The global electro optical system market is anticipated to be worth USD 12,064.2 million in 2023, expected to reach USD 18,794.6 million by 2033. From 2023 to 2033, the market is projected to exhibit a CAGR of 4.5%. However, the CAGR was valued at 2.4% from 2018 to 2022. Increasing demand for safety and security and the growing need for a developed defense system is expected to benefit the market during the forecast period.
| Data Points | Key Statistics |
|---|---|
| Base Year Value (2022) | USD 11,724.2 million |
| Projected Market Value (2023) | USD 12,064.2 million |
| Anticipated Forecast Value (2033) | USD 18,794.6 million |
| Estimated Growth Rate (2023 to 2033) | 4.5% |
The defense segment is expected to acquire substantial traction. The increased need for technologically superior security and surveillance systems as a result of escalating insurgency incidents can be contributed to the segment's expansion. Another aspect driving the segment's expansion is rising military spending throughout the world.
In July 2022, officials from the United States Defence Logistics Agency Land and Maritime segment in Aberdeen, Md, announced a contract for MX-11769 image-intensifier tubes with the L3Harris Integrated Vision Solutions segment in Tempe, Ariz., and the Elbit Systems of America Night Vision segment in Roanoke, Va. The electro-optical image-intensifier tube has a continuous life of 12,000 hours.
The image intensifier is a third-generation 18-millimeter for the AN/PVS-14 night-vision monocular and many weapon sights. It is also a component of the United States Army Enhance Night Vision Goggle-Binocular (ENVG-B). Such market advancements are expected to increase market size throughout the forecast period.
The global demand for electro optical systems recorded a CAGR of 2.4% during the historical period, reaching around USD 10,642.3 million in 2018, according to a report from Future Market Insights (FMI). The growing concern for safety and security, as well as the requirement for sophisticated military systems and equipment, are the key drivers driving the global expansion of the electro optical system market.
With an increase in different forms of assaults, images in decision-making processes are becoming increasingly important, encouraging the usage of electro-optics technologies to counter the expanding security risks better and speed up the decision-making process. As a result, the armed services must develop a modern electro optical system capable of dealing with security concerns.
Furthermore, electro optical systems are utilized for non-destructive testing in the aerospace industry, and border protection organizations use these systems to monitor an incursion attempt. As terrorist activities increase across various locations, there is an enormous requirement for enhanced surveillance systems and the necessity to avoid terrorist organization penetration efforts, driving the market ahead.
Increased Purchase of Sophisticated UAVS with Integrated Electro-Optical Systems
Increasing procurement of advanced unmanned aerial vehicles (UAVs) with integrated electro-optical systems is expected to play a significant role in driving the market during the forecast period. The application of unmanned vehicles is expanding for various commercial and military purposes such as navigation, surveillance, policing, photography, and agricultural monitoring.
Also, ongoing developments in electro-optic systems are projected to offer remunerative opportunities to the market. For instance, they have enabled 24-hour situational awareness, guidance for defense gunnery, automated object detection, and 360-degree rotation, among others. Such factors are expected to benefit the industry growth during the forecast period.
Additionally, acquisitions among players are expected to strengthen the industry's growth in the assessment period. For instance, in March 2019, FLIR Systems Inc. announced that it had completed its previously announced acquisition of Endeavor Robotic Holdings, Inc., a pioneer of battle-tested, tactical unmanned ground vehicles (UGVs) for the global military, public safety, and infrastructure markets, from Arlington Capital Partners. Thus, the market is projected to grow notably in the assessment period.
Short Lifespan is likely to hinder the Market Growth
The electro-optical system has a lifespan of 15-20 years, depending on how it is used in real time. Military equipment is only updated once the system's life cycle has ended. During the projected period, this is likely to be a substantial restraint on the market.
However, several advantages provided by the equipment, such as poor visibility, low light cameras, and others, are expected to drive market expansion in the approaching years.
Rising Use of Technologically Superior UAVs Creating Opportunities for Electro Optical System Manufacturers
North America is likely to lead the market over the projection period, according to the report. In 2022, the region recorded a market share of 29.3% of the worldwide market.
