Product Code: CMI7319
Global electro optical targeting system market is estimated to be valued at USD 13.96 Bn in 2024 and is expected to reach USD 20.18 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 5.4% from 2024 to 2031.
Report Coverage |
Report Details |
Base Year: |
2023 |
Market Size in 2024: |
US$ 13.96 Bn |
Historical Data for: |
2019 to 2023 |
Forecast Period: |
2024 to 2031 |
Forecast Period 2024 to 2031 CAGR: |
5.40% |
2031 Value Projection: |
US$ 20.18 Bn |
Figure. Electro Optical Targeting System Market Share (%), By Region, 2024
Global electro optical targeting system market growth is driven by rising defense spending across major economies for procuring advanced targeting systems. Electro optical targeting system (EOTS) enhances situational awareness and precision strike capability of platforms like tanks, aircraft and UAVs. It assists in target detection, recognition and identification through day and night vision beyond the visible spectrum. With modern warfare relying greatly on network centric capabilities and real-time battlefield intelligence, EOTS has become a crucial component of military hardware. Major defense contractors have been investing heavily in developing next generation EOTS with advanced sensor fusion, artificial intelligence and autonomous tracking features to gain technological edge.
Market Dynamics:
The market growth is driven by factors such as increasing procurement of unmanned combat platforms, modernization of legacy targeting systems and growing emphasis on networked precision fires. However, high investment and maintenance costs of EOTS can hamper the market growth. Ongoing R&D in miniaturization of components and development of multi-sensor EOTS can offer market growth opportunities. Market players focus on integrating EOTS into small drones and guided ammunitions. Adoption of artificial intelligence for automating target detection can also offer growth opportunities Collaborations between technology companies and armed forces can boost innovations in electro optical and infrared targeting technologies.
Key features of the study:
This report provides in-depth analysis of the global electro optical targeting system market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players such as BAE Systems, Elbit Systems, FLIR Systems, General Atomics, Harris Corporation, Hensoldt, Leonardo S.p.A., L3 Technologies, Northrop Grumman, Raytheon Technologies, Rheinmetall AG, Saab Group, Sagem, Thales Group, and Ultra Electronics
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
Global electro optical targeting system market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Detailed Segmentation-
- By Platform Insights (Revenue, USD Bn, 2019 - 2031)
- Aircraft
- Ground Vehicles
- Naval Vessels
- Handheld/Portable
- By Application Insights (Revenue, USD Bn, 2019 - 2031)
- Intelligence, Surveillance, and Reconnaissance (ISR)
- Targeting
- Weapon Guidance
- Others
- By End User Insights (Revenue, USD Bn, 2019 - 2031)
- Military
- Homeland Security
- Law Enforcement
- Others (Research, Commercial, etc.)
- By Regional Insights (Revenue, USD Bn, 2019 - 2031)
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- South Africa
- North Africa
- Central Africa
- Key Players Insights
- BAE Systems
- Elbit Systems
- FLIR Systems
- General Atomics
- Harris Corporation
- Hensoldt
- Leonardo S.p.A.
- L3 Technologies
- Northrop Grumman
- Raytheon Technologies
- Rheinmetall AG
- Saab Group
- Sagem
- Thales Group
- Ultra Electronics
Table of Contents
1. Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
2. Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Global Electro Optical Targeting System Market, By Platform
- Global Electro Optical Targeting System Market, By Application
- Global Electro Optical Targeting System Market, By End User
- Global Electro Optical Targeting System Market, By Region
3. Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Impact Analysis
- Key Highlights
- Regulatory Scenario
- Product Launches/Approvals
- PEST Analysis
- PORTER's Analysis
- Merger and Acquisition Scenario
4. Global Electro Optical Targeting System Market, By Platform, 2019-2031, (USD Bn)
- Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020- 2031
- Segment Trends
- Aircraft
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Ground Vehicles
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Naval Vessels
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Handheld/Portable
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
5. Global Electro Optical Targeting System Market, By Application, 2019-2031, (USD Bn)
- Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
- Intelligence, Surveillance, and Reconnaissance (ISR)
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Targeting
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Weapon Guidance
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
6. Global Electro Optical Targeting System Market, By End User, 2019-2031, (USD Bn)
- Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
- Military
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Homeland Security
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Law Enforcement
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Others (Research, Commercial, etc.)
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
7. Global Electro Optical Targeting System Market, By Region, 2019 - 2031, (USD Bn)
- Introduction
- Market Share (%) Analysis, 2024,2027 & 2031, (USD Bn)
- Market Y-o-Y Growth Analysis (%), 2020- 2031, (USD Bn)
- Regional Trends
- North America
- Introduction
- Market Size and Forecast, By Platform, 2019 - 2031, (USD Bn)
- Market Size and Forecast, By Application, 2019 - 2031, (USD Bn)
- Market Size and Forecast, By End User, 2019 - 2031, (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, (USD Bn)
- Latin America
- Introduction
- Market Size and Forecast, By Platform, 2019 - 2031, (USD Bn)
- Market Size and Forecast, By Application, 2019 - 2031, (USD Bn)
- Market Size and Forecast, By End User, 2019 - 2031, (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, (USD Bn)
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Introduction
- Market Size and Forecast, By Platform, 2019 - 2031, (USD Bn)
- Market Size and Forecast, By Application, 2019 - 2031, (USD Bn)
- Market Size and Forecast, By End User, 2019 - 2031, (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, (USD Bn)
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- Introduction
- Market Size and Forecast, By Platform, 2019 - 2031, (USD Bn)
- Market Size and Forecast, By Application, 2019 - 2031, (USD Bn)
- Market Size and Forecast, By End User, 2019 - 2031, (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, (USD Bn)
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- Introduction
- Market Size and Forecast, By Platform, 2019 - 2031, (USD Bn)
- Market Size and Forecast, By Application, 2019 - 2031, (USD Bn)
- Market Size and Forecast, By End User, 2019 - 2031, (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, (USD Bn)
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- Introduction
- Market Size and Forecast, By Platform, 2019 - 2031, (USD Bn)
- Market Size and Forecast, By Application, 2019 - 2031, (USD Bn)
- Market Size and Forecast, By End User, 2019 - 2031, (USD Bn)
- Market Size and Forecast, By Country/Region, 2019 - 2031, (USD Bn)
- South Africa
- North Africa
- Central Africa
8. Competitive Landscape
- BAE Systems
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Elbit Systems
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- FLIR Systems
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- General Atomics
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Harris Corporation
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Hensoldt
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Leonardo S.p.A.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- L3 Technologies
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Northrop Grumman
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Raytheon Technologies
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Rheinmetall AG
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Saab Group
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Sagem
- Thales Group
- Ultra Electronics
9. Analyst Recommendations
- Wheel of Fortune
- Analyst View
- Coherent Opportunity Map
10. References and Research Methodology
- References
- Research Methodology
- About us