Military Electro-optics/Infrared (EO/IR) Systems Market Size - By Cooling Technology, By Sensor Technology, By Imaging Technology, By Product Type, By Platform, By Application, By Point of Sale and Forecast, 2025 - 2034

Key players in the market include Aselsan A.S., BAE Systems plc, CONTROP Precision Technologies Ltd., Elbit Systems Ltd., Excelitas Technologies Corp., Hensoldt AG, Indra Sistemas, S.A., Israel Aerospace Industries, L3Harris Technologies, Inc., Leonardo S.p.A., Lockheed Martin Corporation, and Northrop Grumman.

Electro-optical (EO) systems held a 42.4% market share in 2024, driven by their high-resolution imaging and surveillance capabilities, which enhance reconnaissance and situational awareness.

The North America military EO/IR systems market is expected to exceed USD 4.1 billion by 2034, driven by significant investments in military modernization and advancements in surveillance technologies.

The global market size for military electro-optics/infrared (EO/IR) systems was valued at USD 8.4 billion in 2024 and is projected to reach USD 12 billion by 2034, driven by a CAGR of 3.8% during the forecast period, fueled by the growing need for Intelligence, Surveillance, and Reconnaissance (ISR).