The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Target Acquisition Systems Global Market Report 2024, the target acquisition systems market is expected to show significant growth in the forecast period.

Market Overview

• Recent Growth: The target acquisition systems market has experienced robust growth recently, increasing from $13.82 billion in 2023 to $14.72 billion in 2024, with a CAGR of 6.5%.
  • Drivers:
    • Military modernization programs
    • Rise in threats and conflicts
    • Shift towards network-centric warfare
    • Integration of AI and machine learning
    • Upgradation of existing systems

Future Market Projections

• Expected Growth: The market is set to grow further, reaching $18.5 billion by 2028, with a CAGR of 5.9%.
  • Drivers:
    • Expansion into naval and air defense
    • Precision strike requirements
    • Upgradation and retrofitting
    • Focus on network-centric warfare
    • Continued military modernization
  • Trends:
    • Shift towards urban warfare solutions
    • Development of counter stealth technologies
    • Modular and upgradable systems
    • Deployment of infrared imaging systems
    • Adoption of long-range precision targeting

View More On The Target Acquisition Systems Market Report 2024 – https://www.thebusinessresearchcompany.com/report/target-acquisition-systems-global-market-report

Heightened Border Tensions Drive Surge in Demand

• Cross-Border Conflicts: Rising cross-border conflicts significantly boost the demand for target acquisition systems.
  • Impact: These systems are vital for military operations, offering precise identification, tracking, and engagement of targets, enhancing situational awareness, and facilitating decision-making.
  • Example: The UNHCR reported that over 110 million people were forcibly displaced globally by July 2023, with major conflicts in Afghanistan, Ukraine, and Syria.

Key Market Players

• Major Companies:
  • Elbit Systems Ltd.
  • Leonardo S.p.A.
  • Safran SA
  • Thales Group
  • Rheinmetall AG
  • Instro Precision Limited
  • Israel Aerospace Industries
  • Hensoldt AG
  • Kearfott Corporation
  • Blighter Surveillance Systems
  • Thermoteknix Systems Ltd.
  • Lockheed Martin Corporation
  • L3Harris Technologies Inc.
  • FLIR Systems Inc.
  • BAE Systems PLC

Innovative Technologies in Target Acquisition Systems

• Technological Advancements: Companies are focusing on developing new technologies to maintain market leadership.
  • Example: Elbit Systems Ltd. launched COAPS-L, a new electro-optical payload for ISTAR applications, offering advanced capabilities for light platforms.

Strategic Acquisitions

• Leonardo S.p.A.: Acquired 25.1% of HENSOLDT AG for $685.38 million in January 2022.
  • Impact: This acquisition strengthens Leonardo’s position in the European defense electronics market and supports strategic consolidation in the sector.

Market Segmentation

• By Platform: Land, Airborne, Naval
• By Sub System: Cameras, Scopes and Sights, Detecting and Locating Systems, Modules, Add-On Systems, Other Sub Systems
• By Range Type: Short Range (0-8 Km), Medium Range (8-250 Km), Long Range (Above 250 Km)
• By End Use: Military, Homeland Security

Regional Insights

• North America: The largest market in 2023.
• Asia-Pacific: Expected to be the fastest-growing region during the forecast period.

The target acquisition systems market is set to continue its robust growth, driven by technological advancements, strategic acquisitions, and the increasing need for precision and enhanced situational awareness in military operations.

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The Target Acquisition Systems Global Market Report 2024  provides an in-depth analysis on the target acquisition systems market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the target acquisition systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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