Global Electro-Optical/Infrared (EO/IR) Systems Market Report and Forecast 2023-2028
Global Electro-Optical/Infrared (EO/IR) Systems Market Report and Forecast 2023-2028
Abstract
Global Electro-Optical/Infrared (EO/IR) Systems Market Report and Forecast 2023-2028
Market Outlook
According to the report by Expert Market Research (EMR), the global electro-optical/infrared (EO/IR) systems market reached a value of USD 15.07 billion in 2022. Aided by the escalating demand for advanced surveillance systems and the expanding applications of EO/IR technologies across various sectors, the market is projected to further grow at a CAGR of 3.7% between 2023 and 2028 to reach a value of USD 18.88 billion by 2028.
Electro-optical/infrared systems are crucial components used in surveillance, reconnaissance, and targeting applications. They play an integral role in various sectors, including defence, homeland security, and commercial industries. These systems leverage thermal imaging and laser range-finding technologies to facilitate superior monitoring, detection, and tracking operations.
The escalating demand for advanced surveillance systems is a significant factor driving the global electro-optical/infrared (EO/IR) systems market growth. With the growing need for enhanced national security and surveillance in the face of geopolitical conflicts and increasing instances of cross-border disputes, there has been a substantial rise in the demand for EO/IR-based systems. These systems provide superior reconnaissance and target acquisition capabilities, bolstering their adoption in defence and security applications.
Moreover, the rising trend of modernising military equipment has further amplified the demand for EO/IR systems. These technologies offer enhanced situational awareness, precise target tracking, and high-resolution imagery, making them indispensable for modern warfare and military operations.
The burgeoning applications of EO/IR systems in various industries also contribute significantly to the electro-optical/infrared (EO/IR) systems market expansion. In the commercial sector, these systems find increasing usage in search and rescue operations, wildlife observation, and infrastructure monitoring. The burgeoning aerospace industry employs EO/IR systems for weather monitoring and aircraft navigation, further fuelling market growth.
Furthermore, advancements in EO/IR technologies, including the development of multispectral and hyperspectral imaging systems, are anticipated to propel the electro-optical/infrared (EO/IR) systems market growth. These advanced systems provide higher image resolution and improved target detection capabilities, expanding their application scope across diverse sectors.
The rise in the unmanned aerial vehicle (UAV) market is also a critical factor in promoting the electro-optical/infrared (EO/IR) systems market development. These systems are integral components of UAVs, providing surveillance, target tracking, and terrain classification capabilities. The growing use of UAVs for military, commercial, and recreational applications is expected to boost the demand for EO/IR systems.
Market Segmentation
The market can be divided based on technology, sensor technology, imaging technology, wavelength, platform, end use, and region.
Market Breakup by Technology
•Cooled
•Uncooled
Market Breakup by Sensor Technology
•Scanning Sensor
•Staring Sensor
Market Breakup by Imaging Technology
•Multispectral
•Hyperspectral
Market Breakup by Wavelength
•Ultraviolet
•Short Wavelength Infrared
•Medium Wavelength Infrared
•Long Wavelength Infrared
•Near Infrared
Market Breakup by Platform
•Land
•Airborne
•Marine/Naval
Market Breakup by End Use
•Military
•Commercial
Market Breakup by Region
•North America
•Europe
•Asia Pacific
•Latin America
•Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global electro-optical/infrared (EO/IR) systems companies. Some of the major key players explored in the report by Expert Market Research are as follows:
•Raytheon Technologies Corporation
•Lockheed Martin Corporation
•Thales Group
•Northrop Grumman Corporation
•BAE Systems PLC
•Rheinmetall AG
•L3Harris Technologies, Inc.
•Others
About Us
Acquire unparalleled access to critical industry insights with our comprehensive market research reports, meticulously prepared by a team of seasoned experts. These reports are designed to equip decision-makers with an in-depth understanding of prevailing market trends, competitive landscapes, and growth opportunities.
Our high-quality, data-driven analyses provide the essential framework for organisations seeking to make informed and strategic decisions in an increasingly complex and rapidly evolving business environment. By investing in our market research reports, you can ensure your organisation remains agile, proactive, and poised for success in today's competitive market.
