July 20, 2024

Growing defense budgets to boost the growth of Acousto Optics Devices Market

The global Acousto Optics Devices Market is estimated to be valued at US$ 503.1 Mn in 2023 and is expected to exhibit a CAGR of 7.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Acousto optics devices use the interaction of acoustic waves (sound waves) with optical waves (light waves) to diffract, deflect, modulate, switch or displace light. They find applications in telecommunications, spectroscopy, lasers, holography, and instrumentation. Acousto optics are compact, robust, drift-free and are used as optical modulators and deflectors in fiber optic and laser beam steering systems. They offer benefits such as contact-free manipulation of light beams, fast response time and scalability for high-power light beams.Growing demand for communication and networking systems is boosting the need for acousto optic devices in the market.

Market key trends:
One of the key trends in the acousto optics devices market is the emergence of 5G networks. 5G infrastructure requires fiber optic networks to accommodate its bandwidth needs, thereby increasing demand for fiber optic communication devices including acousto optic modulators and deflectors. Additionally, increasing defense budgets is also driving the market as acousto optic technology finds applications in defense and surveillance systems such as threat detection. Governments across regions are increasingly investing in defense capabilities which will contribute to the growth of the acousto optics devices market during the forecast period. Furthermore, technological improvements resulting in higher power handling capabilities, scalability and fiberization of acousto optic devices are expected to support the market growth.
Porter’s Analysis

Threat of new entrants: The threat of new entrants in the Acousto Optics Devices Market is low due to high technical expertise and R&D required.

Bargaining power of buyers: The bargaining power of buyers in the Acousto Optics Devices Market is moderate as there are a number of vendors operating in the market providing alternatives to buyers.

Bargaining power of suppliers: The bargaining power of suppliers is moderate as there exist a number of suppliers manufacturing components required for Acousto Optics Devices.

Threat of new substitutes: The threat of new substitutes for Acousto Optics Devices is low as limited options are available that can provide its functionalities.

Competitive rivalry: The competitive rivalry in the Acousto Optics Devices Market is high due to presence of major global as well as regional vendors.

Key Takeaways

The global Acousto Optics Devices Market is expected to witness high growth, exhibiting CAGR of 7.2% over the forecast period, due to increasing demand for advanced laser devices in applications such as telecommunications, electronics, and medical sector.

Regionally, North America accounted for the largest share of the global Acousto Optics Devices market in 2023. The growth of the market in the region can be attributed to the presence of major manufacturers and early adoption of new technologies across various industries. Asia Pacific is expected to be the fastest growing market for Acousto Optics Devices during the forecast period, owing to rising industrialization and infrastructural development in countries such as China and India.

Key players operating in the Acousto Optics Devices market are A·P·E Angewandte Physik & Elektronik GmbH, AA Opto Electronic, AMS Technologies AG, Brimrose Corporation of America, Coherent, Inc., Gooch & Housego PLC, Harris Corporation, Intraaction Corp., Isomet Corporation, and Lightcomm Technology Co., Ltd. AMS Technologies AG offers acousto-optic deflectors to achieve wavelength multiplexing, beam steering and Raman spectroscopic applications.