According to a new market research report published by Credence Research “Infrared Search and Track (IRST) Systems Market (By Platform: Airborne, Naval, and Land; By End-user: Defense and Civil) – Growth, Future Prospects, and Competitive Landscape and Forecast 2017-2025”, the infrared search and track (IRST) systems market was valued at US$ 4.47 Bn in 2016 and is expected to grow at a CAGR of 5.1 % during the forecast period from 2017 to 2025.
The purpose of the report is to illustrate the state of the market of Infrared Search And Track (IRST) Systems, to present actual information about the volumes of production, exports, imports, consumption and the state of the market, the changes that took place in 2017, and also, to build a forecast for the growth of the industry in the medium term until 2026.
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In modern warfare, seeking and eliminating enemy before their physical sighting gives an additional edge to any side. Technologies such as RADAR and thermal imaging, among others are consistently upgraded to improve search and track activities. Infrared search and track (IRST) is one such technology used comprehensively in modern searching and tracking systems. The use of infrared capturing for passive awareness systems including searching, detection and locating has become a prime factor in advanced defense and surveillance systems. Consequently, this has boosted the need for infrared search and track (IRST) systems in the past few decades.
The proliferation of advanced technology is one of the key driving factors for the modern infrared search and tracking (IRST) systems market. Efficient and highly accurate sensors have improved the sensitivity of the infrared search and tracking (IRST) systems. Better resolution and ability to track objects in both horizontal and vertical angle has revamped the capabilities of infrared search and tracking (IRST) systems. Consequently, owing to the aforementioned merits, the adoption of infrared search and track (IRST) systems for defense and security applications have escalated significantly in the past few years. The market for infrared search and tracking systems is also expected to grow with the rising investments for defense and security. The governments across the globe are investing heavily for enhancing their defense capabilities. Incorporation of advanced technology in defense infrastructure is a growing trend closely observed by most the superpowers across the world such as the U.S., the U.K., Germany and others. Therefore, the infrared search and track (IRST) systems market is set to demonstrate a significant growth during the forecast period from 2017 to 2025.
Infrared search and track (IRST) systems market is highly competitive characterized by a number of multinational manufacturers. Manufacturers are engaged in upgrading the previously existing product in order to make infrared search and track (IRST) systems more accurate and reliable. Some of the leading manufacturers of infrared search and track (IRST) systems include Lockheed Martin Corporation, Thales Group, Safran S.A., Rheinmetall AG., Leonardo S.p.A., Northrop Grumman Corporation, HGH Systemes Infrarouges SAS, Rheinmetall AG., Aselsan A.S. and The Boeing Company.
Why was the report written?
This report is the result of an extensive survey drawn from Credence Research’s exclusive panel of leading global market industry executives; it provides data and analysis on buyer investment, acquisition, and developments within the global market research. It includes key topics such as global Infrared Search And Track (IRST) Systems buyer expenditure and procurement behaviors and strategies and recognizes the threats and possibilities within the industry, economic outlook trends, and business confidence within global industry executives. Most secondary research reports are based on general industry drivers and do not understand the industry executives’ attitude and changing behaviors, creating a gap in presenting the business outlook of the industry; in an effort to bridge this gap, Credence Research created this primary research-based report by gathering the opinions of multiple stakeholders in the value chain of the global industry.
What is the current market landscape and what is changing?
Executives from the global industry anticipate an increase in levels of consolidation, with 55% of respondents projecting an increase in merger and acquisition (M&A) activities in 2017.
The report on the market of Infrared Search And Track (IRST) Systems contains:
Analysis and forecast of Infrared Search And Track (IRST) Systems market dynamics;
Analysis of domestic production, market shares of the main market players;
Analysis of exports and imports;
Analysis of factors, leading the development of the Infrared Search And Track (IRST) Systems market;
Assessment and forecast of Infrared Search And Track (IRST) Systems market development;
Financial and business profiles of the leading companies in the Infrared Search And Track (IRST) Systems industry.
– Up to date working Infrared Search And Track (IRST) Systems data by major regions in the world, the forecast of planned capacity additions by 2026
– The annual breakdown of capital expenditure spending on proposed Infrared Search And Track (IRST) Systems for the period 2018 to 2026
– Planned Infrared Search And Track (IRST) Systems additions and capital expenditure spending by key countries and companies across the world
– Planned capital expenditure spending on new Infrared Search And Track (IRST) Systems projects by region, key countries, and companies
– Details of major planned Infrared Search And Track (IRST) Systems projects in the world up to 2026
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