Content
Table of Contents
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Electro-Optical/Infrared (EO/IR) Systems Market Analysis
8.1 Key Industry Highlights
8.2 Global Electro-Optical/Infrared (EO/IR) Systems Historical Market (2018-2022)
8.3 Global Electro-Optical/Infrared (EO/IR) Systems Market Forecast (2023-2028)
8.4 Global Electro-Optical/Infrared (EO/IR) Systems Market by Technology
8.4.1 Cooled
8.4.1.1 Historical Trend (2018-2022)
8.4.1.1 Forecast Trend (2023-2028)
8.4.2 Uncooled
8.4.2.1 Historical Trend (2018-2022)
8.4.2.1 Forecast Trend (2023-2028)
8.5 Global Electro-Optical/Infrared (EO/IR) Systems Market by Sensor Technology
8.5.1 Scanning Sensor
8.5.1.1 Historical Trend (2018-2022)
8.5.1.1 Forecast Trend (2023-2028)
8.5.2 Staring Sensor
8.5.2.1 Historical Trend (2018-2022)
8.5.2.2 Forecast Trend (2023-2028)
8.6 Global Electro-Optical/Infrared (EO/IR) Systems Market by Imaging Technology
8.6.1 Multispectral
8.6.1.1 Historical Trend (2018-2022)
8.6.1.2 Forecast Trend (2023-2028)
8.6.2 Hyperspectral
8.6.2.1 Historical Trend (2018-2022)
8.6.2.2 Forecast Trend (2023-2028)
8.7 Global Electro-Optical/Infrared (EO/IR) Systems Market by Wavelength
8.7.1 Ultraviolet
8.7.1.1 Historical Trend (2018-2022)
8.7.1.2 Forecast Trend (2023-2028)
8.7.2 Short Wavelength Infrared
8.7.2.1 Historical Trend (2018-2022)
8.7.2.2 Forecast Trend (2023-2028)
8.7.3 Medium Wavelength Infrared
8.7.3.1 Historical Trend (2018-2022)
8.7.3.2 Forecast Trend (2023-2028)
8.7.4 Long Wavelength Infrared
8.7.4.1 Historical Trend (2018-2022)
8.7.4.2 Forecast Trend (2023-2028)
8.7.5 Near Infrared
8.7.5.1 Historical Trend (2018-2022)
8.7.5.2 Forecast Trend (2023-2028)
8.8 Global Electro-Optical/Infrared (EO/IR) Systems Market by Platform
8.8.1 Land
8.8.1.1 Historical Trend (2018-2022)
8.8.1.2 Forecast Trend (2023-2028)
8.8.2 Airborne
8.8.2.1 Historical Trend (2018-2022)
8.8.2.2 Forecast Trend (2023-2028)
8.8.3 Marine/Naval
8.8.3.1 Historical Trend (2018-2022)
8.8.3.2 Forecast Trend (2023-2028)
8.9 Global Electro-Optical/Infrared (EO/IR) Systems Market by End Use
8.9.1 Military
8.9.1.1 Historical Trend (2018-2022)
8.9.1.2 Forecast Trend (2023-2028)
8.9.2 Commercial
8.9.2.1 Historical Trend (2018-2022)
8.9.2.2 Forecast Trend (2023-2028)
8.10 Global Electro-Optical/Infrared (EO/IR) Systems Market by Region
8.10.1 Market Share
8.10.1.1 North America
8.10.1.2 Europe
8.10.1.3 Asia Pacific
8.10.1.4 Latin America
8.10.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2022)
9.5.2 Forecast Trend (2023-2028)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Turkey
9.5.3.4 Israel
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Competitive Landscape
11.1 Market Structure
11.2 Company Profiles
11.2.1 Raytheon Technologies Corporation
11.2.1.1 Company Overview
11.2.1.2 Product Portfolio
11.2.1.3 Demographic Reach and Achievements
11.2.1.4 Certifications
11.2.2 Lockheed Martin Corporation
11.2.2.1 Company Overview
11.2.2.2 Product Portfolio
11.2.2.3 Demographic Reach and Achievements
11.2.2.4 Certifications
11.2.3 Thales Group
11.2.3.1 Company Overview
11.2.3.2 Product Portfolio
11.2.3.3 Demographic Reach and Achievements
11.2.3.4 Certifications
11.2.4 Northrop Grumman Corporation
11.2.4.1 Company Overview
11.2.4.2 Product Portfolio
11.2.4.3 Demographic Reach and Achievements
11.2.4.4 Certifications
11.2.5 BAE Systems PLC
11.2.5.1 Company Overview
11.2.5.2 Product Portfolio
11.2.5.3 Demographic Reach and Achievements
11.2.5.4 Certifications
11.2.6 Rheinmetall AG
11.2.6.1 Company Overview
11.2.6.2 Product Portfolio
11.2.6.3 Demographic Reach and Achievements
11.2.6.4 Certifications
11.2.7 L3Harris Technologies, Inc.
11.2.7.1 Company Overview
11.2.7.2 Product Portfolio
11.2.7.3 Demographic Reach and Achievements
11.2.7.4 Certifications
11.2.8 Others
12 Industry Events and Developments
Market Outlook
According to the report by Expert Market Research (EMR), the global electro-optical/infrared (EO/IR) systems market reached a value of USD 15.07 billion in 2022. Aided by the escalating demand for advanced surveillance systems and the expanding applications of EO/IR technologies across various sectors, the market is projected to further grow at a CAGR of 3.7% between 2023 and 2028 to reach a value of USD 18.88 billion by 2028.
