The military optronics surveillance and sighting systems market size is projected to reach US$ 26,852.12 million by 2031 from US$ 17,358.98 million in 2023. The market is expected to register a CAGR of 5.6% during 2023–2031. The rising development of multiple data sharing and storing capabilities-based surveillance and sighting systems is likely to bring new key trends in the market in the coming years.
With the increasing innovation and rising threat of terrorist attacks at night, the adoption of night vision devices is rising. Likewise, thermal imaging helps soldiers locate a target in poor visibility conditions. Thermal imaging night vision devices are gaining popularity across the globe to strengthen individual warfighter systems. Night vision devices provide soldiers with greater situational awareness by illuminating their surroundings during nighttime operations. Increasing government initiatives to develop and adopt advanced technologies-based lightweight night vision devices have created massive demand for the military optronics surveillance & sighting systems market growth. For instance, in January 2022, The Defence Advanced Research Projects Agency (DARPA) of the US Department of Defence selected 10 defense and university research teams for the development of lightweight night vision optics for military soldiers in America. The department designed the Enhanced Night Vision in Eyeglass Form (ENVision) program to adopt the new technology to develop night vision systems.
Increasing deployment of UAVs across the globe to protect lands from neighboring countries is expected to create ample opportunity for the optronics surveillance and sighting system market growth during the forecast period. For instance, in 2022, the Indian Army deployed the first batch of more than 25 Israeli-made UAVs named Searcher Mark II. . Moreover, in May 2024, The US government began delivering UAVs to its military as part of its government program to counter China's defense capabilities. Also, in March 2023, scientists in China developed a military drone that is capable of rapidly splitting into six separate units in midair. These drones are made with air separation technologies. Such increasing investment and deployment of UAVs by several countries' governments is expected to create ample opportunities for the optronics surveillance and sighting system market during the forecast period.
Military optronics, surveillance, and sighting systems equip personnel with sufficient tools to identify, track, monitor, and engage threats in airborne, land, and naval warfare environments. These systems provide the armed force with precision detection, recognition, and identification of targets and situational awareness using an integration of high-performance optical components and advanced sensors. Additionally, the optronics, surveillance, and sighting systems find application in meeting the border control, base protection, reconnaissance, and intelligence gathering mission requirements. Technological advancements in optronics and surveillance systems, coupled with the ongoing demand for defense forces to upgrade their existing equipment and systems, are driving the global military optronics, surveillance, and sighting systems market.
With the increasing innovation and rising threat of terrorist attacks at night, the adoption of night vision devices is rising. Earlier, night vision devices used relatively heavier components, adding weight to a soldier. Various market players are now introducing lightweight night vision products. For example, ACTinBlack has developed a lightweight binocular night vision device with high optical performance and an ergonomic design. In October 2023, Thermoteknix Systems, a US-based thermal imaging and augmented reality (AR) company, launched a night-vision solution called the Fused Night Vision Goggle with advanced Augmented Reality (FNVG-AR). FNVG-AR system is a lightweight binocular night vision goggle (NVG) integrated with advanced technology-based next-generation 16 mm white phosphor night vision tubes and a high-resolution thermal imager.
Unmanned systems have become an integral part of military forces worldwide as they reduce the risk to human lives. Due to the various benefits offered by unmanned aerial vehicles (UAVs), many countries, such as the US, India, and China, have allocated substantial budgets to deploy more UAVs in their military forces, primarily for surveillance applications. Deploying optronics surveillance and sighting systems on unmanned platforms facilitates the transmission of surveillance and imagery data. The integration of unmanned systems with communication antennas and other surveillance equipment assists in various critical missions. Therefore, the increasing deployment of UAVs for airborne and naval surveillance and mapping missions is resulting in a growing need for optronics surveillance and sighting systems that can be effectively integrated within the UAV platform without hampering its overall efficiency. Thus, several major industry players, including Rafael Advanced Defense Systems Ltd. and Lockheed Martin, in the military optronics surveillance and sighting system market emphasize developing and offering optronics surveillance and sighting systems for UAV platforms.
Key segments that contributed to the derivation of the military optronics surveillance and sighting systems market analysis are type, component, and end users.
The geographic scope of the military optronics surveillance and sighting systems market report offers a detailed global analysis. North America, Europe, and Asia Pacific are major regions witnessing significant growth in the Military Optronics Surveillance and Sighting Systems Market. The military optronics surveillance & sighting systems market in North America is further segmented into the US, Canada, and Mexico. In 2023, the US dominated the military optronics surveillance & sighting systems market in North America with a significant market share in 2023, followed by Canada and Mexico. These developed economies spend a considerable portion of their GDP on military expenditure. As per the World Bank collection of development indicators, which are compiled from officially recognized sources, military expenditure in the US was reported to be ~3.5% of its GDP in 2023. Also, in the fiscal year 2023, the US government spent US$ 820 billion on the national defense sector, according to the US Federal Department of Budget. The amount was estimated to be 13% of the US federal spending. Major players in the market are developing advanced technologies based on airborne optronics surveillance systems, advanced digital thermal imaging cameras, track & search systems, and others. For instance, the US-based Obsidian Sensors Inc. launched a new technology in 2023 that processes thermal imaging using affordable high-resolution sensors.
The regional trends and factors influencing the Military Optronics Surveillance and Sighting Systems Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Military Optronics Surveillance and Sighting Systems Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 17,358.98 Million |
| Market Size by 2031 | US$ 26,852.12 Million |
| Global CAGR (2023 - 2031) | 5.6% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Military Optronics Surveillance and Sighting Systems Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Military Optronics Surveillance and Sighting Systems Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The military optronics surveillance and sighting systems market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the military optronics surveillance and sighting systems market are listed below:
The "Military Optronics Surveillance and Sighting Systems Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering:
The List of Companies - Military Optronics Surveillance and Sighting Systems Market
Lockheed Martin Corporation, Thales Group, General Dynamics Corporation, L3Harris Technologies Inc., Israel Aerospace Industries, Leidos inc., Rafael Advanced Defense Systems Ltd., Raytheon Company, Safran S.A are the leading players operating in the global military optronics surveillance and sighting systems market.
The estimated value of the global military optronics surveillance and sighting systems market by 2031 is US$ 26,852.12 million.
The North America dominated the global military optronics surveillance and sighting systems market in 2023.
Government bodies of several countries are investing heavily to improve their surveillance and sighting systems to protect their land is one of the factors that is driving the demand of the military optronics surveillance and sighting systems.
Rising demand for advanced technology-based optronics to facilitate better decision-making on the battlefield is expected to spur the demand for optronics surveillance and sighting systems in the near future. The rising demand for various products, such as cameras with multiple data sharing and storage facilities, will drive market growth.