1. Market Research
  2. > Aerospace and Defense
  3. > Defense Market Trends
Military Electro-Optical and Infrared Systems Market ‚ Segmented by Type, System, Platform and Geography - Analysis of Growth, Trends, and Forecast (2019 - 2024)

Military Electro-Optical and Infrared Systems Market ‚ Segmented by Type, System, Platform and Geography - Analysis of Growth, Trends, and Forecast (2019 - 2024)

  • August 2019
  • 130 pages
  • ID: 5815060
  • Format: PDF
  • By Mordor Intelligence LLP

Summary

Table of Contents

Search Inside

Market Overview
The military electro-optical and infrared systems market is anticipated to grow at a CAGR of 5.5% during the forecast period.
- The increasing military spending of many countries is fuelling the development and procurement of new and advanced systems that use a wide variety of sensors including EO/IR sensors.
- In the networked digital battlespace, the need for better sensors that can enhance situational awareness of the military personnel on the battlespace is increasing. This is anticipated to act as a major driving factor for the military electro-optical and infrared systems market.
- The increasing miniaturization and improving accuracy, along with high reliability and availability at low costs is propelling EO/IR systems utilization across all platforms.
- The significant investment in R&D and necessary certifications to meet military-grade requirements can act as challenges for the entry of new players in the market.

Key Market Trends
Sea-based Segment to Experience the Highest Growth During the Forecast Period

The sea-based segment of the market is anticipated to grow at the highest CAGR during the forecast period. The growth of territorial conflicts and border issues have led to increasing emphasis on surveillance, target detection, and target identification at sea. This is generating a need for better sensor systems that are highly reliable and are available at low costs for maritime patrol and improve situational awareness. Since 2014, the US Navy has been looking for persistent multispectral 360-degree electro-optical systems for its naval vessels. As of 2018, this need has not yet been fulfilled, and lots of systems are being tested on-board US ships working in cooperation with usual RADARs and surveillance systems. This system is expected to be the future of warfare and will be a very crucial deciding factor for victory and for keeping friendly casualties minimum. Similarly, the Safran Electronics & Defense Australasia was selected by Saab Australia, to provide the latest version of its Vigy Engage electro-optic sensor, as part of the situational awareness system, for the Royal Australian Navy’s SEA 1180 Offshore Patrol Vessel (OPV) project. The contract is expected to run over the 12-year OPV shipbuilding program, which is expected to include the delivery of 12 new ships to the Royal Australian Navy. Such on-going projects by navies of different countries are contributing to the growth of the segment during the forecast period.

Asia Pacific Region is Expected to Generate the Highest Demand During the Forecast Period

Asia Pacific region is expected to generate the highest demand for unmanned systems market during the forecast period. With the hike in military spending of some of the countries in the region along with increasing territorial issues, the armed forces in this region are now investing heavily in soldier modernization and equipment modernization programs. For instance, in late 2018, Electro-Optics Industries (Elop) was selected by the Korean Air Force to supply real-time electro-optical/infrared (EO/IR) long-range oblique imagery systems for its F-16 aircraft. The increasing procurement of aircraft, UAVs, rotorcraft, etc., for surveillance missions and maritime patrol, are anticipated to generate demand for better sensors systems like EO/IR sensors embedded in them. Recently, on February 2019, the Singapore Navy displayed one of its two newest Sikorsky S-70B Seahawk helicopters at the Singapore Airshow. The new aircraft has updated avionics software and features that allow tactical coordination officers to operate electro-optical turret mounted on the nose. Such developments in the defense industry of Asia-Pacific are expected to boost the growth of the market in the coming future.

Competitive Landscape
The market of EO/IR systems is a highly fragmented market with many suppliers who provide EO/IR sensors and EO/IR systems. Some of the prominent players in the market are L3Harris Technologies, Inc., Leonardo DRS, Lockheed Martin Corporation, Elbit Systems Ltd., and Raytheon Company. The development of new technologies and products is anticipated to help the companies to gain customers for expansion into new ventures and increase their geographic presence. For instance, in 2018, Lockheed Martin claimed to develop µLAD SW/MW IR camera core, a new dual-band IR camera core, which is the industry-first mid- and short-wave IR camera in the footprint of the single-band sensor. Such developments are anticipated to support the revenue and profit margins of the company. Also, the brand value is anticipated to act as a major factor in receiving the contracts from the armed forces around. The high R&D cost and stringent regulations for military certifications are expected to act as the barriers for the entry of new players into the market.

Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client’s requirements
- 3 months of analyst support

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.
Ahmad helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at researchadvisor@reportlinker.com to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - researchadvisor@reportlinker.com or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers
Global Military Navigation Industry

Global Military Navigation Industry

  • $ 5450
  • October 2019

Military Navigation market worldwide is projected to grow by US$4.2 Billion, driven by a compounded growth of 6.1%. Ammunition, one of the segments analyzed and sized in this study, displays the potential ...

Global Advanced Combat Helmet Industry

Global Advanced Combat Helmet Industry

  • $ 4950
  • October 2019

Advanced Combat Helmet market worldwide is projected to grow by US$919.2 Million, driven by a compounded growth of 6%. Military & Defense, one of the segments analyzed and sized in this study, displays ...

Global Battlefield Management System (BMS) Industry

Global Battlefield Management System (BMS) Industry

  • $ 4950
  • October 2019

Battlefield Management System (BMS) market worldwide is projected to grow by US$6.3 Billion, driven by a compounded growth of 5.4%. Headquarter, one of the segments analyzed and sized in this study, displays ...

Global CBRN Defense Industry $ 4950 October 2019

Global Military Antenna Industry $ 4950 October 2019

Global Military Robots Industry $ 4950 October 2019


ref:plp2019

Reportlinker.com © Copyright 2019. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on