EO/IR market to increase by 11.6% every year through 2030: reportNews
November 15, 2022
DUBLIN, Ireland. The electro-optical/infrared (EO/IR) market will increase by 11.6% each year through 2030 as demand for military countermeasures increases, a new report predicts.
The report, from Research and Markets, states that while EO/IR systems have always enjoyed strong demand, there is growing demand for EO/IR systems paired with countermeasures due to activities in the Indo-Pacific Ocean and attempts by Western governments to figure out ways to better overcome electronic warfare capabilities of China and Russia.
But the trend is toward upgrading existing EO/IR systems rather than buying new ones, the report notes.
"Spectrum supremacy plays a strong role in the development, manufacturing and procurement of EO/IR systems," the report states. "Not all nations afford to purchase new EO/IR systems and the inclination is toward integrating next-generation sensors and other technologies into the existing EO/IR systems. Even countries such as the US and European strong countries initiated upgrading existing EO/IR systems and procuring new ones for ambitious programs such as military or army modernisation."
System integration plays a "crucial role" in assembling and pairing EO/IR systems with other technologies, the report states.
"In modern EO/IR systems utmost care in integrating emerging technologies such as communication and data links, data sharing and data analytics is taken," it adds.