The tactical optics market size is projected to grow from USD 9.7 billion in 2020 to USD 13.0 billion by 2025, at a CAGR of 6.1% from 2020 to 2025. The market growth can be attributed to the increase in soldier count in emerging economies and ongoing upgrades to existing systems in developed countries.
Kongsberg Gruppen AS (Norway), Raytheon Company (US), Elbit Systems Ltd. (Israel), Saab AB (Sweden), and BAE Systems plc (UK), Sig Sauer, Inc. (US), Vortex Optics (US), Bushnell Corporation (US), and Leupold & Stevens, Inc. (US) are some of the leading players operating in the tactical optics market. These players have adopted various organic and inorganic growth strategies, such as contracts, new product launches, acquisitions, partnerships, collaborations, and research & development (R&D) activities, to strengthen their position in the market.
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BAE Systems plc is the leader in the tactical optics market. The company has one of the broadest product portfolios, for land, naval, and airborne applications. It is one of the few companies offering advanced head-up displays for fighter pilots, for which it has secured multiple supply contracts. The company also provides products for dismounted soldiers. Its advanced products include thermal imaging systems, handheld precision targeting solutions, and precise rangefinding instruments.
Elbit Systems Ltd. comes in second in the tactical optics market. The company also has a broad portfolio of tactical optics, for dismounted soldiers, fighter pilots, and multiple platforms. Its products lean heavily toward target acquisition, surveillance, and reconnaissance. The company has secured multiple contracts for the supply of electro-optic equipment for infantry soldiers.
Sig Sauer, Inc. is the leader in the tactical optics market for scopes and sights for dismounted soldiers. The company has one of the broadest product portfolios, offering eight different tactical optics and 33 product series. Moreover, the company has a strong global online distribution chain, with approximately 28 different online retail partners. Its wide geographic spread covers North America, Europe, Asia Pacific, the Middle East, and South America. The company’s products have advanced features such as ballistics calculation and connectivity via Bluetooth. The company offers thermal and digital scopes as well.
Tactical Optics Market by Product (Weapon Scopes & Sights, Handheld Sighting Devices, Cameras & Displays), Platform, Application (ISR, Target Acquisition & Identification, Border & Coastal Patrol), End Use, Range, and Region - Global Forecast to 2025
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