Tactical Optics Market Trends, Forecast and Competitive Analysis (2021-2030)

 

• Tactical optics refer to optical equipment and devices used for military applications
• These devices help shooters/pilots/soldiers to see beyond the scope of their regular vision as they have a low magnification range
• The optical devices are low on weight, compact, and effective, and can be mounted on military aircrafts and vehicles, thereby ensuring the safety of the pilots or soldiers

Steps to counter terrorism with help of modern technology

• Development in technology and steps taken to curb the increase in terrorism and geo political conflicts are the prime reasons for the growth of the tactical optics market
• Growth in the usage of military vehicles, equipped with modern amenities such as EO/IR sensors/cameras, remote weapon stations, and turrets is driving the growth of the market
• Focus of governments and defense bodies to provide enhanced Intelligence, Surveillance, and Reconnaissance (ISR) functions is another major factor responsible for the growth of the tactical optics market

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APAC market set to witness significant growth during the forecast period

• In terms of regions, the tactical optics market can be divided into North America, Asia Pacific (APAC), Europe, South America, and Middle East & Africa
• Regionally, in terms of demand, APAC is expected to lead the market share during the forecast period due to the rising demand for aircrafts, armored vehicles, and helicopters in the region.
• Also, APAC’s growth is significantly bolstered by heavy investment in troop modernization by countries such as China, India, and Japan
• North America remains at the top position in terms of supply with the presence of a large number of companies manufacturing tactical optic devices.

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Key Players Operating in the Tactical Optics Market

The market for tactical optics is a highly fragmented one, and various companies cater to various kinds of market demand. Some cater to weapon scopes & sights, while others cater to handheld sighting devices, and cameras & displays. The major players covered in this report are:

• Sig Sauer, Inc. (US)
• Vortex Optics (US)
• Bushnell Corporation (US)
• Leupold & Stevens, Inc. (US)
• Kongsberg Gruppen AS (Norway)
• Raytheon Company (US)
• Elbit Systems Ltd. (Israel)
• Saab AB (Sweden)
• BAE Systems plc (UK)

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

• Customer Experience Maps
• Insights and Tools based on data-driven research
• Actionable Results to meet all the business priorities
• Strategic Frameworks to boost the growth journey