Originally Published on: technavio |Military Thermal Weapon Sights Market by Application, Type and Geography - Forecast and Analysis 2023-2027
"Military Thermal Weapon Sights Market - Envisioning Growth and Trends by 2023"
Introduction:
The Military Thermal Weapon Sights Market is poised for expansion, with an estimated Compound Annual Growth Rate (CAGR) of 5.85% between 2022 and 2027. During this period, the market size is projected to increase by USD 289.57 million. This growth is underpinned by various factors, including the introduction of high-definition thermal imaging systems, an increased focus on Intelligence, Surveillance, and Reconnaissance (ISR) operations, and the evolving landscape of asymmetric warfare on a global scale.
Market Segmentation:
This comprehensive report thoroughly covers market segmentation, categorizing it by application (air, maritime, and land), type (gun-based thermal weapon sights and vehicle-mounted thermal weapon sights), and geography (North America, APAC, Europe, Middle East and Africa, and South America). The report also features an in-depth analysis of market drivers, trends, and challenges. Additionally, it encompasses historical market data from 2017 to 2021.
Market Overview:
The Military Thermal Weapon Sights Market displays dynamic growth driven by several key factors. The introduction of high-definition thermal imaging systems is a primary growth driver. High-definition (HD) technology has revolutionized imaging systems, significantly enhancing their effectiveness across various applications. In military contexts, imaging technology plays a critical role in intelligence, surveillance, and targeting functions, empowering operators with reliable target recognition, discrimination, and acquisition capabilities.
Weapon sights are increasingly incorporating HD technology to detect, recognize, and engage targets at extended ranges. For instance, EK offers the Smart Thermal Weapons Sight (STWS), based on advanced HawkVision thermal imaging core, which delivers high-sensitivity, high frame rate, crisp images. The proliferation of HD thermal imaging technology is expected to drive the growth of the military thermal weapon sights market during the forecast period.
Major Trends:
A significant trend in the military thermal weapon sights market is the emergence of wireless thermal weapon sights. Notable examples include the Enhanced Night Vision Goggle (ENVG) developed by BAE Systems. ENVG, a helmet-mounted fused goggle, combines image intensification and thermal imaging capabilities, delivering enhanced target resolution and tracking capabilities. The latest ENVG III version has expanded features, such as a wider field of view (FoV), high-resolution imaging, and wireless connectivity with weapon-mounted thermal sights. These innovations in wireless thermal weapon sights are expected to continue, further propelling market growth.
Key Challenges:
One of the primary challenges in the market is the high production cost associated with military thermal weapon sights. Several factors contribute to the elevated production cost, including the use of advanced technology, specialized skills required for assembly and testing, complex sensor technology, advanced components like lenses and circuit boards, and the need for specialized equipment and personnel for testing and quality assurance. These factors can deter the market's growth during the forecast period.
Market Segmentation:
Application Segment: The air segment is expected to be a major driver of market growth, covering the utilization of thermal weapon sights in aircraft and helicopters used in military operations. This technology enables accurate target detection and tracking over long distances.
Type Segment: The gun-based thermal weapon sights are set to dominate this market segment, driven by demand for lightweight and portable weapon sights with advancements in thermal imaging technology.
Regional Analysis:
North America is anticipated to contribute significantly to the market, with a 36% share by 2027. Key factors include investment in military modernization, increasing threats from terrorist organizations and hostile nations, and ongoing developments in thermal imaging systems to provide a battlefield advantage.
Key Players:
Prominent market players include American Technologies Network Corp. and L3Harris Technologies Inc., offering a range of military thermal weapon sights.
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