Electro-optical (EO) & Infrared (IR) Sensors Market - Trends Forecast Till 2028

Market Overview

The Electro-optical (EO) & Infrared (IR) Sensors market is poised to register a CAGR of 3.51% during the forecast period 2021-2028.

Electro-optical and infrared systems also referred to as EO/IR systems, cover a wide range of distinct technologies based on targets and their missions. These sensors include both visible spectrum and infrared sensors, due to which EO/IR systems provide total situational awareness during both day and night, even in low light conditions. EO/IR sensors can be deployed in many ways. They are usually mounted on aircraft or vehicles, used at sea, or are hand-carried, and can identify targets, track moving targets, and assess threats from a distance. Their applications include, but are not limited to, airborne security, combat, patrol, surveillance, reconnaissance, and search and rescue operations.

Growing number of unmanned vehicles and the rising use of these systems in such vehicles for surveillance purposes, increasing defence spends, and strong requirement to improve military ISR capabilities are some of the factors that have supported long-term expansion for Electro-optical (EO) & Infrared (IR) Sensors Market.

Regional Analysis

North America held the largest share in the market in 2020, primarily due to high demand from the US armed forces for the EO/IR systems. The enhanced capabilities of the adversaries on the battlefield forced the United States to increase its investment in technologically advanced weapon systems.

Insights are provided for each region and major countries within the regions

Competitive Landscape

Key Players

• Leonardo SpA
• FLIR Systems Inc.
• L3Harris Technologies Inc.
• BAE Systems PLC
• Thales Group
• Ultra-Electronics Holding
• Lockheed Martin Corporation
• Northrop Grumman Corporation
• The Raytheon Company
• Elbit Systems Ltd.
• Saab Group
• Rockwell Collins, Inc.
• Rheinmetall AG
• Textron Inc.
• Israel Aerospace Industries

Recent Developments

• In March 2021, Safran Electronics & Defense signed a contract with Dassault Aviation to provide new generation Euroflir™410 optronic (electro-optical) systems for two different Falcon-based aircraft: a dozen Albatros, derived from the Falcon 2000LXS, and the eight Falcon 50M Triton models upgraded as part of the French navy's program to modernize its maritime surveillance and intervention aircraft. New-generation Euroflir 410 optronic systems allow France's Maritime Surveillance & Intervention Patrol (PATSIMAR) to enhance its stealthy very-high-altitude observation capabilities and carry out at-sea search & rescue or zone surveillance missions even under the most extreme conditions. The Triton modified Falcon 50M and Falcon 2000 Albatros aircraft will be deployed from 2023 and 2025, respectively, in line with the French government's latest defense planning bill and will gradually replace the current Falcon 50M and Falcon 200 Guardian aircraft in the 24F et 25F fleets, based in mainland France and overseas territories.
• In May 2020, Israel’s Rafael Advanced Defense Systems announced that its Litening-5 and RecceLite podded systems are to equip the Leonardo M-346FA light attack aircraft in the integration of fifth-generation podded electro-optical/infrared (EO/IR) systems to the aircraft. The aircraft comes equipped with a Leonardo Grifo-346 multi-mode radar, and the addition of targeting and reconnaissance pods will expand its operational capabilities.

Reasons to Acquire

• Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
• Gain authentic and granular data access for Electro-optical (EO) & Infrared (IR) Sensors Market so as to understand the trends and the factors involved behind changing market situations
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope