The report finds that the market will be buoyed by the increasing demand for vetronics and the rise of InGaAs detector systems, Technavio said Sept. 3.
The market will also face major challenges from unmanned aerial systems issues, defense budget constraints in the U.S. and U.K., and regulations, according to the report.
Technavio noted a growing trend in long-wave IR system, low-light sensors, laser rangefinders and EO/laser guidance systems.
The report profiles the following market players:
- BAE Systems
- Elbit Systems
- General Dynamics
- L-3 Communications
- Lockheed Martin
- Northrop Grumman
- Rockwell Collins
- UTC Aerospace