Global Electro Optical Systems Market Size, Share, Trends, Industry Growth by Type (Laser, Infrared, Image Intensifier), by Platform (Airborne, Ground, Naval), by System, by Application, and Forecast to 2027

Report ID: RC146799 | Report Format: PDF + Excel | Starting Price: 3800/- USD | Last Updated: June 23rd, 2023

The global electro optical systems market size is accounted to register a significant CAGR of over 4% during the forecast period and is expected to reach around USD 15 billion by 2027. The increasing demand for the product in the military and defense sectors is a major factor to drive the market growth. Furthermore, the rising adoption of these systems in homeland security, and fire control systems, and the growing demand for surveillance and reconnaissance are further anticipated to boost the market over the forecast period. Moreover, the rising development of these systems in unmanned vehicles is expected to fuel the market growth.

Market Drivers:

Increasing Demand in Defense and Security Applications: Electro-optical systems are extensively used in defense and security applications, including surveillance, reconnaissance, target acquisition, and tracking. The growing need for advanced situational awareness, intelligence gathering, and border security drives the demand for electro-optical systems in the defense and security sectors.

Technological Advancements in Optics and Photonics: Advances in optics, photonics, and imaging technologies play a crucial role in the development of electro-optical systems. Innovations such as high-resolution sensors, thermal imaging, hyperspectral imaging, and multi-sensor fusion enhance the performance and capabilities of electro-optical systems, expanding their applications in various industries.

Growing Adoption in Industrial and Manufacturing Processes: Electro-optical systems find applications in industrial and manufacturing processes, including quality control, inspection, metrology, and material analysis. These systems enable non-destructive testing, precise measurements, defect detection, and process monitoring, enhancing efficiency, productivity, and product quality in manufacturing operations.

Expansion of the Aerospace and Aviation Industry: The aerospace and aviation industry utilizes electro-optical systems for aircraft navigation, surveillance, target tracking, and pilot assistance. The increasing air traffic, focus on safety and security, and the demand for enhanced aircraft performance drive the adoption of electro-optical systems in this industry.

Advancements in Autonomous Vehicles and Robotics: Electro-optical systems play a crucial role in the development of autonomous vehicles, drones, and robotic systems. These systems provide sensing capabilities, object detection, and obstacle avoidance, enabling safe and efficient autonomous operations. The growth of autonomous technologies fuels the demand for electro-optical systems.

Demand for Medical Imaging and Diagnostic Systems: Electro-optical systems are used in medical imaging and diagnostic equipment, including endoscopy, ophthalmology, microscopy, and spectroscopy. These systems enable high-resolution imaging, precise measurements, and non-invasive diagnostics, supporting medical professionals in accurate disease diagnosis and treatment.

Increasing Use in Communication and Data Transmission: Electro-optical systems are integral to communication networks and data transmission systems, including fiber optics, optical interconnects, and photonic devices. The demand for high-speed, reliable, and secure data transmission drives the adoption of electro-optical systems in telecommunications, data centers, and information technology infrastructure.

Growth of the Entertainment and Gaming Industry: Electro-optical systems find applications in the entertainment and gaming industry, including virtual reality (VR), augmented reality (AR), and immersive gaming experiences. These systems enable high-resolution displays, motion tracking, and depth sensing, enhancing the visual and interactive capabilities of entertainment and gaming platforms.

Rising Demand for Remote Sensing and Earth Observation: Electro-optical systems are used in remote sensing and earth observation applications, including satellite imaging, environmental monitoring, and geospatial analysis. The need for accurate and timely data on weather patterns, natural resources, and environmental changes drives the adoption of electro-optical systems in these domains.

Increasing Investment in Research and Development: Investments in research and development initiatives in optics, photonics, and electro-optical systems contribute to technological advancements and the expansion of the electro-optical systems market. Government agencies, academic institutions, and industry players invest in R&D to develop new capabilities, improve system performance, and explore emerging applications.

Market Snapshot:

Benchmark Year 2022
Market Size ~ USD 15 Billion by 2027
Market Growth (CAGR) > 4% (2023-2030)
Largest Market Share North America
Analysis Period 2020-2030
Market Players BAE Systems plc, Elbit Systems Ltd., L3Harris Technologies, Inc., Leonardo DRS, and Lockheed Martin Corporation

Market Insights:

The global electro optical systems market is bifurcated into type, platform, system, application, and geography. On the basis of platform, the market is further segmented into airborne, ground, and naval. The airborne segment dominated the global market in 2020 and expected to hold the largest revenue share of around two-forth percent of the market. The segment growth is attributed to the increasing demand for the systems in defense for better security and surveillance systems. Furthermore, the increasing adoption of these systems in UAV applications is further anticipated to fuel the segment growth over the forecast period. On the other hand, the ground segment is accounted to grow at the highest CAGR over the forecast period.

