Jay Clemens
A new report from ASDReports expects advancements in sensor technologies to influence the military electro-optic/infrared systems market in the coming years.
The market analyst said EO/IR systems will register a year-over-year growth of 7.71 percent to become a $16.35 billion industry by 2020, driven by increased use in surveillance operations and as part of a close in weapons system.
Budget cuts in the U.S. will dampen EO/IR systems growth in North America compared to other regions, with Asia Pacific economies in particular tagged to focus on “creating an uncontested market space,” it added.
The report includes profiles on Lockheed Martin, Raytheon, L-3 Communications, BAE Systems, Thales, Northrop Grumman, DRS Technologies, Airbus, II-VI, Harris, Elbit Systems and Rafael Advanced Defense Systems, along with discussions of those companies’ growth strategies, investments and core competencies as key market players.
The research also contains details about procurement, integration and maintenance-related costs throughout the forecast period.
