Research and Markets: Military Electro-Optical/Infrared Systems Market Worth $16B by 2020

A new Research and Markets report forecasts that the market for military electro-optical and infrared systems will climb in value at a 7.71 percent compound annual growth rate to reach $16.35 billion revenues by 2020.

The company said Thursday that strategies to establish uncontested market space and increased military spending will drive fast-paced growth for the EO/IR market, particularly in the Asia-Pacific region.

The report identified Brazil, China, India, Russia and Saudi Arabia as key markets with growing demand for EO/IR systems that use laser, fiber-optic, infrared imaging and sensor technologies.

The following companies are included in the report:

• Airbus
• BAE Systems
• DRS Technologies
• Elbit Systems
• Harris
• II-VI
• L-3 Communications
• Leidos
• Lockheed Martin
• Rafael Advanced Defense Systems
• Raytheon
• Rheinmetall
• Rockwell Collins
• Saab
• Textron
• Thales
• Ultra Electronics
• United Technologies Corp.