Military Electro-Optics/Infrared (EO/IR) Systems Market worth 14.20 Billion USD by 2022 The report "Military Electro-Optics/Infrared (EO/IR) Systems Market by Platform, System (Targeting, Imaging), Technology (Uncooled, Cooled), Sensor Technology (Staring, Scanning), Imaging Technology (Hyperspectral, Multispectral), and Region - Global Forecast to 2022", The global military electro-optics/infrared systems market is estimated to be USD 10.15 Billion in 2016 and is projected to reach USD 14.20 Billion by 2022, at a CAGR of 5.75% from 2016 to 2022
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Early buyers will receive 10% customization on reports. Increased demand for battlespace awareness by defense forces and technological advancements resulting in improved efficiency of EO/IR systems are the major factors driving the military electro-optics/infrared systems market. The growing demand for border surveillance and situational awareness have resulted in increased use of UAVs. Increase in R&D activities in the aerospace & defense sector has contributed to the development of miniaturized and lightweight components and defense equipment, especially for airborne applications. Based on sensor technology, the staring sensor segment is projected to lead the military electrooptics/infrared systems market during the forecast period On the basis of sensor technology, the staring sensor segment is estimated to lead the military electro-optics/infrared systems market during the forecast period the due to an upsurge in demand for sensors, as they gather more radiation and are able to handle complex moving parts of sensors and cameras, which are required in the battlefield. Staring sensors are widely used in missile warning receivers and electronic warfare systems. They are preferred over scanning sensors, as they are cost efficient and have varied technological applications. Based on system, the imaging system segment is estimated to grow at the highest CAGR during the forecast period On the basis of system, the imaging system segment of the military electro-optics/infrared systems market is anticipated to grow at the highest CAGR during the forecast period, due to developments in advanced laser and infrared technologies. Imaging technologies can provide high-resolution 3D images to locate and identify a target at much longer ranges than is possible with existing optical systems. Several prototype optical surveillance and observation systems are expected to be developed that will demonstrate probabilities of recognition and identification at distances sufficient to allow standoff engagement and overcome atmospheric turbulence, which limit the ability of high-resolution optics.