The rising use of technologically superior UAVs can be ascribed to the market's dominance. Furthermore, the deployment of advanced UAVs for surveillance is expected to benefit the regional market throughout the projection period. Furthermore, the United States Army is expected to be the largest equipment buyer in the region.
For example, the United States Army granted L3 Technologies a contract in July 2020 to provide an upgraded next-generation WESCAM MX 10D electro-optical, laser designator, and infrared system to enhance Tactical Unmanned Air System Shadow UAV (RQ-7Bv2). As a result, the regional market is expected to grow considerably throughout the forecast period.
European Government's Expanding Measures Favouring Market Growth
During the projection period, Europe is expected to be the second-leading market. The region accounted for around 23.1% of overall revenue in 2022. The European government's expanding measures are expected to drive regional market development.
In July 2019, NASA, for example, sent electro-optical test devices for future European Euclid dark energy space research. The Euclid space mission of the European Space Agency (ESA) is scheduled to launch in 2022. These measures are expected to boost the regional market in the near future.
Expansion of the Armed Forces Fuelling Rapid Adoption
According to the report, Asia Pacific may be the fastest-growing regional market throughout the projection period. The rapid rise of the armed forces industry may be linked to the region's growth. Increasing the engagement of regional companies is also expected to be a driving force in the regional market.
For example, Elbit Systems Ltd. stated in May 2022 that it had been given a contract for USD 69 million to offer Electronic Warfare (EQ) capabilities to a government in the Asia Pacific. As a result of such factors, the regional market is expected to expand considerably throughout the assessment period.
Air Electro Optical System to Have a Massive Demand
The market is further divided into air electro optical systems, land electro optical systems, and sea electro optical systems. In 2022, the air electro optical system may dominate the worldwide market, with a revenue share of roughly two-fourths of the market. The rising need for defense systems for enhanced security and surveillance systems is driving segment expansion.
Furthermore, the growing use of these systems in UAV applications is expected to boost sector expansion throughout the projection period. On the other hand, the land electro optical system is expected to develop at the fastest CAGR over the projection period.
Some market's developing players are EXSEED SPACE, Skyroot Aerospace, Pixxel, EARTH2ORBIT (E2O), Boom Supersonic, Blue Origin, Lilium, Dhruva Space, LeoLabs, Relativity Space, and DJI.
Intro, Lockheed Martin, L3 Communication Holdings, BAE Systems Plc, Northrop Grumman, and DRS Technologies are key participants in the worldwide electro-optic system market. The following are recent developments in the global electro optical system market:
| Report Attribute | Details |
|---|---|
| Market Value in 2023 | USD 12,064.2 million |
| Market Value in 2033 | USD 18,794.6 million |
| Growth Rate | CAGR of 4.5% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Systems, Application Platform, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; The Middle East and Africa |
| Key Countries Profiled | United States, Canada, Mexico, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, China, Japan, South Korea, India, Malaysia, Singapore, Australia, New Zealand, GCC, South Africa, Israel |
| Key Companies Profiled | Intro; Lockheed Martin; Raytheon Company; Textron Systems Corporation; L3 Communication Holdings; BAE Systems Plc.; Northrop Grumman; DRS Technologies; Thales S.A; Safran S.A; Rheinmetall AG |
| Customization | Available Upon Request |
Table 01: Global Market Value (US$ Million) Forecast by Region, 2018 to 2033
Table 02: Global Market Volume (Units) Forecast by Region, 2018 to 2033
Table 03: Global Market Value (US$ Million) Forecast by System, 2018 to 2033
