Good Growth Opportunities in Global Infrared Search and Track Systems Market Till 2017 - 2025
The major advantage of infrared search and track systems market is the demand for enhanced situational awareness is growing at a rapid rate across the globe. The situational awareness is a major factor during combat, and infrared systems increases the situational awareness among the defense forces by helping them during search and rescue or track operation in the dark. This factor is increasing the demand for infrared search and track systems among the defense forces worldwide. In addition, the defense budget is increasing in developed as well as developing countries in comparison to last couple of years. The increased defense budgets is helping the defense forces to adopt latest technologies to benefit the military troops on the battleground.
The key challenge faced by the defense forces during procurement of the infrared search and track systems is the limited operational range of the systems. Due to technological constraints from various defense authorities across the globe, the manufacturers of infrared search and track systems restricts the operational range and which in turn limits the procurement of the systems among the defense forces, resulting in negative impact on the growth of the market in future.
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The defense forces are investing heavily in the modernization of the military forces, air forces, and naval forces, with the latest technologies. This factor is acting as an opportunity for the infrared search and track market to grow in future. The modernization of military includes incorporation of technologically advanced weaponries, technologically robust situational awareness systems and latest wearable. Thus, modernization of military forces, air forces, and naval forces across the globe is expected to grow the market for infrared search and track systems in the coming years.
The market for infrared search and track systems is segmented on basis of components, platform, end users and geography. The different components integrated in the infrared search and track systems includes scanning head, processing and control electronics, and display. The scanning head segment is further categorized as infrared module, optics and laser range finder. Among the various types of components, the scanning head led the market in the past few years and is expected to lead the market in future. This is due to the fact that, the infrared module and laser systems helps in enhanced search and tracking of enemy as well as enemy vehicles and armories. On basis of platform, the market for infrared search and track systems is segmented as airborne, naval and land. The airborne platform is sub segmented as aircrafts and unmanned aerial vehicle. The naval platform is further broken down into destroyers, offshore patrol vessels, amphibious warships, cruisers, aircraft carriers and others. The land platform is sub segmented as armored vehicle, and military personnel carrier others. The airborne segment dominates the market in the current scenario and is also expected to lead the market in the coming years due to the rapid modernization of military aircrafts, which enhances the search and track systems. The infrared search and track systems is categorized on basis of end users as defense sector, law enforcement agencies and homeland security. The defense sector captures the majority of market share in the past few years and is expected to dominate the market in future due to growing defense budgets across the globe. Globally, the market for infrared search and track systems is categorized as North America, Europe, Asia Pacific, Middle East and Africa and Latin America.
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The top ten players present in the market for infrared search and track systems includes, Lockheed Martin Corporation (U.S), Aselsan A.S. (Turkey), Northrop Grumman Corporation (U.S), Safran SA (France), Rheinmetall AG (Germany), Thales Group (France), Leonardo S.P.A. (Italy), HGH Infrared Systems (France), Tonbo Imaging (India) and MBDA (France) among others.
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