Adaptive Optics Market Share 2020 - Current and Future Plans 2023
Market overview
The global adaptive optics market 2020 was valued at USD 215.7 million in 2017 and is expected to reach USD 1.8 billion in 2023, with a substantial CAGR of 31.3%, according to a new research report by MRFR.
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Key Players
The global adaptive optic market players, as identified by MRFR are Aplegen Inc. (U.S.), Benchmark Electronics Inc. (U.S.), Boston Micromachines Corporation (U.S.), Phasics Corp. (France), Holoeye Photonics AG (Germany), Thorlabs Inc. (U.S.), Northrop Grumman Corporation (U.S.), Adaptive Optics Associates Inc. (U.S.), Synopsys Optical Solution Group (U.S.), Sacher Lasertechnik Gmbh (Germany). Other players in the adaptive optics market include Iris AO Inc. (U.S.), Adaptica S.r.l. (Italy), Active Optical Systems LLC (U.S.), Teledyne e2v (U.K.) Ltd (U.K.), Flexible Optical B.V. (Netherlands), Imagine Optic S.A. (France), Edmund Optics Inc. (U.S.).
Drivers and Restraints
One of the key growth factors driving the adaptive optics market includes the growing investment in optical solutions and advanced optics research and development. In addition, the increasing demand for adaptive optics in the healthcare sector and the expanded use of adaptive optics in applications such as astronomy, aerospace, and cellular imaging are accelerating market development.
Adaptive optics provide real-time image corrections and likely provide sharper imagery. This has a major influence on various vertical facets of the industry such as aerospace & defense, industrial engineering, healthcare, and many others. Using A.O .. Technology and its various advantages are incredibly useful because they include minute information in these verticals of the industry. Growing investment in research and development between the various verticals of the industry is expected to have a major effect on the sector. A major growth factor is the demand for high-resolution imagery for higher science learning purposes, as well as increasing work in the healthcare field. In addition, the growing use of adaptive optics in applications like astronomy and aerospace is also promoting market development.
Designs that incorporate adaptive optics are extremely complex and require a high degree of expertise, which is somewhat lacking, thereby restricting growth in the market. In addition, the high initial cost of investment is projected to adversely affect the market. Nonetheless, the momentum that continues in the A.O. Technology and the need for clear and accurate photos are expected to expose opportunities in the years ahead.
Segmental Analysis
By component, the market is segmented into wavefront sensors, mirrors, wavefront modulator, control systems, and others. By type, the market is segmented into multi-object adaptive optics (MOAO),natural guide star adaptive optics (NGAO), multi-conjugate adaptive optics (MCAO), laser guide star adaptive optics (LGAO), ground-layer adaptive optics (GLAO). By the end-user, the global market is segmented into healthcare, military & defense, manufacturing, consumer electronics, I.T. & telecommunication, and others.
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Regional Analysis
Based on the region, the market is segmented into North America, Europe, Asia-Pacific, and the rest of the world.
Among these regions, North America is dominating the market due to the extensive application scope of adaptive optics in various industries. In North America, countries like the U.S. and Canda win the substantial market share due to ongoing developments in optics and related technologies. These countries are considered to be the early adopters in North America and internationally of adaptive optics solutions. With its high military budgets and well-developed industrial military infrastructure, the United States continues to use techniques such as adaptive optics, along with other applications, to develop high-energy laser systems. American spending on defense is expected to remain very high, and it is expected to drive the advancement of modern defense technologies through adaptive optics.
On the other hand, Europe closely follows North America in the adoption of adaptive optic solutions. Many corporations in Europe are investing and partnering with leading optics enterprises to have an integrated solution with their product line-up. Adaptive optics offers a potential opportunity for various enterprises, industries, and governments in Europe.
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