North America Military Optronics Surveillance and Sighting Systems Market

Market Introduction

The military optronics surveillance & sighting systems market in North America is further segmented into the US, Canada, and Mexico. In 2020, the North American military optronics surveillance & sighting systems market was dominated by the US with around 72% market share, followed by Canada and Mexico. These developed economies spend considerable portion of their GDP on military expenditure. As per the World Bank collection of development indicators, which is compiled from officially recognized sources, military expenditure in United States is reported to be around 3.74 % of its GDP in 2020. Advanced technologies like multispectral technology utilized in airborne optronics with surveillance system, track & search system and others is expected to accelerate the demand from military and defense sector across the region.

The US has the highest military expenditure across the world that makes North America largest market for military technologies. Despite the COVID-19 pandemic, the worldwide military expenditure has witnessed a growth of nearly 4% wherein almost majority of countries have increased their military budget except few of the countries. Moreover, the US is known for its military power and highest spending in defense technology, accounted for around 29% of the total military optronics surveillance & sighting systems market in 2020, according to the study. Also, the US witnessed a decline of 3.4% in FY 2020 in the market owing to the pandemic challenges faced by the vendors for their operations during the FY 2020 where all other countries were also facing the demand and supply gap across their respective military technologies market. In addition, the military technology manufacturers observed drop in deliveries for new defense technologies, cancelation or rescheduling of military orders and deliveries. Also, labor shortage, and other factors that hampered their businesses and ability to deliver substantial volumes of new products to the customers. The increase in order backlogs and orders along with disrupted supply chain led to decline in the revenues of the military optronics surveillance & sighting systems market.           

Market Overview and Dynamics

The military optronics surveillance and sighting systems market in North America is expected to grow from US$ 6,147.19 million in 2021 to US$ 8,328.13 million by 2028; it is estimated to grow at a CAGR of 4.4% from 2021 to 2028. US Army research laboratory’s Sensor and Electron Devices Directorate (SEDD) has developed quantum well infrared detector (QWID) technology. This technology is especially sensitive to infrared waves which are of mid-long lengths. Sensors Unlimited, a Collins Aerospace Company is the leader in short wave infrared InGaAs photodiodes, cameras and arrays for night vision technology. Sensors Unlimited works on various projects for the Department of Defense of the United Sates, through Defense Advanced Research Projects Agency (DARPA) and the Night Vision Laboratory (NVL) of the U.S. Army. Advanced technologies like multispectral technology utilized in airborne optronics with surveillance system, track & search system and others is expected to accelerate the demand from military and defense sector across the region. Excelitas Technologies Corp. is one of the well-known companies in the North America region that offers thermal cameras, missile optronics, maritime optronic solutions, laser designator optics and many other defense relevant products. Leonardo Land & Naval Defense Electronics provides leading edge capabilities in the domain of electro-optical (EO) systems and technologies. Considering growing threat of terrorist activities, demand for military optronics surveillance and sighting systems is anticipated to growing considerably in the North America region in coming years.   

Key Market Segments

North America military optronics surveillance and sighting systems market is segmented into technology, device type, platform, and country. The North America military optronics surveillance and sighting systems market on the basis of offering is segmented into image intensification, military laser systems, electro-optics/infrared. electro-optics/infrared segment held the largest market share in 2020. Based on device type, the North America military optronics surveillance and sighting systems market is segmented into night vision devices, handheld thermal imaging devices, integrated observation equipment, standalone infrared, seismic and acoustic sensors, and others. Seismic and acoustic sensors segment held the largest market share in 2020. On the basis of platform, the North America military optronics surveillance and sighting systems market is segmented into ground, airborne, naval. Ground segment held the largest market share in 2020. Based on country, the North America military optronics surveillance and sighting systems market is segmented into US, Canada, and Mexico. The US held the largest market share in 2020.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the military optronics surveillance and sighting systems market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are HENSOLDT, Israel Aerospace Industries, L3Harris Technologies Inc., Lockheed Martin Corporation, Rafael Advanced Defense Systems Ltd., Raytheon Company, Safran S.A., Teledyne FLIR LLC, Thales Group, and Ultra Electronics Holdings plc.        

Reasons to buy report

• To understand the North America military optronics surveillance and sighting systems market landscape and identify market segments that are most likely to guarantee a strong return.
• Stay ahead of the race by comprehending the ever-changing competitive landscape for North America military optronics surveillance and sighting systems market.
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• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form North America military optronics surveillance and sighting systems market.
• Obtain market revenue forecast for market by various segments from 2021-2028 in North America region.

North America Military optronics surveillance and sighting systems Market Segmentation

North America Military Optronics Surveillance and Sighting Systems Market - By Product Type

• Image Intensification
• Military Laser Systems
• Electro-Optics/Infrared

North America Military Optronics Surveillance and Sighting Systems Market - By Modularity

• Night Vision Devices
• Handheld Thermal Imaging Devices
• Integrated Observation Equipment
• Standalone Infrared
• Seismic and Acoustic Sensors
• Others

North America Military Optronics Surveillance and Sighting Systems Market - By

Industry Vertical

• Ground
• Airborne
• Naval

North America Military Optronics Surveillance and Sighting Systems Market – By

Country

• US
• Canada
• Mexico

North America Military Optronics Surveillance and Sighting Systems Market - Company Profiles

• HENSOLDT
• Israel Aerospace Industries
• L3Harris Technologies Inc.
• Lockheed Martin Corporation
• Rafael Advanced Defense Systems Ltd.
• Raytheon Company
• Safran S.A.
• Teledyne FLIR LLC
• Thales Group
• Ultra Electronics Holdings plc.

North America Military Optronics Surveillance and Sighting Systems Market Strategic Insights

North America Military Optronics Surveillance and Sighting Systems Market Segmentation Analysis

North America Military Optronics Surveillance and Sighting Systems Market Report Highlights

North America Military Optronics Surveillance and Sighting Systems Report Scope

North America Military Optronics Surveillance and Sighting Systems Market Country and Regional Insights