The Worldwide Electro Optical Systems Industry is Expected to Reach $14.2 Billion by 2026 - ResearchAndMarkets.com | Business Wire

2022-05-14 09:16:35 By : Qiujie He

DUBLIN--(BUSINESS WIRE )--The "Electro Optical Systems - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Amid the COVID-19 crisis, the global market for Electro Optical Systems estimated at US$11.3 Billion in the year 2020, is projected to reach a revised size of US$14.2 Billion by 2026, growing at a CAGR of 4.1% over the analysis period.

Airborne, one of the segments analyzed in the report, is projected to record a 3.5% CAGR and reach US$9.8 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Ground segment is readjusted to a revised 4.7% CAGR for the next 7-year period.

Airborne platforms are emerging as an important resource for defense forces to ensure an efficient and robust security & surveillance environment. The growth of airborne segment is likely to be supported by the increasing use of these systems in UAV applications including surveillance, mapping, search & rescue and reconnaissance that require cameras to capture data and transfer video information to ground control stations.

The U.S. Market is Estimated at $4.2 Billion in 2021, While China is Forecast to Reach $1.8 Billion by 2026

The Electro Optical Systems market in the U.S. is estimated at US$4.2 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.8 Billion by the year 2026 trailing a CAGR of 5.8% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.9% and 3.9% respectively over the analysis period.

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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com

For E.S.T. Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900