Sea-Based Military Electro-Optical and Infrared Systems Market is anticipated to grow at a CAGR of 3.4% during the forecast period. The rise in global maritime disputes and threats to navy vessels prompts countries to invest in modern Electro-optical and Infrared (EO/IR) equipment for electrical applications such as threat detection, surveillance, and target identification.
The essential element of Sea-Based military operations is electro-optical and infrared equipment. These systems are made up of several different technologies focused on mission requirements and target acquisitions. Electro-optical and infrared systems are used in several military systems, including land, air, and naval. Observing systems, visuals, night vision systems, and helmet-mounted displays are all examples of airborne electro-optical and infrared systems. Land-based electro-optical and infrared systems include Weapon-mounted sights, Night vision goggles, Vehicle-mounted optronics devices, Laser range finders, Thermal imagers,Identifiers. Marine electro-optical and infrared systems include Infrared imaging and detectors, Thermal imaging systems, Monitoring and tracking systems, Mobile optronics systems.
These systems improve visibility, targeting, and tracking of adversary locations on the battlefield.
Market Drivers:
The global sea-based military electro-optical and infrared systems market is expected to rise significantly over the forecast period, mainly due to significant changes in the manufacturing of subcomponents and components in these systems. As warfare and battlefield operations have changed, there has been a growing demand to modernize conventional military equipment into highly advanced systems. Modernization is essential to keep up with technological advancements in combat. As a result, demand for long-range EO/IR sensor systems for surveillance is expected to increase. Advances in sensor technology have reinforced the capabilities of multi-sensor electro-optical targeting pods, driving the global sea-based military electro-optical and infrared systems industry.
Market Restraints:
The EO/IR system is highly recommended for military applications due to advanced features such as high operating efficiency, high integration, and adaptability to operate under multiple unmanned aerial system platforms for night light target recognition and target tracking. However, design complexity and fundamental ideas limit the EO/IR system's long-range photography, camera size, and performance. These design and development constraints in the military micro lightweight electro-optics infrared system are expected to impede market expansion.
Market Segmentation:
Sea-Based Military Electro-Optical and Infrared Systems Market By Platform:
The naval fleet segment is anticipated to increase at the highest CAGR during the forecast period. The market for Military Sea-based Electro-Optical and Infrared Systems is being driven by major countries such as the United States, Russia, and China investing in expanding their current naval fleets. By 2030, the United States, for example, will have spent more than USD 100 billion to expand its existing fleet from 295 to 350 ships. Russia is also growing its naval fleet, with plans to add two new Admiral Gorshkov class frigates to the navy by the end of 2020 for Baltic Sea operations and 13 more frigates in the ensuing years. By 2025-2026, the United Kingdom plans to introduce Type 26 frigates. By 2030, the frigates will replace Type 45 destroyers and undergo significant air defense modifications. The procurement of these navy vessels is likely to increase demand for EO/IR systems onboard, propelling the market forward over the forecast period.
Sea-Based Military Electro-Optical and Infrared Systems Market By Technology:
The starring sensors segment is estimated to hold the highest market share in 2019, and it's to be the fastest-growing over the forecast period. The market for sea-based military electro-optical and infrared systems has exploded as a result of the rising demand for quick target detection solutions for surveillance and military combat mission applications is attributed to this growth. The scanning technology-based EO/IR system takes longer to project an image of a target than the gazing sensor technology-based EO/IR system.
Regional Analysis
Asia-Pacific region is expected to be the fastest-growing in the sea-based military electro-optical infrared systems market during the forecast period. China, for example, has shifted its priority to the upgrading of its naval forces, with large investments in the EO/IR business. China is actively integrating radars, electro-optical sites, and other anti-ship missile systems into its Over-the-horizon Surface Wave (OTH-SW) systems. The combined system provides military ships and submarines with accurate targeting information. In 2018, India's defense minister sanctioned the naval vessel purchase program of about USD 1.8 Billion to procure next-generation missile warships. In the Asia-Pacific region, such advances in the naval industry and ongoing navy vessel purchase and modernization initiatives are likely to support market expansion for sea-based military electro-optical and infrared systems.
The North America region held the largest share in the sea-based military electro-optical and infrared market in 2020 due to increased demand for EO/IR systems from US military forces. The US had to expand its investment in technologically better military systems due to the improved capabilities of its adversaries on the battlefield. Moreover, the US military's increasing involvement in many worldwide conflicts has boosted the procurement of modern ISR equipment and other systems that improve the military's situational awareness. The base budget for FY 2021 includes around USD 125 billion for improving the mission capability of the country's multiple armed forces. Several EO/IR technology providers benefit from the country's focus on attaining superior ISR capabilities. The sea-based military electro-optical and infrared systems market in the region is expected to increase due to similar orders for new electro-optical sensors and updating various military systems with current EO/IR sensors over the forecast period.
Recent Developments:
In March 2021, Safran Electronics & Defense inked a contract with Dassault Aviation to supply two Falcon-based aircraft with new generation Euroflir TM410 optronic (electro-optical) systems: The French military is modernizing its maritime surveillance and intervention aircraft as part of this initiative. A dozen Albatross derived from the Falcon 2000LXS, and eight Falcon 50M Triton versions were modernized. Due to the new Euroflir 410 optronic technology, France's Maritime Surveillance & Intervention Patrol (PATSIMAR) may now expand its clandestine very-high-altitude observation capabilities and carry out at-sea search and rescue or zone surveillance missions even in the most difficult scenarios. According to the French government's latest defensive system planning bill, the Triton modified Falcon 50M and Falcon 2000 Albatross aircraft will be deployed from 2023 and 2025, respectively.
Rafael Advanced Defense Systems of Israel stated in May 2020 that its Listening-5 and RecceLite podded capabilities would be used to outfit the Leonardo M-346FA light attack aircraft with fifth-generation podded electro-optical/infrared (EO/IR) systems. In addition, the aircraft is equipped with Leonardo Grifo-346 multi-mode radar, and targeting and reconnaissance pods will be added to improve the aircraft's operational capabilities.
Market Key players:
Impact of Covid-19 on Sea-Based Military Electro-Optical and Infrared Systems Market:
The outbreak of the COVID-19 pandemic had a significant influence on the worldwide economy. In contrast, defense spending is predicted to rise in 2020 compared to 2019. However, it is expected that the economic downturn will immediately impact defense spending allocation. As governments realign their priorities, defense budget cuts are almost certain to occur, hurting long-term purchase plans. In addition, the breakout of COVID-19 and the resulting shutdowns have harmed the defense industrial sector in many countries. The effects of the pandemic can be evident in global defense supply chains, as varied projects rely on a unique global network of part suppliers.
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