Electro-optical/infrared systems are crucial components used in surveillance, reconnaissance, and targeting applications. They play an integral role in various sectors, including defence, homeland security, and commercial industries. These systems leverage thermal imaging and laser range-finding technologies to facilitate superior monitoring, detection, and tracking operations.
The escalating demand for advanced surveillance systems is a significant factor driving the global electro-optical/infrared (EO/IR) systems market growth. With the growing need for enhanced national security and surveillance in the face of geopolitical conflicts and increasing instances of cross-border disputes, there has been a substantial rise in the demand for EO/IR-based systems. These systems provide superior reconnaissance and target acquisition capabilities, bolstering their adoption in defence and security applications.
Moreover, the rising trend of modernising military equipment has further amplified the demand for EO/IR systems. These technologies offer enhanced situational awareness, precise target tracking, and high-resolution imagery, making them indispensable for modern warfare and military operations.
The burgeoning applications of EO/IR systems in various industries also contribute significantly to the electro-optical/infrared (EO/IR) systems market expansion. In the commercial sector, these systems find increasing usage in search and rescue operations, wildlife observation, and infrastructure monitoring. The burgeoning aerospace industry employs EO/IR systems for weather monitoring and aircraft navigation, further fuelling market growth.
Furthermore, advancements in EO/IR technologies, including the development of multispectral and hyperspectral imaging systems, are anticipated to propel the electro-optical/infrared (EO/IR) systems market growth. These advanced systems provide higher image resolution and improved target detection capabilities, expanding their application scope across diverse sectors.
The rise in the unmanned aerial vehicle (UAV) market is also a critical factor in promoting the electro-optical/infrared (EO/IR) systems market development. These systems are integral components of UAVs, providing surveillance, target tracking, and terrain classification capabilities. The growing use of UAVs for military, commercial, and recreational applications is expected to boost the demand for EO/IR systems.
Market Segmentation
The market can be divided based on technology, sensor technology, imaging technology, wavelength, platform, end use, and region.
Market Breakup by Technology
•Cooled
•Uncooled
Market Breakup by Sensor Technology
•Scanning Sensor
•Staring Sensor
Market Breakup by Imaging Technology
•Multispectral
•Hyperspectral
Market Breakup by Wavelength
•Ultraviolet
•Short Wavelength Infrared
•Medium Wavelength Infrared
•Long Wavelength Infrared
•Near Infrared
Market Breakup by Platform
•Land
•Airborne
•Marine/Naval
Market Breakup by End Use
•Military
•Commercial
Market Breakup by Region
•North America
•Europe
•Asia Pacific
•Latin America
•Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global electro-optical/infrared (EO/IR) systems companies. Some of the major key players explored in the report by Expert Market Research are as follows:
•Raytheon Technologies Corporation
•Lockheed Martin Corporation
•Thales Group
•Northrop Grumman Corporation
•BAE Systems PLC
•Rheinmetall AG
•L3Harris Technologies, Inc.
•Others
About Us
Acquire unparalleled access to critical industry insights with our comprehensive market research reports, meticulously prepared by a team of seasoned experts. These reports are designed to equip decision-makers with an in-depth understanding of prevailing market trends, competitive landscapes, and growth opportunities.
