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Global Electro-Optical/Infrared (EO/IR) Systems Market: By Technology: Cooled, Uncooled; By Sensor Technology: Scanning Sensor, Staring Sensor; By Imaging Technology: Multispectral, Hyperspectral; By Wavelength; By Platform; By End Use; Regional Analysis; Competitive Landscape; 2024-2032
Global Electro-Optical/Infrared (EO/IR) Systems Market Outlook
The global electro-optical/infrared (EO/IR) systems market attained a value of USD 15.07 billion in 2023. The market is projected to grow at a CAGR of 3.7% between 2024 and 2032 to reach USD 18.88 billion by 2032.
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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
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Based on technology, the market is divided into cooled and uncooled. On the basis of sensor technology, the market is segmented into scanning sensor and staring sensor. 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
- L3Harris Technologies, Inc.
- 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.
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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 | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Technology |
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| Breakup by Sensor Technology |
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| Breakup by Imaging Technology |
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| Breakup by Wavelength |
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| Breakup by Platform |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*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 (2018-2023)
8.3 Global Electro-Optical/Infrared (EO/IR) Systems Market Forecast (2024-2032)
8.4 Global Electro-Optical/Infrared (EO/IR) Systems Market by Technology
8.4.1 Cooled
8.4.1.1 Historical Trend (2018-2023)
8.4.1.1 Forecast Trend (2024-2032)
8.4.2 Uncooled
8.4.2.1 Historical Trend (2018-2023)
8.4.2.1 Forecast Trend (2024-2032)
8.5 Global Electro-Optical/Infrared (EO/IR) Systems Market by Sensor Technology
8.5.1 Scanning Sensor
8.5.1.1 Historical Trend (2018-2023)
8.5.1.1 Forecast Trend (2024-2032)
8.5.2 Staring Sensor
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global Electro-Optical/Infrared (EO/IR) Systems Market by Imaging Technology
8.6.1 Multispectral
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Hyperspectral
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.7 Global Electro-Optical/Infrared (EO/IR) Systems Market by Wavelength
8.7.1 Ultraviolet
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Short Wavelength Infrared
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Medium Wavelength Infrared
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Long Wavelength Infrared
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Near Infrared
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
8.8 Global Electro-Optical/Infrared (EO/IR) Systems Market by Platform
8.8.1 Land
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Airborne
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Marine/Naval
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.9 Global Electro-Optical/Infrared (EO/IR) Systems Market by End Use
8.9.1 Military
8.9.1.1 Historical Trend (2018-2023)
8.9.1.2 Forecast Trend (2024-2032)
8.9.2 Commercial
8.9.2.1 Historical Trend (2018-2023)
8.9.2.2 Forecast Trend (2024-2032)
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 (2018-2023)
9.1.2 Forecast Trend (2024-2032)
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 (2018-2023)
9.2.2 Forecast Trend (2024-2032)
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 (2018-2023)
9.3.2 Forecast Trend (2024-2032)
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 (2018-2023)
9.4.2 Forecast Trend (2024-2032)
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 (2018-2023)
9.5.2 Forecast Trend (2024-2032)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Turkey
9.5.3.4 Israel
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 L3Harris Technologies, Inc.
11.2.7.1 Company Overview
11.2.7.2 Product Portfolio
11.2.7.3 Demographic Reach and Achievements
11.2.7.4 Certifications
11.2.8 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 2032
2. Global Electro-Optical/Infrared (EO/IR) Systems Historical Market: Breakup by Technology (USD Million), 2018-2023
3. Global Electro-Optical/Infrared (EO/IR) Systems Market Forecast: Breakup by Technology (USD Million), 2024-2032
4. Global Electro-Optical/Infrared (EO/IR) Systems Historical Market: Breakup by Sensor Technology (USD Million), 2018-2023
5. Global Electro-Optical/Infrared (EO/IR) Systems Market Forecast: Breakup by Sensor Technology (USD Million), 2024-2032
6. Global Electro-Optical/Infrared (EO/IR) Systems Historical Market: Breakup by Imaging Technology (USD Million), 2018-2023
7. Global Electro-Optical/Infrared (EO/IR) Systems Market Forecast: Breakup by Imaging Technology (USD Million), 2024-2032
8. Global Electro-Optical/Infrared (EO/IR) Systems Historical Market: Breakup by Wavelength (USD Million), 2018-2023
9. Global Electro-Optical/Infrared (EO/IR) Systems Market Forecast: Breakup by Wavelength (USD Million), 2024-2032
10. Global Electro-Optical/Infrared (EO/IR) Systems Historical Market: Breakup by Platform (USD Million), 2018-2023
11. Global Electro-Optical/Infrared (EO/IR) Systems Market Forecast: Breakup by Platform (USD Million), 2024-2032
12. Global Electro-Optical/Infrared (EO/IR) Systems Historical Market: Breakup by End Use (USD Million), 2018-2023
13. Global Electro-Optical/Infrared (EO/IR) Systems Market Forecast: Breakup by End Use (USD Million), 2024-2032
14. Global Electro-Optical/Infrared (EO/IR) Systems Historical Market: Breakup by Region (USD Million), 2018-2023
15. Global Electro-Optical/Infrared (EO/IR) Systems Market Forecast: Breakup by Region (USD Million), 2024-2032
16. North America Electro-Optical/Infrared (EO/IR) Systems Historical Market: Breakup by Country (USD Million), 2018-2023
17. North America Electro-Optical/Infrared (EO/IR) Systems Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Europe Electro-Optical/Infrared (EO/IR) Systems Historical Market: Breakup by Country (USD Million), 2018-2023
19. Europe Electro-Optical/Infrared (EO/IR) Systems Market Forecast: Breakup by Country (USD Million), 2024-2032
20. Asia Pacific Electro-Optical/Infrared (EO/IR) Systems Historical Market: Breakup by Country (USD Million), 2018-2023
21. Asia Pacific Electro-Optical/Infrared (EO/IR) Systems Market Forecast: Breakup by Country (USD Million), 2024-2032
22. Latin America Electro-Optical/Infrared (EO/IR) Systems Historical Market: Breakup by Country (USD Million), 2018-2023
23. Latin America Electro-Optical/Infrared (EO/IR) Systems Market Forecast: Breakup by Country (USD Million), 2024-2032
24. Middle East and Africa Electro-Optical/Infrared (EO/IR) Systems Historical Market: Breakup by Country (USD Million), 2018-2023
25. Middle East and Africa Electro-Optical/Infrared (EO/IR) Systems Market Forecast: Breakup by Country (USD Million), 2024-2032
26. Global Electro-Optical/Infrared (EO/IR) Systems Market Structure
Key Questions Answered in the Report
In 2023, 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 2024 and 2032.
The market for electro-optical/infrared (EO/IR) systems is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of USD 18.88 billion by 2032.
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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