The increasing complexities in modern day war techniques have resulted in a heightened requirement for Intelligence, Surveillance and Reconnaissance (ISR) activities, which has resulted in several key defense spenders to invest heavily in the research and development of ISR systems, such as thermal sights, infrared vision systems, and laser target designators.
The rising demand for new sighting devices as well as wearable night vision and thermal imaging systems is therefore contributing significantly to the growth of the global military EO/IR systems market.
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The global military EO/IR systems market, valued at US$11 billion in 2017, is projected to grow at a CAGR of 2.64% over the forecast period, to reach US$14.3 billion by 2027 and cumulatively value US$123.6 billion. The market consists of three categories: airborne, ground-based and naval.
The market is expected to be dominated by airborne segment, which will account for 64.1% of the market, followed by ground-based and naval segments with shares of 28.5% and 7.4% respectively. North America is projected to dominate the sector with a share of 32.8%, followed by Asia Pacific, with an estimated share of 31.4%
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Reason to Access:
- Determine prospective investment areas based on a detailed trend analysis of the global military EO/IR systems market over the next ten years
- Gain in-depth understanding about 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 military EO/IR systems market, providing a clear picture about 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 military EO/IR systems market
- Make correct business decisions based on thorough analysis of the total competitive landscape of the sector with detailed profiles of the top EO/IR solution providers around the world which include information about their products, alliances, recent contract wins and financial analysis wherever available
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