Tactical Optics: Introduction
- Tactical optics refer to optical equipment and devices used for military applications
- These devices help shooters/pilots/soldiers to see beyond the scope of their regular vision as they have a low magnification range
- The optical devices are low on weight, compact, and effective, and can be mounted on military aircrafts and vehicles, thereby ensuring the safety of the pilots or soldiers
Steps to counter terrorism with help of modern technology
- Development in technology and steps taken to curb the increase in terrorism and geo political conflicts are the prime reasons for the growth of the tactical optics market
- Growth in the usage of military vehicles, equipped with modern amenities such as EO/IR sensors/cameras, remote weapon stations, and turrets is driving the growth of the market
- Focus of governments and defense bodies to provide enhanced Intelligence, Surveillance, and Reconnaissance (ISR) functions is another major factor responsible for the growth of the tactical optics market
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APAC market set to witness significant growth during the forecast period
- In terms of regions, the tactical optics market can be divided into North America, Asia Pacific (APAC), Europe, South America, and Middle East & Africa
- Regionally, in terms of demand, APAC is expected to lead the market share during the forecast period due to the rising demand for aircrafts, armored vehicles, and helicopters in the region.
- Also, APAC’s growth is significantly bolstered by heavy investment in troop modernization by countries such as China, India, and Japan
- North America remains at the top position in terms of supply with the presence of a large number of companies manufacturing tactical optic devices
Key Players Operating in the Tactical Optics Market
The market for tactical optics is a highly fragmented one, and various companies cater to various kinds of market demand. Some cater to weapon scopes & sights, while others cater to handheld sighting devices, and cameras & displays. The major players covered in this report are:
- Sig Sauer, Inc. (US)
- Vortex Optics (US)
- Bushnell Corporation (US)
- Leupold & Stevens, Inc. (US)
- Kongsberg Gruppen AS (Norway)
- Raytheon Company (US)
- Elbit Systems Ltd. (Israel)
- Saab AB (Sweden)
- BAE Systems plc (UK)
- Wuhan JOHO Technology Co., Ltd (China)
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Global Tactical Optics Market: Research Scope
- Global Tactical Optics Market, by Application
- Intelligence, Surveillance & Reconnaissance (ISR):
- Target Acquisition & Identification
- Search & Rescue
- Border & Coastal Patrol
- Global Tactical Optics Market, by Product
- Weapon Scopes & Sights
- Handheld Sighting Devices
- Cameras & Displays
- Night Vision Scopes
- Global Tactical Optics Market, by Platform
- Global Tactical Optics Market, by End-use
- Manned Platform
- Weapon Mounted
- Unmanned Platform
- Global Tactical Optics Market, by Range
- Medium range
- Global Tactical Optics Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- North Africa
- Rest of Middle East & Africa
- North America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.