Dublin, Feb. 11, 2025 (GLOBE NEWSWIRE) -- The "Target Acquisition Systems Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2020-2030F" report has been added to ResearchAndMarkets.com's offering.
The Target Acquisition Systems Market was valued at USD 15.07 Billion in 2024, and is expected to reach USD 20.83 Billion by 2030, rising at a CAGR of 5.60%.
The global target acquisition systems market is experiencing significant growth driven by advancements in military technology and rising defense spending worldwide. These systems, which encompass radar, infrared, and electro-optical sensors, are essential for enhancing precision targeting in military operations. The demand for more accurate, real-time targeting solutions is being fueled by the need for improved surveillance, reconnaissance, and defense capabilities.
Additionally, the increasing integration of artificial intelligence, automation, and data analytics is enhancing the efficiency and accuracy of these systems. The market is expected to expand further with growing defense budgets, evolving security threats, and technological advancements in military applications.
North America is the dominant region in the global target acquisition systems market, driven by significant defense spending and technological advancements. The U.S. military, with its extensive investment in cutting-edge defense technologies, plays a crucial role in this dominance. The region's focus on modernizing military infrastructure and incorporating advanced sensors, AI, and automation in target acquisition systems further strengthens its market position. Additionally, the presence of leading defense contractors and continuous R&D in North America contributes to the development of state-of-the-art systems. North America's strategic military alliances and its global presence ensure sustained growth in this market.
Market Drivers
- Technological Advancements in Military Systems
- Rising Defense Spending Globally
- Increasing Security Threats and Geopolitical Tensions
Market Challenges
- Interoperability and Standardization Issues
- Technological Complexity and Integration
Market Trends
- Integration of Advanced Sensors and Multi-Sensor Systems
- Shift Toward Multi-Domain Operations
Key Market Players
- ASELSAN Elektronik Sanayi ve Ticaret Anonim Sirketi
- BAE Systems plc
- Elbit Systems Ltd.
- Hensoldt AG
- Israel Aerospace Industries Ltd.
- Wuhan Joho Technology Co. Ltd.
- Leonardo S.p.A.
- Lockheed Martin Corporation
- RTX Corporation
- Rheinmetall AG
Report Scope
Target Acquisition Systems Market, by Platform:
- Land
- Airborne
- Naval
Target Acquisition Systems Market, by Range:
- Short Range
- Medium Range
- Long Range
Target Acquisition Systems Market, by Region:
- North America
- Europe & CIS
- Asia-Pacific
- Middle East & Africa
- South America
Key Attributes
| Report Attribute | Details |
| No. of Pages | 181 |
| Forecast Period | 2024-2030 |
| Estimated Market Value (USD) in 2024 | $15.07 Billion |
| Forecasted Market Value (USD) by 2030 | $20.83 Billion |
| Compound Annual Growth Rate | 5.6% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/263enx
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