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Global Electro-Optical/Infrared (EO/IR) Systems Market: By Technology: Cooled, Uncooled; By Sensor Technology: Scanning Sector, Staring Sector; By Imaging Technology: Multispectral, Hyperspectral; By Wavelength: Ultraviolet, Short Wavelength Infrared, Others; By Platform; By End Use; Regional Analysis; Competitive Landscape; 2023-2028

Global Electro-Optical/Infrared (EO/IR) Systems Market Outlook

The global electro-optical/infrared (EO/IR) systems market size reached a value of USD 15.35 billion in 2021. During the forecast period of between 2023 and 2028, the market is expected to grow at a CAGR of 5.60% to reach USD 21.29 billion in 2027.

 

Key Trends in the Market

Devices that use a combination of optics and electronics for producing, detecting, and measuring radiation on the optical spectrum are referred to as electro-optical systems, or EO systems. Law enforcement and military departments generally use electro optical systems or infrared systems as imaging systems to improve situational awareness of settings during the day, at night, and even in low light situations. Common applications of EO/IR systems include airborne homeland security, surveillance, patrol, warfare, search and rescue, and reconnaissance missions.

 

  • There is a growing need to integrate different systems so they may work together to create enterprise-like systems that provide a more comprehensive perspective of the battlefield. As a result, several forces are increasingly concentrating on real-time data collection and enhanced situational awareness. Due to their enhanced target recognition abilities and high range capabilities, EO/IR sensors will be useful in the military sector. As a result, many countries are heavily investing in these systems.
  • Additionally, the electro-optical/infrared (EO/IR) systems market is expected to grow due to the increasing need for modernisation of older systems. Electronic warfare, optical surveillance, and observation systems, as well as missile warning receivers, can all benefit from updated EO/IR systems.
  • EO/IR systems are increasingly utilised in diverse applications, fuelled by the expanding trend of system miniaturisation, and need for increasing accuracy, and cost- and reliability-effectiveness. Improved EO/IR systems are being developed as a result of research into third generation nonlinear crystals, forward-looking infrared, sophisticated 3D visualisation, laser radars, smart seekers and sensors, and hyperspectral and multispectral sensors, which is having a beneficial impact on the market.

 

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

Based on technology, the market is divided into cooled and uncooled. On the basis of sensor technology, the market is segmented into scanning sector and staring sector. The market, on the basis of imaging technology, can be divided into multispectral and hyperspectral. Based on wavelength, the market is segmented into ultraviolet, short wavelength infrared, medium wavelength infrared, long wavelength infrared, and near infrared. The various platforms in the electro-optical/infrared (EO/IR) systems market are land, airborne, and marine/naval. By end use, the market can be bifurcated into military and commercial. The regional markets for electro-optical/infrared (EO/IR) systems can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global electro-optical/infrared (EO/IR) systems market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

 

  • Raytheon Technologies Corporation
  • Lockheed Martin Corporation
  • Thales Group
  • Northrop Grumman Corporation
  • BAE Systems PLC
  • Rheinmetall AG
  • Others

 

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.

 

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.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2022
Historical Period 2018-2022
Forecast Period 2023-2028
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Technology
  • Sensor Technology
  • Imaging Technology
  • Wavelength
  • Platform
  • End Use
  • Region
Breakup by Technology
  • Cooled
  • Uncooled
Breakup by Sensor Technology
  • Scanning Sector
  • Staring Sector
Breakup by Imaging Technology
  • Multispectral
  • Hyperspectral
Breakup by Wavelength
  • Ultraviolet
  • Short Wavelength Infrared
  • Medium Wavelength Infrared
  • Long Wavelength Infrared
  • Near Infrared
Breakup by Platform
  • Land
  • Airborne
  • Marine/Naval
Breakup by End Use
  • Military
  • Commercial
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT
  • Porter's Five Forces
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Raytheon Technologies Corporation
  • Lockheed Martin Corporation
  • Thales Group
  • Northrop Grumman Corporation
  • BAE Systems PLC
  • Rheinmetall AG
  • Others

