The Europe military optronics surveillance & sighting systems market is anticipated to register a CAGR of 5.49% during the forecasted period of 2022 to 2030. The regional market’s growth is fortified by the surging geopolitical unrest among NATO countries and Russia, the growing number of refugees across European borders, and the rise in trade and political alliances.
The Europe military optronics surveillance & sighting systems market growth evaluation comprises the United Kingdom, Germany, Italy, Belgium, France, Spain, Poland, and Rest of Europe. France’s military is considered among the ’most capable’ across Western Europe. The country’s armed forces are also one of the nine nations globally with the potential to launch a nuclear strike owing to its five submarines capable of initiating nuclear missiles, as well as jets that can release nuclear bombs. Currently, the French army is working on developing a nuclear missile termed the M51, weighing 54 tonnes. Furthermore, the country plans to expend nearly ?41 billion on defense in the year 2022, as well.
On the other hand, the Spanish Socialist Party (PSOE)-Podemos government announced the highest increase in terms of military spending in history, equating to ?24 billion in 2022. This aspect is set to augment military expenditure by up to 2% of the country’s gross domestic product (GDP), indicating more than double the present spending. Therefore, the abovementioned factors are expected to facilitate the military optronics surveillance & sighting systems market growth in Europe over the forecasting years.
Eminent players operating in the market include Airbus SE, Hensoldt AG, Safran Group, Dassault Aviation SA, etc.
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