Electro Optical Systems Market Size

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The electro optical systems comprehensive study offers an in-depth analysis of industry trends, market size, competitive analysis, and market forecast – 2021 to 2027. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market and expert opinion obtained from interviews with industry executives and experts from prominent companies.

The electro optical systems market research report presents the analysis of each segment from 2018 to 2027 considering 2020 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2027.

Historical & Forecast Period

  • 2018-19 – Historical Year
  • 2020 – Base Year
  • 2021-2027 – Forecast Period

Market Segmentation:

By Type:

By Paltform:

  • Airborne
  • Ground
  • Naval

By System:

  • Imaging
  • Non-Imaging

By Application:

  • Military
  • Commercial

By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Geographic Coverage

Geographically, North America dominated the global electro-optical systems market in 2020 and accounted to hold the largest revenue share of over one-third percent of the market. The increasing investment in the defense sector by the government is a major factor to drive the market growth in the region. Furthermore, technological advancement, increasing research & development activities, and the presence of major players are further anticipated to fuel the market in North America. In 2021, the US President’s budget proposal calls for a total of $753 billion for national defense, a 2% increase from the previous year.

Competitive Assessment

Some of the major market players operating in the global electro-optical systems market are BAE Systems plc, Elbit Systems Ltd., L3Harris Technologies, Inc., Leonardo DRS, and Lockheed Martin Corporation. Companies are exploring markets through expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Key Companies:

  • BAE Systems plc
  • Elbit Systems Ltd.
  • L3Harris Technologies, Inc.
  • Leonardo DRS
  • Lockheed Martin Corporation
  • Raytheon Company
  • Rheinmetall AG
  • Safran S.A.
  • Textron Systems Corporation
  • Thales S.A.

Key Questions Answered by Electro Optical Systems Market Report

  • Global electro optical systems market forecasts from 2021-2027
  • Regional electro optical systems market forecasts from 2021-2027 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
  • Country-level forecasts from 2021-2027 covering 15 major countries from the aforementioned regions
  • Electro optical systems submarket forecasts from 2021-2027 covering the market by type, by platform, by system, by application, and geography
  • Various industry models such as SWOT analysis, Value Chain Analysis pertaining to electro-optical systems market
  • Analysis of the key factors driving and restraining the growth of the global, regional, and country-level electro optical systems markets from 2021-2027
  • Competitive Landscape and market positioning of top 10 players operating in the electro optical systems market
Table of Content:

1. Preface


1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.4. Assumptions

 

2. Executive Summary


2.1. Global Electro Optical Systems Market Portraiture
2.2. Global Electro Optical Systems Market, by Type, 2020 (USD Mn)
2.3. Global Electro Optical Systems Market, by Platform, 2020 (USD Mn)
2.4. Global Electro Optical Systems Market, by System, 2020 (USD Mn)
2.5. Global Electro Optical Systems Market, by Application, 2020 (USD Mn)
2.6. Global Electro Optical Systems Market, by Geography, 2020 (USD Mn)

 

3. Global Electro Optical Systems Market Analysis


3.1. Electro Optical Systems Market Overview
3.2. Market Inclination Insights
3.3. Market Dynamics
3.3.1. Drivers
3.3.2. Challenges
3.3.3. Opportunities
3.4. Attractive Investment Proposition
3.5. Competitive Analysis
3.6. Porter’s Five Force Analysis
3.6.1. Bargaining Power of Suppliers
3.6.2. Bargaining Power of Buyers
3.6.3. Threat of New Entrants
3.6.4. Threat of Substitutes
3.6.5. Degree of Competition
3.7. COVID-19 Impact Analysis

 

4. Global Electro Optical Systems Market By Type, 2018 – 2027 (USD Mn)


4.1. Overview
4.2. Laser
4.3. Infrared
4.4. Image Intensifier

 

5. Global Electro Optical Systems Market By Platform, 2018 – 2027 (USD Mn)


5.1. Overview
5.2. Airborne
5.3. Ground
5.4. Naval

 

