Global Military Electro-optical and Infrared Systems Market to Grow at 3.3% During 2024-2032, Bolstered by Technological Advancements

June 10, 2021 | Aerospace and Defense

IMARC Group’s latest report, titled “Military Electro-optical and Infrared Systems Market Report by Platform (Air-Based, Sea-Based, Land-Based), System (Targeting System, Electronic Support Measure (ESM) System, Imaging System), Sensor Type (Staring Sensor, Scanning Sensor), Technology (Cooled, Uncooled), Wavelength (Ultraviolet, Near Infrared, Short and Medium Wavelength Infrared, Long Wavelength Infrared), and Region 2024-2032”, finds that the global military electro-optical and infrared systems market reached a value of US$ 10.4 Billion in 2023. Military electro-optical (EO) and infrared (IR) systems are imaging systems used for military or law enforcement applications for providing total situational awareness in both day and night and low light conditions. These systems include both visible and infrared sensors that are usually mounted on aircraft or vehicles to track moving targets, identify them and assess threats from a distance and challenging environmental conditions. Some of the applications of EO/IR systems include airborne homeland security, patrol, combat, reconnaissance, surveillance, and search and rescue programs. In recent years, the deployment of military EO/IR solutions for unmanned vehicles has escalated due to their long-range imaging abilities and image stabilization.

Global Military Electro-optical and Infrared Systems Market Trends:

The increasing territorial conflicts and border issues have encouraged armed forces to focus on incorporating sophisticated and advanced EO/IR sensor systems into their naval vessels. Besides this, governments of various countries are investing considerably in the defense sector and advanced weapon systems, which is further contributing to the market growth. Moreover, several technological advancements and innovations, such as the rising adoption of computational imaging, by the manufacturers are providing a positive impact on the market growth. They are also introducing EO/IR technologies that fit smaller payloads, including traditional drones. Looking forward, the market is anticipated to exhibit a CAGR of 3.3% during 2024-2032.

Market Summary:

Based on the platform, the market has been segmented into air-, sea-, and land-based.
On the basis of the system, the market has been classified into targeting system, electronic support measure (ESM) system, and imaging system (multispectral imaging system and hyperspectral imaging system).
The market has been categorized based on the sensor type into staring and scanning sensors.
On the basis of the technology, the market has been bifurcated into cooled and uncooled technologies.
The market has been segmented based on the wavelength into ultraviolet, near infrared, short and medium wavelength infrared and long wavelength infrared.
Region-wise, the market has been segmented into North America (the United States and Canada), Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia and others), Europe (Germany, France, the United Kingdom, Italy, Russia, Spain and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
The competitive landscape of the market has also been examined, with some of the key players being BAE Systems Plc, Elbit Systems Ltd., FLIR Systems Inc., Israel Aerospace Industries, L3Harris Technologies Inc., Leonardo S.p.A., Lockheed Martin Corporation, Raytheon Technologies Corporation, Rheinmetall AG, Saab AB and Thales Group.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Segment Coverage	Platform, System, Sensor Type, Technology, Wavelength, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	BAE Systems Plc, Elbit Systems Ltd., FLIR Systems Inc., Israel Aerospace Industries, L3Harris Technologies Inc., Leonardo S.p.A., Lockheed Martin Corporation, Raytheon Technologies Corporation, Rheinmetall AG, Saab AB and Thales Group
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 3899 Five User License: US$ 4899 Corporate License: US$ 5899
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Military Electro-optical and Infrared Systems Market to Grow at 3.3% During 2024-2032, Bolstered by Technological Advancements

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