Major Optronics Companies Target International Markets As US Military Budgets Continue To Fall
As a result of economic cutbacks and changing priorities there has been much upheaval in military technology markets in the last five years, with numerous big-name projects having been reduced in scope or suspended indefinitely. Due to their essential nature and almost frequent day-to-day use, military optronics systems were spared much of this diminution, however with NATO’s combat operations in Afghanistan having drawn to a close and major military budgets continuing to fluctuate, many providers have found the market environment much more competitive in 2014. Indeed, maintenance contracts aside, the time of huge omnibus contracts for night vision, infrared, or other optical devices, is well and truly over. This is especially the case in the United States, where millions of devices have been purchased in the last ten years, but also in other European countries that are facing intense fiscal pressures and lobbying from respective military services.
The report assesses that the global military optronics market will attain revenues of $5.05bn in 2015.
Military Optronics, Surveillance & Sighting Systems Market 2015-2025
Long-term modernisation efforts and investment in war-fighter research and development will go a long way to softening the impact of such changes, yet the main opportunity that has emerged for relevant companies is the surge in demand in markets outside of the U.S. and the leading Western European countries such as the U.K. and France. Certainly, after having been occupied by the task of supplying NATO soldiers for so long, many companies have since found a ready market in less-traditional markets for systems and devices that have been refined and combat proven over the years. Given the emphasis that more and more countries are placing upon homeland security, and the way in which security and military entities continue to seek more advanced equipment, there are also numerous options for those smaller companies that are not yet large enough to target these international markets, thus ensuring that the military optronics market will remain an area of further development and innovation in the years ahead.
The 409 page, 70,000-word report also includes a detailed qualitative analysis of the strengths, weaknesses, opportunities and threats (SWOT) underpinning the market for the period 2015-2025. Military Optronics, Surveillance & Sighting Systems Market 2015-2025: Personal Imaging Systems, Electro Optical (EO) & Infrared (IR) Imaging Technologies, therefore provides an unrivalled level of detail in its analysis of market trends and commercial prospects.
The report’s findings are reinforced by an exclusive interview with Tim White, Director of Communications, and Eric Garris, Chief Engineer, at Exelis, Inc, one of the leading companies in the Optronics sector.
Callum Jennings, the analyst responsible for the military optronics report, summarised its findings:
“The drive towards highly advanced individual warfighter systems is currently picking up speed in both Europe and North America, where land forces are looking to equip the individual soldier with the optical devices, personnel protective equipment, and intelligence capabilities to enable them to perform on the modern battlefield. Presently, this is not a trend that is being replicated in other regions like Africa and Central and South America, as most developing markets continue to make individual off the shelf purchases rather than invest in advanced programs. Although, as a result of fluctuating defence expenditure in countries like the U.S., this is unlikely to affect companies’ expansion strategies, as more than a few defence companies are looking to steer their operations away from the U.S., and into new and more lucrative markets in Asia and the Middle East.”
Military Optronics, Surveillance & Sighting Systems Market 2015-2025: Personal Imaging Systems, Electro Optical (EO) & Infrared (IR) Imaging Technologies, is an invaluable reference offering extensive market analysis and evaluation of future commercial prospects.
Source : ASDReports - Market Research - view original press release
May 15 - 16, 2017 - Prague, Czech Republic