Report Overview
-
Request a Free Sample to learn more about this report
The global adaptive optics market size was USD 558.4 million in 2022. As per our research, the market is expected to reach USD 1943 million in 2028, exhibiting a CAGR of 23.1% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the adaptive optics market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
Adaptive optics is a technology used to improve the performance of optical systems, particularly in astronomical telescopes. It involves the use of a deformable mirror and a wavefront sensor to correct for distortions in the light caused by atmospheric turbulence.
The market is predicted to rise in the coming years, driven by increasing demand for high-resolution imaging and the development of new applications. The astronomical sector is one of the largest users of adaptive optics technology, and the demand for wavefront sensors, wavefront modulators, and control systems is prevalent in the market. Therefore, the adaptive optics market is a dynamic and rapidly growing sector with significant potential for innovation and growth.
COVID-19 Impact: Pandemic Halts the R&D Projects in Various Industries
The COVID-19 pandemic has had a significant impact on the global economy and has affected various industries, including the adaptive optics market. The pandemic has caused disruptions in the supply chain and manufacturing process, leading to delays in the production and delivery of adaptive optics technology.
The pandemic has also resulted in a slowdown in research and development activities in the industry. Several organizations have had to reduce their spending and prioritize essential operations, leading to delays in the development of new products and technologies. However, the market is expected to rise yet again as it has been witnessing a hike in demand for the technology in recent years.
Latest Trends
"Trend of Advancements in MEMS-based Technology Inflate the Market Outlook"
The market is a dynamic and speedily evolving industry with ongoing developments in technology and applications. One of the latest developments is advancements in MEMS-based adaptive optics. MEMS (micro-electro-mechanical systems) technology has enabled the production of smaller and more precise deformable mirrors, which are essential components of adaptive optics systems. Recent developments in MEMS-based adaptive optics have resulted in more compact and affordable systems.
Furthermore, in July 2019 - With the help of adaptive optics systems, Imaging Optics developed an innovative way to achieve three-dimensional imaging without X-ray radiation in collaboration with the EU-funded VOXEL project.
Segmentation
-
Request a Free Sample to learn more about this report
- By Type Analysis
According to type, the market can be bifurcated into Wavefront Sensor, Wavefront Modulator, Control System, and Others.
- By Application Analysis
Based on application, the market can be divided into Consumer, Astronomy, Military & Defense, Biomedical, Industrial & Manufacturing, Communication, Others.
Driving Factors
"Surge in Demand for High-Resolution Imaging in Many Applications to Elevate the Market Growth"
Increasing demand for high-resolution imaging is one of the main driving factors of the market. There is a growing demand for high-resolution imaging in various applications, including astronomy, biomedical imaging, and industrial manufacturing. Adaptive optics technology enables the production of sharper and clearer images, making it an essential technology in these fields which is attributed to fuel the demand for the technique in several industries.
"Defense and Security Applications Fuel the Demand for the Technique in the Market"
Another driving factor of the market is the growing demand for defense and security applications. Adaptive optics technology is being increasingly used in defense and security applications, such as missile tracking, surveillance, and laser communications. Consequently, the growing demand for these applications is directly supporting the adaptive optics market growth throughout the forecast period.
Restraining Factors
"High Cost and Complexity Can Restrict the Growth of the Market"
The restraining factors in the adaptive optics market are primarily related to cost, complexity, and competition from alternative technologies, which can hamper the growth of the market during the projection timeframe. As adaptive optics technology can be complex and requires specialized expertise to operate and maintain that can limit its adoption in some industries where there is a shortage of qualified personnel. However, continued innovation and advancements in technology could help to overcome these challenges and drive growth in the market.
Regional Insights
-
Request a Free Sample to learn more about this report
"North America leads the Market due to the Presence of Leading Manufacturers and Research Institutions"
According to market research, North America is currently the leading region in the market, primarily driven by the presence of leading manufacturers and research institutions in the region. In addition, the U.S. is the largest market in North America, with a significant demand for adaptive optics technology in applications such as astronomy, defense, and biomedical imaging. The presence of leading adaptive optics manufacturers, such as Boston Micromachines Corporation and Northrop Grumman, further strengthens the market in the region.