Our high-quality, data-driven analyses provide the essential framework for organisations seeking to make informed and strategic decisions in an increasingly complex and rapidly evolving business environment. By investing in our market research reports, you can ensure your organisation remains agile, proactive, and poised for success in today's competitive market.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Electro-Optical/Infrared (EO/IR) Systems Market Analysis
8.1 Key Industry Highlights
8.2 Global Electro-Optical/Infrared (EO/IR) Systems Historical Market (2018-2022)
8.3 Global Electro-Optical/Infrared (EO/IR) Systems Market Forecast (2023-2028)
8.4 Global Electro-Optical/Infrared (EO/IR) Systems Market by Technology
8.4.1 Cooled
8.4.1.1 Historical Trend (2018-2022)
8.4.1.1 Forecast Trend (2023-2028)
8.4.2 Uncooled
8.4.2.1 Historical Trend (2018-2022)
8.4.2.1 Forecast Trend (2023-2028)
8.5 Global Electro-Optical/Infrared (EO/IR) Systems Market by Sensor Technology
8.5.1 Scanning Sensor
8.5.1.1 Historical Trend (2018-2022)
8.5.1.1 Forecast Trend (2023-2028)
8.5.2 Staring Sensor
8.5.2.1 Historical Trend (2018-2022)
8.5.2.2 Forecast Trend (2023-2028)
8.6 Global Electro-Optical/Infrared (EO/IR) Systems Market by Imaging Technology
8.6.1 Multispectral
8.6.1.1 Historical Trend (2018-2022)
8.6.1.2 Forecast Trend (2023-2028)
8.6.2 Hyperspectral
8.6.2.1 Historical Trend (2018-2022)
8.6.2.2 Forecast Trend (2023-2028)
8.7 Global Electro-Optical/Infrared (EO/IR) Systems Market by Wavelength
8.7.1 Ultraviolet
8.7.1.1 Historical Trend (2018-2022)
8.7.1.2 Forecast Trend (2023-2028)
8.7.2 Short Wavelength Infrared
8.7.2.1 Historical Trend (2018-2022)
8.7.2.2 Forecast Trend (2023-2028)
8.7.3 Medium Wavelength Infrared
8.7.3.1 Historical Trend (2018-2022)
8.7.3.2 Forecast Trend (2023-2028)
8.7.4 Long Wavelength Infrared
8.7.4.1 Historical Trend (2018-2022)
8.7.4.2 Forecast Trend (2023-2028)
8.7.5 Near Infrared
8.7.5.1 Historical Trend (2018-2022)
8.7.5.2 Forecast Trend (2023-2028)
8.8 Global Electro-Optical/Infrared (EO/IR) Systems Market by Platform
8.8.1 Land
8.8.1.1 Historical Trend (2018-2022)
8.8.1.2 Forecast Trend (2023-2028)
8.8.2 Airborne
8.8.2.1 Historical Trend (2018-2022)
8.8.2.2 Forecast Trend (2023-2028)
8.8.3 Marine/Naval
8.8.3.1 Historical Trend (2018-2022)
8.8.3.2 Forecast Trend (2023-2028)
8.9 Global Electro-Optical/Infrared (EO/IR) Systems Market by End Use
8.9.1 Military
8.9.1.1 Historical Trend (2018-2022)
8.9.1.2 Forecast Trend (2023-2028)
8.9.2 Commercial
8.9.2.1 Historical Trend (2018-2022)
8.9.2.2 Forecast Trend (2023-2028)
8.10 Global Electro-Optical/Infrared (EO/IR) Systems Market by Region
8.10.1 Market Share
8.10.1.1 North America
8.10.1.2 Europe
8.10.1.3 Asia Pacific
8.10.1.4 Latin America
8.10.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2022)
9.5.2 Forecast Trend (2023-2028)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Turkey
9.5.3.4 Israel
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Competitive Landscape
11.1 Market Structure
11.2 Company Profiles
11.2.1 Raytheon Technologies Corporation
11.2.1.1 Company Overview
11.2.1.2 Product Portfolio
11.2.1.3 Demographic Reach and Achievements
11.2.1.4 Certifications
11.2.2 Lockheed Martin Corporation
11.2.2.1 Company Overview
11.2.2.2 Product Portfolio
11.2.2.3 Demographic Reach and Achievements
11.2.2.4 Certifications
11.2.3 Thales Group
11.2.3.1 Company Overview
11.2.3.2 Product Portfolio
11.2.3.3 Demographic Reach and Achievements
11.2.3.4 Certifications
11.2.4 Northrop Grumman Corporation
11.2.4.1 Company Overview
11.2.4.2 Product Portfolio
11.2.4.3 Demographic Reach and Achievements
11.2.4.4 Certifications
11.2.5 BAE Systems PLC
11.2.5.1 Company Overview
11.2.5.2 Product Portfolio
11.2.5.3 Demographic Reach and Achievements
11.2.5.4 Certifications
11.2.6 Rheinmetall AG
11.2.6.1 Company Overview
11.2.6.2 Product Portfolio
11.2.6.3 Demographic Reach and Achievements
11.2.6.4 Certifications
11.2.7 L3Harris Technologies, Inc.
11.2.7.1 Company Overview
11.2.7.2 Product Portfolio
11.2.7.3 Demographic Reach and Achievements
11.2.7.4 Certifications
11.2.8 Others
12 Industry Events and Developments
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