(PRWEB) August 18, 2014
The electro-optic market in North America is estimated at $3,116.40 million in 2014, and is expected to reach $3,790.73 million in 2020, at a CAGR of 3.32%. The North American electro-optic systems market is estimated to contribute 26.5% to the global electro-optic systems market.
Browse through the TOC of the North American electro-optic systems market report, to get an idea of the in-depth analysis provided. This also provides a glimpse of the segmentation in the North American electro-optic systems market, and is supported by various tables and figures.
Evolution of technology is aiding development of highly capable electro-optic systems that can be deployed in a variety of applications. The advancement in the field of imaging sensors has enabled electro-optic systems to have an increased range of surveillance and detection of targets.
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Airborne electro-optic systems are estimated to rise in the defense segment as UAVs are increasingly being deployed in air forces around the world. Electro-optic systems will be the core of UAV’s reconnaissance and surveillance capability.
The airborne segment in the U.S. is estimated to grow from $436.30 million in 2014 to $594.39 million by 2020, at a CAGR of 5.29%. The growth will be driven by the F-35 joint strike fighters and UAV. The U.S. air force is eventually expected to buy 1,763 F-35 jets.
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Ground based electro-optic systems are also finding increasing deployment, and they act both as standalone and as a complementary system for the ground-based radar to search and track stealth aircraft that are increasingly becoming hard to track by traditional radars. Thermal imaging is another market that is projected to grow during the forecast period. It majorly uses infrared electro-optic systems for automation control and manufacturing sectors.
This report includes the market share, supply chain and value chain analyses, and market metrics such as drivers and restraints. In addition, it presents a competitive landscape and company profiles of the key players in this market.
Europe Electro-Optical Market
Electro-optical systems are gradually becoming more attractive for transmitting electrical signals. Electro-optical is used in the military sector for airborne systems, ground-based deep space surveillance equipment, night vision devices, and a host of other optical tools. In the Homeland Security sector, they can be used in weapon sights, thermal imaging, target acquisition, imaging and surveillance, and other applications.
The Europe Electro-optical systems market is estimated to grow from $2.94 billion in 2014 to $3.08 billion in 2020, registering a CAGR of 0.8%. The main market players in this sector are identified for competitive analysis. Evolution of technology and increasing deployment for surveillance equipment are the primary drivers for the market. The Homeland Security segment will also see a growth due to the deployment of Electro-optical for search and rescue activities of coast guard and law enforcement agencies.
Asia-Pacific Electro-Optical Market
The Asia-Pacific Electro-optical systems market is estimated to grow from $1,564.08 million in 2014 to $2,039.27 million in 2020, registering a CAGR of 4.52%. Airborne Electro-optical systems are expected to register a CAGR of 6.51% during the forecast period. The main market players in this sector are identified for competitive analysis. The defense segment will be driven by the upgrade and replacement of existing Electro-optical systems currently deployed among defense forces. Evolution of technology and increasing deployment for surveillance equipment are the primary drivers for the market.
The report on the Electro-optical systems market in Asia-Pacific provides a complete analysis of the Asia Pacific market and its share for the next five years. The market is segmented into defense, aerospace, and Homeland Security. The defense segment is further segmented into airborne, naval, and land-based systems. The report also covers the applications of Electro-optical systems across all segments, along with geographic trends.
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