Tactical optics refer to optical equipment and systems utilized in military applications. It helps the shooter, pilots, or soldiers to see beyond the scope of their regular vision as they have a low magnification range. Moreover, these optical devices are lightweight, compact & effective, and may be mounted on military aircraft, vehicles, and weapons, assuring the safety of pilots & soldiers. Tactical optics are further divided into two types which are telescopic sights and reflector sights. Telescopic sights often known as scopes, used for magnification to bring targets closer to the shooter, making it easier for the shooter to make a precision shot at a range beyond 200 meters. Reflector sights also known as reflex sights are optics that do not magnify the image of the target and use a single point of reference such as a red dot for exceptionally quick sight acquisition. Furthermore, a reflex is quite effective in close-quarter combat, especially against multiple targets and moving targets at ranges 100 – 150 meters. Tactical optics thus improves the capability of weapons with accurate aiming and better efficiency.
COVID-19 Impact Analysis:
Government across the all the major countries have announced a lockdown due to COVID-19 pandemic resulting in the halt of business. This has led to disruption in manufacturing of defense equipment. Moreover, due to the decline in economy and increase in focus on health budget, many countries have reduced their defense budget thus affecting the demand for tactical optics. Furthermore, due to the lockdown there was unavailability of raw materials required for manufacturing of tactical optics. Furthermore, due to social distancing & travelling restriction norms, there was unavailability of labor required for production of tactical optics. Defense is an evolving sector which had a slight setback due to the pandemic, but it is expected to recover and drive growth of tactical optics market post pandemic.
Top Impacting Factors
- Rise in demand for light weight tactical scopes for rifles, surge in demand for EO/IR cameras, and weapon modernization program across the globe drive the growth of the market.
- High cost and unavailability of technical expert to develop tactical optics equipment hinder the market growth.
- Rise in the purchase of tactical optics for vehicle platforms & dismounted soldiers, surge in demand for tactical scopes from military & defense, and increase in demand for new technology act as an opportunity for growth of the market.
Rise in demand for tactical scopes from military & defense
The rise in the threat of terrorist attacks has increased the rate of surveillance by the military & defense. Thus, military personnel use tactical scopes to keep an eye on the border since this scope can zoom into the far distance. These scopes also help in taking accurate rifle shots when required. Thus, these advantages of tactical optics have increased its demand in the military & defense sector. For instance, firearms manufacturer Sig Sauer Inc. was granted a contract worth $12 million by the U.S. SOCOM for the supply of its Electro-Optics TANGO6T 1-6×24 second focal plane (SFP) riflescope in January 2019. Furthermore, in 2020 Sig Sauer Inc. was chosen by the U.S. Army Contract Command, in a deal of $77 million to produce new scope for M4A1 Carbine rifles. Moreover, the U.S. defense contractor L3 won a $26.3 million contract to provide the U.S. military with its latest holographic weapon optics in January 2019. The rise in demand for tactical optics in military & defense act as an opportunity for growth of the tactical optics market.
Key Benefits of the Report:
- This study presents the analytical depiction of the tactical optics market 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 challenges of the tactical optics market.
- The current market is quantitatively analyzed to highlight the growth scenario of the tactical optics market.
- The report provides detailed tactical optics market analysis based on competitive intensity and the competition that will take shape in coming years.
Questions Answered in the Tactical Optics Market Research Report:
- Who are the leading market players active in the tactical optics market?
- What would be the detailed impact of COVID-19 on the market?
- What are the current trends that would influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the tactical optics market?
- What are the future projections that would help in taking further strategic steps?
Tactical Optics Market Report Highlights
By End User
Key Market Players
Kongsberg Gruppen AS, Leupold & Stevens Inc., Thales Group, Elbit Systems Ltd, Bushnell Corporation, Raytheon Company, Sig Sauer Inc, Saab AB, BAE Systems Plc, Vortex Optics