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Target Acquisition Systems Market

Target Acquisition Systems Market Size Study, By Sub-Systems (Cameras, Scopes & Sights, Detecting & Locating Systems, Modules, Others), By End-Use (Military, Homeland Security), By Platform (Land, Airborne, Naval), By Range (Short Range, Medium Range, Long Range), And By Regions | Global Market Forecasts 2022-2028

Report Id: SNS/A&D/1170 | May 2022 | Region: Global | 125 Pages

Report Scope & Overview:

Target Acquisition Systems Market Size was valued at USD 13.35 billion in 2021, and is expected to reach USD 19.41 billion by 2028, and grow at a CAGR of 5.49% over the forecast period 2022-2028.

Target acquisition systems are multi-purpose weapon systems that are used to identify, locate, and detect targets in order to employ lethal and non-lethal weapons effectively. An enemy commander can use a wide range of resources to conduct operations, including mobile and stationary units, forces, equipment, capabilities, facilities, people, and functions. Target acquisition, as opposed to surveillance on one and target tracking, is the process by which a weapon system decides which object to lock on to. Because of their increased use in intelligence, surveillance, and reconnaissance (ISR) missions, talent acquisition systems are in high demand. Target acquisition systems work in tandem with missile and bomb guidance mechanisms, as well as battlefield management systems. Advances in automatic weapons, increases in national defense spending, increased demand for artillery systems by military forces, and ongoing military modernization programs globally are some of the major factors predicted to drive the progress of the target acquisition systems market. The high operational cost of target acquisition systems, on the other hand, may limit the global target acquisition systems market's growth. Increasing investment in research and development (R&D) for the development of technologically advanced systems for defense applications, on the other hand, is an opportunity for the future.

Target Acquisition Systems Market Revenue Graph

MARKET DYNAMICS:

KEY DRIVERS:

  • Advancing technology

  • Automatic weapon

  • High budget

RESTRAINTS:

  • High Cost

  • Hamper growth

  • Bad weather condition

OPPORTUNITIES:

  • High revenue for the market player

  • Demand for artillery system

  • Investment in R&D sector

CHALLENGES:

  • This is included in the final report.

THE IMPACT OF COVID-19

Due to the nature of the COVID-19, the procurement industries targeted for research and development worldwide, have been disrupted due to announced closures and government restrictions on public gatherings. The production rate of the target acquisition system is disrupted due to the COVID-19 epidemic. The supply chain for the remaining parts of the talent acquisition programs has also been adversely affected by the temporary closure of a few defense industries.

There will be a huge increase in demand in the global targeted acquisition systems market soon as the world moves towards normalcy. After COVID-19, the target acquisition system market could see significant growth as several countries have already ordered or planned to purchase their own systems for such systems.

By Range:

The short-range (0–8 km) segment is expected to grow at the fastest CAGR during the forecast period. The expansion of the short-range segment can be attributed to the increasing demand for short-range target acquisition systems with higher accuracy than long-range artillery systems.

By Platform:

The naval segment of the target acquisition systems market is expected to grow at the fastest CAGR during the forecast period, based on the platform. The acquisition of widely used target acquisition systems, such as destroyers, corvettes, frigates, offshore patrol vessels, unmanned surface vessels, and amphibious ships, has contributed to the growth of this segment.

By End-use:

The military segment of the target acquisition systems market is expected to grow at a faster CAGR during the forecast period than the homeland security segment. The increasing use of unmanned surveillance systems is expected to drive demand for target acquisition systems used in ISR applications. The United States makes a significant contribution to military modernization programmers, and companies look to the United States because it has a large defense budget.

Key Market Players

Major players in the target acquisition systems market include Rheinmetall, BAE Systems, Israel Aerospace Industries, Aselsan A.S., Elbit Systems, Hensoldt, Leonardo, and Raytheon Company, among others. These players have adopted various growth strategies, such as contracts, agreements, and partnerships, to further expand their presence in the global target acquisition systems market.

KEY MARKET SEGMENTS:

by Platform

  • Land
  • Airborne
  • Naval

by Sub-systems

  • Cameras

  • Scopes & sights

  • Detecting & locating systems

  • Modules

  • others

by Range

  • Short range

  • Medium range

  • Long range

by End-use

  • Military

  • Homeland

  • Security

Target Acquisition Systems Market Segment Chart

Regional Analysis:

The presence of prominent players and a large military budget are factors driving the target market's growth in North America. North America is expected to account for the majority of revenue over the forecast period. Furthermore, rising demand for target acquisition systems, particularly in the United States, is propelling the target market in this region forward. Asia Pacific is expected to account for the second-largest revenue share in the near future, followed by Europe, the Middle East and Africa, and Latin America. Increased defense budgets in countries such as India and China, as well as increased adoption of technologically advanced systems, are expected to drive growth in the target acquisition systems market over the next 10 years.

