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The growth will be driven by increasing usage of Electro Optical systems in surveillance operations.
Growth will be driven by geographical regions such as APAC, North America, and Europe. The North American market will see growth based on replacement and upgrade of existing EO systems for soldier and vehicle mounted systems. The growth in APAC will be driven by procurement of newer platforms such as naval vessels, main battle tanks, and fighter aircraft. Though all the fighter aircraft that will be procured in this region will not have an EO system, a considerable number will use external EO pods.
According to Market Research , Aerospace and Defense business unit at MarketsandMarkets “The electro optical systems market is expected to show substantial growth by 2020 with a CAGR of 3.00%”.
The growth will be driven by increasing usage of EO systems in surveillance operations. Border protection agencies are using EO equipment to monitor and prevent intrusion attempts. EO infrared systems are being used as a complement for radar systems on land and ships. EO systems acting as a complement for radar systems on land are effective in tracking stealth aircraft and low observable missiles. In naval platforms, EO systems are finding increasing use in next generation close in weapon system (CIWS). CIWS use EO systems as a complement for radars for target acquisition and engagement.
EO systems are also being increasingly used in the aerospace sector for the purpose of non destructive testing. NDT uses infrared and laser EO systems to check the structural integrity of a component. In the defense segment, EO systems procurement is driven by upgrades of the existing systems such as laser range finders. Development of eye safe lasers that is harmless for the soldier’s eye is becoming the need of the hour and will be replacing the existing range of finding systems of defense forces around the world.
Electro-Optical Market by Product (Infrared and Laser), by Segments (Defense, Aerospace, and Homeland Security), by Application (Airborne, Naval and Land-based Systems) & by Geography (Asia-Pacific, Europe, The Middle East, North America and South America) – Forecasts & Analysis 2014-2020
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