Table 04: Global Market Volume (Units) Forecast by System, 2018 to 2033
Table 05: Global Market Value (US$ Million) Forecast by Application Platform, 2018 to 2033
Table 06: Global Market Volume (Units) Forecast by Application Platform, 2018 to 2033
Table 07: North America Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 08: North America Market Volume (Units) Forecast by Country, 2018 to 2033
Table 09: North America Market Value (US$ Million) Forecast by System, 2018 to 2033
Table 10: North America Market Volume (Units) Forecast by System, 2018 to 2033
Table 11: North America Market Value (US$ Million) Forecast by Application Platform, 2018 to 2033
Table 12: North America Market Volume (Units) Forecast by Application Platform, 2018 to 2033
Table 13: Latin America Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 14: Latin America Market Volume (Units) Forecast by Country, 2018 to 2033
Table 15: Latin America Market Value (US$ Million) Forecast by System, 2018 to 2033
Table 16: Latin America Market Volume (Units) Forecast by System, 2018 to 2033
Table 17: Latin America Market Value (US$ Million) Forecast by Application Platform, 2018 to 2033
Table 18: Latin America Market Volume (Units) Forecast by Application Platform, 2018 to 2033
Table 19: Western Europe Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 20: Western Europe Market Volume (Units) Forecast by Country, 2018 to 2033
Table 21: Western Europe Market Value (US$ Million) Forecast by System, 2018 to 2033
Table 22: Western Europe Market Volume (Units) Forecast by System, 2018 to 2033
Table 23: Western Europe Market Value (US$ Million) Forecast by Application Platform, 2018 to 2033
Table 24: Western Europe Market Volume (Units) Forecast by Application Platform, 2018 to 2033
Table 25: Eastern Europe Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 26: Eastern Europe Market Volume (Units) Forecast by Country, 2018 to 2033
Table 27: Eastern Europe Market Value (US$ Million) Forecast by System, 2018 to 2033
Table 28: Eastern Europe Market Volume (Units) Forecast by System, 2018 to 2033
Table 29: Eastern Europe Market Value (US$ Million) Forecast by Application Platform, 2018 to 2033
Table 30: Eastern Europe Market Volume (Units) Forecast by Application Platform, 2018 to 2033
Table 31: South Asia and Pacific Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 32: South Asia and Pacific Market Volume (Units) Forecast by Country, 2018 to 2033
Table 33: South Asia and Pacific Market Value (US$ Million) Forecast by System, 2018 to 2033
Table 34: South Asia and Pacific Market Volume (Units) Forecast by System, 2018 to 2033
Table 35: South Asia and Pacific Market Value (US$ Million) Forecast by Application Platform, 2018 to 2033
Table 36: South Asia and Pacific Market Volume (Units) Forecast by Application Platform, 2018 to 2033
Table 37: East Asia Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 38: East Asia Market Volume (Units) Forecast by Country, 2018 to 2033
Table 39: East Asia Market Value (US$ Million) Forecast by System, 2018 to 2033
Table 40: East Asia Market Volume (Units) Forecast by System, 2018 to 2033
Table 41: East Asia Market Value (US$ Million) Forecast by Application Platform, 2018 to 2033
Table 42: East Asia Market Volume (Units) Forecast by Application Platform, 2018 to 2033
Table 43: Middle East and Africa Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 44: Middle East and Africa Market Volume (Units) Forecast by Country, 2018 to 2033
Table 45: Middle East and Africa Market Value (US$ Million) Forecast by System, 2018 to 2033
Table 46: Middle East and Africa Market Volume (Units) Forecast by System, 2018 to 2033
Table 47: Middle East and Africa Market Value (US$ Million) Forecast by Application Platform, 2018 to 2033
Table 48: Middle East and Africa Market Volume (Units) Forecast by Application Platform, 2018 to 2033
Figure 01: Global Market Value (US$ Million) by System, 2023 to 2033
Figure 02: Global Market Value (US$ Million) by Application Platform, 2023 to 2033
Figure 03: Global Market Value (US$ Million) by Region, 2023 to 2033
Figure 04: Global Market Value (US$ Million) Analysis by Region, 2018 to 2033
