DUBLIN, Feb. 27, 2024 /PRNewswire/ — The “Military Electro-Optics / Infrared Systems – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
Global Military Electro-Optics / Infrared Systems Market to Reach $13.4 Billion by 2030
The global market for Military Electro-Optics / Infrared Systems estimated at US$8.8 Billion in the year 2022, is projected to reach a revised size of US$13.4 Billion by 2030, growing at a CAGR of 5.4% over the analysis period 2022-2030. Air, one of the segments analyzed in the report, is projected to record a 4.7% CAGR and reach US$5.8 Billion by the end of the analysis period. Growth in the Land segment is estimated at 6.4% CAGR for the next 8-year period.
The increasing significance of military electro-optical and infrared (EO/IR) systems, driven by evolving defense requirements, is highlighted in the context of a global economic update. An introduction to these systems sets the stage, emphasizing their crucial role in modern military operations.
The airborne segment is identified as a leader in the military EO/IR systems market, with developing regions poised to drive future growth. The competitive landscape is explored through insights into the market presence of 84 players worldwide in 2023, followed by an overview of recent market activity. This underscores a dynamic industry responding to evolving defense needs and technological advancements.
The U.S. Market is Estimated at $3.6 Billion, While China is Forecast to Grow at 6.9% CAGR
The Military Electro-Optics / Infrared Systems market in the U.S. is estimated at US$3.6 Billion in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$1.8 Billion by the year 2030 trailing a CAGR of 6.9% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.8% and 5% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 4.7% CAGR.
MARKET TRENDS & DRIVERS
Strong Growth in Military & Defense Spending Spurs Opportunities for Military Electro-Optics/Infrared Systems
Robust Defense Spending Amid the Unfortunate State of Global Geo-Political Affairs Opens Opportunities for Spending on Military Electro-Optics/Infrared Systems: Military Spending by Top Countries in 2023 (In US$ Billion)
Rise in Territorial Conflicts and Border Disputes Necessitate Better Surveillance & Target Identification
Soldier Modernization Initiatives Augur Well for the Market
Age of Connected Battlefield & Network Centric Warfare Strategies Make C4ISR the Backbone of Modern Military Operations
Improving Target Identification, Threat Assessment and Monitoring: Essential Capabilities of EO Systems
Advancements in Defense Electronics and Miniaturization of Military Electronics Support Market Growth
Growing Use of Sensor-Based Systems in Military Applications Augurs Well for the Market
Market Primed to Benefit from the Rising Adoption of High Capability UAVs
New Era of Drone-Powered Warfare
Increasing Use of Drones in the Battlefield Pushes Up Demand for EO/IR Systems
Growing Role of Unmanned Aircraft Systems for ISR Operations Drives Demand for EO/IR Systems
With Unmanned Aircrafts Posing Threat of Terrorism and Smuggling, EO/IR-based Counter-Drone Systems Grow in Prominence
Indian Government Seeks Anti-Drone System Amidst Heightened Threat from Rogue Drones
Small Sized EO/IR Sensors in Drones for ISR Missions
Rising Need for EO/IR Systems for Unmanned Vehicles in Surveillance Applications
Maritime Boundary Disputes Accentuate Need for ISR Systems
Night Vision & Electro-Optics Ride High on Need for Surveillance & National Security
New Technologies Revolutionize Vision Systems for Soldiers
Increasing Proliferation of Military Aerostat Systems Augurs Well for the Market
Focus on Development of EO/IR Systems to Coordinate with Traditional Military Systems
Sustained Demand for Infrared Imaging Technology in Military Applications
Imaging Infrared Technology Finds Favor in IR Missile Guidance
Thermal Cameras: An Important System for Securing Borders
Infrared and Thermal Cameras Find Use in ISR Operations
Thermal Imagers for Remote Temperature Measurement
Integration of EO Systems into Laser and Thermal Imaging Systems for More Effective Surveillance
Advanced LWIR Technology to Power Near-Room Temperature Thermal Imaging
LWIR Imagers with Superior Dynamic Range
Ballistic Missile Defense Undergoes Seismic Changes with Electro-Optical Sensors
Detection Using IR and Electro-Optical Sensors
Effective Command & Control using Advanced Sensors
Networked Sensing Systems Hold Significance for Urban Target Recognition
EO/IR Systems and Motion Control Systems in Harsh Environments
Robust Growth of Early Warning Systems to Present Market Opportunities
Factors Influencing Future Developments & Multi-Spectral Targeting
Technological Advances to Bolster Market Growth
Advances in Stabilization to Expand Boundaries of Electro-Optical Sensors for Military Use
FOCUS ON SELECT PLAYERS (Total 82 Featured)
BAE Systems PLC
Elbit Systems Ltd.
General Dynamics Corporation
Aselsan A.S.
Bharat Electronics Ltd.
Excelitas Technologies Corporation
Bertin Technologies
Cantronic Systems (Canada), Inc.
CONTROP Precision Technologies Ltd.
HGH Systemes Infrarouges
Hensoldt Sensors GmbH
American Technologies Network Corp.
Hanwha Systems Co., Ltd.
Defsys Solutions Pvt Ltd.
IMAGEOPS
For more information about this report visit https://www.researchandmarkets.com/r/84v27o
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