Dublin, Nov. 30, 2023 (GLOBE NEWSWIRE) -- The "Electro Optical Systems - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Electro Optical Systems Market to Reach $17.2 Billion by 2030
The global market for Electro Optical Systems estimated at US$11.8 Billion in the year 2022, is projected to reach a revised size of US$17.2 Billion by 2030, growing at a CAGR of 4.9% over the analysis period 2022-2030. Airborne, one of the segments analyzed in the report, is projected to record 4.1% CAGR and reach US$11.1 Billion by the end of the analysis period. Growth in the Ground segment is estimated at 5.7% CAGR for the next 8-year period.
In 2022, the global market for cold storage is competitive, with players having varying levels of market presence, ranging from strong to niche. Cold storage is a crucial component of cold chain logistics, and there are different types of cold storage construction.
The cold storage industry has witnessed significant growth, driven by the COVID-19 pandemic's impact on online grocery shopping and the need for vaccine storage. The surge in online grocery shopping has increased the demand for cold storage facilities, while vaccine distribution has led to numerous cold storage construction projects.
The U.S. Market is Estimated at $4.3 Billion, While China is Forecast to Grow at 6.7% CAGR
The market is expected to continue its robust growth, with the United States leading in cold storage construction. However, the industry faces challenges such as high build-out costs, a shortage of skilled labor, extended lead times, and delivery delays.
The Electro Optical Systems market in the U.S. is estimated at US$4.3 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$2.4 Billion by the year 2030 trailing a CAGR of 6.7% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.5% and 4.6% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 3.8% CAGR.
What`s New?
- Special discussions on the global economic climate and market sentiment
- Coverage on global competitiveness and key competitor percentage market shares
- Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and trademarked research platform
- Complimentary updates for one year
- Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 409 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $11.8 Billion |
| Forecasted Market Value (USD) by 2030 | $17.2 Billion |
| Compound Annual Growth Rate | 4.8% |
| Regions Covered | Global |
MARKET TRENDS & DRIVERS
- Military Electro Optical and Infrared Systems Market: Evolving Defense Needs Support Growth
- Advancements in Defense Electronics and Miniaturization of Military Electronics Support Market Growth
- Growing Use of Sensor-Based Systems in Military Applications Augurs Well for the Market
- With Defense Budgets Coming Under Intense Pressure, EO Systems Market Witnesses Challenging Times
- Defense Spending Trends Set Demand Dynamics for EO Systems
- Improving Target Identification, Threat Assessment and Monitoring: Essential Capabilities of EO Systems
- Growing Emphasis on Border Security Drives Demand for EO Systems
- Continued Threat of Terrorism Drives the Focus on Surveillance as Counterterrorism Response
- Thermal Cameras: An Important System for Securing Borders
- Market Primed to Benefit from the Rising Adoption of High Capability UAVs
- Increasing Use of Drones in the Battlefield Pushes Up Demand for EO/IR Systems: Global Market for Military Drones (In US$ Billion) for the Years 2018, 2020, 2022 and 2024
- With Unmanned Aircrafts Posing Threat of Terrorism and Smuggling, EO/IR-based Counter-Drone Systems Grow in Prominence
- Application of EO/IR in Homeland Security and Search and Rescue Missions: Opportunities for Growth
- Technological Advances to Bolster Market Growth
- A Glance at Select Innovations in Electro Optical Systems
- New and Advanced EO Materials
- Ultra-rapid EO Modulator for Converting THz Signals into Optical Signals
- US Companies Offer Support to US Air Force for EO/RF-Related Technology Development
- EO System-Based Coast Guard Technology for Turkey
FOCUS ON SELECT PLAYERS (Total 62 Featured)
- BAE Systems PLC
- Collins Aerospace
- Elbit Systems Ltd.
- Indra Sistemas SA
- Aselsan A.S.
- Bharat Electronics Ltd.
- II-VI, Inc.
- CONTROP Precision Technologies Ltd.
- Chess Dynamics Ltd.
- Copenhagen Sensor Technology A/S
- Fotona d.o.o
- GEM Elettronica
- Electro Optic Systems Pty Ltd.
- HENSOLDT AG
- Adsys Controls, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/nky188
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