Military Electro-Optical/Infrared (EO/IR) Systems Market Size and Trend Analysis including Segments (Man-Portable EO/IR, Airborne Platform EO/IR, Land Platform EO/IR, Space Platform EO/IR and Naval Platform EO/IR), Key Programs, Competitive Landscape and Forecast, 2021-2031
The global military electro-optical/infrared (EO/IR) systems market is valued at $9.2 billion in 2021 and is projected to grow at a CAGR of more than 3% during the forecast period 2022-2031. The North American region represented the largest region for the global military EO/IR systems market in 2021, followed by Asia-Pacific and Europe. The demand for military EO/IR systems is anticipated to be driven by the increased need for battlespace awareness by defense forces and technological advancements to improve the effectiveness of EO/IR systems. The integration of technologically advanced EO/IR systems into modern warfare platforms to obtain information superiority and situational awareness is expected to be a major factor driving the expenditure in this sector. This trend is further supported by increasing investments by major militaries in targeting systems, high-resolution payloads, and other systems.
Global military electro-optical/infrared (EO/IR) systems market overview
For more insights on this report, download a free sample
What are the global military electro-optical/infrared (EO/IR) systems market dynamics?
Major factors such as the need to improve response time and to reduce mission completion time are driving the adoption rate of EO/IR systems in the global defense sector. The increasing need for ISR capabilities and the acquisition of unmanned platforms are expected to fuel the growth of EO/IR systems. These operations are supported by the real-time imagery provided by EO/IR sensors that help the users in identifying targets, assessing incoming threats, and supporting weapons engagement. As a result, many defense forces across the globe have recognized the importance of EO/IR sensors mounted on moving platforms in performing critical missions, which is anticipated to drive investment in the market for military EO/IR systems over the forecast period. The integration of technologically advanced EO/IR systems into modern warfare platforms to obtain information superiority and situational awareness is expected to be a major factor driving the expenditure in this sector.
With the advancement of military technologies, miniaturization is one of the biggest challenges faced by the EO/IR sector in recent times and it is expected to become more important during the forecast period.
Tactical Big Data structuration currently poses a key challenge for technical developers. Expensive bandwidth in limited infrastructure and oceanic environments have become a major hindrance in routine operations and data replication Similarly, concerns over cyber threats and data leakage are key challenges being evaluated by military forces worldwide.
What are the product segment classifications in the global military electro-optical/infrared (EO/IR) systems market?
The market consists of five categories namely, Man-Portable EO/IR, Airborne Platform EO/IR, Land Platform EO/IR, Space Platform EO/IR, and Naval Platform EO/IR. Over the period 2022-2031, the market is expected to be dominated by the Man-Portable EO/IR segment, followed by the Airborne Platform EO/IR and Land Platform EO/IR segment.
Global military electro-optical/infrared (EO/IR) systems market, by product
For more segment insights, download a free sample
What are the top regions and countries for the global military electro-optical/infrared (EO/IR) systems market?
The global EO/IR Systems market over the forecast period is expected to be led by the North American region, followed by the Asia-Pacific and Europe. The Middle East, Africa, and Latin America together are anticipated to account for the remaining market. The US is the leader in the research and development of military EO/IR systems and related technologies. China accounts for the largest market for EO/IR Systems in the Asia-Pacific region, other top spenders in the region include India and South Korea. Similarly, Russia to lead the European market for EO/IR Systems.
Global military electro-optical/infrared (EO/IR) systems market, by region
For more regional insights, download a free sample
Who are the key companies in the global military electro-optical/infrared (EO/IR) systems market?
Companies such as Microsoft Corp, Lockheed Martin Corp, Raytheon Technologies Corp, Theon Sensors SA, L3 Harris Technologies Inc, Leonardo SpA, Northrop Grumman Corp, Safran SA, Elbit Systems Ltd, and Teledyne Technologies Inc. are the key players in the global military electro-optical/infrared (EO/IR) systems market.
Global military electro-optical/infrared (EO/IR) systems market, by key company
To know more about key players, download a free sample
Market report scope
| Market size (Year-2021) | $9.2 billion |
| Growth rate | CAGR of >3% from 2022 to 2031 |
| Base year for estimation | 2021 |
| Product segmentation | Man-Portable EO/IR, Airborne Platform EO/IR, Land Platform EO/IR, Space Platform EO/IR, and Naval Platform EO/IR |
| Regional coverage | North America, Europe, Asia-Pacific, Middle East, Africa, and Latin America |
| Forecast period | 2022-2031 |
| Key companies | Microsoft Corp, Lockheed Martin Corp, Raytheon Technologies Corp, Theon Sensors SA, L3 Harris Technologies Inc, Leonardo SpA, Northrop Grumman Corp, Safran SA, Elbit Systems Ltd, and Teledyne Technologies Inc. |
What else is contained:
- Market size and drivers: Detailed analysis during 2021-2031, including highlights of the demand drivers and growth. It also provides a snapshot of the spending and modernization patterns of different regions around the world.
