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Global Military Electro-Optical and Infrared Systems Market to Grow at a CAGR of 6.63% During the Period 2016 - 2020; Finds New Report

Market Research Reports, Inc. has announced the addition of “Global Military Electro-optical and Infrared Systems Market 2016 - 2020” research report to their website


Lewes, DE -- (SBWIRE) -- 11/30/2016 -- Report forecast the global military electro-optical and infrared systems market to grow at a CAGR of 6.63% during the period 2016-2020.

EO/IR systems are an essential part of military operations. These systems encompass a broad array of distinct technologies that are based on target acquisitions and mission requirements. Such EO/IR systems are used in different military applications like airborne, land-based, and naval. Some of the airborne EO/IR systems are optic sights, observation systems, helmet mounted displays, and night vision systems. Land-based EO/IR systems include night vision goggles, weapon mounted sights, vehicle mounted optronics devices, thermal imagers, laser rangefinders, and designators.

Naval based EO/IR systems include thermal imagery systems, infrared imaging and detectors, optronics mast systems, and surveillance and tracking systems. These systems assist in the battlefield with better visibility, tracking, and targeting of enemy locations.

The report covers the present scenario and the growth prospects of the global military electro-optical and infrared systems market for 2016-2020. To calculate the market size, the report considers the revenue generated in the overall market from the procurement of new EO/IR systems.

The market is divided into the following segments based on geography:
- Americas

According to the report, one of the primary drivers in the market is greater emphasis on situational awareness. The idea of enhancing situational awareness capabilities within military agencies advocates the organized acquisition and comprehension of elements and events that are used to dominate in combat situations, as well as establish national security countermeasure policies. Situational awareness has been recognized as one of the most critical aspects of defense practices, which corroborates the decision-making process of defense agencies. Over the last two decades, the increasing adoption of digitization among military agencies has been the key reason propelling the advancement in EO/IR sensor technologies. These sensors, with the help of data processing systems, serve as an integral resource for military agencies in surveillance applications.

Further, the report states that one major challenge in the market is barriers to adoption of new technology and equipment. Vendors in this market are required to adhere to the stringent regulatory norms of different countries. There are many vendors that work with government agencies and departments of defense within the countries. In addition, military forces are facing difficulties in adoption of new technologies, as they soon become outdated. Also, with the evolution of new technologies, vendors need to update their EO/IR systems. EO/IR systems that are in the inventory of the company lose their market value due to the evolution and adoption of new technologies. Incorporating such technological changes into existing EO/IR entails large expenditure, which ultimately increases the cost of the EO/IR systems. Many organizations are delaying the purchase of EO/IR systems to procure more efficient and compact systems that are still in the making.

Global Military Electro-optical and Infrared Systems Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

key players in the global military electro-optical and infrared systems market: BAE Systems, Elbit Systems, Lockheed Martin, Raytheon, and Thales.

Other prominent vendors in the market are: EO/IR systems market include CONTROP Precision Technologies, DRS Technologies, General Dynamics, Harris, Israel Aerospace Industries, L-3 Communications, and Saab.

Market driver
- Increasing focus on maritime capabilities.
- For a full, detailed list, view our report

Market challenge
- Barriers to adoption of new technology and equipment.
- For a full, detailed list, view our report

Market trend
- Development of miniaturized EO/IR systems.
- For a full, detailed list, view our report

Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?

Spanning over 64 pages and 37 Exhibits "Global Military Electro-optical and Infrared Systems Market 2016 - 2020" report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market landscape, Market segmentation by application, Geographical segmentation, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Vendor landscape, Appendix.

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