London, 04 August 2015: Technavio, the independent tech-focused global research firm, has published a report on the global military EO/IR systems market 2015-2019, which is projected to grow at a CAGR of 6.07% during the period 2015-2019.
Of late, military organizations are opting for cost-effective electronics and electro-optic systems for combat vehicles. The growth is led by rising demand, the changing nature of warfare, and advances in technology in vehicle electronics, which involves RF jamming devices and EO/IR sensors to help identify the warfare situation.
Upgradation and development in EO/IR systems and technology have enabled 360 degree rotation, 24-hour situational awareness, automated object detection, and guidance for defense gunnery.
“The military industry has adapted new cameras to operate with more efficient and effective visibility in low light or at night. This sensor technology provides superior signal-to-noise performance because of its large 9.7µm2 pixels and high fill factor,” says Faisal Ghaus, Vice President of Technavio.
“It provides better performance in poor conditions while consuming less power and providing significant output. It also offers 1280*1024 resolution with consistent read noise below 4e- at rates up to its full 100 fps.”
Key Market Drivers
- Growing Demand for Vetronics
- Introduction of InGaAs Detector System
- Advancement in EO/IR Technology
Key Market Trends
- Shift toward LWIR System
- Low-Light Sensor
- Usage of Laser Range Finders
- Shift toward EO/Laser Guidance System
Key Market Vendors
- BAE Systems plc
- ELBIT Systems Ltd.
- Lockheed Martin Corp.
- Raytheon Co.
- Thales Group
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
