Target Acquisition Systems Market Report 2024 | Size, Share, Growth, Trends, Analysis, Forecast, Outlook, Mergers and Acquisitions, Top Major Key Players, Competitive Landscape | 2033 Forecast

The target acquisition systems market size has grown strongly in recent years. It will grow from $13.82 billion in 2023 to $14.72 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to military modernization programs, rise in threats and conflicts, shift towards network-centric warfare, integration of ai and machine learning, upgradation of existing systems.

The target acquisition systems market size is expected to see strong growth in the next few years. It will grow to $18.5 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to expansion into naval and air defense, precision strike requirements, upgradation and retrofitting, focus on network-centric warfare, rise in military modernization. Major trends in the forecast period include 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.

Market Overview -
Target acquisition systems refer to the process of finding, identifying, and locating a target in enough detail to allow for the efficient use of both lethal and non-lethal methods. Target acquisition can simply be applied to the procedure a weapon system goes through to decide which object to lock on to, as opposed to target tracking on one side and surveillance on the other, as in the case of an anti-aircraft system.

Download Free Sample of Report -
https://www.thebusinessresearchcompany.com/sample.aspx?id=10578&type=smp

Defense Investments Surge Increasing Military Budgets Propel Growth In The Target Acquisition Systems Market
The increasing military budget in developing countries is significantly contributing to the growth of the target acquisition systems market going forward. The military budget refers to the sum of central government spending on all the branches of the military, including peacekeeping. The increase in military budgets will increase the growing requirement to protect national security against a variety of threats. Target acquisition systems are tracking mechanisms that are carried out by military weapons to identify prospective enemy targets in the air or on the ground, using satellite navigation data to precisely determine the target's coordinate position. Due to rising threats, the military budget has been growing to secure a more peaceful world, which has a positive effect on the target acquisition systems market. For instance, in April 2021, according to the Stockholm International Peace Research Institute (SIPRI), a Sweden-based non-profit organization that provides data on armament and arms control, global military spending increased by 3.7% in 2022 to a record $2240 billion. Therefore, increasing the military budget is driving the growth of the target acquisition systems market.

Competitive Landscape -
Major companies operating in the target acquisition systems market report are 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., Aselsan A.S., Wuhan JOHO Technology Co. Ltd., Raytheon Technologies Corporation, General Dynamics Corporation, FLIR Systems Inc., BAE Systems plc, Leidos Holdings Inc., Kratos Defense & Security Solutions Inc., Ultra Electronics Holdings plc, Rafael Advanced Defense Systems Ltd., Harris Corporation, Rostec State Corporation, Hanwha Corporation, RADA Electronic Industries Ltd., Saab AB, Cobham plc, Curtiss-Wright Corporation

An Innovative Electro-Optical Payload For Enhanced Target Acquisition Systems
Technological advancements are a key trend gaining popularity in the target acquisition systems market. Major companies operating in the target acquisition systems market are focusing on developing new technologies to sustain their position in the market. For instance, in June 2022, Elbit Systems Ltd., an Israel-based military technology company, launched COAPS-L, an innovative electro-optical (EO) payload for ISTAR (intelligence, surveillance, target acquisition, and reconnaissance). COAPS-L is a scaled-down version of the company's Commander Open Architecture Panoramic Sight (COAPS), which is used on main combat tanks and armored fighting vehicles (AFV) throughout the world. COPAS-L offers light platforms with AFV-level ISTAR capabilities, including surface vessels, UGVs, and light tactical vehicles, all of which are compact and weigh only 40 kg. The COPAS-L payload can function both separately as an ISTAR payload and in tandem with the platform's weapon station.

Browse Full Report @
https://www.thebusinessresearchcompany.com/report/target-acquisition-systems-global-market-report

Key Segments -
The target acquisition systems market covered in this report is segmented -

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

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

Contact us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Latest Trending Press Releases: https://www.thebusinessresearchcompany.com/press-release.aspx

Want To Know More About The Business Research Company?
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.

Global Market Model - World's Most Comprehensive Database
The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps

This release was published on openPR.