The global adaptive optics market is projected to grow at a significant CAGR of 39.7% during the forecast period. The market growth is mainly driven by technological development in optical technology coupled with the growing adoption of adaptive optics in ophthalmology and retinal imaging. Adaptive Optics (AO) systems are highly effective in correcting dynamic aberrations which have increased its applications in biomedical. In addition, its application in the aerospace & defense industry has gained traction for satellite imaging and free-space optical communication. Further, the companies that offer adaptive optics systems are collaborating with several defense contractors. For instance, Boston Micromachine Corporation has partnered with NASA, US Naval Research Laboratory, and others to offer optical systems in their projects.
Segmental Outlook
The global adaptive optics market is classified on the basis of component and application. Based on the component, the market is divided wavefront sensor, control system, and wavefront modulator. The wavefront sensor segment is projected to have a significant share in the market. On the basis of application, the market is segregated into consumer goods, astronomy, biomedical, military & defense, manufacturing, and others such as communication.
The consumer goods segment is projected to have significant growth during the forecast period owing to the rising application of adaptive optics in various consumer goods products such as camera lenses, a head-up display, and other imaging applications. Moreover, the increasing demand for cost-effective adaptive optics and alternative systems coupled with the growing consumer goods industry propels market growth.
Global Adaptive optics Market Share by application, 2018(%)
Global Adaptive Optics Market to be Driven by the Military & Defense Industry
The military & defense segment is projected to contribute significant share in the market due to the high usage of adaptive optics in various military & defense weapons and advanced guidance systems. The adaptive optics technology is widely accepted in improving the direct energy weapon's effectiveness. In addition, the increasing adoption of advanced technology in the military & defense industry coupled with the increasing defense expenditure further contributes to the segmental growth of the market.
The defense sector is emerging considerably across the globe due to significant funding in the form of official budgets and ongoing investments by the governments. The countries are supporting the defense expenditure with huge budget sanctions which as a result is propelling the adoption of advanced technology by military organizations under the defense protocols.
Regional Outlook
Geographically, the global adaptive optics market is further classified into North America, Europe, Asia-Pacific and the Rest of the World. Asia-Pacific is estimated to have considerable market growth in the global market during the forecast period. The market growth is attributed to the increasing demand for adaptive optics in the consumer goods industry and the medical industry. The consumer goods industry has significant growth in emerging economies such as India, China, and others due to the large population in these countries.
Global Adaptive optics Market Growth, by Region 2019-2025
1. Report Summary
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Geography
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
2.3. Rules & Regulations
3. Competitive Landscape
3.1. Company Share Analysis
3.2. Key Strategy Analysis
3.3. Key Company Analysis
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
4. Market Determinants
4.1. Motivators
4.2. Restraints
4.3. Opportunities
5. Market Segmentation
5.1. Global Adaptive Optics Market by Component
5.1.1. Wavefront Sensor
5.1.2. Control System
5.1.3. Wavefront Modulator
5.2. Global Adaptive Optics Market by Application
5.2.1. Consumer Goods
5.2.2. Astronomy
5.2.3. Biomedical
5.2.4. Military & Defense
5.2.5. Manufacturing
5.2.6. Others (Communication)
6. Regional Analysis
6.1. North America
6.1.1. United States
6.1.2. Canada
6.2. Europe
6.2.1. UK
6.2.2. Germany
6.2.3. Italy
6.2.4. Spain
6.2.5. France
6.2.6. Rest of Europe
6.3. Asia-Pacific
6.3.1. China
6.3.2. India
6.3.3. Japan
6.3.4. Rest of Asia-Pacific
6.4. Rest of the World
7. Company Profiles
7.1. Active Optical Systems, LLC
7.2. ALPAO, SAS
7.3. Benchmark Electronics, Inc.
7.4. Boston Micromachines Corp.
7.5. CILAS, a company of Ariane Group
7.6. Flexible Optical B.V.
7.7. HAMAMATSU Group
7.8. HOLOEYE Photonics AG
7.9. Imagine Optic SA
7.10. Iris AO, Inc.
7.11. LaVision BioTec GmbH
7.12. LT Ultra-Precision Technology GmbH
7.13. Meadowlark Optics, Inc.
7.14. MEMSCAP SA.
7.15. Northrop Grumman Corp.
7.16. OPTOCRAFT GMBH
7.17. Phasics SA
7.18. Teledyne e2v (UK) Ltd
7.19. Thorlabs, Inc.