6. Global Electro Optical Systems Market By System, 2018 – 2027 (USD Mn)


6.1. Overview
6.2. Imaging
6.3. Non-Imaging

 

7. Global Electro Optical Systems Market By Application, 2018 – 2027 (USD Mn)


7.1. Overview
7.2. Military
7.3. Commercial

 

8. North America Electro Optical Systems Market Analysis and Forecast, 2018 – 2027 (USD Mn)


8.1.1. Overview
8.1.2. North America Electro Optical Systems Market by Type (2018-2027 USD Mn)
8.1.3. North America Electro Optical Systems Market by Platform (2018-2027 USD Mn)
8.1.4. North America Electro Optical Systems Market by System (2018-2027 USD Mn)
8.1.5. North America Electro Optical Systems Market by Application (2018-2027 USD Mn)
8.1.6. North America Electro Optical Systems Market by Country (2018-2027 USD Mn)
8.1.6.1. U.S.
8.1.6.1.1. U.S. Electro Optical Systems Market by Type (2018-2027 USD Mn)
8.1.6.1.2. U.S. Electro Optical Systems Market by Platform (2018-2027 USD Mn)
8.1.6.1.3. U.S. Electro Optical Systems Market by System (2018-2027 USD Mn)
8.1.6.1.4. U.S. Electro Optical Systems Market by Application (2018-2027 USD Mn)
8.1.6.2. Canada
8.1.6.2.1. Canada Electro Optical Systems Market by Type (2018-2027 USD Mn)
8.1.6.2.2. Canada Electro Optical Systems Market by Platform (2018-2027 USD Mn)
8.1.6.2.3. Canada Electro Optical Systems Market by System (2018-2027 USD Mn)
8.1.6.2.4. Canada Electro Optical Systems Market by Application (2018-2027 USD Mn)

 

9. Europe Electro Optical Systems Market Analysis and Forecast, 2018 – 2027 (USD Mn)


9.1.1. Overview
9.1.2. Europe Electro Optical Systems Market by Type (2018-2027 USD Mn)
9.1.3. Europe Electro Optical Systems Market by Platform (2018-2027 USD Mn)
9.1.4. Europe Electro Optical Systems Market by System (2018-2027 USD Mn)
9.1.5. Europe Electro Optical Systems Market by Application (2018-2027 USD Mn)
9.1.6. Europe Electro Optical Systems Market by Country (2018-2027 USD Mn)
9.1.6.1. Germany
9.1.6.1.1. Germany Electro Optical Systems Market by Type (2018-2027 USD Mn)
9.1.6.1.2. Germany Electro Optical Systems Market by Platform (2018-2027 USD Mn)
9.1.6.1.3. Germany Electro Optical Systems Market by System (2018-2027 USD Mn)
9.1.6.1.4. Germany Electro Optical Systems Market by Application (2018-2027 USD Mn)
9.1.6.2. U.K.
9.1.6.2.1. U.K. Electro Optical Systems Market by Type (2018-2027 USD Mn)
9.1.6.2.2. U.K. Electro Optical Systems Market by Platform (2018-2027 USD Mn)
9.1.6.2.3. U.K. Electro Optical Systems Market by System (2018-2027 USD Mn)
9.1.6.2.4. U.K. Electro Optical Systems Market by Application (2018-2027 USD Mn)
9.1.6.3. France
9.1.6.3.1. France Electro Optical Systems Market by Type (2018-2027 USD Mn)
9.1.6.3.2. France Electro Optical Systems Market by Platform (2018-2027 USD Mn)
9.1.6.3.3. France Electro Optical Systems Market by System (2018-2027 USD Mn)
9.1.6.3.4. France Electro Optical Systems Market by Application (2018-2027 USD Mn)
9.1.6.4. Italy
9.1.6.4.1. Italy Electro Optical Systems Market by Type (2018-2027 USD Mn)
9.1.6.4.2. Italy Electro Optical Systems Market by Platform (2018-2027 USD Mn)
9.1.6.4.3. Italy Electro Optical Systems Market by System (2018-2027 USD Mn)
9.1.6.4.4. Italy Electro Optical Systems Market by Application (2018-2027 USD Mn)
9.1.6.5. Rest of Europe
9.1.6.5.1. Rest of Europe Electro Optical Systems Market by Type (2018-2027 USD Mn)
9.1.6.5.2. Rest of Europe Electro Optical Systems Market by Platform (2018-2027 USD Mn)
9.1.6.5.3. Rest of Europe Electro Optical Systems Market by System (2018-2027 USD Mn)
9.1.6.5.4. Rest of Europe Electro Optical Systems Market by Application (2018-2027 USD Mn)

