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Military Electro-Optics & Infrared (EO-IR) Systems Market Set to Reach USD 10,040 Million by 2029

The global Military Electro-Optics & Infrared (EO-IR) Systems Market has seen substantial growth, with a projected value of USD 10,040 million by 2029, compared to USD 7,717.1 million in 2022. This growth is underpinned by a Compound Annual Growth Rate (CAGR) of 3.8% during the review period, which considers the impact of key events such as the COVID-19 pandemic and the Russia-Ukraine War.

Market Overview:

Modern warfare’s evolving nature is driving a growing demand for Intelligence, Surveillance, and Reconnaissance (ISR) capabilities. Military forces increasingly confront asymmetric threats like terrorism and insurgency, necessitating precise and reliable intelligence for threat identification and neutralization. Additionally, urban warfare scenarios have become common, where traditional ISR methods might not suffice. In such environments, EO/IR sensors offer real-time threat detection and tracking. ISR capabilities are also crucial for enhancing military operation efficiency, reducing risks, and enabling better decision-making in critical situations.

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Market Drivers:

  • Need for ISR: Military operations demand precise intelligence about enemy forces, terrain, and other battlefield aspects, driving the demand for EOIR sensors that provide real-time situational awareness and surveillance capabilities.
  • Changing Nature of Warfare: Modern warfare’s shift towards urban environments and asymmetric threats underscores the importance of accurate and real-time intelligence.

Market Challenges:

  • Cost Constraints: Integrating EOIR systems can be cost-intensive, limiting adoption among some potential users.
  • Technological Complexity: Implementing EOIR systems requires technical expertise and adaptation to new technologies.

Report Scope:

This comprehensive report offers a detailed analysis of the global Military Electro-Optics & Infrared (EO-IR) Systems market. It includes quantitative and qualitative analyses by manufacturers, region, country, type, and application. The report explores competitive factors, supply and demand trends, and key drivers affecting market dynamics. Additionally, it profiles selected competitors and provides market share estimates for leading players in 2023.

Key Features:

  • Global Military Electro-Optics & Infrared (EO-IR) Systems market size and forecasts, including consumption value ($ Million), sales quantity (K Units), and average selling prices (US$/Unit) for the years 2018-2029.
  • Market size and forecasts by region and country, including consumption value ($ Million), sales quantity (K Units), and average selling prices (US$/Unit) for the years 2018-2029.
  • Market size and forecasts by Type and Application, including consumption value ($ Million), sales quantity (K Units), and average selling prices (US$/Unit) for the years 2018-2029.
  • Market shares of main players, shipments in revenue ($ Million), sales quantity (K Units), and ASP (US$/Unit) for the years 2018-2023.

Key Manufacturers:

Key companies covered in this study include:

  • Northrop Grumman Corporation
  • Raytheon Technologies Corporation
  • L3Harris Technologies Inc.
  • Lockheed Martin Corporation
  • Thales Group
  • Aselsan AS
  • Teledyne FLIR
  • BAE System
  • Elbit System
  • Rheinmetall AG
  • Alpha Design Technologies

Market Segmentation:

  • Segment by Type:
    • Handheld System
    • EO/IR Payloads
  • Segment by Application:
    • Air Force
    • Navy
    • Army

Regional Analysis:

The report provides regional analysis for the following regions:

  • North America (United States, Canada, and Mexico)
  • Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
  • Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
  • South America (Brazil, Argentina, Colombia, and Rest of South America)
  • Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)

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