Press release
Military Electro-Optics/Infrared (EO/IR) Systems Market Size Projected To Reach $14.2 Billion By 2034 With A Cagr Of 6.7%
Military Electro-Optics/Infrared (EO/IR) Systems
What Is the Projected Growth of the Military Electro-Optics/Infrared (EO/IR) Systems Market?
The Military Electro-Optics/Infrared (EO/IR) Systems Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].
What Is the Projected Growth of the Military Electro-Optics/Infrared (EO/IR) Systems Market?
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What Are the Different Military Electro-Optics/Infrared (EO/IR) Systems Market Segments?
The military electro-optics/infrared (EO/IR) systems market covered in this report is segmented -
1) By Product Type: Handheld System, EO/IR Payload.
2) By Component: Human Machine Interfaces, Stabilization Units, Control Systems, Optics, Sensors, Processor.
3) By Imaging Technology: Scanning, Starring, Hyperspectral, Multispectral.
4) By Platform: Land, Airborne, Naval.
5) By Application: Military Intelligence, Surveillance, Reconnaissance.
Subsegments:
1) By Handheld System: Portable Thermal Imaging Devices, Night Vision Goggles, Handheld Multi-Sensor Systems, Tactical Thermal Monoculars
2) By EO Or IR Payload: UAV Payloads, Ground Vehicle Mounted Systems, Maritime EO Or IR Systems, Aerial Surveillance Payloads
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What Are the Primary Drivers Shaping the Military Electro-Optics/Infrared (EO/IR) Systems Market?
The increasing demand for intelligence, surveillance, and reconnaissance (ISR), is anticipated to drive the expansion of the military electro-optics and infrared (EO/IR) systems market. In military parlance, ISR refers to the systematic collection, processing, and distribution of accurate, up-to-date intelligence and information to support decision-making processes of commanders. The EO/IR system sensor technology contributes to decentralized ISR capabilities for airborne, terrestrial, and naval military platforms. For example, the Defense Intelligence Agency reported in March 2022 that, for the year 2022, 550 ISR satellites supported military operations, compared to nearly 100 ISR satellites a decade prior. Moreover, Skykam Technical Inspection, a company based in the UK offering UAV building inspection services, noted that in December 2022, there were 855,860 drones registered with the FAA in the US, with 37% of these registrations (316,075) earmarked for commercial operations aimed at ISR activities. Thus, the mounting demand for intelligence, surveillance, and reconnaissance (ISR) fuels the growth of the EO/IR systems in the military sector.
Which Companies Are Leading in the Military Electro-Optics/Infrared (EO/IR) Systems Market?
Major companies operating in the military electro-optics/infrared (EO/IR) systems market include 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, PVP Advanced EO Inc., Textron Inc, Teledyne FLIR, Leidos Holdings Inc., Logos Technologies, Moog Inc., Apie Group, The Boeing Co., CONTROP Precision Technologies, Alpha Design Technologies, SPI Corp, Tonbo Imaging, UTC Aerospace Systems, Zhejiang Dali Technology Co. Ltd., Luminator Technology Group, Curtiss-Wright Corporation
What Are the Major Trends Shaping the Military Electro-Optics/Infrared (EO/IR) Systems Market?
The incorporation of artificial intelligence has emerged as a significant trend within the military electro-optics/infrared (EO/IR) systems market. Businesses in this sector are placing a major emphasis on incorporating artificial intelligence in order to maintain market dominance. Raytheon Technologies Corporation, for example, an aerospace and defense firm based in the United States, debuted RAIVEN, an electro-optical intelligent-sensing tool designed for electro-optics and infrared (EO/IR) systems, in April 2023. RAIVEN enhances platform endurance and safeguard warfighters via offering accurate, continuous target monitoring and fast information distribution. Thanks to the 'intelligent-sensing' capabilities of RAIVEN, operators can see five times further and with more precision compared to traditional optical imaging. This tool blends artificial intelligence with hyperspectral imaging and light detection and ranging (LiDAR), thereby enhancing platform survivability and granting warfighters a strategic advantage over foes.
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What Are the Top Revenue-Generating Geographies in the Military Electro-Optics/Infrared (EO/IR) Systems Market?
North America was the largest region in the military electro-Optics/Infrared (EO/IR) Systems market in 2024. The regions covered in the military electro-optics/infrared (EO/IR) systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Military Electro-Optics/Infrared (EO/IR) Systems Market?
2. What is the CAGR expected in the Military Electro-Optics/Infrared (EO/IR) Systems Market?
3. What Are the Key Innovations Transforming the Military Electro-Optics/Infrared (EO/IR) Systems Industry?
4. Which Region Is Leading the Military Electro-Optics/Infrared (EO/IR) Systems Market?
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