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Electro Optical Systems Market Trends

Report ID: GMI6073
Published Date: Jun 2023
Report Format: PDF

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Electro Optical Systems Market Trends

The market is witnessing a trend toward miniaturization and the integration of components & systems. Researchers and manufacturers are engaged in the development of compact & lightweight systems, which can be seamlessly integrated into various devices & applications, thereby catering to the demand for portable & wearable devices. The integration of electro optical systems with AI & ML algorithms enables advanced image processing, pattern recognition, and real-time analytics. This integration also enhances the overall performance & functionality of electro optical systems, which find applications in autonomous vehicles, robotics, surveillance, and medical diagnostics.

Authors: Suraj Gujar, Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

Market size for electro optical systems reached USD 12.6 billion in 2022 and will witness over 5.5% CAGR from 2023 to 2032 due to the increasing adoption in surveillance & security applications, including border control, perimeter monitoring, and critical infrastructure protection.

Demand for imaging electro optical systems accounted for over 50% of the volume share in 2022 and will witness significant growth through 2032 owing to the surging need for high resolution, enhanced sensitivity, improved signal processing, and the integration of advanced features

North America recorded over 35% of the electro optical systems market share in 2022 driven by the strong presence of major defense contractors and technological advancements in the region

Some of the key electro optical systems business players include Teledyne FLIR LLC, BAE Systems PLC, Lockheed Martin Corporation, Thales Group, Northrop Grumman Corporation, and L3Harris Technologies, Inc.