“Adaptive Optics Market by Component (Wavefront Sensor, Wavefront Modulator, Control System), End-User Industry (Consumer, Astronomy, Military & Defense, Biomedical, Industrial & Manufacturing, Communication), and Geography – Global Forecast to 2023″
The overall adaptive optics market is expected to be worth USD 2,190.9 Million by 2023, growing at a CAGR of 40.8% from 2017 to 2023. The growing adoption of adaptive optics technology across various end-user industries is the key factor propelling the growth of the adaptive optics market. Following this, the need for corrective eyewear, increased government funding, and advancing adaptive optics technology further drive the growth of the adaptive optics market.
Northrop Grumman Corporation (US) and Thorlabs, Inc are the Important Player in the Adaptive Optics Market
Adaptive optics system measures the irregularities introduced by the media between an object of interest and its image with a wavefront sensor, and calculate the correction with the control system. Typically, a device such as a deformable mirror or liquid crystal array is used to correct the aberrations of an incoming wavefront.
The adoption of adaptive optics in ophthalmology and retinal imaging is propelling the growth of the adaptive optics market. Increased government funding and advanced adaptive optics technology are further driving the growth of the adaptive optics market.
The adaptive optics market is gaining momentum as of result of organic as well as inorganic growth strategies followed by the players operating in this market. Product launch is the most prominent growth strategy adopted by the players in the adaptive optics market. Moreover, the strategy of product and market development is also adopted by the companies in the market. The key players following these strategies are Thorlabs, Inc. (US), Teledyne e2v (UK) Ltd., Flexible Optical B.V. (Netherlands), NORTHROP GRUMMAN CORPORATION (US), Iris AO, Inc. (US), Adaptica S.r.l. (Italy), and Boston Micromachines Corporation (US).
NORTHROP GRUMMAN CORPORATION (US) was an important player in the adaptive optics market in 2016. For the adaptive optics market, the company operates through its wholly-owned subsidiary, Adaptive Optics Associates – Xinetics (AOX).
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