The report "Military Electro-Optics/Infrared (EO/IR)
Systems Market by Platform, System (Targeting, Imaging), Technology (Uncooled,
Cooled), Sensor Technology (Staring, Scanning), Imaging Technology
(Hyperspectral, Multispectral), and Region - Global Forecast to 2022",
The global military electro-optics/infrared systems market is estimated to be
USD 10.15 Billion in 2016 and is projected to reach USD 14.20 Billion by 2022,
at a CAGR of 5.75% from 2016 to 2022.
Browse 86 market data tables and
65 figures spread through 175 pages and in-depth TOC on “Military Electro-Optics/Infrared (EO/IR) Systems Market - Global
Forecast to 2022”
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Increased demand for battlespace
awareness by defense forces and technological advancements resulting in
improved efficiency of EO/IR systems are the major factors driving the military
electro-optics/infrared systems market. The growing demand for border
surveillance and situational awareness have resulted in increased use of UAVs.
Increase in R&D activities in the aerospace & defense sector has
contributed to the development of miniaturized and lightweight components and
defense equipment, especially for airborne applications.
Based on sensor technology, the
staring sensor segment is projected to lead the military
electro-optics/infrared systems market during the forecast period
On the basis of sensor
technology, the staring sensor segment is estimated to lead the military
electro-optics/infrared systems market during the forecast period the due to an
upsurge in demand for sensors, as they gather more radiation and are able to handle
complex moving parts of sensors and cameras, which are required in the
battlefield. Staring sensors are widely used in missile warning receivers and
electronic warfare systems. They are preferred over scanning sensors, as they
are cost efficient and have varied technological applications.
Based on system, the imaging
system segment is estimated to grow at the highest CAGR during the forecast
period
On the basis of system, the
imaging system segment of the military electro-optics/infrared systems market
is anticipated to grow at the highest CAGR during the forecast period, due to
developments in advanced laser and infrared technologies. Imaging technologies
can provide high-resolution 3D images to locate and identify a target at much
longer ranges than is possible with existing optical systems. Several prototype
optical surveillance and observation systems are expected to be developed that
will demonstrate probabilities of recognition and identification at distances
sufficient to allow standoff engagement and overcome atmospheric turbulence,
which limit the ability of high-resolution optics.
North America is estimated to be
the largest market for military electro-optics/infrared systems
North America is estimated to
lead the military electro-optics/infrared systems market during the forecast
period due to the increasing demand for electro-optics/infrared systems across
various sectors, such as military, public safety, and commercial in the region.
The region is witnessing growth due to increased investments in defense
equipment and use of electro-optics/infrared system across the region. North
America is estimated to account for the largest share in 2016 of the global
military EO/IR systems market due to the increasing demand for imaging
technologies, laser rangefinders, and infrared systems.
Major players in the military
electro-optics/infrared systems market are Lockheed Martin Corporation (U.S.),
Northrop Grumman Corporation (U.S.), BAE Systems Plc. (U.K.), Raytheon Company
(U.S.), and Thales Group (France), among others.
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