Military electro-optics or infrared (EO or IR) systems comprise of inspection systems, optic sights, night vision systems, and helmet seated displays. The continuous development of this system facilitated 360-degree rotation, automated object detection, 24-hour situational awareness, and guidance for defense gunnery. The growing demand for battle space awareness by defense forces is bolstering the military electro-optics or infrared (EO or IR) systems market.
MARKET SCOPE
The "Global Military Electro-Optics or Infrared (EO or IR) Systems Market Analysis to 2028" is a specialized and in-depth study of the aerospace and defense industry with a special focus on the global market trend analysis. The report aims to provide an overview of the Military Electro-Optics or Infrared (EO or IR) Systems market with detailed market segmentation by system, sensor technology, imaging technology, wavelength, platform, and geography. The report provides key statistics on the market status of the leading Military Electro-Optics or Infrared (EO or IR) Systems market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- On the basis of system, the market is segmented as electronic support measure (ESM) targeting system, and imaging system.
- On basis of sensor technology, the market is segmented as scanning sensor, and staring sensor.
- On basis of imaging technology, the market is segmented as hyperspectral and multispectral.
- On the basis of wavelength, the market is segmented as short wavelength infrared, medium wavelength infrared, long wavelength infrared, near infrared, and ultraviolet.
- On the basis of platform, the market is segmented as air, naval, and land.
MARKET DYNAMICS
Drivers:
- The significant drivers of the military electro-optics or infrared (EO or IR) systems market is the rising deployment of electro-optics/infrared systems for unmanned vehicles.
- The growing development of electro-optics/ infrared systems to synchronize with conventional military systems is creating an opportunity for the military electro-optics or infrared (EO or IR) systems market in the forecast period.
Restraints:
- Technological constraints and design challenges may hinder the growth of the military electro-optics or infrared (EO or IR) systems market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Military Electro-Optics or Infrared (EO or IR) Systems market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive Porter's Five Forces analysis, highlighting the factors affecting the Military Electro-Optics or Infrared (EO or IR) Systems market in these regions
IMPACT OF COVID-19 ON MILITARY ELECTRO-OPTICS OR INFRARED (EO OR IR) SYSTEMS MARKET
The major players in the Military Electro-Optics or Infrared (EO or IR) Systems market includes BAE Systems, Lockheed Martin Corporation, and Northrop Grumman. The COVID-19 pandemic has severely impacted their businesses. Experts believe that COVID-19 could affect the Military Electro-Optics or Infrared (EO or IR) systems production globally, owing to factors such as manufacturing shutdown, the limited staff at manufacturing facilities, and shortage of equipment. However, the demand for technologies such as Electro-Optics or Infrared will remain unaffected in the military domain as the budgets for military related projects is expected to increase in the forecast period.
MARKET PLAYERS
The report covers key developments in the Military Electro-Optics or Infrared (EO or IR) Systems market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from Military Electro-Optics or Infrared (EO or IR) Systems market are anticipated to lucrative growth opportunities in the future with the rising demand for Military Electro-Optics or Infrared (EO or IR) Systems in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Military Electro-Optics or Infrared (EO or IR) Systems market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- BAE Systems
- Elbit Systems Ltd.
- Israel Aerospace Industries
- L3Harris Technologies, Inc.
- Lockheed Martin Corporation
- Northrop Grumman
- Rheinmetall AG
- Saab AB
- Thales Group
- Raytheon Technologies Corporation