 

10. Asia Pacific Electro Optical Systems Market Analysis and Forecast, 2018 – 2027 (USD Mn)


10.1.1. Overview
10.1.2. Asia Pacific Electro Optical Systems Market by Type (2018-2027 USD Mn)
10.1.3. Asia Pacific Electro Optical Systems Market by Platform (2018-2027 USD Mn)
10.1.4. Asia Pacific Electro Optical Systems Market by System (2018-2027 USD Mn)
10.1.5. Asia Pacific Electro Optical Systems Market by Application (2018-2027 USD Mn)
10.1.6. Asia Pacific Electro Optical Systems Market by Country (2018-2027 USD Mn)
10.1.6.1. China
10.1.6.1.1. China Electro Optical Systems Market by Type (2018-2027 USD Mn)
10.1.6.1.2. China Electro Optical Systems Market by Platform (2018-2027 USD Mn)
10.1.6.1.3. China Electro Optical Systems Market by System (2018-2027 USD Mn)
10.1.6.1.4. China Electro Optical Systems Market by Application (2018-2027 USD Mn)
10.1.6.2. Japan
10.1.6.2.1. Japan Electro Optical Systems Market by Type (2018-2027 USD Mn)
10.1.6.2.2. Japan Electro Optical Systems Market by Platform (2018-2027 USD Mn)
10.1.6.2.3. Japan Electro Optical Systems Market by System (2018-2027 USD Mn)
10.1.6.2.4. Japan Electro Optical Systems Market by Application (2018-2027 USD Mn)
10.1.6.3. Rest of Asia Pacific
10.1.6.3.1. Rest of Asia Pacific Electro Optical Systems Market by Type (2018-2027 USD Mn)
10.1.6.3.2. Rest of Asia Pacific Electro Optical Systems Market by Platform (2018-2027 USD Mn)
10.1.6.3.3. Rest of Asia Pacific Electro Optical Systems Market by System (2018-2027 USD Mn)
10.1.6.3.4. Rest of Asia Pacific Electro Optical Systems Market by Application (2018-2027 USD Mn)

 

11. Latin America (LATAM) Electro Optical Systems Market Analysis and Forecast, 2018 – 2027 (USD Mn)


11.1.1. Overview
11.1.2. Latin America Electro Optical Systems Market by Type (2018-2027 USD Mn)
11.1.3. Latin America Electro Optical Systems Market by Platform (2018-2027 USD Mn)
11.1.4. Latin America Electro Optical Systems Market by System (2018-2027 USD Mn)
11.1.5. Latin America Electro Optical Systems Market by Application (2018-2027 USD Mn)
11.1.6. Latin America Electro Optical Systems Market by Country (2018-2027 USD Mn)
11.1.6.1. Brazil
11.1.6.1.1. Brazil Electro Optical Systems Market by Type (2018-2027 USD Mn)
11.1.6.1.2. Brazil Electro Optical Systems Market by Platform (2018-2027 USD Mn)
11.1.6.1.3. Brazil Electro Optical Systems Market by System (2018-2027 USD Mn)
11.1.6.1.4. Brazil Electro Optical Systems Market by Application (2018-2027 USD Mn)
11.1.6.2. Mexico
11.1.6.2.1. Mexico Electro Optical Systems Market by Type (2018-2027 USD Mn)
11.1.6.2.2. Mexico Electro Optical Systems Market by Platform (2018-2027 USD Mn)
11.1.6.2.3. Mexico Electro Optical Systems Market by System (2018-2027 USD Mn)
11.1.6.2.4. Mexico Electro Optical Systems Market by Application (2018-2027 USD Mn)
11.1.6.3. Rest of Latin America
11.1.6.3.1. Rest of Latin America Electro Optical Systems Market by Type (2018-2027 USD Mn)
11.1.6.3.2. Rest of Latin America Electro Optical Systems Market by Platform (2018-2027 USD Mn)
11.1.6.3.3. Rest of Latin America Electro Optical Systems Market by System (2018-2027 USD Mn)
11.1.6.3.4. Rest of Latin America Electro Optical Systems Market by Application (2018-2027 USD Mn)