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Electro-Optical/Infrared (EO/IR) Systems Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Electro-Optical/Infrared (EO/IR) Systems Historical Market (2018-2022) 
    8.3    Global Electro-Optical/Infrared (EO/IR) Systems Market Forecast (2023-2028)
    8.4    Global Electro-Optical/Infrared (EO/IR) Systems Market by Technology
        8.4.1    Cooled
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2018-2022)
            8.4.1.3    Forecast Trend (2023-2028)
        8.4.2    Uncooled
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2018-2022)
            8.4.2.3    Forecast Trend (2023-2028)
    8.5    Global Electro-Optical/Infrared (EO/IR) Systems Market by Sensor Technology
        8.5.1    Scanning Sector
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2018-2022)
            8.5.1.3    Forecast Trend (2023-2028)
        8.5.2    Staring Sector
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2018-2022)
            8.5.2.3    Forecast Trend (2023-2028)
    8.6    Global Electro-Optical/Infrared (EO/IR) Systems Market by Imaging Technology
        8.6.1    Multispectral 
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2018-2022)
            8.6.1.3    Forecast Trend (2023-2028)
        8.6.2    Hyperspectral
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2018-2022)
            8.6.2.3    Forecast Trend (2023-2028)
    8.7    Global Electro-Optical/Infrared (EO/IR) Systems Market by Wavelength 
        8.7.1    Ultraviolet
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2018-2022)
            8.7.1.3    Forecast Trend (2023-2028)
        8.7.2    Short Wavelength Infrared
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2018-2022)
            8.7.2.3    Forecast Trend (2023-2028)
        8.7.3    Medium Wavelength Infrared
            8.7.3.1    Market Share
            8.7.3.2    Historical Trend (2018-2022)
            8.7.3.3    Forecast Trend (2023-2028)
        8.7.4    Long Wavelength Infrared
            8.7.4.1    Market Share
            8.7.4.2    Historical Trend (2018-2022)
            8.7.4.3    Forecast Trend (2023-2028)
        8.7.5    Near Infrared
            8.7.5.1    Market Share
            8.7.5.2    Historical Trend (2018-2022)
            8.7.5.3    Forecast Trend (2023-2028)
    8.8    Global Electro-Optical/Infrared (EO/IR) Systems Market by Platform
        8.8.1    Land
            8.8.1.1    Market Share
            8.8.1.2    Historical Trend (2018-2022)
            8.8.1.3    Forecast Trend (2023-2028)
        8.8.2    Airborne
            8.8.2.1    Market Share
            8.8.2.2    Historical Trend (2018-2022)
            8.8.2.3    Forecast Trend (2023-2028)
        8.8.3    Marine/Naval
            8.8.3.1    Market Share
            8.8.3.2    Historical Trend (2018-2022)
            8.8.3.3    Forecast Trend (2023-2028)
    8.9    Global Electro-Optical/Infrared (EO/IR) Systems Market by End Use
        8.9.1    Military
            8.9.1.1    Market Share
            8.9.1.2    Historical Trend (2018-2022)
            8.9.1.3    Forecast Trend (2023-2028)
        8.9.2    Commercial
            8.9.2.1    Market Share
            8.9.2.2    Historical Trend (2018-2022)
            8.9.2.3    Forecast Trend (2023-2028)
    8.10    Global Electro-Optical/Infrared (EO/IR) Systems Market by Region
        8.10.1    Market Share
            8.10.1.1    North America
            8.10.1.2    Europe
            8.10.1.3    Asia Pacific
            8.10.1.4    Latin America
            8.10.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2018-2022)
        9.1.2    Forecast Trend (2023-2028)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2018-2022)
        9.2.2    Forecast Trend (2023-2028)
        9.2.3    Breakup by Country 
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2018-2022)
        9.3.2    Forecast Trend (2023-2028)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2018-2022)
        9.4.2    Forecast Trend (2023-2028)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2018-2022)
        9.5.2    Forecast Trend (2023-2028)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    Key Indicators for Demand
    10.4    Key Indicators for Price
11    Competitive Landscape
    11.1    Market Structure
    11.2    Company Profiles
        11.2.1    Raytheon Technologies Corporation
            11.2.1.1    Company Overview
            11.2.1.2    Product Portfolio
            11.2.1.3    Demographic Reach and Achievements
            11.2.1.4    Certifications
        11.2.2    Lockheed Martin Corporation
            11.2.2.1    Company Overview
            11.2.2.2    Product Portfolio
            11.2.2.3    Demographic Reach and Achievements
            11.2.2.4    Certifications
        11.2.3    Thales Group
            11.2.3.1    Company Overview
            11.2.3.2    Product Portfolio
            11.2.3.3    Demographic Reach and Achievements
            11.2.3.4    Certifications
        11.2.4    Northrop Grumman Corporation
            11.2.4.1    Company Overview
            11.2.4.2    Product Portfolio
            11.2.4.3    Demographic Reach and Achievements
            11.2.4.4    Certifications
        11.2.5    BAE Systems PLC
            11.2.5.1    Company Overview
            11.2.5.2    Product Portfolio
            11.2.5.3    Demographic Reach and Achievements
            11.2.5.4    Certifications
        11.2.6    Rheinmetall AG
            11.2.6.1    Company Overview
            11.2.6.2    Product Portfolio
            11.2.6.3    Demographic Reach and Achievements
            11.2.6.4    Certifications
        11.2.7    Others
12    Industry Events and Developments


