The adaptive optics market was valued at USD 218.8 Million in 2016 and is expected to reach USD 2,190.9 Million by 2023, growing at a CAGR of 40.8% from 2017 to 2023. The base year used for this study is 2016 and the forecast period is from 2017 to 2023.
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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 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 adoption of adaptive optics in ophthalmology and retinal imaging is propelling the growth of the adaptive optics market.
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Increased government funding and advanced adaptive optics technology are further driving the growth of the adaptive optics market.
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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).
AOX offers laser beam control systems and adaptive optical systems for defense (laser communications; directed energy; and Intelligence, Surveillance, and Reconnaissance (ISR)), industrial (freight logistics and semiconductor), scientific (astronomy), and commercial applications. AOX’s adaptive optics solutions include adaptive optical systems, deformable mirrors, wavefront sensors, drive electronics, and actuators.
Deployment of its adaptive optics products in new markets is the key growth strategy adopted by the company in the recent years. For instance, in June 2017, AOX received a sole-source contract for providing mission-critical optical technology to WFIRST coronagraph instrument.
WFIRST is a future infrared space observatory developed by National Aeronautics and Space Administration (NASA), US. The contract is valued at USD 1.9 million, under which AOX is expected to fabricate the module that will be used as technology demonstrations for the adaptive optics systems.
Thorlabs, Inc. is among the key players involved in the development of adaptive optics products. It is a vertically integrated photonics product manufacturer and primarily serves laser and electro-optics markets.
Thorlabs has ~20,000 products in its entire portfolio, and 90% of these products are fully developed by the company. The company has a strong business channel and has a significant number of internal distributors and partners.
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