 

12. Middle East and Africa Electro Optical Systems Market Analysis and Forecast, 2018 – 2027 (USD Mn)


12.1.1. Overview
12.1.2. MEA Electro Optical Systems Market by Type (2018-2027 USD Mn)
12.1.3. MEA Electro Optical Systems Market by Platform (2018-2027 USD Mn)
12.1.4. MEA Electro Optical Systems Market by System (2018-2027 USD Mn)
12.1.5. MEA Electro Optical Systems Market by Application (2018-2027 USD Mn)
12.1.6. Middle East and Africa Electro Optical Systems Market, by Country (2018-2027 USD Mn)
12.1.6.1. GCC
12.1.6.1.1. GCC Electro Optical Systems Market by Type (2018-2027 USD Mn)
12.1.6.1.2. GCC Electro Optical Systems Market by Platform (2018-2027 USD Mn)
12.1.6.1.3. GCC Electro Optical Systems Market by System (2018-2027 USD Mn)
12.1.6.1.4. GCC Electro Optical Systems Market by Application (2018-2027 USD Mn)
12.1.6.2. South Africa
12.1.6.2.1. South Africa Electro Optical Systems Market by Type (2018-2027 USD Mn)
12.1.6.2.2. South Africa Electro Optical Systems Market by Platform (2018-2027 USD Mn)
12.1.6.2.3. South Africa Electro Optical Systems Market by System (2018-2027 USD Mn)
12.1.6.2.4. South Africa Electro Optical Systems Market by Application (2018-2027 USD Mn)
12.1.6.3. Rest of MEA
12.1.6.3.1. Rest of MEA Electro Optical Systems Market by Type (2018-2027 USD Mn)
12.1.6.3.2. Rest of MEA Electro Optical Systems Market by Platform (2018-2027 USD Mn)
12.1.6.3.3. Rest of MEA Electro Optical Systems Market by System (2018-2027 USD Mn)
12.1.6.3.4. Rest of MEA Electro Optical Systems Market by Application (2018-2027 USD Mn)

 

13. Company Profiles


13.1. BAE Systems plc
13.1.1. Business Description
13.1.2. Financial Health and Budget Allocation
13.1.3. Product Positions/Portfolio
13.1.4. Recent Development
13.1.5. SWOT Analysis
13.2. Elbit Systems Ltd.
13.2.1. Business Description
13.2.2. Financial Health and Budget Allocation
13.2.3. Product Positions/Portfolio
13.2.4. Recent Development
13.2.5. SWOT Analysis
13.3. L3Harris Technologies, Inc.
13.3.1. Business Description
13.3.2. Financial Health and Budget Allocation
13.3.3. Product Positions/Portfolio
13.3.4. Recent Development
13.3.5. SWOT Analysis
13.4. Leonardo DRS
13.4.1. Business Description
13.4.2. Financial Health and Budget Allocation
13.4.3. Product Positions/Portfolio
13.4.4. Recent Development
13.4.5. SWOT Analysis
13.5. Lockheed Martin Corporation
13.5.1. Business Description
13.5.2. Financial Health and Budget Allocation
13.5.3. Product Positions/Portfolio
13.5.4. Recent Development
13.5.5. SWOT Analysis
13.6. Raytheon Company
13.6.1. Business Description
13.6.2. Financial Health and Budget Allocation
13.6.3. Product Positions/Portfolio
13.6.4. Recent Development
13.6.5. SWOT Analysis
13.7. Rheinmetall AG
13.7.1. Business Description
13.7.2. Financial Health and Budget Allocation
13.7.3. Product Positions/Portfolio
13.7.4. Recent Development
13.7.5. SWOT Analysis
13.8. Safran S.A.
13.8.1. Business Description
13.8.2. Financial Health and Budget Allocation
13.8.3. Product Positions/Portfolio
13.8.4. Recent Development
13.8.5. SWOT Analysis
13.9. Textron Systems Corporation
13.9.1. Business Description
13.9.2. Financial Health and Budget Allocation
13.9.3. Product Positions/Portfolio
13.9.4. Recent Development
13.9.5. SWOT Analysis
13.10. Thales S.A.
13.10.1. Business Description
13.10.2. Financial Health and Budget Allocation
13.10.3. Product Positions/Portfolio
13.10.4. Recent Development
13.10.5. SWOT Analysis
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