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3. Military Electro-Optical Systems Companies - Northrop Grumman(US) and Lockheed Martin Corporation (US) are the Key Players

The military electro-optics & infrared (EO/IR) System market is estimated to be USD 7.8 billion in 2023 and is projected to reach USD 9.5 billion by 2028, at a CAGR of 4.0% from 2023 to 2028. The market growth can be attributed to an increasing investments in cargo drones, reducing prices of cargo drone components and demand for more effective and faster cargo shipment.

Major Military Electro-Optical Systems Companies Include:

• Northrop Grumman Corporation (US)
• Raytheon Technologies Corporation (US)
• L3Harris Technologies Inc. (US)
• Lockheed Martin Corporation (US)
• Thales Group (France)

To strengthen their position in this market, these companies have implemented a variety of growth strategies which include new product developments, contracts, collaborations, expansions, certifications, agreements, acquisitions, and R&D activities.

To know about the assumptions considered for the study download the pdf brochure

Northrop Grumman Corporation (US)

Northrop Grumman Corporation is a global aerospace and defense technology company headquartered in Falls Church, Virginia, United States. The company was formed in 1994 through the merger of Northrop Corporation and Grumman Corporation. Northrop Grumman provides innovative systems, products, and solutions in areas including autonomous systems, cyber, space, strike, and logistics and modernization.
The company operates in four main business sectors:

• Aerospace Systems: This sector develops and produces advanced aircraft, spacecraft, and related technologies.
• Innovation Systems: This sector is focused on space exploration and development, missile defense, and advanced systems for military and civilian customers.
• Mission Systems: This sector provides advanced sensors and processing systems, as well as secure communications and cybersecurity solutions.
• Technology Services: This sector provides logistics and modernization services, including maintenance and repair of military equipment and infrastructure, as well as technical and training services.

Northrop Grumman is committed to supporting its customers with cutting-edge technology and services. The company has a strong focus on research and development, and invests heavily in innovative solutions that help its customers to succeed in challenging environments.

Raytheon Technologies Corporation (US)

Raytheon Technologies Corporation is a leading aerospace and defense company headquartered in Waltham, Massachusetts, United States. The company was formed in 2020 through the merger of United Technologies Corporation and Raytheon Company. Raytheon Technologies provides advanced technologies and services in the areas of aerospace, defense, and cybersecurity.

The company operates in four main business segments:

• Collins Aerospace Systems: This segment provides advanced aerospace and defense technologies, including avionics, aircraft interiors, and communications systems.
• Pratt & Whitney: This segment is focused on aircraft engines and related technologies, including military and commercial engines, as well as space propulsion systems.
• Raytheon Intelligence & Space: This segment provides advanced technologies and services for intelligence, surveillance, and reconnaissance, as well as space exploration and defense.
• Raytheon Missiles & Defense: This segment is focused on missile systems and defense technologies, including air and missile defense systems, precision weapons, and radar systems.

Raytheon Technologies is committed to providing its customers with innovative solutions that help them to achieve their goals in challenging environments. The company invests heavily in research and development, and has a strong focus on technology and engineering expertise. Raytheon Technologies also values sustainability and corporate responsibility, and is committed to operating in an ethical and environmentally responsible manner.

L3Harris Technologies Inc. (US)

L3Harris Technologies, Inc. is a leading global aerospace and defense technology company headquartered in Melbourne, Florida, United States. The company was formed in 2019 through the merger of L3 Technologies and Harris Corporation. L3Harris provides advanced solutions and technologies in the areas of communication, intelligence, surveillance, and reconnaissance (CISR), electronic warfare, space and aviation systems, and maritime systems.

The company operates in four main business segments:

• Integrated Mission Systems: This segment provides advanced technologies and solutions for the ISR and electronic warfare markets, including intelligence gathering, cyber defense, and network and communications systems.
• Space and Airborne Systems: This segment is focused on advanced technologies and solutions for space and airborne systems, including satellites, airborne sensors, and mission systems.
• Communication Systems: This segment provides advanced communication solutions for military and commercial customers, including secure communications systems, broadband networking systems, and public safety communication systems.
• Aviation Systems: This segment is focused on advanced technologies and solutions for aviation systems, including avionics, flight control systems, and power systems.

L3Harris Technologies is committed to providing innovative solutions that help its customers to succeed in challenging environments. The company invests heavily in research and development, and has a strong focus on technology and engineering expertise.

Lockheed Martin Corporation (US)

Lockheed Martin Corporation is a leading global aerospace and defense technology company headquartered in Bethesda, Maryland, United States. The company was founded in 1995 through the merger of Lockheed Corporation and Martin Marietta Corporation. Lockheed Martin provides innovative technologies, products, and services in the areas of aerospace, defense, security, and advanced technologies.

The company operates in four main business segments:

• Aeronautics: This segment provides advanced military aircraft and related technologies, including fighter jets, transport aircraft, and unmanned aerial vehicles.
• Rotary and Mission Systems: This segment is focused on advanced technologies and solutions for military and civilian customers, including naval systems, helicopter systems, and missile defense systems.
• Space: This segment provides advanced technologies and solutions for space exploration and national security, including satellites, spacecraft, and related technologies.
• Missiles and Fire Control: This segment is focused on missile systems and defense technologies, including air and missile defense systems, precision weapons, and fire control systems.

Thales Group (France)

Thales Group is a global technology company with headquarters in Paris, France. The company operates in several industries including aerospace, defense, security, transportation, and digital identity and security. Thales Group has a presence in over 80 countries and employs around 80,000 people worldwide.

The company operates in five main business segments:

• Aerospace: This segment provides advanced technologies and solutions for the aerospace industry, including avionics, air traffic management, and in-flight entertainment.
• Transport: This segment provides technologies and solutions for the transportation industry, including rail signaling and control, fare collection systems, and road traffic management.
• Defense and Security: This segment provides advanced technologies and solutions for the defense and security industries, including communication systems, military vehicles, and cybersecurity solutions.
• Digital Identity and Security: This segment is focused on providing secure digital identity solutions, including biometrics, identity verification, and authentication technologies.
• Digital Solutions: This segment provides digital transformation services and solutions, including cloud computing, data analytics, and artificial intelligence.

Thales Group is committed to providing its customers with innovative solutions that help them to achieve their goals in a safe and secure manner. The company invests heavily in research and development, and has a strong focus on technology and engineering expertise.

Related Reports:

Military Electro-Optics/Infrared (EO/IR) Systems Market by Platform, Product Type, Component, Cooling Technology Sensor Technology, Imaging Technology (Hyperspectral, Multispectral), point of sale and Region - Global Forecast to 2028

Contact:
Mr. Aashish Mehra
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