Global Military Electro-optical and Infrared Systems Market 2016-2020

Overview of the global military electro-optical and infrared systems market

Technavio’s military electro optical and infrared systems market research report predicts the market to grow at a CAGR of close to 7% between 2016 and 2020. Factors such as growing territorial disputes between countries have led to the increased focused on naval warfare, thus, propelling several naval agencies to upgrade the target acquisition capability of their existing naval platforms with advanced EO/IR sensors and combat systems. The military EO/IR systems market is primarily driven by developments in sensor technology, which has resulted in the strengthening of capabilities of the multi-sensor EO targeting pods, including compass thermographic sensors, target laser range finders, laser spot detectors, and low-light television cameras. With extensive changes in terms of manufacturing of components and subcomponents within EO/IR systems, the global military EO/IR systems market growth is expected to be substantial during the forecast period.

The growing preference for small UAVs owing to their tactical advantages has propelled technology providers to design miniaturized EO/IR systems that can be fitted with small UAVs and are capable of dispelling sufficient heat without negotiating on the performance of a miniaturized UAV. Growing concerns about developing cost-effective cooling technologies have augmented the opportunities for the cooled thermal imaging camera providers. It has also encouraged the proliferation of EO/IR systems within the defense industry, as the sensors used in thermal imaging cameras are expected to improve the target detection and surveillance capabilities of miniaturized UAVs.

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