“Sharp Eyes in the Sky”
says Kar. According to SDI, technological innovations are also responsible for the widespread incorporation of EO/IR systems. New versions of EO/IR systems provide higher-resolution images, while simultaneously reducing size and power consumption so that more cameras can be used on platforms that are less expensive. “This is also one of the major reasons why EO/IR systems – once only available to elite Special Forces – are now prevalent in regular army units,” adds Kar.
In another forecast, the military electro- optics/ infrared systems market was estimated to be USD 10.15 billion in 2016 and is projected to reach USD 14.20 billion by 2022, at a CAGR of 5.75% from 2016 to 2022. The objectives of this study were to analyse the military electrooptics/infrared systems market, along with statistics from 2016 to 2022 as well as to define, describe, and forecast the military electro-optics/infrared systems market on the basis of platform, system, technology, sensor technology, imaging technology, and region.
The military electro- optics/ infrared systems ecosystem includes electro-optics equipment providers such as Lockheed Martin Corporation ( US), Northrop Grumman Corporation (US), BAE Systems Plc. (UK), The Raytheon Company (US), and Thales Group (France), among others. Component manufacturers in this market include L-3 Communications Holdings, Inc. (US), Saab AB (Sweden), Rockwell