NEW YORK, Jan. 5, 2017 /PRNewswire/ --
"The military electro-optics/infrared systems market is projected to grow at a CAGR of 5.75% from 2016 to 2022"
The military electro-optics/infrared systems market is estimated to be USD 10.15 billion in 2016, and is projected to reach USD 14.20 billion by 2022, at a CAGR of 5.75% from 2016 to 2022. Increasing demand for battlespace awareness by defense forces and increasing deployment of electro-optics/infrared systems in unmanned aerial vehicles are key factors driving the growth of the military electro-optics/infrared systems market. However, stagnant product life cycle is one of the most significant factors restraining market growth.
"The airborne platform segment to account for the largest share of the military electro-optics/infrared systems market"
The airborne platform segment is estimated to account for the largest share of the military electro-optics/infrared systems market. This large share is mainly attributed to the increasing applicability of electro-optics/infrared systems in air-based platforms. In addition, increasing deployment of military electro-optics/infrared systems in UAVs and aerostars is further contributing to the growth of this market.
"North America accounted for a major share of the military electro-optics/infrared systems market; this market in the Asia-Pacific region is projected to grow at the highest CAGR during the forecast period"
North America is estimated to account for the largest share of the military electro-optics/infrared systems market in 2016. This growth is mainly attributed to the increasing demand for imaging technologies, laser rangefinders, and infrared systems. The military electro-optics/infrared systems market in North America is witnessing growth due to increased investments in the procurement of defense equipment and the implementation of electro-optics/infrared systems in UAVs and military aircraft. This market in the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period, owing to the increasing demand for laser technology and its applicability in the defense sector.
Break-up of profile of primary participants for this report:
- By Company Type: Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%
- By Designation: C Level – 35%, Director Level – 25%, and Others – 40%
- By Region: North America - 45%, Europe – 20%, Asia-Pacific – 30%, and RoW – 5%
Key players profiled in the military electro-optics/infrared systems market report include Lockheed Martin Corporation (U.S.), Northrop Grumman Corporation (U.S.), BAE Systems Plc. (U.K.), The Raytheon Company (U.S.), and Thales Group (France), among others.
The market study segments the military electro-optics/infrared systems market on the basis of platform (air, naval, and land), system (targeting system, electronic support measure, and imaging system), technology (uncooled and cooled), sensor technology (staring sensor and scanning sensor), and imaging technology (hyperspectral and multispectral), and map these segments and subsegments across major regions that include North America, Europe, Asia-Pacific, the Middle East, and RoW (rest of the world). The report provides in-depth market intelligence regarding market dynamics and major factors that influence the growth of the military electro-optics/infrared systems market (drivers, restraints, opportunities, and industry-specific challenges), along with analyzing micromarkets with respect to individual growth trends, future prospects, and their contribution to the military electro-optics/infrared systems market.
Reasons to buy this report:
From an insight perspective, this research report has focused on various levels of analysis—industry analysis (industry trends), market share analysis of top players, supply chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the military electro-optics/infrared systems market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on military electro-optics/infrared systems offered by top players operating in this market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the military electro-optics/infrared systems market
- Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the markets for military electro-optics/infrared systems across varied regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the military electro-optics/infrared systems market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the military electro-optics/infrared systems market
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