Military Electro-Optics/Infrared (EO/IR) Systems Market Expansion Outlook: $13.76 Billion by 2029 Forecast
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What Are The Forecasted Market Size Estimates For The Military Electro-Optics/Infrared (EO/IR) Systems Market Between 2025 And 2029?
The global market for military electro-optics and infrared (EO/IR) systems has shown consistent upward movement lately, projected to expand from its current valuation of $10.29 billion in 2024 to $10.77 billion by 2025, reflecting a steady compound annual growth rate (CAGR) of 4.6%; this preceding period of expansion was fueled by escalating conflict situations and heightened security threats, the ongoing upgrading of defense platforms, ongoing counterinsurgency efforts, rising necessity for stringent border monitoring, and essential search and rescue activities.
Anticipating robust expansion, the military electro-optics/infrared (EO/IR) systems sector is slated for substantial growth over the ensuing years, projected to reach a valuation of $13.76 billion by 2029, driven by a compound annual growth rate (CAGR) of 6.3%, with fueling factors including escalating geopolitical turbulence, increased prioritization of unmanned platforms, the necessity for counter-drone solutions, improvements in targeting efficacy and fire management, alongside demands arising from natural disaster relief efforts. Key developments shaping this market trajectory encompass the melding of these systems with command and control (C2) platforms, advancements in three-dimensional imaging techniques, progress within image processing algorithms, heightened attention toward securing EO/IR technologies against cyber threats, and the deployment of these systems within urban combat settings and against irregular adversaries.
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Which Drivers Are Supporting Growth Of The Military Electro-Optics/Infrared (EO/IR) Systems Market?
The rising demand for intelligence, surveillance, and reconnaissance capabilities is anticipated to be a major catalyst for the expansion of the market encompassing military electro-optics and infrared (EO/IR) systems. ISR, a military designation involving the synchronized collection, administration, and sharing of accurate, up-to-date data and intelligence to assist a commander’s choices, is becoming significantly more important. Sensor technology within Electro-Optical Infra-Red (EO/IR) systems provides essential support for distributed ISR functions across various military assets, including aerial, ground, and maritime platforms. Demonstrating this trend, by March 2022, the Defense Intelligence Agency, a US entity focused on intelligence and combat support, reported the existence of 550 ISR satellites designated to support military operations throughout that year, a substantial increase from approximately 100 ISR satellites present ten years prior. Moreover, evidence of increased adoption comes from Skykam Technical Inspection, a UK firm specializing in UAV building inspection services, which noted in December 2022 that the FAA had recorded 855,860 drones in the United States as of 2023, with 37 percent of those registrations, equaling 316,075 units, designated for commercial applications frequently involving ISR activities. Consequently, the intensifying requirement for comprehensive intelligence, surveillance, and reconnaissance functions serves as the primary impetus behind the trajectory of the military EO/IR systems market.
What Are The Different Segment Classifications Within The Military Electro-Optics/Infrared (EO/IR) Systems Market?
The military electro-optics/infrared (eo/ir) systems market covered in this report is segmented –
1) By Product Type: Handheld System, EO/IR Payload.
2) By Component: Human Machine Interfaces, Stabilization Units, Control Systems, Optics, Sensors, Processor.
3) By Imaging Technology: Scanning, Starring, Hyperspectral, Multispectral.
4) By Platform: Land, Airborne, Naval.
5) By Application: Military Intelligence, Surveillance, Reconnaissance.
Subsegments:
1) By Handheld System: Portable Thermal Imaging Devices, Night Vision Goggles, Handheld Multi-Sensor Systems, Tactical Thermal Monoculars
2) By EO Or IR Payload: UAV Payloads, Ground Vehicle Mounted Systems, Maritime EO Or IR Systems, Aerial Surveillance Payloads
How Are Trends Influencing The Military Electro-Optics/Infrared (EO/IR) Systems Market?
A major current movement within the military electro-optics/infrared (EO/IR) systems sector involves the incorporation of artificial intelligence, with numerous market participants centering their efforts on AI integration as a means of securing their ongoing relevance. As an illustration of this trend, in April of 2023, the American aerospace and defense giant, Raytheon Technologies Corporation, introduced RAIVEN, an intelligent sensing feature designed for electro-optics and infrared (EO/IR) applications. This RAIVEN system is engineered to bolster the resilience of the host platform and safeguard military personnel through the delivery of accurate, continuous observation of targets coupled with swift communication of intelligence. The sophisticated ‘intelligent-sensing’ function embedded in RAIVEN grants users the ability to observe targets with accuracy and at distances up to five times greater than standard optical visualization tools, owing to its fusion of artificial intelligence technologies with hyperspectral imaging and light detection and ranging (LiDAR) capabilities, thereby enhancing operational survivability and conferring a crucial tactical advantage upon the combatant facing opposing forces.
Which Key Market Players Are Investing In Expansion And Innovation Of Military Electro-Optics/Infrared (EO/IR) Systems Market?
Major companies operating in the military electro-optics/infrared (EO/IR) systems market include Raytheon Technologies Corporation, Lockheed Martin Corporation, Northrop Grumman Corporation, Thales Group, L3Harris Technologies Inc., BAE Systems PLC, Leonardo SpA, Elbit Systems Ltd., Rheinmetall AG, Ultra Electronics Holdings, Theon Sensors SA, Safran SA, Excelitas Technologies Corp., General Dynamics Corporation, PVP Advanced EO Inc., Textron Inc, Teledyne FLIR, Leidos Holdings Inc., Logos Technologies, Moog Inc., Apie Group, The Boeing Co., CONTROP Precision Technologies, Alpha Design Technologies, SPI Corp, Tonbo Imaging, UTC Aerospace Systems, Zhejiang Dali Technology Co. Ltd., Luminator Technology Group, Curtiss-Wright Corporation
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Which Geographies Are Emerging As Strong Markets For The Military Electro-Optics/Infrared (EO/IR) Systems Industry?
North America was the largest region in the military electro-Optics/Infrared (EO/IR) Systems market in 2024. The regions covered in the military electro-optics/infrared (EO/IR) systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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