The Global Military Electro Optical Infrared (EO/IR) Systems Market
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1 The Global Military Electro Optical Infrared (EO/IR) Systems Market
2 1 Executive Summary The global military EO/IR Systems market is expected to grow at a CAGR of XX% The global military EO/IR Systems market is expected to value US$XX billion by the end of 2014, which is estimated to increase to US$XX billion by 2024, representing a CAGR of XX% during the forecast period. The global market is expected to achieve a cumulative value of US$XX billion during the forecast period. Demand for such systems is anticipated to be driven by rapid technological advancements in the domain and the growing need of intelligence, surveillance and reconnaissance (ISR) capabilities in militaries globally. The military EO/IR Systems market is expected to be dominated by North America, followed by Europe and Asia- Pacific. Modern warfare places a greater emphasis on information superiority and situational awareness and this expected to be a major factor driving spending in this sector. This theory is further supported by the increasing investment of most major militaries across the world which focuses on acquiring EO/IR Systems for airborne, ground based and naval platforms. 11
3 2 Global Military Electro Optical Infrared (EO/IR) Systems Market Size and Drivers 2.1 Military Electro Optical Infrared (EO/IR) Systems Market Size and Forecast Global military electro optical infrared (EO/IR) systems market to show positive growth during the forecast period The global military EO/IR Systems market is estimated to value US$XX billion in 2014, and increase at a CAGR of XX% during the forecast period, to reach its peak of US$XX billion by The market consists of three categories: airborne, naval and ground based EO/IR Systems. The airborne segment is expected to account for XX% of the global EO/IR Systems market, followed by the naval segment with a share of XX%. Ground-based military EO/IR Systems are expected to account for the remaining XX% of the market. During the forecast period, the cumulative global expenditure on military EO/IR Systems is expected to reach US$XX billion. The chart below shows the expected military EO/IR Systems market value during : Figure 1: Global Military Electro Optical Infrared Systems Market (US$ Billion), US$ Billion Source: SDI analysis SDI 12
4 2.2 Global Military Electro Optical Infrared (EO/IR) Systems Market Regional Analysis North America to drive the demand for the military EO/IR Systems market over the forecast period North America is the frontrunner in global military expenditure, as well as technical development and utilization. The region generates the highest demand for the EO/IR Systems market across the world, due to the enormous consumption levels of the US military. Canada, the only other country in the region, lags much behind the US in consumption of military EO/IR Systems, making the region s market majorly dependent on the US. Complemented by Canada s military expenditure, the US military has been driving the North American region s military EO/IR Systems market, which is valued at US$XX billion, and accounts for XX% of the global military EO/IR Systems market. Over the forecast period, the North American market is projected to grow at a CAGR of XX%, from US$XX billion to reach US$XX billion by The Asia Pacific and European markets are estimated to witness cumulative investments of US$XX billion and US$XX billion respectively over the forecast period. Spending in the Middle East is expected to value US$XX million in 2014 which is expected to grow at a CAGR of XX% to reach US$XX million in Latin America and Africa are expected to register CAGRs of XX% and XX% respectively which is indicative of the rapidly growing rate of defense investments in these regions. Latin America and Africa cumulatively account for US$XX billion of global expenditure on EO/IR systems over the forecast period. The table below gives a brief overview of the global EO/IR Systems market: Table 1: Global Military Electro Optical Infrared (EO/IR) Systems Market Overview Region Market in 2014 Market in 2024 Total Market ( ) Annualized growth/decline ( ) North America US$XX billion US$XX billion US$XX billion XX% Asia-Pacific US$XX billion US$XX billion US$XX billion XX% Europe US$XX billion US$XX billion US$XX billion XX% Middle East US$XX million US$XX million US$XX billion XX% Latin America US$XX million US$XX million US$XX billion XX% Africa US$XX million US$XX million US$XX billion XX% Total military electro optical infrared (EO/IR) systems Market US$XX billion US$XX billion US$XX billion XX% Source: SDI analysis SDI 13
5 2.3 Military Electro Optical Infrared (EO/IR) Systems Sub Sector Market Size Composition Airborne and naval systems to constitute nearly XX% of the military electro optical infrared (EO/IR) systems market Demand for airborne EO/IR Systems is expected to increase with the greater implementation and deployment of Network Centric Warfare (NCW) principles, as these necessitate the use of sensors required for intelligence, surveillance and reconnaissance and observation platforms; as such it is expected to register strong growth over the forecast period. Airborne EO/IR Systems are expected to constitute XX% of the market, while naval EO/IR Systems are expected to account for XX% of the global market. The remaining XX% of the global EO/IR systems market is expected to comprise of land-based systems. The table below gives a brief overview of the global military EO/IR Systems market: Table 2: Global Military Electro Optical Infrared Systems Market Overview Particulars Market in 2014 Market in 2024 Total Market ( ) Annualized growth/decline( ) Airborne Military EO/IR Systems US$XX billion US$XX billion US$XX billion XX% Naval Military EO/IR Systems US$XX billion US$XX billion US$XX billion XX% Ground Military EO/IR Systems US$XX billion US$XX billion US$XX billion XX% Total Military Electro Optical Infrared (EO/IR) Systems Market US$XX billion US$XX billion US$XX billion XX% Source: SDI analysis SDI 14
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