Military Electro-Optical and Infrared Systems Market Size, Emerging Technologies, Comprehensive Analysis, Future Prospects, Regional Trends and Potential of the Industry from 2018-2021

Market Highlights:

EO/IR systems are an essential part of military industries. They are used by military platforms such as airborne, land-based, and naval. Some of the airborne EO/IR systems are optic sights, observation systems, helmet mounted displays, and night vision systems. Land-based includes night vision goggles, weapon mounted sights, vehicle mounted optronics devices, thermal imagers, laser rang finders, and designators. Naval based EO/IR systems are infrared imaging and detectors, thermal imagery systems, optronics mast systems, and surveillance and tracking systems. These systems aid in the war field scenario with better visibility, tracking, and targeting of enemy locations.

The military market shifted toward LWIR systems to provide armored vehicles with upgraded thermal imaging capacities and improved target detection, recognition, and identification of the range. These have adapted low-light cameras for better performance in poor conditions while consuming less power and providing significant output. The use of laser range finders aid in day or night conditions and in nearly all battlefield conditions including haze, smoke, fog, and rain. Also, a shift toward EO/laser guidance systems is trending toward the military special missions, which provide imaging cameras that act both as a sight and target seeker for small weapons and missile systems.
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Major Key Players

Raytheon,
Lockheed Martin,
L-7 Communications Holdings, Inc.
BAE Systems Plc.
Thales group,
DRS Technologies,
Northrop Grumman,
Elbit Systems Ltd.,
Harris Corporation,
Rheinmetall Defence AG,
Textron, Rockwell Collins, II-VI, Inc.,
Ultra Electronics Holdings.

The global Military Electro-Optical And Infrared Systems Market is expected to grow at a CAGR of around 7% during 2016-2021.

Industry/ Innovation/ Related News:

April 19, 2017: To provide military aircrews with enhanced protection from new and emerging threats, BAE Systems and Leonardo DRS have signed a Memorandum of Understanding to offer advanced threat detection capabilities for U.S. Army fixed- and rotary-wing aircraft. The two companies will collaborate to develop an advanced infrared-based threat warning system to meet current and evolving operational requirements for Army aircraft survivability.

September 19, 2017– Lockheed Martin recently completed its 300th Electro-Optical Targeting System (EOTS) for the F-35 Lightning II stealth fighter. EOTS is an imaging sensor which allows the F-35 to identify, track and designate targets. The 300th EOTS was completed under the 10th Low-Rate-Initial Production (LRIP) contract, and each system was delivered on time or ahead of schedule.

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Regional Analysis
In 2014, global naval platforms totalled 8,000 including combat ships, submarines, and aircraft carriers. This is likely to grow at the rate of 2.01%, with 3,800 new naval platforms in the next 20 years. The Middle East and North Africa have grown by 25% in the naval platforms market and are expected to invest $56 billion for new crafts and carries in the next 20 years. Also, APAC is likely to procure 114 submarines by 2032, which will contribute to the market.

In 2014, U.S. defense spending was USD 600 billion and it is expected to decline by USD 560 by 2020 because of budget cuts. This is expected to impact on the procurement programs such as only 174 surface ships and submarines will be delivered in the next 20 years. Also, the Latin America military aircraft market declined by 5% in 2014 and 52 new combat ships and submarines are expected to be delivered by 2031, which is impacting the market with slow growth.

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