May 19, 2022   SOURCE: BusinessWire

The Worldwide Military Electro-Optics/Infrared Systems Industry is Expected to Reach $16.3 Billion by 2026 - ResearchAndMarkets.com

The "Military Electro-Optics/Infrared Systems - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

The global market for Military Electro-Optics/Infrared Systems estimated at US$11.9 Billion in the year 2020, is projected to reach a revised size of US$16.3 Billion by 2026, growing at a CAGR of 5.4% over the analysis period.

Air, one of the segments analyzed in the report, is projected to grow at a 5.5% CAGR to reach US$11.5 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Land segment is readjusted to a revised 4% CAGR for the next 7-year period. This segment currently accounts for a 18.3% share of the global Military Electro-Optics/Infrared Systems market.

The U.S. Market is Estimated at $5.2 Billion in 2021, While China is Forecast to Reach $2.1 Billion by 2026

The Military Electro-Optics/Infrared Systems market in the U.S. is estimated at US$5.2 Billion in the year 2021. The country currently accounts for a 42.51% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$2.1 Billion in the year 2026 trailing a CAGR of 6.9% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.8% and 5.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.6% CAGR while Rest of European market (as defined in the study) will reach US$2.3 Billion by the close of the analysis period.

Naval Segment to Reach $2.6 Billion by 2026

In the global Naval segment, USA, Canada, Japan, China and Europe will drive the 6.5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.5 Billion in the year 2020 will reach a projected size of US$2.3 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets.

Select Competitors (Total 82 Featured) -

  • BAE Systems plc
  • Bharat Electronics Limited
  • Elbit Systems Ltd.
  • Excelitas Technologies Corp.
  • Israel Aerospace Industries
  • L3Harris Technologies, Inc.
  • Leonardo S.p.A.
  • Lockheed Martin Corporation
  • Northrop Grumman Corporation
  • Raytheon Technologies Corporation
  • Rheinmetall AG
  • Saab AB
  • Safran SA
  • Teledyne FLIR LLC
  • Thales Group
  • Ultra Electronics Holdings plc

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Impact of COVID-19 Pandemic and Looming Economic Recession
  • 2020 Marked as a Year of Disruption & Transformation
  • World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
  • Pandemic Impact on Military Electro-Optics/Infrared Systems Market
  • An Introduction to Military Electro-Optics/Infrared Systems
  • Evolving Defense Needs Enhance Importance of Military Electro Optical and Infrared Systems
  • Airborne Segment Leads Military EO/IR Systems Market, Sea-Based Systems to Record High Gains
  • Developing Regions to Spearhead Future Growth
  • Competition
  • Recent Market Activity
  • Military Electro-Optics/Infrared Systems - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • Defense Spending Levels Influence Growth in EO Systems Market
  • Defense Spending Trends Set Demand Dynamics for Military Electro Optics and Infrared Systems: Defense Expenditure Worldwide in US$ Billion for the Years 2001 through 2020
  • Leading Countries Ranked by Defense Budgets in US$ Billion for 2020
  • Rise in Territorial Conflicts and Border Disputes Necessitate Better Surveillance & Target Identification
  • Number of Terrorist Attacks Worldwide for the Period 2011-2019
  • Terrorism-Related Deaths by Country for the Years 2018 and 2019
  • Countries with Highest Increase in Deaths due to Terrorism: 2019 vs 2018
  • Soldier Modernization Initiatives Augur Well for the Market
  • Soldier Modernization Initiatives Fuel Demand for Advanced EO-IR Systems: Global Soldier Modernization Market Size (in US$ Billion) for 2018, 2021, 2024 & 2027
  • Age of Connected Battlefield & Network Centric Warfare Strategies Make C4ISR the Backbone of Modern Military Operations
  • Improving Target Identification, Threat Assessment and Monitoring: Essential Capabilities of EO Systems
  • Advancements in Defense Electronics and Miniaturization of Military Electronics Support Market Growth
  • Growing Use of Sensor-Based Systems in Military Applications Augurs Well for the Market
  • Market Primed to Benefit from the Rising Adoption of High Capability UAVs
  • Increasing Use of Drones in the Battlefield Pushes Up Demand for EO/IR Systems: Global Market for Military Drones (In US$ Billion) for the Years 2018, 2020, 2022 and 2024
  • Growing Role of Unmanned Aircraft Systems for ISR Operations Drives Demand for EO/IR Systems
  • With Unmanned Aircrafts Posing Threat of Terrorism and Smuggling, EO/IR-based Counter-Drone Systems Grow in Prominence
  • Indian Government Seeks Anti-Drone System Amidst Heightened Threat from Rogue Drones
  • Small Sized EO/IR Sensors in Drones for ISR Missions
  • Rising Need for EO/IR Systems for Unmanned Vehicles in Surveillance Applications
  • Need for Better Sighting Devices Drive Growth in Military Night Vision Devices Market
  • Global Night Vision Devices Market Size (in US$ Billion) for the Years 2019, 2022 and 2025
  • Increasing Proliferation of Military Aerostat Systems Augurs Well for the Market
  • Global Aerostat Systems Market Size ($ Billion) for the Years 2018, 2021 and 2024
  • Focus on Development of EO/IR Systems to Coordinate with Traditional Military Systems

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/63ufzn