About Military Electro-optical and Infrared Systems
EO/IR systems are an essential part of military operations. These systems encompass a broad array of distinct technologies that are based on target acquisitions and mission requirements. Such EO/IR systems are used in different military applications like airborne, land-based, and naval. Some of the airborne EO/IR systems are optic sights, observation systems, helmet mounted displays, and night vision systems. Land-based EO/IR systems include night vision goggles, weapon mounted sights, vehicle mounted optronics devices, thermal imagers, laser rangefinders, and designators. Naval based EO/IR systems include thermal imagery systems, infrared imaging and detectors, optronics mast systems, and surveillance and tracking systems. These systems assist in the battlefield with better visibility, tracking, and targeting of enemy locations.
Technavio’s analysts forecast the global military electro-optical and infrared systems market to grow at a CAGR of 6.63% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global military electro-optical and infrared systems market for 2016-2020. To calculate the market size, the report considers the revenue generated in the overall market from the procurement of new EO/IR systems.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Military Electro-optical and Infrared Systems Market 2016-2020
Technavio recognizes the following companies as the key players in the global military electro-optical and infrared systems market: BAE Systems, Elbit Systems, Lockheed Martin, Raytheon, and Thales.
Other prominent vendors in the market are: EO/IR systems market include CONTROP Precision Technologies, DRS Technologies, General Dynamics, Harris, Israel Aerospace Industries, L-3 Communications, and Saab.
Commenting on the report, an analyst from Technavio’s team said: “One of latest trends in the market is adoption of sensor fusion technology. As the demand for sensor-based systems grows within defense operations, the need for engaging more trained professional for data parsing is also increasing. This is to ensure a shortening of the period of time consumed during the transition of raw data into an actual set of useable information. This entire process can substantially increase the operating expenses of military agencies. Therefore, military agencies are focusing on adopting alternative approaches like sensor fusion technology, which advocates the amalgamation of an assortment of sensors supported by an integrated software that can deliver final products instead of a set of raw data. In July 2015, the US Army began a feasibility study for the potential development of multispectral sensor fusion technology with an objective to aid helicopter pilots in degraded visual environment conditions.”
According to the report, one of the primary drivers in the market is greater emphasis on situational awareness. The idea of enhancing situational awareness capabilities within military agencies advocates the organized acquisition and comprehension of elements and events that are used to dominate in combat situations, as well as establish national security countermeasure policies. Situational awareness has been recognized as one of the most critical aspects of defense practices, which corroborates the decision-making process of defense agencies. Over the last two decades, the increasing adoption of digitization among military agencies has been the key reason propelling the advancement in EO/IR sensor technologies. These sensors, with the help of data processing systems, serve as an integral resource for military agencies in surveillance applications.
Further, the report states that one major challenge in the market is barriers to adoption of new technology and equipment. Vendors in this market are required to adhere to the stringent regulatory norms of different countries. There are many vendors that work with government agencies and departments of defense within the countries. In addition, military forces are facing difficulties in adoption of new technologies, as they soon become outdated. Also, with the evolution of new technologies, vendors need to update their EO/IR systems. EO/IR systems that are in the inventory of the company lose their market value due to the evolution and adoption of new technologies. Incorporating such technological changes into existing EO/IR entails large expenditure, which ultimately increases the cost of the EO/IR systems. Many organizations are delaying the purchase of EO/IR systems to procure more efficient and compact systems that are still in the making.
BAE Systems, Elbit Systems, Lockheed Martin, Raytheon, Thales, EO/IR systems market include CONTROP Precision Technologies, DRS Technologies, General Dynamics, Harris, Israel Aerospace Industries, L-3 Communications, Saab.
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