Figure 05: Global Market Volume (Units) Analysis by Region, 2018 to 2033
Figure 06: Global Market Value Share (%) and BPS Analysis by Region, 2023 to 2033
Figure 07: Global Market Y-o-Y Growth (%) Projections by Region, 2023 to 2033
Figure 08: Global Market Value (US$ Million) Analysis by System, 2018 to 2033
Figure 09: Global Market Volume (Units) Analysis by System, 2018 to 2033
Figure 10: Global Market Value Share (%) and BPS Analysis by System, 2023 to 2033
Figure 11: Global Market Y-o-Y Growth (%) Projections by System, 2023 to 2033
Figure 12: Global Market Value (US$ Million) Analysis by Application Platform, 2018 to 2033
Figure 13: Global Market Volume (Units) Analysis by Application Platform, 2018 to 2033
Figure 14: Global Market Value Share (%) and BPS Analysis by Application Platform, 2023 to 2033
Figure 15: Global Market Y-o-Y Growth (%) Projections by Application Platform, 2023 to 2033
Figure 16: Global Market Attractiveness by System, 2023 to 2033
Figure 17: Global Market Attractiveness by Application Platform, 2023 to 2033
Figure 18: Global Market Attractiveness by Region, 2023 to 2033
Figure 19: North America Market Value (US$ Million) by System, 2023 to 2033
Figure 20: North America Market Value (US$ Million) by Application Platform, 2023 to 2033
Figure 21: North America Market Value (US$ Million) by Country, 2023 to 2033
Figure 22: North America Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 23: North America Market Volume (Units) Analysis by Country, 2018 to 2033
Figure 24: North America Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 25: North America Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 26: North America Market Value (US$ Million) Analysis by System, 2018 to 2033
Figure 27: North America Market Volume (Units) Analysis by System, 2018 to 2033
Figure 28: North America Market Value Share (%) and BPS Analysis by System, 2023 to 2033
Figure 29: North America Market Y-o-Y Growth (%) Projections by System, 2023 to 2033
Figure 30: North America Market Value (US$ Million) Analysis by Application Platform, 2018 to 2033
Figure 31: North America Market Volume (Units) Analysis by Application Platform, 2018 to 2033
Figure 32: North America Market Value Share (%) and BPS Analysis by Application Platform, 2023 to 2033
Figure 33: North America Market Y-o-Y Growth (%) Projections by Application Platform, 2023 to 2033
Figure 34: North America Market Attractiveness by System, 2023 to 2033
Figure 35: North America Market Attractiveness by Application Platform, 2023 to 2033
Figure 36: North America Market Attractiveness by Country, 2023 to 2033
Figure 37: Latin America Market Value (US$ Million) by System, 2023 to 2033
Figure 38: Latin America Market Value (US$ Million) by Application Platform, 2023 to 2033
Figure 39: Latin America Market Value (US$ Million) by Country, 2023 to 2033
Figure 40: Latin America Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 41: Latin America Market Volume (Units) Analysis by Country, 2018 to 2033
Figure 42: Latin America Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 43: Latin America Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 44: Latin America Market Value (US$ Million) Analysis by System, 2018 to 2033
Figure 45: Latin America Market Volume (Units) Analysis by System, 2018 to 2033
Figure 46: Latin America Market Value Share (%) and BPS Analysis by System, 2023 to 2033
Figure 47: Latin America Market Y-o-Y Growth (%) Projections by System, 2023 to 2033
Figure 48: Latin America Market Value (US$ Million) Analysis by Application Platform, 2018 to 2033
Figure 49: Latin America Market Volume (Units) Analysis by Application Platform, 2018 to 2033
Figure 50: Latin America Market Value Share (%) and BPS Analysis by Application Platform, 2023 to 2033
Figure 51: Latin America Market Y-o-Y Growth (%) Projections by Application Platform, 2023 to 2033
Figure 52: Latin America Market Attractiveness by System, 2023 to 2033
Figure 53: Latin America Market Attractiveness by Application Platform, 2023 to 2033
Figure 54: Latin America Market Attractiveness by Country, 2023 to 2033
