The U.S. Electro-Optics Infrared (EO/IR) Systems market is a dynamic and rapidly evolving sector that plays a crucial role in various industries, including defense, aerospace, security, and surveillance. EO/IR systems are advanced technologies that combine electro-optics and infrared imaging capabilities to capture, detect, and analyze thermal radiation emitted by objects in the environment.
These systems are widely used for a range of applications, including target acquisition, tracking, imaging, and reconnaissance. In the defense sector, EO/IR systems are integrated into military platforms such as fighter jets, helicopters, unmanned aerial vehicles (UAVs), and ground-based vehicles to enhance situational awareness, target identification, and intelligence gathering capabilities.
Competitive Landscape:
Contract Bagged by Elbit Systems to Accelerate Market Potential
Elbit Systems Ltd., an Israel-based international defense electronics company announced that its subsidiary, Elbit Systems of America LLC received a contract by Raytheon Company, a manufacturer and leader in weapons and military electronics for the U.S. defense, to deliver the Two-Color Laser System (TCLS) for the Multi-Spectral Targeting System. The agreement between Elbit Systems of America LLC and Raytheon Company will promote the electro-optical/infrared (EO/IR) systems market revenue during the forecast owing to the Two-Color Laser System (TCLS) capabilities in airborne missions. For instance, TCLS is used in multiple military airborne platforms, including the next-generation targeting systems onboard unmanned aerial vehicles. Furthermore, President and CEO of Elbit Systems of America, Raanan Horowitz, said in a statement, “The Two-Color Laser System provides increased targeting accuracy and flexibility, minimizing the potential for collateral damage. These attributes are key to U.S. warfighters who depend on these systems for a successful mission.”
Browse Summary Of This Research Report:
https://www.fortunebusinessins....ights.com/u-s-electr
The Report Lists the Main Companies in the EOIR Systems Market:
Lockheed Martin Corporation
Raytheon Company
Leonardo S.p.A.
Elbit Systems Ltd.
L-3Harris Technologies Inc.
BAE Systems PLC.
Thales Group
Northrop Grumman Corporation
General Dynamics
UTC Aerospace
Rheinmetall AG
Regional Analysis:
Rising Emphasis on Border Security to Propel Market in Asia Pacific
The market in North America stood at USD 6.21 billion and is expected to grow rapidly in the forthcoming years owing to the presence of major players in the region. Asia Pacific is predicted to witness a high growth rate in the forthcoming years due to the rising military expenditure. The increasing border security will subsequently foster the growth of the market in the region. The increasing technological advancement in military electronics will facilitate growth in the region. The rising development and production of high-class military aircrafts and UAVs for military operations will favor healthy growth in Asia Pacific. The growing deals and agreements among players will consequently bode well for the market in Asia Pacific. For instance, Elbit Systems Ltd. announced that it was granteda deal of approximately $670 million contract to supply defense solutions to a country in Asia-Pacific. The contract will be performed over a 25-month period.
