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Technavio Sets Global Military EO, IR Systems Market CAGR at 6% for 2015-2019

Technavio Sets Global Military EO, IR Systems Market CAGR at 6% for 2015-2019 - top government contractors - best government contracting event

researchA new Technavio report predicts the global military electro-optical and infrared systems market will grow 6.07 percent year over year from 2015 through 2019.

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
  • Raytheon
  • Rockwell Collins
  • Thales
  • UTC Aerospace
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Written by Jay Clemens

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