Figure 55: Western Europe Market Value (US$ Million) by System, 2023 to 2033
Figure 56: Western Europe Market Value (US$ Million) by Application Platform, 2023 to 2033
Figure 57: Western Europe Market Value (US$ Million) by Country, 2023 to 2033
Figure 58: Western Europe Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 59: Western Europe Market Volume (Units) Analysis by Country, 2018 to 2033
Figure 60: Western Europe Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 61: Western Europe Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 62: Western Europe Market Value (US$ Million) Analysis by System, 2018 to 2033
Figure 63: Western Europe Market Volume (Units) Analysis by System, 2018 to 2033
Figure 64: Western Europe Market Value Share (%) and BPS Analysis by System, 2023 to 2033
Figure 65: Western Europe Market Y-o-Y Growth (%) Projections by System, 2023 to 2033
Figure 66: Western Europe Market Value (US$ Million) Analysis by Application Platform, 2018 to 2033
Figure 67: Western Europe Market Volume (Units) Analysis by Application Platform, 2018 to 2033
Figure 68: Western Europe Market Value Share (%) and BPS Analysis by Application Platform, 2023 to 2033
Figure 69: Western Europe Market Y-o-Y Growth (%) Projections by Application Platform, 2023 to 2033
Figure 70: Western Europe Market Attractiveness by System, 2023 to 2033
Figure 71: Western Europe Market Attractiveness by Application Platform, 2023 to 2033
Figure 72: Western Europe Market Attractiveness by Country, 2023 to 2033
Figure 73: Eastern Europe Market Value (US$ Million) by System, 2023 to 2033
Figure 74: Eastern Europe Market Value (US$ Million) by Application Platform, 2023 to 2033
Figure 75: Eastern Europe Market Value (US$ Million) by Country, 2023 to 2033
Figure 76: Eastern Europe Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 77: Eastern Europe Market Volume (Units) Analysis by Country, 2018 to 2033
Figure 78: Eastern Europe Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 79: Eastern Europe Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 80: Eastern Europe Market Value (US$ Million) Analysis by System, 2018 to 2033
Figure 81: Eastern Europe Market Volume (Units) Analysis by System, 2018 to 2033
Figure 82: Eastern Europe Market Value Share (%) and BPS Analysis by System, 2023 to 2033
Figure 83: Eastern Europe Market Y-o-Y Growth (%) Projections by System, 2023 to 2033
Figure 84: Eastern Europe Market Value (US$ Million) Analysis by Application Platform, 2018 to 2033
Figure 85: Eastern Europe Market Volume (Units) Analysis by Application Platform, 2018 to 2033
Figure 86: Eastern Europe Market Value Share (%) and BPS Analysis by Application Platform, 2023 to 2033
Figure 87: Eastern Europe Market Y-o-Y Growth (%) Projections by Application Platform, 2023 to 2033
Figure 88: Eastern Europe Market Attractiveness by System, 2023 to 2033
Figure 89: Eastern Europe Market Attractiveness by Application Platform, 2023 to 2033
Figure 90: Eastern Europe Market Attractiveness by Country, 2023 to 2033
Figure 91: South Asia and Pacific Market Value (US$ Million) by System, 2023 to 2033
Figure 92: South Asia and Pacific Market Value (US$ Million) by Application Platform, 2023 to 2033
Figure 93: South Asia and Pacific Market Value (US$ Million) by Country, 2023 to 2033
Figure 94: South Asia and Pacific Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 95: South Asia and Pacific Market Volume (Units) Analysis by Country, 2018 to 2033
Figure 96: South Asia and Pacific Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 97: South Asia and Pacific Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 98: South Asia and Pacific Market Value (US$ Million) Analysis by System, 2018 to 2033
Figure 99: South Asia and Pacific Market Volume (Units) Analysis by System, 2018 to 2033
Figure 100: South Asia and Pacific Market Value Share (%) and BPS Analysis by System, 2023 to 2033
Figure 101: South Asia and Pacific Market Y-o-Y Growth (%) Projections by System, 2023 to 2033
Figure 102: South Asia and Pacific Market Value (US$ Million) Analysis by Application Platform, 2018 to 2033
