Global Military Electro Optical Infrared (EO-IR) Market Analysis 2014: Industry Size, Shares, Growth, Trends and Forecast 2024 Research Report
March 07, 2014 --
Albany, NY (PRWEB) March 07, 2014
The Global Military EO/IR Market 2014-2024 offers the reader detailed analysis of the global military EO/IR Systems market over the next ten years, alongside potential market opportunities to enter the industry, using detailed market size forecasts.
What are the key drivers behind recent market changes?
The need for advanced situational awareness and information dissemination abilities is driving the development and procurement of several EO/IR based aircraft, rotorcraft and UAV payload systems. The industry participants are significantly investing in RandD in order to emerge with innovations in ground based, air based and naval segments. The MoDs are procuring a range of new sighting devices for their weapons as well as wearable night vision and thermal imaging systems for their future soldier programs.
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What makes this report unique and essential to read?
The Global Military Electro Optical Infrared (EO/IR Systems) Market 2014-2024 provides detailed analysis of the current industry size and growth expectations from 2014 to 2024, including highlights of key growth stimulators. It also benchmarks the industry against key global markets and provides a detailed understanding of emerging opportunities in specific areas.
Key Features and Benefits
The report provides detailed analysis of the market for military EO/IR Systems during 2014-2024, including the factors that influence why countries are investing or cutting expenditure on military ammunition. It provides detailed expectations of growth rates and projected total expenditure.
Governments worldwide recognize the need to increase the promptness of military attacks while shortening the time taken to complete a mission. This is where EO/IR Systems are increasing in importance, with their ability to reduce the ISR mission-cycle time and help towards the rapid, ad hoc integration of platforms into strike forces and fast-reaction mission planning. The forecast period will also witness robust development of EO/IR compatible software applications to be used for the successful working of EO/IR Systems procured for various combat and homeland security purposes and to be used across all three platforms including air, sea and land. Use of these software applications on naval platforms is expected to present the fastest growing opportunity for suppliers during the forecast period.
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Key Market Issues
Miniaturization is one of the biggest challenges faced by the sector in recent times. It is also expected that it will scale up further during the forecast period. EO/IR sensors are becoming standard fitment across several military platforms especially in the air force. The military's round the world are focusing heavily on decreasing the size of the aircraft which is putting enormous pressure on the manufacturers as they have to compromise on performance in order to reduce the size and weight of the device especially the sensors.
EO/IR Systems were continuously deployed in Afghanistan on ground vehicles, UAVs and aircraft to support NATO troops with intelligence, surveillance, and reconnaissance and target acquisition capabilities in difficult terrains. In the process, these countries have piled up a large number of EO/IR System payloads and their associated sensors. The US and the UK purchased EO/IR Systems as urgent operational requests and thus, as stated by the UK MoD, the future use of these systems after the troops' withdrawal is unclear.
The sector growth in the past has come from new procurements these have been on the lower side after the recession due to budget cuts by defense ministries in the US and western European countries. Although, these developments have not significantly impacted the growth in the EO/IR industry, they have clogged the growth rates which have been forecasted to remain unprecedentedly high before the economic downturn in 2007.
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Recent years have witnessed a surge in the use of EO-IR Systems for ground soldiers and this trend is expected to further strengthen over the forecast period. Some of the new devices including EO/IR Wideband radios, thermal imagers, EO sensors, EO and IR high definition, and long range cameras incorporate an array of innovations, providing dismounted soldiers with improved capability in terms of protection, observation, lethality, survivability and C4I (command, control, communications, computers, and intelligence).
The military EO/IR market is witnessing rapid technological advancements owing to the continuously evolving needs of the militaries for ISR activities. The industry participants are significantly investing in RandD in order to emerge with innovations in ground based, air based and naval segments. The MoDs are procuring a range of new sighting devices for their weapons as well as wearable night vision and thermal imaging systems for their future soldier programs.
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