Adaptive Optics Technology Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Component (Control System, Wavefront Modulator, Wavefront Sensor), By Industry Verticals (Astronomy, Healthcare, Manufacturing, Defense, Communication And Technology, Consumer Electronics), And By Geography - Forecasts From 2022 To 2027
- Published : Nov 2022
- Report Code : KSI061610523
- Pages : 110
The adaptive optics technology market is projected to witness a CAGR of 27.48% during the forecast period to reach a market size of US$3,842.772 million by 2027, increasing from US$702.417 million in 2020.
Adaptive optics is a technology that finds its usage in astronomy to enhance optical system performance by diminishing the effect of distortions in the wavefront. In the tumultuous atmosphere of Earth, for example, atmospheric radiation from faraway stars or galaxies is bent, making it impossible for telescopes to generate a clean, exact image and negating the twisted impact of the atmosphere. For astronomical observation, adaptive optics should have a bright reference star that is extremely close to the object selected for the study.
The reference star is utilized to assess the distortion caused by the earth's atmosphere for the deformable mirror to correct it. Astronomers can create fake stars at night when there aren't any suitable stars in the sky somewhere by firing a strong laser beam into the earth's outer atmosphere. Other than astronomy, adaptive technology systems are widely used in various fields, including such as optical communication, laser beam shaping, laser countermeasures, and ophthalmology and vision science. The global market for adaptive optics technology is being driven by rising demand for this technology across several business verticals. Furthermore, with advancements in technology, various components are being produced at a lower cost, thereby driving the demand for the products using this technology. On the contrary, the regulatory framework related to the use of powerful laser beams has been declared illegal by several countries due to security issues and could hinder the market growth.
Geographic Outlook
Geographically, the global adaptive optics technology market will be driven by North America and Asia Pacific region. The North American market will grow on account of the widespread deployment of this technology across various industry verticals such as defense and security, astronomy, and healthcare, among others. The defense and security system mechanism of the US uses this technology for its airborne and ground-based missile defense systems, and it is estimated that this will surge further due to increased defense spending. The Asia Pacific will also drive the market for global adaptive optics technology due to the rise in research and development activities as well as technical improvements being made in the field of adaptive optics technology.
Key Developments
- January 2020: As per the press release by NSF in January 2020, NSF announced that the first image that utilized adaptive optics to correct for the blurring effect caused by Earth's atmosphere was produced by the newest AO-based telescope from the National Science Foundation (NSF), the Inouye Solar 4-meter Telescope.
- July 2019: As per the press release by Imaging optics in July 2019, the company had modified a plenoptic imaging approach that is powered by adaptive optics systems. Imaging Optics company went into partnership with the EU-funded VOXEL for a project to develop a novel way to provide 3D imaging without significant doses of X-rays.
Impact of COVID-19 on Adaptive Optics Technology Market
COVID-19 was an incomparable global emergency that affected almost every industry, and the long-term effects were projected to impact industry growth during the forecast period. COVID-19 led to changes in consumer behaviour and demand, purchasing patterns, re-routing of the supply chain, dynamics of current market forces, and the significant interventions of governments, and all of these factors negatively impacted the market. The closing of numerous plants and factories had a detrimental influence on the production, delivery schedules, and sales of goods on the international market. Few businesses warned about potential delivery delays and a decline in future sales of their goods. Additionally, the chances for commercial relationships and collaborations were also impacted by the international travel bans implemented by nations in Europe, Asia-Pacific, and North America.
Adaptive Optics Technology Market Scope:
Report Metric | Details |
Market Size Value in 2020 | US$702.417 million |
Market Size Value in 2027 | US$3,842.772 million |
Growth Rate | CAGR of 27.48% from 2020 to 2027 |
Base Year | 2020 |
Forecast Period | 2022–2027 |
Forecast Unit (Value) | USD Million |
Segments Covered | Component, Industry Verticals, And Geography |
Regions Covered | North America, South America, Europe, Middle East and Africa, Asia Pacific |
Companies Covered | Iris, Baker Adaptive Optics, Boston Micromachines Corporation, Northrop Grumman, Thorlabs, Inc, HOLOEYE Photonics AG, Adaptica |
Customization Scope | Free report customization with purchase |
Segmentation
The adaptive optics technology market has been segmented based on components, industry verticals, and geography as follows:
- By Component
- Control System
- Wavefront Modulator
- Wavefront Sensor
- By Industry Verticals
- Astronomy
- Healthcare
- Manufacturing
- Defense
- Communication and Technology
- Consumer Electronics
- By Geography
- Americas
- North America
- South America
- Europe Middle East and Africa
- Europe
- The Middle East and Africa
- Asia Pacific
- Americas
Frequently Asked Questions (FAQs)
1. INTRODUCTION
1.1. Market Overview
1.2. COVID-19 Scenario
1.3. Market Definition
1.4. Market Segmentation
2. RESEARCH METHODOLOGY
2.1. Research Data
2.2. Assumptions
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter's Five Force Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Global Adaptive Optics Technology Forecast by Component
5.1. Introduction
5.2. Control System
5.3. Wavefront Modulator
5.4. Wavefront Sensor
6. Global Adaptive Optics Technology Forecast by Industry Vertical
6.1. Introduction
6.2. Astronomy
6.3. Healthcare
6.4. Manufacturing
6.5. Defense
6.6. Communication and Technology
6.7. Consumer Electronics
7. Global Adaptive Optics Technology Forecast by Geography
7.1. Introduction
7.2. Americas
7.2.1. North America
7.2.2. South America
7.3. Europe Middle East and Africa
7.3.1. Europe
7.3.2. Middle East and Africa
7.4. Asia Pacific
8. COMPETITIVE ENVIRONMENT AND ANALYSIS
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. COMPANY PROFILES
9.1. Iris
9.2. Baker Adaptive Optics
9.3. Boston Micromachines Corporation
9.4. Northrop Grumman
9.5. Thorlabs, Inc
9.6. HOLOEYE Photonics AG
9.7. Adaptica
Iris
Baker Adaptive Optics
Boston Micromachines Corporation
Northrop Grumman
HOLOEYE Photonics AG
Adaptica
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