Technological advancements in optronics and surveillance systems, coupled with the ongoing demand of defense forces to upgrade their existing equipment and systems, are driving the global military optronics surveillance & sighting systems market. Moreover, an upsurge in demand for advanced and accurate surveillance systems in the military sector is boosting the market’s growth significantly. Territorial disputes among countries have propelled the demand for such systems to protect their borders. For example, rising disputes among China, Vietnam, and the Philippines have forced the Chinese government agencies to increase their military activities in the South China Sea. They conducted a series of naval maneuvers and exercises using advanced military optronics, surveillance, and sighting systems in March and April 2018.
Lockheed Martin Corporation; L3Harris Technologies, Inc.; Elbit Systems Ltd.; Thales Group; and Safran – Prominent Market Participants in Military Optronics Surveillance & Sighting Systems Market
Additionally, a surge in military modernization initiatives and the emergence of technologically advanced military optronics, surveillance, and sighting systems are projected to boost the market growth in upcoming years. In January 2021, Lockheed Martin Corp. announced three new next-generation infrared spacecraft to help detect enemy ballistic missile launches. With this, the company hopes to strengthen its position in the global market.
The rising demand for products, such as cameras, with multiple data sharing and storing facilities is anticipated to drive the market over the next few years. HD cameras with cloud storage facilities are likely to be in high demand in the near future. These cameras find extensive usage in the military and defense sector for ensuring the safety and accessibility of crucial evidences from any smartphone, even if the camera is lost or damaged.
The demand for cloud storage and multiple data-sharing products is projected to rise due to their rising need in the military and defense sector. Terrorist activities and attacks are also a crucial factor behind the rising need for sighting systems. The high requirement for advanced and accurate surveillance systems across the world is anticipated to accelerate the demand for optronics surveillance and sighting systems substantially.
Lockheed Martin Corporation; L3Harris Technologies, Inc.; Elbit Systems Ltd.; Thales Group; and Safran are some of the key military optronics surveillance & sighting systems vendors across the world. The listing of key players is derived by considering multiple factors, such as overall revenue, current military optronics surveillance & sighting systems product portfolio, geographical reach, new product launches, market initiatives, and investment in technology upgradation, partnerships, and other market related activities. In addition to these companies, there are several other prominent players operating in this market, which were analyzed during the course of this market research study.
Most of the market initiatives were observed in Asia Pacific (APAC), which has a high potential for market-related products, solutions, and services. Some of the significant market initiatives from the industry are mentioned below:
| Year | News | Country |
| 2021 | Israeli startup SixAI and Israel Aerospace Industries Ltd. (IAI) have partnered for commercializing IAI’s technologies and adapting them according to recent civilian market’s needs. | APAC |
| 2021 | The British Ministry of Defense had employed Rafael Advanced Defense Systems’ DRONE DOME counter-UAV system for protecting world leaders during the G7 Summit in England from unmanned aerial threats. | APAC |