Key Industry Players
"Key Players' Emphasis on Gain Technological Expertise to Maintain their Position in the Market"
With regard to key players, prominent companies dominate the adaptive optics market, in terms of revenue. They are large, established companies with significant expertise in the field. These companies typically have a strong market presence, advanced technological capabilities, and a broad product portfolio, which enables them to address the diverse needs of customers across various industries. Moreover, these companies invest heavily in research and development to develop innovative products and technologies that meet the evolving needs of the market. This enables them to maintain their market leadership and stay ahead of the competition. Some of the major companies in the market are; Teledyne e2v, Northrop Grumman, Thorlabs, Iris AO, Adaptica Srl, Active Optical Systems, Flexible Optical, Imagine Optic, Boston Micromachines Corporation, Phasics Corp, Benchmark Electronics, HoloEye Photonics, and others. The top five companies hold the majority of the adaptive optics market shares globally.
List of Market Players Profiled
- Teledyne e2v
- Northrop Grumman
- Thorlabs
- Iris AO
- Adaptica Srl
- Active Optical Systems
- Flexible Optical
- Imagine Optic
- Boston Micromachines Corporation
- Phasics Corp
- Benchmark Electronics
- HoloEye Photonics
- IRIS
- Aplegen
- Olympus
- Raytheon
- Canon
- Carl Zeiss Meditec
- Celestron
- Adaptive Optics Associates
- Bakers Adaptive Optics
- ADAPTIVE EYECARE LIMITED
- Synopsys Optical Solution Group
- SCHOTT North America
- Sacher Lasertechnik
Report Coverage
This report defines the adaptive optics market. It emphasizes the market value, expected CAGR, and USD value over the forecast period, before and after the impact of the COVID-19 pandemic restrictions on the international market, and how the industry is going to turn the corner is also stated in the report. The report provides significant market data with its product type and product applications, end-use details, and an idea of the market growth in the future. This report also provides an understanding of the growing market trends and developments and their effects on the market growth, driving factors along with restraining factors that impact the market dynamics. Along with this, the leading region, key players of the market, and their tactics to beat the market competition, sustainable policies, their collaboration, mergers, companies’ profile, previous years’ revenue, profit & loss, and market position based on their share value in the market, are also explained in the report.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 558.4 Million in 2022 |
Market Size Value By |
US$ 1943 Million by 2028 |
Growth Rate |
CAGR of 23.1% from 2022 to 2028 |
Forecast Period |
2022-2028 |
Base Year |
2022 |
Historical Data Available |
Yes |
Segments Covered |
Type and Application |
Regional Scope |
Global |
Frequently Asked Questions
-
What value is the global adaptive optics market expected to touch by 2028?
The global adaptive optics market is expected to touch USD 1943 million by 2028.
-
What CAGR is the adaptive optics market expected to exhibit during 2022-2028?
The adaptive optics market is expected to exhibit a CAGR of 23.1% over 2022-2028.
-
What are the key driving factors of the adaptive optics market?
Increasing demand for high-resolution imaging and growing demand for the technique in defense and security applications is the driving factor of the adaptive optics market.
-
What are the key players in the adaptive optics market?
Teledyne e2v, Northrop Grumman, Thorlabs, Iris AO, Adaptica Srl, Active Optical Systems, Flexible Optical, Imagine Optic, Boston Micromachines Corporation, Phasics Corp, Benchmark Electronics, HoloEye Photonics, IRIS, Aplegen, Olympus, Raytheon, Canon, Carl Zeiss Meditec, Celestron, Adaptive Optics Associates, Bakers Adaptive Optics, ADAPTIVE EYECARE LIMITED, Synopsys Optical Solution Group, SCHOTT North America, and Sacher Lasertechnik are the top players in the adaptive optics market.