Adaptive optics is a technology finds that primarily finds its application in astronomy to enhance optical system performance by reducing the effect of distortions in the wavefront.
According to the report, the Adaptive Optics Technology Market is projected to increase at a CAGR of 30.73% to reach the market size of US$5240.584 million by 2025 from US$1049.852 million in the year 2019. The correction for the aberration that would otherwise affect the resolution and contrast of microscopic images through the means of adaptive optics. Otherwise it, in turn, limits the depth at which an image is obtained. The increasing investments in R&D activities related to the developments of advanced optical systems are expected to drive the growth of this market. Furthermore, the low price of adaptive optical components is further aiding the increase in demand. The technological advancements have made these products available at the low prices which allows a greater number of consumers like small observatories to purchase such products for growth investments and participation in a variety of astronomical research. Moreover, the rising integration of technological advancements in ophthalmology is one of the major factors that is driving the growth of this market. The rising adoption is due to the benefits such as enabling the visualization of photoreceptors, blood vessels, and details of the optic nerve head that are extended by adaptive optics. Furthermore, these products are used in the retinal imaging for the flood illumination and production of clear & high-quality images that allow the discrimination of cones.
Under the rising global defense budget, investments in militaryand defense research and development are also one the major factors that are set to the bolster the growth of the adaptive optics market, due to its increased usage in various R&D activities, which are carried out by various military research labs around the world. Moreover, the need for technically advanced telescope systems to surveil on suspicious activities conducted by neighboring countries is also set to boost the growth of component demand. The five biggest spenders in 2018 were the United States, China, Saudi Arabia, India, and France, which collectively accounted for 60 % of global military spending. Military spending by the USA increases for the first time since 2010. The total global military spending in 2018 was at the highest level since 1988. This higher level is mainly contributed by the spending of the US and China. With regard to Asia, military spending stood at the tune of $507 billion that accounted for 28 percent of the total global military spending (Source: The SIPRI Military Expenditure Database).
The major players covered as part of the report are Adaptica, Baker Adaptive Optics, Boston Micromachines Corporation, HOLOEYE Photonics, Iris, Northrop Grumman Corporation and Phasics, among others.
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In this report the Adaptive Optics Market has been segmented on the basis of the following: