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Electro Optical Systems Global Market Report 2022: Growing Use of Sensor-Based Systems in Military Applications Augurs Well for the Market

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Global Market for Electro Optical Systems

Global Market for Electro Optical Systems
Global Market for Electro Optical Systems

Dublin, Nov. 04, 2022 (GLOBE NEWSWIRE) -- The "Electro Optical Systems - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Global Electro Optical Systems Market to Reach $14.9 Billion by 2027

Amid the COVID-19 crisis, the global market for Electro Optical Systems estimated at US$11.3 Billion in the year 2020, is projected to reach a revised size of US$14.9 Billion by 2027, growing at a CAGR of 4.1% over the period 2020-2027. Airborne, one of the segments analyzed in the report, is projected to record a 3.5% CAGR and reach US$9.8 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Ground segment is readjusted to a revised 4.7% CAGR for the next 7-year period.

The U.S. Market is Estimated at $4.1 Billion, While China is Forecast to Grow at 5.8% CAGR

The Electro Optical Systems market in the U.S. is estimated at US$4.1 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$2 Billion by the year 2027 trailing a CAGR of 5.8% over the period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.9% and 3.9% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.1% CAGR.

Naval Segment to Record 6.1% CAGR

In the global Naval segment, USA, Canada, Japan, China and Europe will drive the 6.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.2 Billion in the year 2020 will reach a projected size of US$1.8 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets.

Select Competitors (Total 62 Featured)

  • BAE Systems PLC

  • Collins Aerospace

  • Elbit Systems Ltd.

  • FLIR Systems, Inc.

  • General Dynamics Mission Systems, Inc.

  • Instro Precision Limited

  • Israel Aerospace Industries

  • L3Harris Technologies, Inc.

  • Leonardo DRS

  • Lockheed Martin Corporation

  • Rheinmetall AG

  • Saab AB

  • Safran S.A.

  • Textron Systems

  • Thales Group

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • Military Electro Optical and Infrared Systems Market: Evolving Defense Needs Support Growth

  • Advancements in Defense Electronics and Miniaturization of Military Electronics Support Market Growth

  • Growing Use of Sensor-Based Systems in Military Applications Augurs Well for the Market

  • With Defense Budgets Coming Under Intense Pressure, EO Systems Market Witnesses Challenging Times

  • Defense Spending Trends Set Demand Dynamics for EO Systems

  • Improving Target Identification, Threat Assessment and Monitoring: Essential Capabilities of EO Systems

  • Growing Emphasis on Border Security Drives Demand for EO Systems

  • Continued Threat of Terrorism Drives the Focus on Surveillance as Counterterrorism Response

  • Thermal Cameras: An Important System for Securing Borders

  • Market Primed to Benefit from the Rising Adoption of High Capability UAVs

  • Increasing Use of Drones in the Battlefield Pushes Up Demand for EO/IR Systems

  • With Unmanned Aircrafts Posing Threat of Terrorism and Smuggling, EO/IR-based Counter-Drone Systems Grow in Prominence

  • Application of EO/IR in Homeland Security and Search and Rescue Missions: Opportunities for Growth

  • Technological Advances to Bolster Market Growth

  • A Glance at Select Innovations in Electro Optical Systems

  • New and Advanced EO Materials

  • Ultra-rapid EO Modulator for Converting THz Signals into Optical Signals

  • US Companies Offer Support to US Air Force for EO/RF-Related Technology Development

  • EO System-Based Coast Guard Technology for Turkey

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

  • Total Companies Profiled: 62

For more information about this report visit https://www.researchandmarkets.com/r/s600zi

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