Land-based Military Electro-optical And Infrared Systems Market Size

Land-based Military Electro-optical and Infrared Systems Market Analysis

The Land-based Military Electro-optical And Infrared Systems Market size is estimated at USD 1.61 billion in 2024, and is expected to reach USD 1.87 billion by 2029, growing at a CAGR of 3.05% during the forecast period (2024-2029).

Advanced optronic systems have become essential to enhance land vehicles' combat effectiveness. Thermal sights, panoramic vision, and enhanced driver vision capabilities are some of the elements available for new and upgraded fighting vehicles. The amalgamation of these systems with advanced processing techniques enables operators to obtain wide-angle coverage for situational awareness and target acquisition, thereby helping them make better decisions on the battlefield.

In the current battlefield scenario, soldiers and land vehicles are required to function in the day, night, and under adverse weather and limited visibility conditions, where human vision is not enough. To counter this, military forces have been equipping their man-portable systems and armored vehicles with electro-optical vision systems to prepare them to fight in modern battlefield scenarios. This is expected to bolster the market prospects during the forecast period.

The growing military spending of many countries has been fuelling the development and procurement of new and advanced systems that use a wide variety of sensors, including EO/IR sensors. On this note, in 2022 the global military expenditure reached USD 2,240 billion, this was a growth of 6% from the year 2021. The market studied is expected to grow steadily over the forecast period due to the growing demand for enhanced imaging capabilities for various manned and unmanned systems. These systems make use of EO/IR sensors. Countries have been progressively adopting these systems to increase their situational awareness.