Global Electro Optical Systems Market Rises With Non-destructive Testing in Aerospace

The electro optical systems mainly find application in non-destructive testing in the aerospace sector. Border protection agencies typically leverage the systems for surveillance so as to thwart attempts of intrusion by suspicious persons. Such uses are likely to stoke growth in the global optical systems market going forward.

The fortunes of the global electro optical market are tied to that of the growth in the aerospace and defense and military sectors. They are a part of the radar systems and hence can detect unwanted intrusion. Besides, those can also be used for non-destructive testing in the aerospace sector.

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The electro optical systems are used for non-destructive testing in the aerospace sector and the border protection agencies make use of these systems for monitoring intrusion attempts.

The global electro optical systems market is also being driven by their usage in land and ship for uncovering stealth aircraft effectively. The systems are also useful for uncovering low and observable missiles. Naval platforms these days are leveraging electro optical systems in weapon systems for target engagement or acquisitions.

Market Growth Catalyzed by Emphasis on Building Better Systems

The growth in the global electro-optical market is also being catalyzed by the thrust on building cost efficient systems that are both powerful and lightweight. Such systems can go a long way in bettering the competence of crucial surveillance and defense operations. Aerospace, homeland security, and defense are adopting electro-optical systems, and this is having a major positive impact on the market.

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The lasers are the most used part of electro-optical systems. They can emit radiation and are often outfitted in unmanned vehicles to offer wide ranging functions. Those include finding the range, imaging, surveillance, and target acquisition.

Electro-Optical Market used on Ships and Lands for Tracking by 2025

Electro-Optical Market: Snapshot

The growth of the global electro optical market is vastly dependent on the growth of military and defense and aerospace sector. This is because electro optical systems are extensively used by these aforementioned sectors for testing. The electro optical systems are used for non destructive testing in the aerospace sector and the border protection agencies make use of these systems for monitoring intrusion attempts. As terrorist activities are on a rise, there is a constant need for surveillance and the need to prevent intrusion attempts by any suspicious person. This will create a favorable environment for the growth of the global electro optical market during the period from 2017 to 2025, expanding at a healthy CAGR.

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Along with radar systems, electro optical systems are being used on ships and lands for tracking stealth aircraft effectively. These systems are also helpful for detecting low observable missiles. Naval platforms are making use of electro optical systems in CIWS or close in weapon system for target engagement and acquisition. The structural integrity of a component is checked by laser and infrared electro optical variants. The growing initiatives taken by naval, aerospace, defense and military sectors for up gradation will bode well for the global electro optical market. There is a need for developing safe eye lasers that are harmless and cause no strain and harm to a soldier’s eye and this is expected to create opportunities of growth for the market. In the years to come, it is estimated that the airborne electro optic systems will see a higher demand owing to their use in unmanned aerial vehicles (UAVs).

Global Electro-Optical Market: Overview

The electro-optical market is gaining significant momentum across the world. Vendors have focused on developing powerful, lightweight, yet cost efficient systems that can improve the competence of critical operations involved in missions. The aerospace, defense, and the homeland security agencies are increasingly deploying electro-optical systems, which is reflecting positively on the growth of this market.

The most-used part for electro-optical systems is laser, which is highly competent of emitting radiation from the entire scope of the optical spectrum. It is utilized as a targeting tool for a several projectiles and missiles in military applications. These systems are also deployed into unmanned vehicles to provide a wide range of functions, such as range finding, target acquisition, imaging, and surveillance.

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This research report, prepared using various paid and unpaid sources, provides a comprehensive and in-depth assessment of the worldwide electro-optical market. It helps in identifying prominent trends, driving forces, opportunities, restraints, and growth prospects of this market at both, regional as well as global level, which makes it a reliable business tool. It also offers qualitative as well as quantitative insights into the competitive landscape of this market by reviewing the profiles of the main companies on the basis of their market shares, business strategies, product details, revenue structure, and significant development. A SWOT analysis of each of the participants has also been performed in this study to determine their potential growth trajectory.

