Military Electro-optics/Infrared (EO/IR) Systems Market Size
Military Electro-Optics/Infrared Systems Market size exceeded USD 5 billion in 2022 and is anticipated to register more than 6% CAGR during 2023-2032.
The market growth is based on the increasing demand for Intelligence, Surveillance, and Reconnaissance (ISR).
Consider a battlefield where every step counts. To be successful, military commanders must know as much as possible about their opponents, the environment, and the situation overall. Enter surveillance, intelligence, and reconnaissance (ISR) capabilities, which function like the eyes and ears of the military on the ground. ISR assists the military in collecting important information regarding enemy locations, the terrain, and so on. This information is akin to a blueprint for commanders, informing them on how to make the optimal decisions and evaluating how effectively their plans are operating. A very important component of ISR is electro-optical/infrared (EO/IR) sensors. These sophisticated devices give immediate pictures and information about the battlefield. They are able to detect the possibility of threats in any situation, even at night or during fog. With the changing nature of warfare, ISR capabilities are needed more than ever. EO/IR systems are used by militaries to detect and eliminate threats, even in complicate cases such as terrorism and insurgency. The increasing demand is fueling the rapid growth of the ISR market.
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Military Electro-optics/Infrared (EO/IR) Systems Market Report Attributes
Report Attribute Details
Base Year 2022
Military Electro-optics/Infrared (EO/IR) Systems Market Size in 2022 USD 5 Billion
Forecast Period 2023 to 2032
Forecast Period 2023 to 2032 CAGR 6%
2032 Value Projection USD 15 Billion
Historical Data for 2018 – 2022
No. of Pages 200
Tables, Charts & Figures 341
Segments covered Platform, Sensor Technology, Product Type, Application
Growth Drivers
Growing need for Intelligence, Surveillance, and Reconnaissance (ISR)
Increasing demand for advanced situational awareness
Development of advanced technologies
Growing use of unmanned aerial vehicles (UAVs) or drones
Modernization of military forces
Pitfalls & Challenges
Integrating complexity of EO/IR System with extensive array of platforms
Austere development and manufacturing expenses
What are the growth opportunities in this market?
It is challenging to integrate an EO/IR system with standalone solutions to a desirable extent. The integration of an EO/IR system’s gun systems, ISR system, and CS41 system requires huge financial outlays and power supplies. Command & radar systems, control systems, and communication networks need to be integrated with EO/IR systems in order to ensure compatibility and best performance. Integration can be challenging and may involve heavy modification & testing, limiting military electro-optics/infrared systems market growth.
COVID-19 Impacts
Governments across the globe announced nationwide lockdowns during the COVID-19 pandemic, disrupting different businesses. Defense equipment production activities were also affected. Most nations reduced their defense expenditure because of weakened economies and greater focus on healthcare expenditure, adversely affecting the military electro-optics/infrared systems market. The lockdown impacted the supply of raw materials used to produce military electro-optics/infrared equipment, and there was limited labor for producing military electro-optics infrared equipment as a result of travel limitations and social isolation. The defense sector, therefore, experienced a small setback amid the pandemic.
Military Electro-optics/Infrared (EO/IR) Systems Business Trends
The business for military electro-optics/infrared systems is booming and continues to show no signs of declining. Here’s whyMilitary expenditure is increasing.Nations across the globe are spending massively on upgrading their military forces. This is putting pressure on the demand for high-tech surveillance and targeting equipment. Tensions run high. Threats and global conflicts are fueling the demand for improved ways of monitoring and reacting to likely threats. Unmanned vehicles are becoming more popular. UAVs and UGVs (drones) require electro-optical/infrared sensors in order to “see” what is going on around them and carry out their missions effectively. Miniaturization is bringing these systems within reach. These systems are shrinking and becoming more portable, which means they are more convenient to use on a larger variety of platforms, such as handheld devices and UAVs.
Military Electro-optics/Infrared (EO/IR) Systems Market Analysis
Find out more about the major segments that are influencing this market
The military electro-optics and infrared (EO/IR) systems market has a quarter of its pie in 2022 belonged to the navy segment. And it is only going to expand, projected to increase at 6% annually through 2032. Why the growth? Border conflicts and territorial conflicts have exposed our seas and ships to danger. So, nations are doubling up on monitoring the seas, detecting danger, and identifying targets. Navies are all about enhancing their warships with sophisticated sensor suites. Because in battles today, it’s a question of who can see more, detect targets sooner, and get inside the other fellow’s head. To achieve that clear-as-glass vision, the navy requires EO/IR sensors that can zoom in on targets from a distance, regardless of day or night. That enables them to monitor ships, measure threats, and determine whether it’s fire or not, all due to motion imagery and sophisticated tracking systems. And as we venture forth into the future, the demand for even more penetrating and reliable sensor systems will only increase. Because our navies must have a picture of what’s out there in order to make our seas secure.
Discover more about this market’s dominant segments
The world of the military utilizes sensors to provide an edge to the soldier on the ground. These sensors allow them to see in the dark through infrared technology. This allows them to detect enemy targets even when it is difficult to see. The market for these infrared systems will increase by around 5% per year until 2032. One of the reasons for this is the increased application of drones in military use. Drones utilize infrared sensors to detect targets and collect information. As drones become increasingly popular for defense and military missions, demand for infrared sensor technology is also expected to surge.
On the basis of application, the market for military electro-optics/infrared systems is divided into Intelligence, Surveillance, and Reconnaissance (ISR), targeting, situational awareness, navigation, and others. ISR segment was estimated at USD 2,000 million in 2022 and is expected to witness significant growth in the forthcoming years. EO/IR systems incorporate both visible light and IR technology to detect, track, and recognize targets both day and night, at distant ranges, and in adverse weather conditions. Growing demand for situational awareness for contemporary military operations is driving the market.
EO/IR systems are essential for military forces because they offer real-time and reliable intelligence on adversary movements & activities. They enable military forces to view what is occurring in the air and on the ground from a secure distance. A further reason for the increasing demand for EO/IR systems is the growing adoption of UAVs in military applications. EO/IR sensors are a key part of most UAVs, which offer a high-resolution imaging capability in ISR missions. These are combined with the capability of EO/IR systems to operate effectively and will enhance market growth.
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Military Electro-optics/Infrared (EO/IR) Systems Market Share
Major companies operating in the military Electro-optics/Infrared systems market include
- BAE Systems plc
- CONTROP Precision Technologies Ltd
- Elbit Systems Ltd
- Excelitas Technologies Corp
- Israel Aerospace Industries
- L3Harris Technologies, Inc
- Leonardo S.p.A.
- Lockheed Martin Corporation
- Northrop Grumman
- Raytheon Technologies Corporation
- Rheinmetall AG
- Saab AB, Safran SA
- Teledyne FLIR LLC
- Thales Group
- Ultra Electronics Holdings plc.
