According to the new research report published by The Insight Partners, titled “Electro-Optics in Naval Market was valued at US$ 8,629.35 million in 2022 and is expected to reach US$ 11,139.38 million by 2028; it is estimated to register a CAGR of 4.3% during the forecast period.
The naval electro-optics systems consist of multi-sensor imaging modules catering to the needs of surveillance, monitoring, fire control, and panoramic search-and-track. In addition, the electro-optic enables the detection of all airborne and surface threats, both symmetrical and asymmetrical, regardless of the time of the day and weather conditions. Moreover, for high sea and coastal security operations, electro-optic systems provide surveillance, fire control, and air defense systems for several surface vessels, including aircraft carriers, frigates, corvettes, ocean and coastal patrol boats, and high-speed craft. Moreover, electro optic sensors are operational in various airborne, ground, and naval applications, providing position and orientation data required for operation and target acquisition. Also, the sensors provide early-warning, abnormal activity monitoring, incident management, and comprehensive observation and reaction capabilities.
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Based on technology, the electro-optics in the naval market is segmented into camera, sensor, and laser range finder. The camera segment dominated electro-optics in naval market in 2021, as electro-optic camera in maritime imaging systems provides a critical capability to enhance navigation, intelligence, surveillance, and reconnaissance. By application, the electro-optics in naval market is segmented into target detection, identification, and tracking; surveillance; fire control; and others. Based on end use, the market is bifurcated into defense and commercial. The electro-optics in naval market for the defense segment is further segmented into frigates, corvettes, destroyers, aircraft carriers, submarines, and others.
The defense segment held a larger electro-optic market share in 2021 due to rapid incorporation of unmanned surface vehicle (USV) in the defense industry, which are remotely controlled and highly autonomous and conducts a wide spectrum of defense and maritime security missions. The electro-optics in naval market for the commercial segment is further segmented into cruise ships, merchant vessels, and cargo ships. By region, the market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The electro-optics in naval market players are focusing on product differentiation to gain a competitive advantage and remain competitive in the market. Safran SA; L3Harris Technologies, Inc.; Ultra Maritime; Tonbo Imaging; Aselsan AS; Elbit Systems Ltd.; SAAB AB; Chess Dynamics; Isreal Aerospace Industries Ltd.; and Naval Group are among the major electro-optics in naval market players.

Global economic stability has been completely upended by COVID-19 pandemic, which has halted businesses, paused production lines for defense electronics, temporarily shut down shipbuilding companies, and disturbed routine operations at several manufacturing facilities. The defense electronics industry is attempting to manage and mitigate the harmful effects of the crisis, as it appears that few enterprises have been spared. Furthermore, the supply chain interruptions stopped manufacturing activities. Thus, the COVID-19 pandemic had a marginally negative impact on the global electro-optics in naval market growth. However, in 2021, the industrial manufacturing operations have returned to their normal pace, and the global electro-optics in naval market size is expected to surpass the 2019 market levels by 2023.
Companies Profiled in this report includes
• Safran SA
• L3Harris Technologies Inc
• Ultra
• Tonbo Imaging
• Aselsan AS
• Elbit Systems Ltd
• SAAB AB
• Chess Dynamics Ltd
• Israel Aerospace Industries Ltd
• Naval Group
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