The European market research firm Frost and Sullivan says the market for land-based optronics will be valued at around $30.77 billion by 2016 and that defense optronics is a growing market.
Frost and Sullivan issued a report—“Land-based Optronics Market”—that forecast the growth in defense optronics because of an increase in European and U.S. land vehicle procurement programs driven by NATO operations in Afghanistan.
“The land-based optronics market is perceived as being only marginally affected by reductions in defense spending,” said Balaji Srimoolanathan, Frost and Sullivan’s program manager.
“Although soldier hand-held and man-portable optronics devices will be procured in large numbers, the majority of revenues will be generated by vehicle-mounted/integrated optronics solutions,” he said.
Reconnaissance, surveillance and target acquisition have become a critical part of the military’s capability to ward off potential threats from a variety of sources. Therefore Land-based optronics solutions will enjoy precedence over air- and navy-based optronics solutions in the near future due to existing NATO operations in Afghanistan, according to Srimoolanathan.
In addition, “there will be high demand for navigation and surveillance equipment for reconnaissance and armed personnel vehicles from the emerging economies like India, Brazil, Russia, South Korea and others who are involved in huge fleet modernization processes,” he said.
Further, a number of countries in Europe use image intensification binoculars/monoculars for surveillance. YET Investments in thermal imaging technology have NOT been significant, according to Frost and Sullivan.