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IMARC Group’s latest report, titled “Military Electro-optical and Infrared Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, finds that the global military electro-optical and infrared systems market reached a value of US$ 9.6 Billion in 2021. 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.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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 3.91% during 2022-2027.
Market Summary:
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