Global Military Electro-Optics Infrared (EO-IR) System Market to reach USD 29.81 billion by 2028
The military electro-optics infrared (EO-IR) system market is projected to reach USD 29.81 billion by 2028, at a CAGR of 5.1% during a forecast period. The high demand for advanced military equipment, weapons, and increasing investments in the defense sector are expected to drive the military electro-optics infrared (EO-IR) system market during the forecast period.
Browse full report of Military Electro-Optics Infrared (EO-IR) System market size & forecasting (2016–2028) report: https://quincemarketinsights.com/industry-analysis/global-military-electro-optics-infrared-systems-market/35187
The increasing need for technologically advanced security, surveillance, and intelligence systems is one of the main factors responsible for the growth of the military electro-optics infrared (EO-IR) system market. However, increasing investments by the government in the defense sector is fueling the growth of the military electro-optics infrared (EO-IR) system market. This investment has led the defense equipment manufacturers to invest more in research and development of technologies or upgrade the existing technologies. However, rising insurgencies is also one of the major factors driving the military electro-optics infrared (EO-IR) system market. Another factor affecting market growth positively is the increasing demand for drone-powered EO/IR systems. Due to the ability to provide high visibility in wide-open areas like the borders, the drone-powered EO/IR or EO/IR cameras have witnessed significant growth in the military electro-optics infrared system.
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Imaging system segment is expected to grow at the highest rate
Based on the system, the imaging segment of the military electro-optics infrared (EO-IR) system market is expected to grow at the highest rate. This growth can be attributed to the increasing demand for surveillance equipment from the defense sector globally for identifying targets in places where human surveillance is not sufficient. Due to developments in advanced laser and infrared technologies, imaging systems can provide high-definition 3D images, which can locate and identify targets at much longer ranges and thus, are better than the existing optical systems. These advanced imaging surveillance systems can detect enemies with the help of infrared or thermal imaging systems even in the dark.
North America is expected to account for the largest share of the market
The North American region is expected to account for the largest share of the market. The US defense has the highest expenditure in the world owing to the increasing investment figure of the government in defence sector. Thus, the region is expected to account for the largest share of the military electro-optics infrared (EO-IR) system market. The military in the region is also the main source of income.
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Major companies manufacturing military electro-optics infrared (EO-IR) systems, such as UTC Aerospace, Rockwell Collins, Raytheon, Northrop Grumman Corporation, BAE Systems Plc, Thales Group, Lockheed Martin Corporation, L3 Technologies, Leonardo DRS, and Hensoldt GmbH, among others, have been profiled in the study to provide a competitive view about the market.
- Electronic Support Measure
- Short Infrared
- Medium Infrared
- Long Infrared
By Imaging Technology:
- North America
- Asia Pacific
- Western Europe
- Eastern Europe
- Middle East
- Rest of the World