Global Military Electro optical and infrared systems Market to reach USD XX billion by 2027.Global Military Electro optical and infrared systems Market is valued approximately at USD XX billion in 2020 and is anticipated to grow with a healthy growth rate of more than 2.51% over the forecast period 2021-2027. Electro-optical and infrared equipment is one of the most important parts of military operations. These systems consist of a diverse set of discrete technologies focused on mission requirements and target acquisitions. Electro optical and infrared systems are utilized in a variety of military applications, including land, aviation, and naval. Observation systems, optic sights, night vision systems, and helmet mounted displays are examples of airborne electro optical and infrared systems. Weapon-mounted sights, night vision goggles, vehicle-mounted optronics devices, laser rangefinders, thermal imagers, and designators are all examples of land-based electro optical and infrared systems. The market is driven by technological advancements resulting in improved efficiency of Eo/Ir systems and increased demand for battlespace awareness By defence forces. For instance, Safran Electronics & Defense signed a contract with Dassault Aviation in March 2021 to supply new generation EuroflirTM410 optronic (electro-optical) systems for two Falcon-based aircraft: a dozen Albatros derived from the Falcon 2000LXS and eight Falcon 50M Triton models upgraded as part of the French navy's programme to modernize its maritime surveillance and intervention aircraft. The Maritime Surveillance & Intervention Patrol (PATSIMAR) of France may now enhance its covert very-high-altitude observation capabilities and conduct at-sea search & rescue or zone surveillance operations even in the most severe situations with the help of advanced Euroflir 410 optronic devices. However, stagnant product life cycle may impede market growth over the forecast period of 2021-2027.
North America is the most important market for military electro optics and infrared equipment, accounting for the majority of sales. However, lower defence spending is expected to reduce market share during the projection period. Because of its large spending on acquisition and development of electro optical systems for various military platforms such as armored vehicles, aeroplane, naval vessels, unmanned aerial vehicles, helicopters, and submarines, the United States is the dominant market in North America. The majority of this technology's research and development is focused on the creation of lightweight, cost-effective, and robust systems that are suitable for serious operations.
Major market player included in this report are:
Lockheed Martin Corporation
BAE Systems PLC
Israel Aerospace Industries
Raytheon Technologies Corporation
FLIR Systems Inc.
Elbit Systems Ltd
L3Harris Technologies Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027.
Target Audience of the Global Military Electro optical and infrared systems Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers