Report Overview

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

Electro-Optical/Infrared (EO/IR) Systems Market Competitive Landscape

Raytheon Technologies Corporation, a United States-based corporation, offers technology goods and services to the aerospace and defence sectors. The company's product line includes commercial, general aviation, and military aircraft engines, power generation management and distribution systems, engine control systems, and flight systems. Additionally, it provides solutions for hypersonic air warfare, command and control, cybersecurity, decision superiority, communications and navigation, naval warfare, land warfare, and space warfare.

 

Lockheed Martin Corporation, a global security and aerospace corporation, with its headquarters in Maryland in the United States, employs around 114,000 people worldwide. It focuses primarily on the manufacture, integration, and maintenance of high-tech systems, products, and services.

 

Thales Group, a leading provider of technology with its headquarters in Paris, France, has a reach across five continents. It is a supplier of cutting-edge technology, electronic systems, software, equipment, ground transportation, and services to the aerospace, defence, and security industries. For the land, marine, and air defence markets, the company also offers radio communications products, weapon systems, protection systems, vital information systems, network and infrastructure systems, and cybersecurity solutions.

 

Other market players include Northrop Grumman Corporation, BAE Systems PLC, and Rheinmetall AG, among others.

 

Electro-Optical/Infrared (EO/IR) Systems Market Report Snapshots

Electro-Optical/Infrared (EO/IR) Systems Market Size

Electro-Optical/Infrared (EO/IR) Systems Market Analysis

Electro-Optical/Infrared (EO/IR) Systems Market Share

Electro-Optical/Infrared (EO/IR) Systems Companies

 

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

In 2024, the global market size for electro-optical/infrared (EO/IR) systems attained a value of nearly USD 15.07 billion.

The market for electro-optical/infrared (EO/IR) systems is projected to grow at a CAGR of 3.7% between 2025 and 2034.

The market for electro-optical/infrared (EO/IR) systems is estimated to witness a healthy growth in the forecast period of 2025-2034 to reach a value of USD 18.88 billion by 2034.

The major drivers of the electro-optical/infrared (EO/IR) systems market include rising military spending, increasing accuracy, and cost- and reliability-effectiveness, and investments in the research and acquisition of electro optical systems for various military platforms.

The expanding trend of system miniaturisation, increasing need for modernisation, and growing applications of EO/IR systems are the key market trends propelling the growth of the market.

The major players in the market are Raytheon Technologies Corporation, Lockheed Martin Corporation, Thales Group, Northrop Grumman Corporation, BAE Systems PLC, and Rheinmetall AG, L3Harris Technologies, Inc., among others.

Working wavelength or spectral quantum efficiency distinguishes the two: The electro-optic (EO) spectral band, often known as the near ultraviolet (UV) to near IR range of light, can be detected by a CCD, while IR detectors can detect the entire IR spectrum.

EO surveillance is a multi-sensor targeting and surveillance system that enables aircrews to find, track, and identify targets at a distance.

A sensor that uses electro-optics (EO) transforms light waves into electronic impulses. It takes a measurement of the actual amount of light and converts it into a form that a machine can read.

Optical sensors can detect light, typically in a particular area of the electromagnetic spectrum (ultraviolet, visible, and infrared). The sensor converts the wavelength, frequency, or polarisation of the detected light into an electric signal as a result of the photoelectric effect.

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