REGIONAL COVERAGE:

North America

  • USA

  • Canada

  • Mexico

Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • The Netherlands

  • Rest of Europe

Asia-Pacific

  • Japan

  • South Korea

  • China

  • India

  • Australia

  • Rest of Asia-Pacific

The Middle East & Africa

  • Israel

  • UAE

  • South Africa

  • Rest of Middle East & Africa

Latin America

  • Brazil

  • Argentina

  • Rest of Latin America

Target Acquisition Systems Market Report Scope:
Report Attributes Details
Market Size in 2021 US$ 13.35 Billion
Market Size by 2028 US$ 19.41 Billion
CAGR CAGR of 5.49% From 2022 to 2028
Base Year 2021
Forecast Period 2022-2028
Historical Data 2017-2020
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Sub-Systems (Cameras, Scopes & Sights, Detecting & Locating Systems, Modules, Others)
• By End-Use (Military, Homeland Security)
• By Platform (Land, Airborne, Naval)
• By Range (Short Range, Medium Range, Long Range)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Rheinmetall, BAE Systems, Israel Aerospace Industries, Aselsan A.S., Elbit Systems, Hensoldt, Leonardo, and Raytheon Company, among others.
DRIVERS • Advancing technology
• Automatic weapon
• High budget
RESTRAINTS • High Cost
• Hamper growth
• Bad weather condition


Frequently Asked Questions (FAQ) :


Table of Contents:

 

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

 

2. Research Methodology

 

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

 

4. Impact Analysis

4.1 COVID 19 Impact Analysis

4.2 Impact of Ukraine War

 

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7.  PEST Analysis

 

8. Global Target Acquisition Systems Market, by Platform

8.1 Land

8.2 Airborne

8.3 Naval

 

9. Global Target Acquisition Systems Market, by Sub-systems

9.1 Cameras

9.2 Scopes & sights

9.3 Detecting & locating systems

9.4 Modules

9.5 others

 

10. Global Target Acquisition Systems Market, by Range

10.1 Short range

10.2 Medium range

10.3 Long range

 

11. Global Target Acquisition Systems Market, by End-use

11.1 Military

11.2 Homeland

11.3 Security

 

12. Regional Analysis

12.1 Introduction

12.2 North America

12.2.1 USA

12.2.2    Canada

12.2.3    Mexico

12.3        Europe

12.3.1    Germany

12.3.2    UK

12.3.3    France

12.3.4    Italy

12.3.5    Spain

12.3.6    The Netherlands

12.3.7    Rest of Europe

12.4        Asia-Pacific

12.4.1    Japan

12.4.2    South Korea

12.4.3    China

12.4.4    India

12.4.5    Australia

12.4.6    Rest of Asia-Pacific

12.5        The Middle East & Africa

12.5.1    Israel

12.5.2    UAE

12.5.3    South Africa

12.5.4    Rest

12.6        Latin America

12.6.1    Brazil

12.6.2    Argentina

12.6.3    Rest of Latin America

 

13. Company Profiles

13.1 Rheinmetall

13.1.1 Financial

13.1.2 Products/ Services Offered

13.1.3 SWOT Analysis

13.1.4 The SNS view

13.2 BAE Systems

13.3 Israel Aerospace Industries

13.4 Aselsan A.S.

13.5 Elbit Systems

13.6 Hensoldt

13.7 Leonardo

13.8 Raytheon Company

 

14. Competitive Landscape

14.1 Competitive Benchmark

14.2 Market Share analysis

14.3 Recent Developments

 

15. Conclusion

 

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of a good and accurate research report and selecting the best methodology to complete the research is the toughest part. Since the research reports, we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach a stage wherein we can provide our clients best and most accurate investment to output ratio.

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The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research as the name suggests is a research process wherein, we collect data through readily available information. In this process, we use various paid and unpaid databases to which our team has access and gather data through the same. This includes examining listed companies’ annual reports, Journals, SEC filling, etc. Apart from this, our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various universities as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content-specific facts that can be sued to solve specific problems. Since the collected data is fresh and first-hand therefore it makes the study more accurate and genuine.

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Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply sides of the industry to make sure we land an accurate judgment and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses, and observation of on-field participants. The below-mentioned chart should give a better understanding of part 1 of the primary interview.

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