The U.S. electro-optics infrared systems market size is expected to showcase considerable growth by reaching USD 7.40 billion by 2027 while exhibiting a CAGR of 6.19% between 2020 and 2027. The growth is attributable to the increasing demand for technologically advanced UAVs and the growing focus on upgrading military might by the U.S. that will drive the adoption of advanced electro-optics infrared systems. Fortune Business Insights, published this information, in its latest report, titled, “The U.S. Electro-Optics Infrared Systems Market Size, Share & COVID-19 Impact Analysis, By System (Imaging EO/IR and Non-Imaging EO/IR System), By Technology (Cooled and Uncooled), By Sensor Technology (Staring and Scanning Sensor), Imaging Technology (Multispectral and Hyperspectral), By Wavelength (Ultraviolet, Visible, Near Infrared, SWIR, MWIR, and LWIR), By Platform (Airborne, Land, and Marine/Naval), By Laser Range Finder (Airborne, Land, and Marine), By End User (Commercial and Military), and Country Forecasts, 2020-2027.” The report further mentions that the market stood at USD 5.55 billion in 2019.
DRIVING FACTORS
Increasing Adoption of Technologically Advanced UAVs to Propel Market Growth
The total U.S. military spending is estimated to be around USD 934 in 2020-21. The increasing focus on upgrading the military is expected to propel the manufacturers to develop advanced electro-optics infrared systems to cater to the defense applications in the region. Additionally, the deployment of advanced UAVs for surveillance purposes is expected to bode well for the U.S. electro-optics infrared systems during the forecast period.
Browse Summary
https://www.fortunebusinessinsights.com/u-s-electro-optics-infrared-systems-market-104533
List of the Companies Operating in the Market for the U.S. Electro-Optics Infrared Systems
- Arete (The U.S.)
- BAE Systems (The U.K.)
- Elbit Systems Ltd. (Israel)
- General Dynamics Corporation (The U.S.)
- Lockheed Martin Corporation (The U.S.)
