frigates by Several Countries such as India, Russia, and Germany

8.3.4 Corvettes

8.3.4.1 Ongoing Upgrades of Corvettes by Various Countries, such as India, Israel, and Finland

8.3.5 Offshore Patrol Vessels (OPVs)

8.3.5.1 Modernization Programs of OPVs Drive the Market

8.3.6 Unmanned Marine Vessels (UMVs)

8.3.6.1 Increased Use of Umvs for Surveillance

8.4 Airborne

8.4.1 Combat Aircraft

8.4.1.1 Upgrades and Modernization Programs of Combat Aircraft by Various Leading Market Players

8.4.2 Attack Helicopters

8.4.2.1 Increased Procurement of Attack Helicopters by India and South Korea, Among Others, Drives the Market

8.4.3 Special Mission Aircraft

8.4.3.1 Ongoing Procurement of Special Mission Aircraft by Countries such as Finland and Bulgaria, Among Others, Drives the Market

8.4.4 Unmanned Aerial Vehicles (UAVs)

8.4.4.1 Continuous Development Programs to Utilize Tactical UAVs by Defense Forces

9 Tactical Optics Market, by Application

9.1 Introduction

9.2 Intelligence, Surveillance & Reconnaissance (ISR)

9.2.1 Increased Need for ISR Capabilities by Militaries Globally

9.3 Target Identification & Acquisition

9.3.1 Installation of Target Identification & Acquisition Products on Various Platforms Increases the Demand for Tactical Optics

9.4 Search & Rescue

9.4.1 Increased Use of Drones for Search & Rescue Missions

9.5 Border & Coastal Patrol

9.5.1 Increased Installation of EO/IR Cameras for Border & Coastal Surveillance

10 Tactical Optics Market, by End Use

10.1 Introduction

10.2 Manned Platform

10.2.1 Need for Situational Awareness Drives the Market for Tactical Optics in the Manned Platform Segment

10.3 Weapon Mounted

10.3.1 Procurement of New Weapons is Driving the Weapon Mounted Tactical Optics Market

10.4 Soldier

10.4.1 Various Infantry Modernization Programs Globally Drive the Demand for Tactical Optics

10.5 Unmanned Platform

10.5.1 Increasing Use of Unmanned Platforms for Surveillance and Assault

11 Tactical Optics Market, by Range

11.1 Introduction

11.2 Short-Range (< 3 Km)

11.2.1 Need for Handheld Tactical Optics is Driving the Tactical Optics Market

11.3 Medium-Range (3-25 Km)

11.3.1 Increasing Use of Drones Leading to Increased Demand for Medium-Range Tactical Optics

11.4 Long-Range (> 25 Km)

11.4.1 Increasing Procurement of Naval Ships, Aircraft, and Armored Vehicles Drive the Market for Long-Range Tactical Optics

12 Regional Analysis

12.1 Introduction

12.2 North America

12.2.1 US

12.2.1.1 Procurement of New Fighter Aircraft

12.2.2 Canada

12.2.2.1 Numerous Defense Procurement Projects for Land, Sea, and Air Platforms

12.3 Europe

12.3.1 France

12.3.1.1 Armored Vehicle Modernization Program to Impact the Market in France

12.3.2 Russia

12.3.2.1 Serial Production of T-90 and T-14 Armata Tanks, Among Others

12.3.3 UK

12.3.3.1 Orders for New Family of Ajax Multi-Role Armored Vehicles in 2018-2019

12.3.4 Germany

12.3.4.1 Modernization Programs for Naval, Airborne, and Land Fleets

12.3.5 Italy

12.3.5.1 High Procurement Spending in 2019 is Expected to Drive the Market in Italy

12.3.6 Spain

12.3.6.1 Three Military Modernization Programs Planned Until 2032

12.3.7 Poland

12.3.7.1 Multi-Billion Military Modernization Program by Poland

12.4 Asia Pacific

12.4.1 China

12.4.1.1 Major Expansions in Navy and Air Force Are Driving the Market in China

12.4.2 India

12.4.2.1 Five-Year Modernization Plan for Its Armed Forces is Driving the Market in India

12.4.3 Japan

12.4.3.1 Increased Funding for the Acquisition of New Combat Aircraft

12.4.4 South Korea

12.4.4.1 Estimated Multi-Billion Spending on Arms Purchase for Troops in 2020

12.4.5 Australia

12.4.5.1 Procurement of New Military Platforms from 2020 to 2028

12.5 Middle East

12.5.1 Saudi Arabia

12.5.1.1 Multi-Billion Contracts with the Us Drive the Tactical Optics Market in Saudi Arabia

12.5.2 Turkey

12.5.2.1 Substantial Rise in Military Spending in 2018

12.5.3 Israel

12.5.3.1 Ongoing Procurement of Armored Vehicles and Combat Aircraft to Drive the Market in Israel

12.6 South America

12.6.1 Brazil

12.6.1.1 Short and Medium-Term Investments to Modernize Armed Forces in Brazil

12.6.2 Mexico

12.6.2.1 Procurement of Armored Vehicles and Weapons for Soldiers

13 Competitive Landscape - Tier 1 Companies

13.1 Introduction

13.2 Competitive Analysis

13.3 Market Ranking Analysis, 2019

13.4 Competitive Leadership Mapping

13.4.1 Visionary Leaders

13.4.2 Innovators

13.4.3 Dynamic Differentiators

13.4.4 Emerging Companies

13.5 Strength of Product Portfolio

13.6 Business Strategy Excellence

13.7 Competitive Scenario

13.7.1 Contracts

13.7.2 New Product Developments

13.7.3 Acquisitions

14 Competitive Landscape - Tier 2 & 3 Companies

14.1 Introduction

14.2 Competitive Analysis

14.3 Market Ranking Analysis, 2019

14.4 Competitive Leadership Mapping

14.4.1 Visionary Leaders

14.4.2 Innovators

14.4.3 Dynamic Differentiators

14.4.4 Emerging Companies

14.5 Strength of Product Portfolio

14.6 Business Strategy Excellence

14.7 Competitive Scenario

14.7.1 Contracts

14.7.2 New Product Launches

14.7.3 Acquisitions and Partnerships

15 Company Profiles

15.1 Leonardo S.p.A.

15.2 BAE Systems, PLC

15.3 Elbit Systems Ltd.

15.4 Kongsberg Gruppen As

15.5 L3Harris Technologies

15.6 Lockheed Martin Corporation

15.7 Northrop Grumman Corporation

15.8 Raytheon Company

15.9 Thales Group

15.10 Saab Ab

15.11 Rafael Advanced Defense Systems Ltd.

15.12 Flir Systems, Inc.

15.13 Israel Aerospace Industries

15.14 Wuhan Joho Technology Co. Ltd.

15.15 Aimpoint

15.16 Atn Corporation

15.17 Bushnell Corporation

15.18 Burris Company, Inc.

15.19 Leupold & Stevens, Inc.

15.20 Nightforce Optics

15.21 Sig Sauer, Inc.

15.22 Sightmark

15.23 Trijicon Inc.

15.24 Vortex Optics

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