Market Size of Air-based Military Electro-optical And Infrared Systems Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 4.83 Billion |
| Market Size (2029) | USD 5.56 Billion |
| CAGR (2024 - 2029) | 2.84 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Air-based Military Electro-optical And Infrared Systems Market Analysis
The Air-based Military Electro-optical And Infrared Systems Market size is estimated at USD 4.70 billion in 2023, and is expected to reach USD 5.41 billion by 2028, growing at a CAGR of 2.84% during the forecast period (2023-2028).
The global market for air-based military electro-optical and infrared systems is expected to grow steadily as countries seek to enhance their airborne intelligence, surveillance, and reconnaissance (ISR) capabilities.
Some key factors driving the market growth are the increasing defense expenditures of various nations, the rising threat of terrorism and border conflicts, the development of new-generation aerial platforms, and the advancement of sensor technologies. However, the market also faces some challenges, such as design constraints, technological limitations, supply chain risks, and budget cuts that may hamper market growth in some countries. Still, with the current growth rate, the market is expected to grow positively during the forecast period.
The market is also expected to witness several opportunities in the future as new technologies and applications emerge, such as the development of hyperspectral imaging sensors that can capture images across a wide range of wavelengths and the adoption of these systems for counter-drone operations.
