Electro-optical (EO) & Infrared (IR) Sensors Market - Trends Forecast Till 2028

Electro-optical (EO) & Infrared (IR) Sensors Market is Segmented by Platform (Air-based, Land-based, and Sea-based), and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America)

Published Date: December, 2021

Base Year Estimate: 2020

Report ID: D-AD-EOIRSM-1009

Format:  

Number of Pages: 249

Domain: Aerospace & Defense

Electro-optical (EO) & Infrared (IR) Sensors Market – Trends Forecast Till 2028

The Electro-optical (EO) & Infrared (IR) Sensors market is poised to register a CAGR of 3.51% during the forecast period 2021-2028.

Electro-optical and infrared systems also referred to as EO/IR systems, cover a wide range of distinct technologies based on targets and their missions. These sensors include both visible spectrum and infrared sensors, due to which EO/IR systems provide total situational awareness during both day and night, even in low light conditions. EO/IR sensors can be deployed in many ways. They are usually mounted on aircraft or vehicles, used at sea, or are hand-carried, and can identify targets, track moving targets, and assess threats from a distance. Their applications include, but are not limited to, airborne security, combat, patrol, surveillance, reconnaissance, and search and rescue operations.

Growing number of unmanned vehicles and the rising use of these systems in such vehicles for surveillance purposes, increasing defence spends, and strong requirement to improve military ISR capabilities are some of the factors that have supported long-term expansion for Electro-optical (EO) & Infrared (IR) Sensors Market.

Electro-optical (EO) & Infrared (IR) Sensors Market Size Analysis

North America held the largest share in the market in 2020, primarily due to high demand from the US armed forces for the EO/IR systems. The enhanced capabilities of the adversaries on the battlefield forced the United States to increase its investment in technologically advanced weapon systems.

Electro-optical (EO) & Infrared (IR) Sensors Market is segmented into platform and region.

On the basis of Platform

  • Air-based
  • Land-based
  • Sea-based

On the basis of Region

  • Asia Pacific
  • North America
  • Europe
  • South America
  • Middle East & Africa

Insights are provided for each region and major countries within the regions

Electro-optical (EO) & Infrared (IR) Sensors Market Primary Respondent

 

Key Players

  • Leonardo SpA
  • FLIR Systems Inc.
  • L3Harris Technologies Inc.
  • BAE Systems PLC
  • Thales Group
  • Ultra-Electronics Holding
  • Lockheed Martin Corporation
  • Northrop Grumman Corporation
  • The Raytheon Company
  • Elbit Systems Ltd.
  • Saab Group
  • Rockwell Collins, Inc.
  • Rheinmetall AG
  • Textron Inc.
  • Israel Aerospace Industries

Recent Developments

  • In March 2021, Safran Electronics & Defense signed a contract with Dassault Aviation to provide new generation Euroflir™410 optronic (electro-optical) systems for two different Falcon-based aircraft: a dozen Albatros, derived from the Falcon 2000LXS, and the eight Falcon 50M Triton models upgraded as part of the French navy's program to modernize its maritime surveillance and intervention aircraft. New-generation Euroflir 410 optronic systems allow France's Maritime Surveillance & Intervention Patrol (PATSIMAR) to enhance its stealthy very-high-altitude observation capabilities and carry out at-sea search & rescue or zone surveillance missions even under the most extreme conditions. The Triton modified Falcon 50M and Falcon 2000 Albatros aircraft will be deployed from 2023 and 2025, respectively, in line with the French government's latest defense planning bill and will gradually replace the current Falcon 50M and Falcon 200 Guardian aircraft in the 24F et 25F fleets, based in mainland France and overseas territories.
  • In May 2020, Israel’s Rafael Advanced Defense Systems announced that its Litening-5 and RecceLite podded systems are to equip the Leonardo M-346FA light attack aircraft in the integration of fifth-generation podded electro-optical/infrared (EO/IR) systems to the aircraft. The aircraft comes equipped with a Leonardo Grifo-346 multi-mode radar, and the addition of targeting and reconnaissance pods will expand its operational capabilities.

Reasons to Acquire

  • Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
  • Gain authentic and granular data access for Electro-optical (EO) & Infrared (IR) Sensors Market so as to understand the trends and the factors involved behind changing market situations
  • Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
  • In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope

 

Report Feature

Descriptions

Growth Rate

CAGR of 3.51% during the forecasting period, 2021-2028

Historical Data

2018-2019

Forecast Years

2021-2028

Base Year

2020

Units Considered

Revenue in USD billion and CAGR from 2021 to 2028

Report Segmentation

Platform and region.

Report Attribute

Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling

Regional Level Scope

North America, Europe, Asia-Pacific, South America, and Middle East and Africa

Country Level Scope

U.S., Japan, Germany, U.K., China, India, Brazil, UAE, South Africa (50+ Countries Across the Globe)

Companies Profiled

Leonardo SpA, FLIR Systems Inc., L3Harris Technologies Inc., BAE Systems PLC, Thales Group, Ultra Electronics Holding, Lockheed Martin Corporation, Northrop Grumman Corporation, The Raytheon Company, Elbit Systems Ltd., Saab Group, Rockwell Collins, Inc., Rheinmetall AG, Textron Inc., and Israel Aerospace Industries

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