Global Electro-Optical Market: Growth Drivers and Restraints

The main driving force behind the rise of the global electro-optical market is the substantial growth in the demand for intelligence, surveillance, and reconnaissance. In addition to this, the increasing technological advancements in this field are also expected drive significant growth in this market over the forthcoming years.

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On the other hand, budgetary cuts by defense on electro optical systems may limit the growth of this market to some extent in the years to come. However, the rising deployment of electro-optical systems in military, aerospace and homeland security, owing to various advantages of electro-optic technology, will continue to boost this market in the near future.

Global Electro-Optical Market: Segmentation

The worldwide electro-optical market is generally studied on the basis of the type of product, application, end users, and the geography. Based on the type of product, the market is classified into infrared and laser. Based on the application, the market is categorized into defense, airborne, naval, and land based systems. By end users, the market is segmented into the defense, aerospace, and the homeland security sectors. Geographically, the market is divided into North America, Asia Pacific, Europe, and the Rest of the World including Latin America, the Middle East, and Africa.

Global Electro-Optical Market: Companies Mentioned in the Report

Some of the leading players in the global electro-optical market are Sagem, Flir Systems Inc., Ultra-Electronics, BAE Systems, SAAB, DRS Technologies Inc., General Atomics Aeronautical Systems Inc., Thales Group, Raytheon Co., Rheinmetall, Elbit Systems Ltd., Lockheed Martin, and L3-Communications.

Need for Unmanned Surveillance to Drive Electro-Optical Systems Market

San Francisco, California, August 04, 2017: A latest report by TMR, titled “Electro-Optical Market – Global Industry Analysis, Market Size, Share, Trends, Analysis, Growth and Forecast 2017 – 2025,” sheds light on development and growth rate of the global electro-optical market. The report analyses the major trends, driving factors, restraints, and opportunities available in the market at both regional and global level. The report suggests that the development of the global electro-optical market could largely depend on the development of aerospace and military and defense sector. These sectors extensively make use of electro-optical systems and thus, development of the mentioned sectors could play an important role in the market development. With constant improvements in the field of surveillance technology and need to thwart intrusion attempts by terrorists or any suspicious individuals, the report expects that the global electro-optical market will flourish in the aforementioned period of 2017-2025.

The vendors all over the world are now focusing on developing lightweight, powerful yet economical systems that can enhance the ability of carrying out critical operations in missions. Defense, homeland security agencies, aerospace sector are all using electro-optical systems and are thus expected to propel the growth of the market. Laser is the most-utilized past of the electro-optical systems that is highly effective for emitting radiation from the whole scope of the optical spectrum. Thus, it is mainly used by the military applications, in unmanned vehicles that are deployed for surveillance, target acquisition, imaging, and range finding.

The report expects that significant growth in the demand for surveillance, reconnaissance, and intelligence to be the main driving factors for the development of the global electro-optical market. In addition to this, rapid advancements in military technology is also expected to be a substantial development factor of the electro-optical market in the coming years. However, the report anticipates that possible budget reductions in the defense sector can curb the growth of the market by some margin in the near future. But, with all the military and defense sector, homeland security agencies, aerospace security sector relying on electro-optical systems, the chances of growth of the market will continue to be high.

The report on the global electro-optical systems market suggests that the market can be divided on the basis of its application, type of product, the geography and end users. Depending on the type of product, the market can be further segmented into laser and infrared. The end-user segment of the global electro-optical systems market can be divided into homeland security agencies, aerospace, and defense. On the basis of application of electro optical systems, the market is segmented into land-based systems, defense, airborne, and naval systems. Depending on the geographical regions, the market can be further segmented into Europe, Asia Pacific, North America and the Rest of the World that includes the Middle East, and Latin America and Africa.

Some of the major key players mentioned in the report on the global electro-optical systems market are Flir Systems Inc., Sagem, BAE Systems, Ultra Electronics, SAAB, DRS Technologies Inc., among others.

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