Target Acquisition Systems Market Set to Grow at the Fastest Rate

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Target Acquisition Systems Market Set to Grow at
the Fastest Rate - Time to Grow your
Revenue According to the latest market research
report the Target Acquisition Systems Market is
projected to grow from USD 11.9 billion in 2019
to USD 15.5 billion by 2024, at a CAGR of 5.46
from 2019 to 2024. Some of the factors that are
expected to fuel the growth of the target
acquisition systems market are advancements
in automatic weapons, increasing defense
expenditure of countries, rise in demand for
artillery systems by military forces, and ongoing
military modernization programs worldwide. Key
Market Players Major players in the target
acquisition systems market include Rheinmetall
(Germany), BAE Systems (UK), Israel Aerospace
Industries (Israel), Aselsan A.S. (Turkey),
Elbit Systems (Israel), Hensoldt (Germany),
Leonardo (Italy), and Raytheon Company (US),
among others. These players have adopted
various growth strategies, such as contracts,
agreements, and partnerships, to further expand
their presence in the global target acquisition
systems market. Download PDF Brochure
_at_ https//www.marketsandmarkets.com/pdfdownloadNew
.asp?id89317342 Based on platform, the naval
segment is expected to grow at the highest CAGR
during the forecast period Based on platform, the
naval segment of the target acquisition systems
market is projected to grow at the highest CAGR
during the forecast period. The growth of this
segment can be attributed to the procurement
of widely used target acquisition systems,
such as destroyers, corvettes, frigates, offshore
patrol vessels, unmanned surface vessels, and
amphibious ships. Based on end use, the military
segment is expected to lead the target
acquisition systems market from 2019 to
2024 Based on end use, the military segment of
the target acquisition systems market is expected
to grow at a higher CAGR as compared to the
homeland security segment
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during the forecast period. The growing use of
unmanned systems for surveillance is expected to
drive the demand for the target
acquisition systems used in ISR applications.
The US has a large contribution to the military
modernization programs, and companies focus on
the US as it has a huge defense budget. Based on
range, the short range (08 km) segment is
expected to grow at the highest CAGR in the
target acquisition systems market from 2019 to
2024 Based on range, the short range (08 km)
segment is expected to grow at the highest CAGR
during the forecast period. The growth of the
short range segment can be attributed to the
increasing demand for short range target
acquisition systems for greater accuracy as
compared to long-range artillery systems. The
Asia Pacific region is expected to grow at the
highest CAGR from 2019 to 2024 Asia Pacific is
expected to grow at the highest CAGR during the
forecast period, due to the increase in defense
expenditure by India and China and the expansion
of military capabilities. Strong domestic
production base and increasing use of
automatic weapons on combat vehicles and naval
platforms are some of the other factors
expected to drive the growth of the target
acquisition systems market in Asia Pacific. Ask
for Sample Report _at_ https//www.marketsandmarkets
.com/requestsampleNew.asp?id89317342
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