ResearchMoz include new market research report” Global Soldier Modernization Market 2014 – 2024: Industry Analysis, Size, Share, Growth, Trends And Forecast” to its huge collection of research reports.
Browse PDF – Global Military Electro Optical Infrared (EO-IR) Market 2014-2024
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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