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.
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Market Insights
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.
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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.
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Competitive Insights:
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.
Key Trends:
– Constant up-gradation of infrared search and track (IRST) systems for highly accurate, fast and reliable searching and tracking
– Growing investments by the government for national defense and security
– Acquisition of government contracts for installation of infrared search and track (IRST) systems
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