The Global Military Electro-Optical and Infrared (EOIR) Systems Market size is estimated to be USD 12.72 billion in 2019 and is predicted to reach USD 24.65 billion by 2030 with a CAGR of 6.2% from 2020-2030.
Military Electro-Optical and Infrared (EOIR) Systems consist of visible and infrared sensors that help the user to work in the dark or low light conditions. EOIR system comprises of devices and components designed to interact between the optical and the electronic state. The use of Military EOIR system enables defence forces to achieve higher battlefield awareness through intelligence, surveillance and reconnaissance (ISR). Other applications of EOIR system in the defence sector include night vision devices (NVDs), visible-light cameras, infrared (IR) sensors, lasers, distance measuring devices and many more.
Access Full Description of this report at:-
Top Companies: BAE Systems Ltd, DRS Technologies Inc, European Aeronautics Defence and Space (EADS), Elbit Systems Ltd, EOIR Technologies Inc, Excelitas Technologies, Exelis Inc, Finmeccanica SpA, FLIR Systems Inc, General Atomics Aeronautical Systems Inc., General Dynamics Corporation, Harris Corporation, Israel Aerospace Industries (IAI) Ltd, L-3 Communications, Leidos
Market Dynamics and Trends:
The rising demand for electro optical and infrared (EOIR) system in military for the development of enhanced defense equipment like laser range finders, lenses, integrated observation equipment and many more has driven the military electro-optical and infrared systems market growth. Also, the increasing government emphasis all over the world to strengthen their defense sector is the key driver towards the growth of military EOIR systems market.
However, stagnant product lifecycle along with the limited ability to perform in extreme weather conditions and high cost of military EOIR systems are some of the factors that hinder the market growth. On the other hand, increasing research activities to enhance the operational capacity accompanied with greater adoption of advanced technologies and sensors will create ample opportunities in the military electro-optical and infrared systems market.
Request sample copy of this report at:-
Market Segmentations and Scope of the Study:
The global military electro-optical and infrared systems market share is segmented based on type and geography. On the basis of type, the market is divided into airborne EO/IR systems, naval EO/IR systems, and ground EO/IR systems. Geographic bifurcation of military EOIR market includes regions comprising North America, Europe, Asia-Pacific, and RoW.
North America holds the lion share in the EOIR systems market owing to the increased adoption of military EOIR systems. This is due to the presence of key players, technological innovations, developed economy and the greater defense expenditure by the U.S.
However, Asia Pacific is expected to show a steady rise in the adoption of military electro-optical systems market due to the presence of emerging economies, military modernization that encourages the use of modern technologies, along with the growing tensions between China and other Asian countries.
Phone Number: +1-217-650-7991
About Next Move Strategy Consulting:
Next Move Strategy Consulting is an independent and trusted third-platform market intelligence provider, committed to deliver high quality, market research reports that help multinational companies to triumph over their competitions and increase industry footprint by capturing greater market share. Our research model is a unique collaboration of primary research, secondary research, data mining and data analytics.
We have been servicing over 1000 customers globally that includes 90% of the Fortune 500 companies over a decade. Our analysts are constantly tracking various high growth markets and identifying hidden opportunities in each sector or the industry. We provide one of the industry’s best quality syndicate as well as custom research reports across 10 different industry verticals. We are committed to deliver high quality research solutions in accordance to your business needs. Our industry standard delivery solution that ranges from the pre consultation to after-sales services, provide an excellent client experience and ensure right strategic decision making for businesses.
For more insights, please visit, https://www.nextmsc.com
This release was published on openPR. SOURCE