According to the latest market research study released by Technavio, the global military electro-optical and infrared systems market is expected to grow at a CAGR of close to 7% during the forecast period 2016-2020.
This market research report by Technavio provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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Technavio research analysts categorize the global military electro-optical and infrared systems market based on application:
Global military electro-optical and infrared systems market share by application 2015
|
Airborne |
62.51% |
|
Land-Based |
20.32% |
|
Naval |
17.17% |
Source: Technavio
Airborne EO/IR systems market
The global airborne EO/IR systems market was valued at almost $6 billion in 2015 and will post a CAGR of around 6% by 2020. Airborne platforms are resources for several defense organizations as it ensures a robust, efficient security, and surveillance environment. Innovations and developments made in the electronic warfare (EW) operations is improving the information gathering and processing capabilities in the battlefield. Such advancements allow combatants to achieve unique tactical and strategic advantages over hostile opponents. The increasing deployment of small tactical UAV platforms will help in the growth of this market segment during the forecast period.
“The manufacturers in the market are focusing on launching technologies via the e-platform that helps in the evolution of several manned and unmanned aircraft. The vendors are also launching lightweight intelligence, surveillance, and reconnaissance (ISR) payload on UAVs to achieve longer flight range and greater endurance. Some of the advancements in the systems include integrated mission management computer (IMMC) that supports the central data interface of the onboard payload sensors of a UAV. The increasing developments in the tactical UAVs and maritime surveillance aircraft will fuel growth in this market segment,” says Moutushi Saha, a lead analyst at Technavio for research on defense.
Land-based EO/IR systems
The global land-based EO/IR system was valued at almost $2 billion in 2015 and will post CAGR of close to 8% by 2020. The extensive use of these ground-based EO/IR sensors in the field for combat and surveillance vehicles will boost demand in this market segment. Some of the vehicles that use these sensors include manned and unmanned ground vehicles (UGV), personal man-portable systems, and military tanks. The vendors are developing advanced sensors and other support systems to meet the requirements of the end-users and to the changes associated with modern warfare. The government and defense ministries are strategizing on developing next-generation armored combat vehicles that can ensure superior operational viability.
Naval EO/IR systems market
The global naval EO/IR systems market was valued at more than $1 billion in 2015 and will post a CAGR of around 8% by 2020. The increasing efforts for the enhancement of maritime surveillance and reconnaissance capabilities are fueling the growth of this market segment. Various vendors are collaborating with different naval agencies to test the feasibility of wide field-of-view (FOV) distributed-aperture sensors that can ensure 360-degree surveillance capabilities for the naval platforms. The manufacturers in the market are focusing on the development and supply C4ISR systems that enables the military personnel to integrate data from the sensors, tactical systems, and communication links. This system also helps coast guards to capture the operational picture of the patrolling area effectively. For instance, the US Navy entered a contract with Honeywell, for the installation of sensor systems on the surface ships, submarines, and shore stations of the US Navy.
The top leading vendors operating in the global military electro-optical and infrared systems market are:
- BAE Systems
- Elbit Systems
- Lockheed Martin
- Raytheon
- Thales
Other prominent vendors in the market include CONTROP Precision Technologies, DRS Technologies, General Dynamics, Harris, Israel Aerospace Industries, L-3 Communications, and Saab.
A more detailed analysis is available in the Technavio report titled, ‘Global Military Electro-optical and Infrared Systems Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Military Load Carriage Systems Market 2016-2020
- Global Military Laser Systems Market 2016-2020
- Global Airborne Laser Obstacle Avoidance Monitoring Systems Market 2016-2020
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