Target acquisition systems are multi-use weapon systems that are used for identification, location & detection of the target to permit the effective employment of lethal & non-lethal weapons. Target includes a wide array of resource that an enemy commander can use to conduct operations including mobile and stationary units, forces, equipment, capabilities, facilities, persons, and functions. Target acquisition can be considered as the process of a weapon system to decide which object to lock on to, as opposed to surveillance on one and target tracking. Target acquisition system can be categorized into land, airborne, and naval target acquisition system. Naval target acquisition system is a detection, tracking, identification, threat evaluation, and weapon assignment system, which is designed to use against high-speed, small cross-section targets which approach the ship either from over-the-horizon at very low altitudes or from very high altitudes at near vertical angles.
COVID-19 Scenario analysis:
- Due to COVID-19 situation, the research & development in naval target acquisition system industries across the globe has been hampered due to the declared lockdowns and government restrictions on public gatherings.
- Production rate of naval target acquisition system has been hampered due to COVID-19 pandemic.
- Supply chain of spare parts of naval target acquisition systems has also been negatively affected due to temporarily closing down of several defense industries.
- There will be considerable rise in demand in global naval target acquisition system market in near future as world is moving toward normalcy.
- Post COVID-19, the naval target acquisition system market can see a significant growth as several countries have either already ordered or planning to procure such systems for their forces.
Top impacting factors: market scenario analysis, trends, drivers and impact analysis
Advancements in automatic weapons, increasing defense expenditure of countries, rising demand for maritime security, and ongoing military modernization programs worldwide are some of the major factors that drive the global naval target acquisition systems market. However, the high operational cost of target acquisition systems is hampering the growth of the naval target acquisition systems market. On the contrary, growing investment in the research & development (R&D) sector for the development of technologically advanced systems for defense applications is expected to contribute further in the growth of the global naval target acquisition systems market.
Rising demand for maritime security
Naval forces face several challenges in maritime security such as human trafficking, drugs supply, terrorism etc. Such threats increase the importance of maritime security. Therefore, in such kind of situation, the naval target acquisition systems help the naval troops by providing the intelligence, and improving the efficiency of weapons. Hence, the demand for naval target acquisition systems is also increasing. For instance, in December 2018, USA navy signed the contract of worth 40 million USD with Raytheon (a defense contractor company) for repair of the multi spectral targeting systems of the H-60 aircraft. Hence, the rising demand for maritime security is driving the global naval target acquisition systems market.
Key benefits of the report:
- This study presents the analytical depiction of the global naval target acquisition systems industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global naval target acquisition systems market share.
- The current market is quantitatively analysed to highlight the global naval target acquisition systems market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global naval target acquisition systems market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the naval target acquisition systems market research report:
- Which are the leading market players active in the global naval target acquisition systems market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
Naval Target Acquisition Systems Market Report Highlights
| Aspects | Details |
 By Sub System |
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 By Platform |
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 By End Use |
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 By Range |
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 By Region |
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 Key Market Players | Lockheed Martin, Northrop Grumman, Raytheon Technologies, Saab, Honeywell, BAE Systems, Vox populi, Thales Group, Rheinmetall, Kongsberg Maritime |
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