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$1.8 Billion by the year 2030 trailing a CAGR of 6.9% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.8% and 5% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 4.7% CAGR.
MARKET TRENDS & DRIVERS
Strong Growth in Military & Defense Spending Spurs Opportunities for Military Electro-Optics/Infrared SystemsRobust Defense Spending Amid the Unfortunate State of Global Geo-Political Affairs Opens Opportunities for Spending on Military Electro-Optics/Infrared Systems: Military Spending by Top Countries in 2023 (In US$ Billion)Rise in Territorial Conflicts and Border Disputes Necessitate Better Surveillance & Target IdentificationSoldier Modernization Initiatives Augur Well for the MarketAge of Connected Battlefield & Network Centric Warfare Strategies Make C4ISR the Backbone of Modern Military OperationsImproving Target Identification, Threat Assessment and Monitoring: Essential Capabilities of EO SystemsAdvancements in Defense Electronics and Miniaturization of Military Electronics Support Market GrowthGrowing Use of Sensor-Based Systems in Military Applications Augurs Well for the MarketMarket Primed to Benefit from the Rising Adoption of High Capability UAVsNew Era of Drone-Powered WarfareIncreasing Use of Drones in the Battlefield Pushes Up Demand for EO/IR SystemsGrowing Role of Unmanned Aircraft Systems for ISR Operations Drives Demand for EO/IR SystemsWith Unmanned Aircrafts Posing Threat of Terrorism and Smuggling, EO/IR-based Counter-Drone Systems Grow in ProminenceIndian Government Seeks Anti-Drone System Amidst Heightened Threat from Rogue DronesSmall Sized EO/IR Sensors in Drones for ISR MissionsRising Need for EO/IR Systems for Unmanned Vehicles in Surveillance ApplicationsMaritime Boundary Disputes Accentuate Need for ISR SystemsNight Vision & Electro-Optics Ride High on Need for Surveillance & National SecurityNew Technologies Revolutionize Vision Systems for SoldiersIncreasing Proliferation of Military Aerostat Systems Augurs Well for the MarketFocus on Development of EO/IR Systems to Coordinate with Traditional Military SystemsSustained Demand for Infrared Imaging Technology in Military ApplicationsImaging Infrared Technology Finds Favor in IR Missile GuidanceThermal Cameras: An Important System for Securing BordersInfrared and Thermal Cameras Find Use in ISR OperationsThermal Imagers for Remote Temperature MeasurementIntegration of EO Systems into Laser and Thermal Imaging Systems for More Effective SurveillanceAdvanced LWIR Technology to Power Near-Room Temperature Thermal ImagingLWIR Imagers with Superior Dynamic RangeBallistic Missile Defense Undergoes Seismic Changes with Electro-Optical SensorsDetection Using IR and Electro-Optical SensorsEffective Command & Control using Advanced SensorsNetworked Sensing Systems Hold Significance for Urban Target RecognitionEO/IR Systems and Motion Control Systems in Harsh EnvironmentsRobust Growth of Early Warning Systems to Present Market OpportunitiesFactors Influencing Future Developments & Multi-Spectral TargetingTechnological Advances to Bolster Market GrowthAdvances in Stabilization to Expand Boundaries of Electro-Optical Sensors for Military Use
FOCUS ON SELECT PLAYERS (Total 82 Featured)
BAE Systems PLCElbit Systems Ltd.General Dynamics CorporationAselsan A.S.Bharat Electronics Ltd.Excelitas Technologies CorporationBertin TechnologiesCantronic Systems (Canada), Inc.CONTROP Precision Technologies Ltd.HGH Systemes InfrarougesHensoldt Sensors GmbHAmerican 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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