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Study: Demand for Military Electro-Optical IR Tech to Increase Over Next Decade

Study: Demand for Military Electro-Optical IR Tech to Increase Over Next Decade - top government contractors - best government contracting event

Navy radarAn ASDReports.com report estimates the market value for military electro-optical and infrared systems stands at about $8.38 billion and would continue to grow for the next 10 years.

The business intelligence firm said Monday the sector could enjoy steady growth through 2024 due to the growing military applications of EO/IR technology.

Adoption of smaller and lighter payloads as well as digital integrated platforms is also projected to fuel demand for military EO/IR products, the report states.

EO/IR systems are built to deliver visual feedback to military users and designed to integrate with ground, naval and airborne platforms, according to ASDReports.

The market analysis report also profiles several EO/IR manufacturers, including Airbus Group, BAE Systems, General Dynamics, L-3 Communications and Raytheon.

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Written by Mary-Louise Hoffman

is a writer of news summaries about executive-level business activity in the government contracting sector. Her reports for ExecutiveBiz are focused on trends and events that drive the GovCon industry to include commercial technologies that private companies are developing for federal government use. She contributes news content to ExecutiveBiz’s sister sites GovCon Wire and ExecutiveGov.

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