Multispectral cameras are imaging devices that capture information beyond the visible light spectrum. This suggests that it has the ability to perceive things that are invisible to human vision, such as infrared and ultraviolet wavelengths. This makes the camera usable for a wide range of defense-related applications, including target and tracking, navigation and guiding, intelligence, surveillance, and reconnaissance.
Russia, Germany, the UK, France, and Italy are among the European nations whose military spending increased in 2022 compared to 2021. The military's increased spending has led to a surge in the purchase of cutting-edge integrated aerial, ground, and marine vehicles. This has raised manufacturer demand for multispectral cameras, which has fostered the expansion of the market over time. The need for multispectral cameras is also growing throughout the region due to the growing need for security and cross-border surveillance, which is driving the market expansion.
The COVID-19 has caused supply chain and production process disruptions, which have affected the multispectral camera industry in Europe. The dynamics of the market have been impacted by fluctuating demand and economic uncertainty. The defense industry's increased investment in the purchase of aerial, land, and marine vehicles for its defense personnel allowed the market to quickly gain traction despite obstacles.
The Europe multispectral camera market is segmented into cooling technology, end use, imaging spectrum, application, and platform. On the basis of cooling technology, the market is bifurcated into cooled and uncooled. On the basis of end use the market is segmented into man-portable and payloads. On the basis of imaging spectrum, the market is categorized into visible/near-infrared (VNIR), short-wave infrared (SWIR), mid-wave infrared (MWIR), and long-wave infrared (LWIR). On the basis of application, the market is divided into intelligence, surveillance, and reconnaissance; target and tracking; navigation and guidance; and others. On the basis of platform, the market is segmented into land, air, and marine. On the basis of country, the Europe multispectral camera market trends are analyzed across the UK, Germany, France, Russia and the Rest of Europe.
Country-wise, Germany acquired a prime share in the Europe multispectral camera market and is expected to grow at a significant CAGR during the forecast period.
The Europe multispectral camera market is expected to witness notable growth owing to the presence of large number of multispectral camera manufacturers such as Teledyne Digital Imaging Inc.; Leonardo DRS; Raytheon Technologies Inc (Collins Aerospace) L3Harris Technologies, Inc; Kappa optronics GmbH; Surface Optics Corporation and their consistent investment in developing new product. Additionally, the rise in investment by army across countries like UK, Germany and Israel in the procurement of advanced multispectral cameras is further contributing to the growth of the market.
The Europe multispectral camera market is highly competitive, owing to the strong presence of existing vendors. Vendors of the Europe multispectral camera market with extensive technical and financial resources are expected to gain a competitive advantage over their competitors because they can cater to market demands. The competitive environment in this market is expected to worsen as technological innovations, product extensions, and different strategies adopted by key vendors increase.
Competitive analysis and profiles of the major Europe multispectral camera market players that have been provided in the report include Teledyne Digital Imaging Inc.; Leonardo DRS; Raytheon Technologies Inc (Collins Aerospace); HENSOLDT AG; SILIOS Technologies; JAI A/S, Telops Inc; L3Harris Technologies, Inc; Kappa optronics GmbH; Surface Optics Corporation. The key strategies adopted by the major players of the Europe multispectral camera market are product launch and mergers & acquisitions.
Key Developments & Strategies
- In December 2023, The French Army awarded Airbus Defense and Space a €90 million deal to deliver its EUROFLIR 410M multispectral targeting pods for use on Tiger attack helicopters. With their high-resolution visible and infrared imagers, these pods can identify targets and improve situational awareness in a variety of settings.
- In October 2023, for its LEOSS-T (Lightweight Electro-Optical Surveillance System) observation pods for A129D Mangusta attack helicopters, Leonardo DRS was awarded a €28 million contract by the Italian Army. These pods combine laser rangefinders and multispectral sensors to enhance target tracking and acquisition.
- In December 2023, EUROFLIR 410M/Airbus Defence and Space: The French Army's Tiger attack helicopters are equipped with this multispectral targeting pod, which was unveiled in December 2023. Its high-resolution visible and infrared imagers cut through difficult situations and identify threats with razor-sharp accuracy.
KEY BENEFITS FOR STAKEHOLDERS
- This study comprises analytical depiction of the Europe multispectral camera market size along with the current trends and future estimations to depict the imminent investment pockets.
- The overall Europe multispectral camera market analysis is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current Europe multispectral camera market forecast is quantitatively analyzed from 2022 to 2032 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the smart display.
- The report includes the market share of key vendors and Europe multispectral camera market.
Europe Multispectral Camera Market Report Highlights
| Aspects | Details |
 Market Size By 2032 | USD 1.3 billion |
 Growth Rate | CAGR of 9.6% |
 Forecast period | 2022 - 2032 |
 Report Pages | 116 |
 By Cooling Technology |
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 By End Use |
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 By Imaging Spectrum |
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 By Application |
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 By Platform |
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 By Country |
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 Key Market Players | BaySpec Inc., Jena-Optronik GmbH, Airbus Defence and Space, XIMEA GmbH, Teledyne Technologies Inc., Sagem Defence and Security, Leonardo S.p.A., Thales Group, Leica Geosystems AG, Knight Optical Ltd. |
The Europe Multispectral Camera Market is projected to grow at a CAGR of 9.58% from 2022 to 2032
Airbus Defence and Space, Thales Group, Leonardo S.p.A., Jena-Optronik GmbH, Teledyne Technologies Inc., Leica Geosystems AG, Sagem Defence and Security, Knight Optical Ltd., BaySpec Inc., XIMEA GmbH are the leading players in Europe Multispectral Camera Market
1. The report provides a comprehensive analysis of the current market estimations through 2022-2032, which would enable the stakeholders to capitalize on prevailing market opportunities. 2. Major countries are mapped according to their revenue contribution to the europe multispectral camera market. 3. In-depth analysis of the europe multispectral camera market segmentation assists to determine the prevailing market opportunities. 4. Identify key players and their strategic moves in europe multispectral camera market. 5. Assess and rank the top factors that are expected to affect the growth of europe multispectral camera market. 6. Analyze the market factors in various countries and understand business opportunities. 7. Player positioning provides a clear understanding of the present position of key market players.
Europe Multispectral Camera Market is classified as by cooling technology, by end use, by imaging spectrum, by application, by platform
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