DUBLIN--(BUSINESS WIRE)--The "Global Military Electro-Optical/Infrared (EO/IR) Systems Market 2017-2027" report has been added to Research and Markets' offering.
Global military EO/IR systems market is expected to be worth US$11 Billion in 2017 and is expected increase to US$14.3 Billion by 2027, representing a CAGR of 2.64% during the forecast period.
Rapidly changing requirements of military forces for traditional and emerging war techniques, the heightened need for Intelligence, Surveillance and Reconnaissance (ISR) activities and modernisation initiatives being undertaken by defence ministries across the world are boosting the demand for military EO/IR systems globally.
In terms of categories, airborne military EO/IR systems is expected to account for the highest proportion of spending, followed by markets for ground and naval based systems. With the rapidly growing implementation and deployment of Network Centric Warfare (NCW), demand for sensors to be used in intelligence, surveillance, and reconnaissance and observation platforms have surged over the years. This in turn has led to a rise in demand for airborne military EO/IR systems globally. Over the forecast period airborne military EO/IR systems are projected to account for a leading share of 64.1% in the global market.
- Northrop Grumman
- DRS Technologies
- Elbit Systems
- BAE Systems
- FLIR Systems
- L-3 Technologies
- Lockheed Martin
- Cubic Global Defense
For more information about this report visit https://www.researchandmarkets.com/research/3lwfg4/global_military