List of Key Figures and Tables

1.    Global Electro-Optical/Infrared (EO/IR) Systems Market: Key Industry Highlights, 2018 and 2028
2.    Global Electro-Optical/Infrared (EO/IR) Systems Historical Market: Breakup by Technology (USD Million), 2018-2022
3.    Global Electro-Optical/Infrared (EO/IR) Systems Market Forecast: Breakup by Technology (USD Million), 2023-2028
4.    Global Electro-Optical/Infrared (EO/IR) Systems Historical Market: Breakup by Sensor Technology (USD Million), 2018-2022
5.    Global Electro-Optical/Infrared (EO/IR) Systems Market Forecast: Breakup by Sensor Technology (USD Million), 2023-2028
6.    Global Electro-Optical/Infrared (EO/IR) Systems Historical Market: Breakup by Imaging Technology (USD Million), 2018-2022
7.    Global Electro-Optical/Infrared (EO/IR) Systems Market Forecast: Breakup by Imaging Technology (USD Million), 2023-2028
8.    Global Electro-Optical/Infrared (EO/IR) Systems Historical Market: Breakup by Wavelength (USD Million), 2018-2022
9.    Global Electro-Optical/Infrared (EO/IR) Systems Market Forecast: Breakup by Wavelength (USD Global Electro-Optical/Infrared (EO/IR) Systems Historical Market: Breakup by Platform (USD Million), 2018-2022
10.    Global Electro-Optical/Infrared (EO/IR) Systems Market Forecast: Breakup by Platform (USD Global Electro-Optical/Infrared (EO/IR) Systems Historical Market: Breakup by End Use (USD Million), 2018-2022
11.    Global Electro-Optical/Infrared (EO/IR) Systems Market Forecast: Breakup by End Use (USD Million), 2023-2028
12.    Global Electro-Optical/Infrared (EO/IR) Systems Historical Market: Breakup by Region (USD Million), 2018-2022
13.    Global Electro-Optical/Infrared (EO/IR) Systems Market Forecast: Breakup by Region (USD Million), 2023-2028
14.    North America Electro-Optical/Infrared (EO/IR) Systems Historical Market: Breakup by Country (USD Million), 2018-2022
15.    North America Electro-Optical/Infrared (EO/IR) Systems Market Forecast: Breakup by Country (USD Million), 2023-2028
16.    Europe Electro-Optical/Infrared (EO/IR) Systems Historical Market: Breakup by Country (USD Million), 2018-2022
17.    Europe Electro-Optical/Infrared (EO/IR) Systems Market Forecast: Breakup by Country (USD Million), 2023-2028
18.    Asia Pacific Electro-Optical/Infrared (EO/IR) Systems Historical Market: Breakup by Country (USD Million), 2018-2022
19.    Asia Pacific Electro-Optical/Infrared (EO/IR) Systems Market Forecast: Breakup by Country (USD Million), 2023-2028
20.    Latin America Electro-Optical/Infrared (EO/IR) Systems Historical Market: Breakup by Country (USD Million), 2018-2022
21.    Latin America Electro-Optical/Infrared (EO/IR) Systems Market Forecast: Breakup by Country (USD Million), 2023-2028
22.    Middle East and Africa Electro-Optical/Infrared (EO/IR) Systems Historical Market: Breakup by Country (USD Million), 2018-2022
23.    Middle East and Africa Electro-Optical/Infrared (EO/IR) Systems Market Forecast: Breakup by Country (USD Million), 2023-2028
24.    Global Electro-Optical/Infrared (EO/IR) Systems Market Structure

Key Questions Answered in the Report

In 2021, the global market size for electro-optical/infrared (EO/IR) systems attained a value of nearly USD 15.35 billion.

The market for electro-optical/infrared (EO/IR) systems is projected to grow at a CAGR of 5.60% between 2023 and 2028.

The market for electro-optical/infrared (EO/IR) systems is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach a value of USD 21.29 billion by 2027.

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 industry trends propelling the growth of the market.

The major players in the industry are Raytheon Technologies Corporation, Lockheed Martin Corporation, Thales Group, Northrop Grumman Corporation, BAE Systems PLC, and Rheinmetall AG, 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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