Global Military Electro Optical Infrared Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Military Electro Optical Infrared Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

The unique capabilities of electro-optical imagery, infrared Imaging System, night vision systems and laser and range finding tools has meant that EO/IR systems are now vital components to both lead and support a diverse range of military operations.

Market Overview:

The latest research study on the global Military Electro Optical Infrared market finds that the global Military Electro Optical Infrared market reached a value of USD 13055.72 million in 2022. It’s expected that the market will achieve USD 16733.68 million by 2028, exhibiting a CAGR of 4.22% during the forecast period.The growth of the military electro optical infrared market is largely driven by downstream developments. Long product life cycle is a major constraint on the development of military EO / IR systems. EO / IR systems have a life cycle of 15-20 years, before they are upgraded. Therefore, the market's technology is very easy to stand still for a long time. The military EO / IR system market is also heavily reliant on new aircraft routes, as well as new armored vehicles, vessels and submarines. With the fast growing market of military aircraft market, such as F35 series, will promote the consumption of EO / IR systems around the world for the next few years.

Driving Factors

Rapidly changing requirements of military forces for traditional and emerging war techniques, the heightened need for Intelligence, Surveillance and Reconnaissance (ISR) activities and modernization initiatives being undertaken by defense ministries across the world are boosting the demand for military EO/IR systems globally.

Market Restraints

Technology concentrated Lack of talent

Opportunities

Government policy support Military security development areas

Region Overview:

North America was the largest revenue market with a market share of 66.35% in 2012 and 64.24% in 2017 with a decrease of 2.11%, Europe ranked the second market with the market share of 22.67% in 2016.

Company Overview

The top three companies are Lockheed Martin Corporation, Thales Group, Raytheon Company, with the revenue market share of 17.68%, 10.92%, and 7.10%, in 2016.

Segmentation Overview:

Targeting SystemAn Electro-Optical Targeting System (EOTS), is a system employed to track and locate targets in aerial warfare. It can employ Charge-coupled device TV camera, Laser rangefinder and Laser designator.

Imaging System

EO/IR imaging system is designed for small tactical UAVs, light manned Intelligence, Surveillance and Reconnaissance (ISR) aircraft, and tactical aerostats requiring high-performing imaging solutions.

Application Overview:

AirborneThe widest range of applications, especially in the area of reconnaissance and data acquisition, High-end products and services, such as the F-35 fighter equipped system, and FLIR's Star SAFIRE 380-HD system

Ground

Used in armored vehicles, tanks and other ground defense systems. Electro-optical systems can be incorporated into unmanned vehicles to provide a wide range of functions, including target acquisition, rangefinding, imaging and surveillance.

Naval

Motion imagery from EO/IR sensors that provide day-night, long-range eyes on target, which improves the user's ability to identify targets, perform threat assessment, assess intent in accordance with the rules of engagement, and support weapons engagement through automatic tracking and fire control solutions through line-of-sight. The sensors also support assessment of engagement effectiveness. One of the fast-growing downstream markets.

Key Companies in the global Military Electro Optical Infrared market covered in Chapter 3:

Thales GroupBAE Systems plcFLIR Systems IncElbit Systems LtdDRS TechnologiesSafranNorthrop Grumman CorporationL-3 Communications CorporationRaytheon CompanyUTC AerospaceCorningLockheed Martin Corporation

In Chapter 4 and Chapter 14.2, on the basis of types, the Military Electro Optical Infrared market from 2018 to 2029 is primarily split into:

Targeting SystemImaging SystemOther

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Military Electro Optical Infrared market from 2018 to 2029 covers:

AirborneGroundNaval

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)Latin America (Brazil, Mexico, Argentina)Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)