Report Overview

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

Market Share by End Use

The electro-optical/infrared (EO/IR) systems market by end use is anticipated to be dominated by the military sector throughout the forecasted period. Developments in sensor technology, increasing international tension and conflict, rising demand, and the preference for small unmanned aerial vehicles are some of the key drivers propelling the segment's expansion.

 

The development of complex and powerful sensor technologies, such as laser range finders, laser spot detectors, compass thermographic sensors, and low-light television cameras, is the result of technological developments. These modern tools have made a significant contribution in boosting terrestrial security.

 

Additionally, there have been more frequent instances of international conflict and territorial disputes. This has increased demand for advanced and high precision sensors. Small, unmanned aircrafts offer advantages such as easy navigation and undetected flying due to which they have been growing in popularity, increasing the demand for EO/IR systems.

 

Market Share by Region

North America is a leading shareholder in the global electro-optical/infrared (EO/IR) systems market and is anticipated to develop at the quickest rate during the forecast period. This is due to the strong demand for EO/IR systems from the United States armed forces. The United States has made significant investments in the research and acquisition of electro optical systems for various military platforms, including naval vessels, armoured vehicles, aircraft, submarines, unmanned aerial vehicles (UAV), and helicopters.

 

The United States is also increasing its expenditure in cutting-edge weapon systems due to the growing capabilities of other nations on the battlefield. Additionally, the increased purchase of advanced ISR and other equipment that improve the military's situational awareness was substantially influenced by the United States military's expanding involvement in numerous international conflicts.

 

The Asia Pacific region is anticipated to register substantial growth in the electro-optical/infrared (EO/IR) systems market. This can be attributed to the growing economies of countries in the region, which have fuelled expenditures in the military industry to fortify their current infrastructure. Growing territorial conflicts in the area and rising military spending are driving the market's expansion. As a result, the armed services in the region are investing heavily on plans to modernise their military electronics systems.

 

Additionally, it is anticipated that increased development and acquisition of cutting-edge military aircraft and unmanned vehicles for military operations in the Asia Pacific will increase the demand for effective systems like EO/IR systems, thus propelling the electro-optical/infrared (EO/IR) systems market growth.

 

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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