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Military Electro-optics/Infrared (EO/IR) Systems Market Size

Report ID: GMI5736
Published Date: May 2023
Report Format: PDF

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Military Electro-optics/Infrared (EO/IR) Systems Market Size

Military Electro-Optics/Infrared Systems Market size crossed USD 5 billion in 2022 and is projected to witness over 6% CAGR between 2023 and 2032. The market growth is attributed to the growing need for Intelligence, Surveillance, and Reconnaissance (ISR)

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The military needs dependable and accurate surveillance, intelligence, and reconnaissance capabilities to obtain crucial information on enemy forces, topography, and other battlefield elements. This information is essential in deciding the appropriate course of action for military operations and gauging their efficacy. EO/IR sensors are a crucial part of ISR capabilities as they offer real-time situational surveillance & awareness and other capabilities. EO/IR sensors can locate & identify possible threats in a variety of lighting and weather scenarios, providing important data for military operations. The evolving modern warfare is driving the demand for ISR capabilities. Militaries use EO/IR systems to recognize & eliminate possible dangers and deal with asymmetrical challenges, such as terrorism and insurgency, propelling market growth.

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:	Complexity involved in integration of EO/IR System with wide range of platforms High development and production costs

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Integrating an EO/IR system with standalone solutions to the necessary level is difficult. The incorporation of an EO/IR system's gun systems, ISR system, and CS41 system demands large financial investments and power sources. Military command & radar systems, control systems, and communication networks must be integrated with EO/IR systems to assure compatibility and optimal performance. This integration may be difficult and may require extensive modification & testing, restraining military electro-optics/infrared systems market growth.

Authors: Suraj Gujar

Frequently Asked Questions (FAQ) :

The market size of military electro-optics/infrared systems was valued at USD 5 billion in 2022 and will record more than 6% CAGR from 2023 to 2032 due to the growing need for intelligence, surveillance, and reconnaissance (ISR).

Naval military electro-optics/infrared systems market will record 6% CAGR from 2023 to 2032 owing to greater focus on maritime surveillance, threat detection, and target identification.

Demand for infrared military electro-optics/infrared systems is posed to record 5% CAGR from 2023 to 2032 on account of the rising need for tracing and detecting targets in nighttime and low-light conditions.

North America military EO/IR systems industry size is expected to exhibit 6% CAGR from 2022 – 2032 due to the rising expenditure on weapon systems to counter enemies on the battlefield in the country.