Growing Demand for Advanced Military Systems Amid Increasing Defense Budgets
After years of painfully slow development owing to high equipment costs, Electro-Optics/Infrared (EO/IR) systems have found application in militaries across the globe. These systems provide enhanced visibility and extensively used for night vision, navigation, surveillance, and targeting by the armed forces.
The importance of these systems is seen to be taking quantum jumps, and the technological advancements have led to more reliable, rugged, and compact devices. These devices, in turn, find increased usage and acceptance in the present day scenario.
Electro-optic/Infrared systems are critical for border surveillance and situational awareness. The recent developments have paved the way for the application of EO/IR systems in all three types of forces, i.e. air, land and naval. These systems are customized to work along with the existing equipment for a more precise output. The EO/IR systems are further categorized based on the usage namely targeting system, electronic support measure, and imaging system.
It is estimated to record a growth rate of 7.25% for global military electro-optical and infrared systems market. The processed information gained by analyzing movements has always been critical in accomplishing the required mission. These systems consist of a broad category of equipment designed to support the military’s decision-making, planning, and intelligence.
It consists of devices and components that operate by analyzing the interaction of light with different materials. This system work on the electro-optical effect that relates to variance in the optical properties of different mediums. It can aid in assessing the movement and type of artillery of a battalion.
This system detects the infrared radiation. The infrared emissions are directly related to the temperature of a body, i.e. colder objects emit less energy than hotter objects. Since a human body temperature is much warmer than the surrounding temperatures, any objectionable movement in areas of less or zero visibility can be tracked by the forces.
Some of the major players are Rockwell Collins, Harris Corporation, Thales, Raytheon, Lockheed Martin Corporation, L-3 Communications Corporation, and Elbit Systems Ltd.
The demand for Electro-Optics/Infrared systems has seen positive growth in recent years amid increasing tensions among the largest economies of the world as per the market intelligence firm. The highest growth is predicted to be in the Asia-Pacific region due to rising dominance of China in South-Asia region. Also, India is on its way of revamping its military systems completely which will further supplement the growth of Global Military Electro-Optics / Infrared (EO-IR) Systems Market.