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

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

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Military Electro-optics/Infrared (EO/IR) Systems Business Trends

The market has experienced significant growth in recent years and is expected to continue expanding. Several factors including the increasing military modernization programs, rising global tension, and the need for advanced surveillance & targeting systems are boosting military electro-optics/infrared systems market growth. One of the key market trends is the growing demand for unmanned aerial vehicles and unmanned ground vehicles equipped with electro-optical/infrared sensors. These sensors provide real-time situational awareness and enhance the overall effectiveness of unmanned platforms. There is also a rising trend toward the miniaturization of electro-optical/infrared systems, allowing these systems to be integrated into smaller platforms, such as handheld devices and unmanned systems, without affecting their performance.

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.