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Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global Military Electro-Optics/Infrared Systems market. Market segmentation includes Platform (Air, Land, Naval); System (Electronic Support Measure (ESM), Imaging System, Targeting System); Technology (Uncooled, Cooled); Imaging Technology (Multispectral, Hyperspectral).

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24 November 5:55 a.m., Silicon Valley, California - According to the new market research report, the global market for Military Electro-Optics/Infrared Systems is projected to grow at a CAGR of 5.4% reach US$14.3 Billion by 2027, supported by rising global focus on the aspects of security and safety, technological developments, and the requirement for better awareness of the battlefield among defense forces. The global Military Electro-Optics/Infrared Systems market will be reset to a new normal which going forwards in a post COVID-19 era will be continuously redefined and redesigned. Air EO/IR Systems, one of the segments analyzed and sized in this study, is forecast to grow at over 5.1% and reach a market size of US$9.4 billion by the end of the analysis period. The United States is forecast to readjust to a 5.3% CAGR. Within Europe, the worst affected by the pandemic, Germany will reach a market size of US$573 million growing at a CAGR of 4.6% over the next couple of years. In addition, over US$157 million worth of projected demand in the region will come from Rest of European markets. In Japan, the Air EO/IR Systems segment will reach a market size of US$366.4 million by the close of the analysis period. Facing a global backlash over the coronavirus outbreak and spread, China the world's second largest economy faces economic and geopolitical challenges including economic distancing which can likely put China's monopoly of global supply chains in crisis. The Air EO/IR Systems segment in this country against this backdrop will grow at a CAGR of 6.5% over the next couple of years to create an addressable market opportunity worth US$1.3 billion by the year 2027.

Electro-optical or EO systems refer to devices that make use of a mix of optics and electronics for generating, detecting and measuring radiation in the optical spectrum. Electro optical systems or infrared systems constitute imaging systems primarily used by law enforcement and military departments for achieving better situational awareness of environments, during daytime and nights, and even in conditions of low light. In the present day, military missions comprise intelligence, surveillance, and reconnaissance (ISR) missions in which EO/IR systems are important for data collection and for offering insights. The global military electro-optics/infrared system market is closely tied to the trends in the military and defense industries. The market is set to witness incremental growth in the coming years due to rising territorial disputes among countries, technological advances and the need to modernize existing systems. Further, growing number of unmanned vehicles and the rising use of these systems in such vehicles for surveillance purposes, increasing defense spends, and strong requirement to improve military ISR capabilities are also driving gains in the market. The rising trend of miniaturization and growing accuracy of the systems in addition to their increased reliability and cost effectiveness are propelling the use of these systems in various applications. Research efforts in the area of third generation nonlinear crystals, forward-looking infrared, smart seekers and sensors, sophisticated 3D visualization, laser radars, and hyperspectral and multispectral sensors, and persistent surveillance systems are resulting in the development of better EO/IR systems, and this is positively impacting the market. Demand for EO/IR systems is also being encouraged by the NCW (Network Centric Warfare) doctrines, which are at different implementation stages in key militaries globally.

Research Methodology
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. The views, opinions and findings presented are based on validated engagements from a total executive pool size of 9519. Among this pool, 1333 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 286 unique participations, a total of 129 validated responses were received as part of this report's primary research outreach program. We are unique in the industry to provide our clients with the validated list executive engagements and the complete project data stack.

Key Competitors Covered in the Report -
Northrop Grumman Corporation
Lockheed Martin Corporation
BAE Systems PLC
Thales Group
Collins Aerospace
Elbit Systems Ltd.
SAAB AB
L3Harris Technologies, Inc.
Israel Aerospace Industries Ltd.
Rheinmetall AG
Textron, Inc.

Segments Covered in the Report -
Platform (Air, Land, Naval)
System (Electronic Support Measure (ESM), Imaging System, Targeting System)
Technology (Uncooled, Cooled)
Imaging Technology (Multispectral, Hyperspectral)

Geographies Analyzed in the Report -
World
USA
Canada
Japan
China
Europe
France
Germany
Italy
UK
Rest of Europe
Asia-Pacific
Rest of World.

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About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (www.strategyr.com) is the world`s only influencer driven AI powered market research company. Serving more than 41,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for 33 years, offering the widest coverage of topics, geographic markets, competitive brands, and companies profiled.

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