Tactical Optics Market worth $13.0 billion by 2025

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Tactical Optics Market worth 13.0 billion by
2025 The report "Tactical Optics Market by
Product (Weapon Scopes Sights, Handheld
Sighting Devices, Cameras Displays), Platform,
Application (ISR, Target Acquisition
Identification, Border Coastal Patrol), End
Use, Range, and Region - Global Forecast to
2025", is projected to grow from USD 9.7 billion
in 2020 to USD 13.0 billion by 2025, at a CAGR of
6.1 from 2020 to 2025. The market growth can be
mainly attributed to the increasing procurement
of armored vehicles, rotorcraft, machine guns,
and aircraft by militaries globally and the
ongoing modernization of naval platforms by
various countries. Download PDF
brochure https//www.marketsandmarkets.com/pdfdow
nloadNew.asp? id80246778 The airborne platform
segment is projected to register the highest
CAGR during the forecast period By platform, the
airborne segment is projected to register the
highest CAGR from 2020 to 2025, due to the
increasing use of Unmanned Aerial Vehicles
(UAVs) for surveillance and assault and rising
orders for fighter aircraft and attack
helicopters by various countries, such as India,
China, the US, and Saudi Arabia. The manned
platform end use segment is projected to lead
the tactical optics market from 2020 to 2025. By
end use, the manned platform segment is projected
to lead the tactical optics market during the
forecast period. This segment is driven by the
high demand for tactical optics, such as
riflescopes, binoculars, spotting scopes, night
vision goggles, and thermal weapon sights.
Significant investments for infantry soldiers by
countries such as the US, Saudi Arabia, India,
China, and South Korea are driving the overall
market.
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• North America is projected to be a high growth
  market for tactical optics during the forecast
  period.
• The tactical optics market in North America is
  projected to grow at the highest CAGR during the
  forecast period. Multiple modernization programs
  by the US Army, Navy, and Air Force are
  contributing to the growth of the tactical optics
  market in this region.
• The tactical optics industry includes major Tier
  1 players, such as Kongsberg Gruppen AS
  (Norway), Raytheon Company (US), Elbit Systems
  Ltd. (Israel), Saab AB (Sweden), Leonardo S.p.A
  (Italy), and BAE Systems plc (UK). These
  companies offer advanced electro-optic cameras
  and thermal cameras, which make up the majority
  of the tactical optics market. The tactical
  optics industry also constitutes Tier 2 and Tier
  3 players who offer tactical optics for
  dismounted soldiers, which cost comparatively
  lesser. These players include Sig Sauer, Inc.
  (US), Vortex Optics (US), Bushnell Corporation
  (US), and Leupold Stevens, Inc. (US).
• In January 2019, Sig Sauer, Inc. was awarded a
  contract worth USD 12 million by the US SOCOM
  for the supply of its Electro-Optics TANGO6T
  1-624 Second Focal Plane (SFP) Riflescope and
  ALPHA4 Ultralight Mount, allowing the company to
  increase its share in the riflescopes market.
• In September 2018, Leonardo S.p.A. received a
  contract worth USD 18 million from the Naval
  Surface Warfare Center for the supply of
  Improved Night Observation Device (INOD) Block
  III thermal weapon sight for marine snipers.
• In March 2018, BAE Systems plc secured a contract
  worth USD 97 million from the US Army for the
  supply of new night vision goggles and thermal
  weapon sights.
• Dont miss out on business opportunities in
  Tactical Optics Market. Speak to our analyst and
  gain crucial industry insights that will help
  your business grow.

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