The Business Research Company's Military Electro-Optics/Infrared (EO/IR) Systems Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, August 13, 2024 /EINPresswire.com/ -- The military electro-optics/infrared (EO/IR) systems market has experienced robust growth in recent years, expanding from $9.75 billion in 2023 to $10.47 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to increased threats and conflicts, modernization of military platforms, counterinsurgency operations, border surveillance requirements, search and rescue missions.

Strong Future Growth Anticipated
The military electro-optics/infrared (EO/IR) systems market is projected to continue its strong growth, reaching $13.54 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to geopolitical instabilities, growing emphasis on unmanned systems, counter-drone capabilities, enhanced targeting and fire control, natural disaster response.

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Growth Driver Of The Military Electro-Optics/Infrared (EO/IR) Systems Market
The growing need for intelligence, surveillance, and reconnaissance (ISR) is expected to propel the growth of the military electro-optics and infrared (EO/IR) systems market going forward. ISR, also known as intelligence, surveillance, and reconnaissance, is a military term that refers to the coordinated gathering, management, and dissemination of precise, timely information and intelligence to aid a commander's decision-making. Electro-Optical Infra-Red (EO/IR) system sensor technology supports distributed intelligence, surveillance, and reconnaissance (ISR) for military airborne, land-based, and naval platforms.

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Major Players And Market Trends
Key players 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.
Major companies operating in the military electro-optics/infrared (EO/IR) systems market are focused on product innovations such as Point Blank to provide tactical units ranging in size from small tactical teams. The point-blank missile aims to enhance tactical units' lethality by providing an independent capability. Hand-launched and operated by a single soldier, it uses advanced electro-optical systems to validate and collect real-time surveillance information, enabling high-precision target targeting and real-time target strikes.

Segments:
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.

Geographical Insights: North America Leading The Market
North America was the largest region in the military electro-Optics/Infrared (EO/IR) Systems market in 2023. 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

Military Electro-Optics/Infrared (EO/IR) Systems Market Definition
A military electro-optics/infrared (EO/IR) system refers to a technological system that combines both electro-optics and infrared capabilities to gather and process information from the electromagnetic spectrum. It integrates various devices and components to enable the detection, imaging, tracking, and analysis of targets or objects using both visible light and infrared radiation.

Military Electro-Optics/Infrared (EO/IR) Systems Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Military Electro-Optics/Infrared (EO/IR) Systems Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on military electro-optics/infrared (EO/IR) systems market size, military electro-optics/infrared (EO/IR) systems market drivers and trends, military electro-optics/infrared (EO/IR) systems market major players, military electro-optics/infrared (EO/IR) systems competitors' revenues, military electro-optics/infrared (EO/IR) systems market positioning, and military electro-optics/infrared (EO/IR) systems market growth across geographies. The military electro-optics/infrared (EO/IR) systems market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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