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Tactical Optics Market Worth $13.0 Billion by 2025 - Exclusive Report by MarketsandMarkets™

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MarketsandMarkets

22 May, 2020, 11:30 GMT

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CHICAGO, May 22, 2020 /PRNewswire/ -- According to the new market research report "Tactical Optics Market by Product (Weapon Scopes & Sights, Handheld Sighting Devices, Cameras & Displays), Platform, Application (ISR, Target Acquisition & Identification, Border & Coastal Patrol), End Use, Range, and Region - Global Forecast to 2025", published by MarketsandMarkets™, the Tactical Optics Market is projected to grow from USD 9.7 billion in 2020 to USD 13.0 billion by 2025, at a CAGR of 6.1% from 2020 to 2025. The market growth can be mainly attributed to the increasing procurement of armored vehicles, rotorcraft, machine guns, and aircraft by militaries globally and the ongoing modernization of naval platforms by various countries.

Request for PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=80246778

The airborne platform segment is projected to register the highest CAGR during the forecast period

By platform, the airborne segment is projected to register the highest CAGR from 2020 to 2025, due to the increasing use of Unmanned Aerial Vehicles (UAVs) for surveillance and assault and rising orders for fighter aircraft and attack helicopters by various countries, such as India, China, the US, and Saudi Arabia.

The manned platform end use segment is projected to lead the tactical optics market from 2020 to 2025.

By end use, the manned platform segment is projected to lead the tactical optics market during the forecast period. This segment is driven by the high demand for tactical optics, such as riflescopes, binoculars, spotting scopes, night vision goggles, and thermal weapon sights. Significant investments for infantry soldiers by countries such as the US, Saudi Arabia, India, China, and South Korea are driving the overall market.

Browse in-depth TOC on "Tactical Optics Market"
186 – Tables
77 – Figures
251  – Pages

Request more details on:
https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=80246778

North America is projected to be a high growth market for tactical optics during the forecast period.

The tactical optics market in North America is projected to grow at the highest CAGR during the forecast period. Multiple modernization programs by the US Army, Navy, and Air Force are contributing to the growth of the tactical optics market in this region.

The tactical optics industry includes major Tier 1 players, such as Kongsberg Gruppen AS (Norway), Raytheon Company (US), Elbit Systems Ltd. (Israel), Saab AB (Sweden), Leonardo S.p.A (Italy), and BAE Systems plc (UK). These companies offer advanced electro-optic cameras and thermal cameras, which make up the majority of the tactical optics market. The tactical optics industry also constitutes Tier 2 and Tier 3 players who offer tactical optics for dismounted soldiers, which cost comparatively lesser. These players include Sig Sauer, Inc. (US), Vortex Optics (US), Bushnell Corporation (US), and Leupold & Stevens, Inc. (US).

  • In January 2019, Sig Sauer, Inc. was awarded a contract worth USD 12 million by the US SOCOM for the supply of its Electro-Optics TANGO6T 1-6×24 Second Focal Plane (SFP) Riflescope and ALPHA4 Ultralight Mount, allowing the company to increase its share in the riflescopes market.
  • In September 2018, Leonardo S.p.A. received a contract worth USD 18 million from the Naval Surface Warfare Center for the supply of Improved Night Observation Device (INOD) Block III thermal weapon sight for marine snipers.
  • In March 2018, BAE Systems plc secured a contract worth USD 97 million from the US Army for the supply of new night vision goggles and thermal weapon sights.

Related Reports:

Remote Weapon Station Market by Application (Military, Homeland Security), Platform (Land, Airborne, Naval), Component (Sensors, HMI, Weapons & Armaments), Weapon Type (Lethal, Non-lethal), Mobility, Technology, and Region - Global Forecast to 2023

Riflescopes Market by Sight Type (Telescopic, Reflex), Technology (Electro-Optic/IR, Thermal Imaging, Laser), Application (Hunting, Armed Forces, Shooting Sports), Range (Short, Medium, Long), and Region - Global Forecast to 2025

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com

Visit Our Web Site: https://www.marketsandmarkets.com

Research Insight : https://www.marketsandmarkets.com/ResearchInsight/tactical-optics-market.asp

Content Source : https://www.marketsandmarkets.com/PressReleases/tactical-optics.asp

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