Jane Edwards
A new Research and Markets report predicts the worldwide market for military infrared and electro-optical systems to record compound annual growth rate of 6.07 percent through 2019.
The market research firm said Wednesday an increase in demand for vehicle electronics or vetronics and technological advances in EO/IR sensors and radio frequency jamming systems for use in warfare environments will drive activity in the global military EO/IR market over the next four years.
The global market will also see an increase in the adoption of long wavelength infrared systems designed to provide improved thermal imaging, range identification and target detection capabilities for armored vehicles, according to the report.
Issues with unmanned platforms that rely on EO/IR devices for navigation and adversary detection are likely to pose a major challenge to the market’s growth, Research and Markets notes.
BAE Systems, Elbit Systems, Lockheed Martin, Raytheon and Thales are among the key market players cited in the report.
