Jul 24, 2020   SOURCE: BusinessWire

Global Military Electro-optical/Infrared Systems Market to 2030 - Gain In-depth Understanding About the Underlying Factors Driving Demand - ResearchAndMarkets.com

The "Global Military Electro-optical/Infrared Systems Market 2020-2030" report has been added to ResearchAndMarkets.com's offering.

This report provides the market size forecast and the projected Compound Annual Growth Rate (CAGR) for the next ten years. The report covers the industry analysis including the key market drivers, emerging technology trends, and major challenges faced by industry participants. It also offers insights regarding key factors and government programs that are expected to influence the demand for EO/IR systems over the forecast period.

The military EO/IR market is witnessing greater demand from airborne platforms leading to sustained investment in the airborne EO/IR segment. Modern airborne warfare platforms are becoming increasingly focused on information superiority and situational awareness, and this is expected to be a major factor driving spending in this sector. This theory is further supported by increasing investments by most major militaries in targeting systems, infrared countermeasure systems, high resolution payloads, and other systems. North America accounted for a significant share of the market in 2020, primarily due to high demand from the US armed forces for EO/IR systems.

The increasing funding from the US government for R&D activities and domestic demand from the military are key contributors to the US market for military EO/IR systems.Global technologies and developments in military EO/IR have led to the adoption of these systems on large numbers of warfare platforms. Research in the field of 3rd generation forward-looking infrared, nonlinear crystals, advanced smart sensors and seekers, laser radars, advanced 3D visualization, persistent surveillance systems, multispectral and hyperspectral sensors, is leading to the creation of more capable EO/IR systems.

The Airborne EO/IR systems segment is expected to record significant growth during the forecast period due to increased procurement of aerial warfare platforms such as reconnaissance & surveillance aircraft, fighter aircraft, and unmanned aerial vehicles, and growth in spending on the development of smaller, more compact military EO/IR products.

Rising demand for high resolution and high throughput sensors for superior situational awareness, countermeasures, and reconnaissance is the key driver for the military EO/IR systems sector globally. In order to tackle conventional and evolving threats, militaries worldwide are focusing on installation of advanced EO/IR sensor based systems, which can provide intelligence in real time for necessary actions. Continuous research and development in multispectral and hyperspectral sensors, cooled thermal cameras, advanced 3D visualization, and multi-sensor technology is also enabling various countries across the globe to develop or procure new products for intelligence and security. Adoption of EO/IR is also facilitated by the NCW doctrines that are now in various stages of implementation in major militaries worldwide

The industry is focusing on size, weight, and power consumption (SWaP) of EO/IR systems. These sensors are integrated into tactical warfare platforms for full situational awareness distributed across the battle network. The industry is also overcoming the challenge of improving individual sensor technologies and merging two or more sensors into a single device, fusing raw data, on-platform processing of data into useable information, and real-time sharing of information across all assets, from theater commanders to individual warfighters. These developments will lead to greater adoption of EO/IR systems into inventory of militaries worldwide.

Scope

  • Market size and drivers: detailed analysis during 2020-2030, including highlights of the demand drivers and growth stimulators. It also provides a snapshot of the spending and modernization patterns of different regions around the world.
  • Recent developments and industry challenges: insights into technological developments and a detailed analysis of the changing preferences of Electro-optical/Infrared Systems around the world. It also provides trends of the changing industry structure and the challenges faced by industry participants.
  • Regional highlights: study of the key markets in each region, providing an analysis of the key segments of the market that are expected to be in demand.
  • Major programs: details of the key programs in each segment, which are expected to be executed during 2020-2030
  • Competitive landscape and strategic insights: analysis of the competitive landscape of the global market. It provides an overview of key players, together with information regarding their market size in different regions.

Reasons to Buy

  1. Determine prospective investment areas based on a detailed trend analysis of the Global Electro-optical/Infrared Systems market over the next ten years
  2. Gain in-depth understanding about the underlying factors driving demand for different EO/IR segments in the top spending countries across the world and identify the opportunities offered by each of them
  3. Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others
  4. Identify the major channels that are driving the Global Electro-optical/Infrared Systems market, providing a clear picture about future opportunities that can be tapped, resulting in revenue expansion
  5. Channelize resources by focusing on the ongoing programs that are being undertaken by the internal ministries of different countries within the Global Electro-optical/Infrared Systems market

Companies Mentioned

  • Northrop Grumman
  • Elbit Systems Ltd.
  • BAE Systems plc
  • Leonardo DRS
  • Lockheed Martin
  • L3 Harris Corporation
  • The Raytheon Company
  • Thales SA
  • Safran SA
  • FLIR Systems
  • Bharat Electronics Limited
  • Israel Aerospace Industries

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