Industry Background:
Target Acquisition refers to the identification, detection and location of the target with detailed information to permit effective weapon employment. The target here is an entity or object that is considered for possible engagement or other action. TAS provides long-range sensor and anti-armour which enables the soldiers to shape the battlefield at long range with tube launched, optically tracked, wireless guided missiles or directing the employment of other weapon systems to destroy those targets. Advancement in automation weapons and increasing defence expenditure of countries are the major factor driving the target acquisition system market.
This growth is primarily driven by Increasing Defense Expenditure of Countries, Rise in Demand for Artillery System by Military Forces, Ongoing Military Modernization Program around the Globe and Growing Demand for Autonomy in Weapon Systems.
Globally, a noticeable market trend is evident Integrated Weapon Systems and Trajectory Correction Systems (TCS) are in Trend
. The Aerospace & Defense sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Manufacturers, such as BAE Systems (United Kingdom), Hensoldt (Germany), Leonardo (Italy), Raytheon Company (United States), Elbit Systems (Israel), Israel Aerospace Industries (Israel), Aselsan A.S. (Turkey), Rheinmetall AG (Germany), Lockheed Martin Corporation (United States), Safran Group (France) and Thales (France) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In February 2019, Hensoldt partnered with Electtronica, Indra, and Thales to develop a Medium Altitude Long Endurance (MALE) PROGRAM with a future-proof Intelligence, Surveillance, Target Acquisition, and Reconnaissance (ISTAR) function.
In November 2018, Elbit Systems Israel-based international defence electronics company, launched a new Forward Observer system, HattoriX, which can acquire Category 1 (CAT-1) targets with a target location error of a few meters.
Market Drivers
- Increasing Defense Expenditure of Countries
- Rise in Demand for Artillery System by Military Forces
- Ongoing Military Modernization Program around the Globe
- Growing Demand for Autonomy in Weapon Systems
Market Trend
- Integrated Weapon Systems and Trajectory Correction Systems (TCS) are in Trend
- Squad Binocular Night Vision Goggles
- Next Generation Electro Optical Laser Target Locator
Restraints
- High Cost Associated With Target Acquisition System
Opportunities
Increased R&D Investment for Technological Advancements in Defense Operation
Challenges
Integration of Automatic Weapon System With A Wide Range of Platform and Accuracy of Target Acquisition System is Hampered In Extreme Weather Condition
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Target Acquisition System Study Sheds Light on
The Target Acquisition System Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Target Acquisition System industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Target Acquisition System industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.