- Recent developments and industry challenges: Insights into technological developments and a detailed analysis of the existing military EO/IR Systems projects being executed and planned worldwide. It also provides trends of the changing industry structure and the challenges faced by industry participants.
- Regional highlights: study of the key markets in each region, providing an analysis of the key segments of the market that are expected to be in demand.
- Major programs: details of the key programs in each segment, which are expected to be executed during 2021-2031.
- Competitive landscape and strategic insights: analysis of the competitive landscape of the global EO/IR Systems market. It provides an overview of key players, their strategic initiatives, and financial analysis.
Reasons to Buy
- Determine prospective investment areas based on a detailed trend analysis of the global military electro-optical/infrared (EO/IR) systems over the next ten years.
- Gain an in-depth understanding of the underlying factors driving demand for different EO/IR Systems segments in the top spending countries across the world and identify the opportunities offered by each of them.
- Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others.
- Identify the major channels that are driving the global EO/IR Systems market, providing a clear picture of future opportunities that can be tapped, resulting in revenue expansion.
- Channelize resources by focusing on the ongoing programs that are being undertaken by the defense ministries of different countries within the global EO/IR Systems market.
- Make correct business decisions based on in-depth analysis of the competitive landscape consisting of detailed profiles of the top EO/IR Systems providers around the world. The company profiles also include information about the key products, alliances, recent contracts awarded, and financial analysis, wherever available.
Key Players
Table of Contents
Frequently Asked Questions
The global military electro-optical/infrared (EO/IR) systems market size was estimated at $9.2 billion in 2021.
The global military electro-optical/infrared (EO/IR) systems market is expected to grow at a compound annual growth rate of more than 3% from 2022 to 2031.
North America represented the largest region for the global military electro-optical/infrared (EO/IR) systems market in 2021, followed by Asia-Pacific and Europe.
Companies such as Microsoft Corp, Lockheed Martin Corp, Raytheon Technologies Corp, Theon Sensors SA, L3 Harris Technologies Inc, Leonardo SpA, Northrop Grumman Corp, Safran SA, Elbit Systems Ltd, and Teledyne Technologies Inc. are the key players in the global military electro-optical/infrared (EO/IR) systems market.
The high-potential countries for the global military electro-optical/infrared (EO/IR) systems market include the US, China, India, South Korea, Russia, the UK, France, Saudi Arabia, the UAE, Israel, Algeria, and Brazil.
Get in touch to find out about our multi-purchase discounts
reportstore@globaldata.com
Tel +44 (0) 20 7947 2960
Every customer’s requirement is unique. We understand that and can customize the report basis your exact research requirements pertaining to market insights, innovation insights, strategy and planning, and competitive intelligence. You can also avail the option of purchasing stand-alone sections of the report or request for a country specific report.
Testimonial
“The GlobalData platform is our go-to tool for intelligence services. GlobalData provides an easy way to access comprehensive intelligence data around multiple sectors, which essentially makes it a one-for-all intelligence platform, for tendering and approaching customers.
GlobalData is very customer orientated, with a high degree of personalised services, which benefits everyday use. The highly detailed project intelligence and forecast reports can be utilised across multiple departments and workflow scopes, from operational to strategic level, and often support strategic decisions. GlobalData Analytics and visualisation solutions has contributed positively when preparing management presentations and strategic papers.”
“COVID-19 has caused significant interference to our business and the COVID-19 intelligence from GlobalData has helped us reach better decisions around strategy. These two highlights have helped enormously to understand the projections into the future concerning our business units, we also utilise the project database to source new projects for Liebherr-Werk to use as an additional source to pitch for new business.”
Your daily news has saved me a lot of time and keeps me up-to-date with what is happening in the market, I like that you almost always have a link to the source origin. We also use your market data in our Strategic Business Process to support our business decisions. By having everything in one place on the Intelligence Center it has saved me a lot of time versus looking on different sources, the alert function also helps with this.
Having used several other market research companies, I find that GlobalData manages to provide that ‘difficult-to-get’ market data that others can’t, as well as very diverse and complete consumer surveys.
Related reports
View more Land reports