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Military Electro-Optics Or Infrared (EO Or IR) Systems Market: Analysis And Forecast, Recent Developments Trends, CAGR Analysis, Top Players And Outlook | Raytheon Technologies Corporation, Lockheed Martin Corporation, Northrop Grumman Corporation, Thales
Military Electro-Optics/Infrared (EO/IR) Systems Market Outlook
The Business Research Company's Military Electro-Optics Or Infrared (EO Or IR) Systems Global Market Report 2023 identifies growing need for intelligence, surveillance, and reconnaissance (ISR) as the major driver for the military electro-optics or infrared (EO Or IR) systems market's growth in the forecast period. ISR, also known as intelligence, surveillance, and reconnaissance, is a military term that refers to the coordinated gathering, management, and dissemination of precise, timely information and intelligence to aid a commander's decision-making. Electro-Optical Infra-Red (EO/IR) system sensor technology supports distributed intelligence, surveillance, and reconnaissance (ISR) for military airborne, land-based, and naval platforms.
The global military electro-optics and infrared (EO/IR) systems market size is expected to grow from $9.08 billion in 2022 to $9.75 billion in 2023 at a compound annual growth rate (CAGR) of 7.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global military electro-optics and infrared (EO/IR) systems market size is expected to reach $12.66 billion in 2027 at a CAGR of 6.7%.
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Major competitors in the military electro-optics or infrared (EO Or IR) systems market are Raytheon Technologies Corporation, Lockheed Martin Corporation, Northrop Grumman Corporation, Thales Group, L3Harris Technologies Inc., BAE Systems PLC, Leonardo SpA, Elbit Systems Ltd., Rheinmetall AG, Ultra Electronics Holdings, Theon Sensors SA, Safran SA, Excelitas Technologies® Corp., General Dynamics Corporation, and PVP Advanced EO Inc.
A key trend in the military electro-optics or infrared (EO Or IR) systems market includes Integration of artificial intelligence. Companies operating in the military electro-optics/infrared (EO/IR) systems market are focused on integrating artificial intelligence to sustain their position in the market. For instance, in April 2023, Raytheon Technologies Corporation, a US-based aerospace and defense company, launched RAIVEN, an electro-optical intelligent-sensing capability for electro-optics and infrared (EO/IR) systems. RAIVEN promotes platform durability and protects warfighters by providing precise, persistent target surveillance and rapid information dissemination. The 'intelligent-sensing' capacity of RAIVEN enables operators to see up to five times farther and more precisely than conventional optical imaging. It combines artificial intelligence, hyperspectral imaging, and light detection and ranging, or LiDAR. This improves platform survival and gives the warfighter a strategic edge against adversaries.
Read More On The Global Military Electro-Optics Or Infrared (EO Or IR) Systems Market Report Here:
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The military electro-optics or infrared (EO Or IR) systems market is segmented -
• By Product Type: Handheld System, EO/IR Payload
• By Component: Human Machine Interfaces, Stabilization Units, Control Systems, Optics, Sensors, Processor
• By Imaging Technology: Scanning, Starring, Hyperspectral, Multispectral
• By Platform: Land, Airborne, Naval
• By Application: Military Intelligence, Surveillance, Reconnaissance
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the military electro-optics or infrared (EO Or IR) systems market.
The Business Research Company's "Global Military Electro-Optics Or Infrared (EO Or IR) Systems Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Military Electro-Optics Or Infrared (EO Or IR) Systems Market Include:
1. Executive Summary
2. Military Electro-Optics/Infrared (EO/IR) Systems Market Characteristics
3. Military Electro-Optics/Infrared (EO/IR) Systems Market Trends And Strategies
4. Military Electro-Optics/Infrared (EO/IR) Systems Market - Macro Economic Scenario
5. Military Electro-Optics/Infrared (EO/IR) Systems Market Size And Growth
………………………
26. Africa Military Electro-Optics/Infrared (EO/IR) Systems Market
27. Military Electro-Optics/Infrared (EO/IR) Systems Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Military Electro-Optics/Infrared (EO/IR) Systems Market
29. Military Electro-Optics/Infrared (EO/IR) Systems Market Future Outlook and Potential Analysis
30. Appendix
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