Figure 103: South Asia and Pacific Market Volume (Units) Analysis by Application Platform, 2018 to 2033
Figure 104: South Asia and Pacific Market Value Share (%) and BPS Analysis by Application Platform, 2023 to 2033
Figure 105: South Asia and Pacific Market Y-o-Y Growth (%) Projections by Application Platform, 2023 to 2033
Figure 106: South Asia and Pacific Market Attractiveness by System, 2023 to 2033
Figure 107: South Asia and Pacific Market Attractiveness by Application Platform, 2023 to 2033
Figure 108: South Asia and Pacific Market Attractiveness by Country, 2023 to 2033
Figure 109: East Asia Market Value (US$ Million) by System, 2023 to 2033
Figure 110: East Asia Market Value (US$ Million) by Application Platform, 2023 to 2033
Figure 111: East Asia Market Value (US$ Million) by Country, 2023 to 2033
Figure 112: East Asia Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 113: East Asia Market Volume (Units) Analysis by Country, 2018 to 2033
Figure 114: East Asia Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 115: East Asia Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 116: East Asia Market Value (US$ Million) Analysis by System, 2018 to 2033
Figure 117: East Asia Market Volume (Units) Analysis by System, 2018 to 2033
Figure 118: East Asia Market Value Share (%) and BPS Analysis by System, 2023 to 2033
Figure 119: East Asia Market Y-o-Y Growth (%) Projections by System, 2023 to 2033
Figure 120: East Asia Market Value (US$ Million) Analysis by Application Platform, 2018 to 2033
Figure 121: East Asia Market Volume (Units) Analysis by Application Platform, 2018 to 2033
Figure 122: East Asia Market Value Share (%) and BPS Analysis by Application Platform, 2023 to 2033
Figure 123: East Asia Market Y-o-Y Growth (%) Projections by Application Platform, 2023 to 2033
Figure 124: East Asia Market Attractiveness by System, 2023 to 2033
Figure 125: East Asia Market Attractiveness by Application Platform, 2023 to 2033
Figure 126: East Asia Market Attractiveness by Country, 2023 to 2033
Figure 127: Middle East and Africa Market Value (US$ Million) by System, 2023 to 2033
Figure 128: Middle East and Africa Market Value (US$ Million) by Application Platform, 2023 to 2033
Figure 129: Middle East and Africa Market Value (US$ Million) by Country, 2023 to 2033
Figure 130: Middle East and Africa Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 131: Middle East and Africa Market Volume (Units) Analysis by Country, 2018 to 2033
Figure 132: Middle East and Africa Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 133: Middle East and Africa Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 134: Middle East and Africa Market Value (US$ Million) Analysis by System, 2018 to 2033
Figure 135: Middle East and Africa Market Volume (Units) Analysis by System, 2018 to 2033
Figure 136: Middle East and Africa Market Value Share (%) and BPS Analysis by System, 2023 to 2033
Figure 137: Middle East and Africa Market Y-o-Y Growth (%) Projections by System, 2023 to 2033
Figure 138: Middle East and Africa Market Value (US$ Million) Analysis by Application Platform, 2018 to 2033
Figure 139: Middle East and Africa Market Volume (Units) Analysis by Application Platform, 2018 to 2033
Figure 140: Middle East and Africa Market Value Share (%) and BPS Analysis by Application Platform, 2023 to 2033
Figure 141: Middle East and Africa Market Y-o-Y Growth (%) Projections by Application Platform, 2023 to 2033
Figure 142: Middle East and Africa Market Attractiveness by System, 2023 to 2033
Figure 143: Middle East and Africa Market Attractiveness by Application Platform, 2023 to 2033
Figure 144: Middle East and Africa Market Attractiveness by Country, 2023 to 2033
The market is valued at USD 12,264.2 million in 2023.
Lockheed Martin, Thales, and FLIR Systems are key market players.
The primary consumer is the defense industry.
The market is estimated to reach USD 18,794.6 million by 2033.
The market is forecast to register a CAGR of 4.5% through 2033.
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Electro Optical System Market
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