The Global Military EO/IR Systems Market is Expected to Grow at a CAGR of 4.66%
The latest report, now available on ASDReports, expects the global EO/IR systems market to value US$9.1 billion in 2015 – a figure forecast to reach US$14.3 billion in 2025. EO/IR systems gather high-resolution electro-optic (EO) data during daylight and infrared (IR) imagery during the night. Globally, the need for advanced situational awareness and information dissemination is rising, making EO/IR systems a highly sought-after commodity. Many countries are investing in the development and procurement of several EO/IR based aircraft, naval vessels, ground vehicles and UAV payload systems.
Huge demand for EO/IR for UAVs and aircraft
Most of the ISR activities in a conflict zone are performed by unmanned aerial vehicles (UAVs) and aircraft. This has created a worldwide demand for airborne EO/IR systems. Aircraft now incorporate a number of EO/IR systems such as targeting and navigation pods, or infrared search and track (IRST) systems. “The arrival of UAVs has provided substantial impetus to the EO/IR market, as these unmanned vehicles are highly endurable and are thus capable of carrying more weight during take-off,” says Kar.
Technological innovations drive adoption of EO/IR
According to SDI, technological innovations are also responsible for the widespread incorporation of EO/IR systems. New versions of EO/IR systems provide higher-resolution images, while simultaneously reducing size and power consumption so that more cameras can be used on platforms that are less expensive. “This is also one of the major reasons why EO/IR systems – once only available to elite Special Forces – are now prevalent in regular army units,” adds Kar.
Report Scope: Global Military Electro Optical Infrared (EO/IR) Systems Market 2015-2025
This report offers detailed analysis of the global military EO/IR systems market with market size forecasts covering the next ten years. This report will also analyze factors that influence demand for the global military EO/IR systems market, key market trends, and challenges faced by industry participants. In particular, it provides an in-depth analysis of the following:
The Global Military Electro Optical Infrared (EO/IR) Systems Market 2015-2025
- Global military EO/IR systems market size and drivers: detailed analysis of the global military EO/IR systems market during 2015-2025, including highlights of the demand drivers and growth stimulators for military EO/IR systems. 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 in the global military EO/IR systems market, and a detailed analysis of the changing preferences of global military EO/IR systems market departments around the world. It also provides trends of the changing industry structure and the challenges faced by the industry participants
- SWOT analysis of global military EO/IR systems market: analysis of the industry characteristics by determining the strengths, weaknesses, opportunities, and threats faced by the global military EO/IR systems industry.
- Global military EO/IR systems market country analysis: analysis of the key markets in each region, providing an analysis of the key segments of the global military EO/IR systems market industry expected to be in demand in each region
- Major programs: details of the key programs in each segment, which are expected to be executed during the forecast period
- Competitive landscape and strategic insights: analysis of the competitive landscape of the global military EO/IR systems market. It provides an overview of key players, together with insights such as key alliances, strategic initiatives, and a brief financial analysis
Source : ASDReports - Market Research - view original press release