The latest report on “Infrared Search and Track (IRST) Systems Market (Component – Scanning Head, Processing & Control Electronics, and Display; Platform – Naval, Airborne, Land, and Other Platforms; End User – Aerospace and Defense, and Homeland Security): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025.” The global infrared search and track systems market is projected to grow at a CAGR of 5.9% over the forecast period of 2019-2025.
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Infrared search and track systems are used to detect and track objects that give out infrared radiation. The growing use of IRST technology in jet planes and aircraft stimulates the growth of the IRST market. IRST technology enhances situational awareness and security over the radar. The key players operating in the global infrared search and track systems market are adopting strategies such as mergers, acquisitions, and collaborations that promote their market share.
Increasing Defense Budgets Globally Contribute to the Growth of the Infrared Search and Track Systems Market
The enhanced security and immunity over radars drive the growth of the infrared search and track systems market. The increasing defense budgets globally contribute to the growth of the infrared search and track systems market. Factors such as better resolution and object tracking ability in both horizontal and vertical angles promote the growth of infrared search and track systems market. The rising investments in defense and security boost the growth of the infrared search and track systems market. The growing adoption of advanced technology for defense infrastructure promotes the growth of the infrared search and track systems market.
In addition, increasing the use of IRST technology in the aerospace industry for outer orbital mechanized rovers stimulates the growth of infrared search and track systems market. On the other side, the high manufacturing and designing cost of this technology hinders the growth of the infrared search and track systems market. Moreover, research and development propel innovations that create numerous opportunities for the growth of infrared search and track systems market.
Europe is Expected to Have a Premium Share in the Global Infrared Search and Track Systems Market
Based on geography, the global infrared search and track systems market is classified into North America, Asia-Pacific, Europe, and the Rest of the World. Europe is expected to have a premium share in the global infrared search and track systems market. The rising research and development investments and growing demand for situational awareness in Europe stimulate the growth of infrared search and track systems market in Europe. North America is anticipated to grow in the global infrared search and track systems market with a significant CAGR over the forecast period. Asia-Pacific region is showing growth in the global infrared search and track systems market.
The report on the global infrared search and track systems market covers segments such as component, platform, and end-user. On the basis of component, the sub-markets include scanning head, processing & control electronics, and display. On the basis of the platform, the sub-markets include naval, airborne, land, and other platforms. On the basis of end-user, the sub-markets include aerospace and defense, and homeland security.
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The report provides profiles of the companies in the market such as Safran S.A., Lockheed Martin Corporation, Thales Group, Northrop Grumman Corporation, HGH Systemes Infrarouges SAS, Tonbo Imaging Private Limited, Hughes Network Systems LLC, Leonardo S.p.A., Rheinmetall AG, ASELSAN A.S., and other companies.
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=> Comprehensive analysis of global as well as regional markets of the infrared search and track systems.
=> Complete coverage of all the product type and application segments to analyze the trends, developments, and forecast of market size up to 2025.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.