Global Target Acquisition Systems Market Size 2025, Forecast To 2034
4 Mar, 2025
What Does the Historical and Current Target Acquisition Systems Market Size Trend Indicate?
The target acquisition systems market has seen considerable growth due to a variety of factors.
•The size of the target acquisition systems market has been expanding robustly in the past few years. The market is projected to rise from $14.38 billion in 2024 to $15.12 billion in 2025, reflecting a compound annual growth rate (CAGR) of 5.2%.
The growth during the historic period is attributed to factors such as military modernization initiatives, escalation in threats and conflicts, the move towards network-centric warfare, the incorporation of artificial intelligence and machine learning, as well as the upgrade of existing systems.
How Will the Target Acquisition Systems Market Size Evolve over the Forecast Period?
The target acquisition systems market is expected to maintain its strong growth trajectory in upcoming years.
• Forecasted robust growth is anticipated for the target acquisition systems market over the coming years, projecting a size of $20.14 billion by 2029 with a CAGR of 7.4%.
Factors attributing to this growth over the predicted period encompass expansion of naval and air defense systems, precision strike requirements rising, retrofitting and upgradation focus, as well as an emphasis on network-centric warfare, and military modernization on the up. Furthermore, there is an observed shift towards urban warfare solutions, making advancements in counter stealth technologies, enhancement in modular and upgradeable systems, deployment of infrared imaging systems, as well as an increased adoption of long-range precision targeting during the forecast period.
What Are The Core Factors Supporting Growth In The Target Acquisition Systems Market?
The growth of the target acquisition systems market is significantly influenced by the escalating defense budget in developing countries. This budget encompasses the central government's total expenditure on all military branches, including peacekeeping forces. The surge in military budgets is a response to the burgeoning need to safeguard national security against diverse threats. Target acquisition systems, which are implemented by military weapons to accurately identify potential enemy targets either in the air or on ground using satellite navigation data, thereby determining the precise coordinates of the target. The military budget is expanding due to escalating threats, ensuring a peaceful global environment, which ultimately has a positive impact on the target acquisition systems market. To illustrate, in April 2024, the Stockholm International Peace Research Institute, a Swedish organization, reported that global military spending had reached $2,443 billion in 2023, marking a 6.8% rise in real terms compared to 2022. Consequently, the increasing military budget is propelling the growth of the target acquisition systems market.
What Are The Major Segments Within The Global Target Acquisition Systems Market?
The target acquisition systems market covered in this report is segmented –
1) By Platform: Land, Airborne, Naval
2) By Sub System: Cameras, Scopes And Sights, Detecting And Locating Systems, Modules, Add-On Systems, Other Sub Systems
3) By Range Type: Short Range (0-8 Km), Medium Range (8-250 Km), Long Range (Above 250 Km)
4) By End Use: Military, Homeland Security
Subsegments:
1) By Land: Ground Vehicles, Portable Systems, Fixed Installation Systems
2) By Airborne: Unmanned Aerial Vehicles (UAVs), Manned Aircraft, Helicopters
3) By Naval: Surface Ships, Submarines, Naval Patrol Aircraft
Which Trends Are Expected To Transform The Target Acquisition Systems Market?
The proliferation of technological innovations is a predominant trend in the target acquisition systems market. Key players in this market are concentrating on creating new technological platforms to maintain their market stance. For instance, in June 2022, Elbit Systems Ltd., a military technology corporation based in Israel, unveiled their latest electro-optical (EO) payload for ISTAR, the COAPS-L. This new device is a more compact variant of their Commander Open Architecture Panoramic Sight (COAPS), which is employed on principal combat tanks and Armored Fighting Vehicles (AFVs) globally. The lightweight COAPS-L provides AFV-grade ISTAR capabilities for platform types such as surface vessels, Unmanned Ground Vehicles (UGVs), and light tactical vehicles, which are all compact and have a weight limit of just 40 kg. COAPS-L can operate either independently as an ISTAR payload or in conjunction with the platform's weapon station.
Who Are the Key Players in the Target Acquisition Systems Market?
Major companies operating in the target acquisition systems market include:
• Elbit Systems Ltd.
• Leonardo S.p.A
• Safran SA
• Thales Group
• Rheinmetall AG
• Instro Precision Limited
• Israel Aerospace Industries
• Hensoldt AG
• Kearfott Corporation
• Blighter Surveillance Systems
• Thermoteknix Systems Ltd.
• Lockheed Martin Corporation
• L3Harris Technologies Inc.
• Aselsan A.S.
• Wuhan JOHO Technology Co. Ltd.
• Raytheon Technologies Corporation
• General Dynamics Corporation
• FLIR Systems Inc.
• BAE Systems plc
• Leidos Holdings Inc.
• Kratos Defense & Security Solutions Inc.
• Ultra Electronics Holdings plc
• Rafael Advanced Defense Systems Ltd.
• Harris Corporation
• Rostec State Corporation
• Hanwha Corporation
• RADA Electronic Industries Ltd.
• Saab AB
• Cobham plc
• Curtiss-Wright Corporation
What Is The Most Dominant Region In The Target Acquisition Systems Market?
North America was the largest region in the target acquisition systems market in 2024.Asia-Pacific is expected to be the fastest-growing region in the global target acquisition systems market report during the forecast period. The regions covered in the target acquisition systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa