Machines & Equipment / Infrared Search And Track (IRST) System Market - Global Growth, Trends And Forecast (2022 - 2027) By Types, By Application, By Regions And By Key Players: Leonardo, Lockheed Martin Corporation (NYSE: LMT), Northrop Grumman Corporation (NYSE: NOC)
Infrared Search and Track (IRST) system Market - Global Growth, Trends and Forecast (2022 - 2027) By Types, By Application, By Regions and By Key Players: Leonardo, Lockheed Martin Corporation (NYSE: LMT), Northrop Grumman Corporation (NYSE: NOC)
Over the next five years the Infrared Search and Track (IRST) systemmarket will register an 5.6% CAGR in terms of revenue, the global market size will reach USD 1.52 billion by 2027.
Infrared Search and Track (IRST) system Market Overview
The market for infrared search and track (IRST) systems is anticipated to reach USD 7.03 billion between 2022 and 2027, with a CAGR of 5.6%.
Beyond our expectations, technology has advanced significantly. The pursuit of new technological advancements and their application in various industries continues, and the rate of technological advancement is accelerating daily. One of the cutting-edge solutions used globally in a variety of fields is the IRST system. It is a technique for finding and following infrared-emitting objects.
The growth of this cutting-edge technology is accelerating the market for infrared search and track (IRST) systems. The IRST system is used to identify electromagnetic radiation emitters. Jet planes, UAVs, helicopters, and space-based objects can all be found with this technique. Infrared Search & Track (IRST) System Market growth is primarily driven by military activities and missions. Military groups utilise IRST systems because they can quickly identify any electromagnetic radiation coming from the opposition. The increase in terrorist incidents around the globe is enabling the global Infrared Search & Track (IRST) System Market to expand.
These cutting-edge devices can identify any object emitting radiation from the terrorist side, assisting the military in averting strikes. The market is expanding as a result of investments made in defence activities around the world to protect the people. Even more so, the demand for IRST systems is increasing in tandem with the rise in demand for aircraft, jets, private helicopters, and aircraft.
The IRST systems are adopted by various industrialised and emerging nations, particularly in the military and defence industries. To meet market demand, the leading players are actively involved in upgrading the IRST systems' features. The development of more complex IRST solutions is necessary to identify suspicious activities and objects in light of the more sophisticated terrorist strikes. The players are advancing the features of their services to suit demand. The Infrared Search & Track (IRST) System Market Growth is being accelerated by the key market growth factors, such as the increased demand for enhanced security and immunity systems over radars.
The IRST systems have been shown to provide a number of benefits in the military and defence industries. As a result, the government is actively encouraging the creation of IRST solutions. The market for infrared search and track (IRST) systems is anticipated to grow at a CAGR of 5.6% over the forecast period to reach a value of USD 7.03 billion.
Who are the Major Players in Infrared Search and Track (IRST) system Market?
The Infrared Search and Track (IRST) system Market is growing at a very fast pace and has seen the focus of many local and regional vendors offering precise application products for multiple end users. The three dependencies for the status of major companies in the market are: company profile, profitable gross margin, the prices they charge. These are the main players in this market Aselsan, HGH Systèmes Infrarouges, Leonardo, Lockheed Martin Corporation, Northrop Grumman Corporation, Rheinmetall, Safran, Thales Group, Tonbo Imaging Private Limited and others.
Industry News:
01 September 2021: Leonardo’s new threat warning system for aircraft goes into series production
The MAIR (Multi Aperture InfraRed) system will be baseline on the AW169M multirole helicopter, starting with the Italian Army’s LUH (Light Utility Helicopter) programme
The system draws on Leonardo’s combat InfraRed Search and Track (IRST) heritage and on proprietary algorithms to deliver early detection of threats while ignoring clutter such as sun glints
MAIR is suitable for fixed and rotary wing aircraft, manned and unmanned. It is a form-fit replacement for many of the legacy systems currently in operation
Infrared Search and Track (IRST) system Market provides details by vendors, including company total revenue (financials), company overview, market potential, global presence, his business report briefly talks about market performance of each business sector covering growth factors and sales volume. this analysis provides the This Infrared Search and Track (IRST) system Market analysis report provides recent trends, granular level data covering market size and share. It provides all the recent updates about CORONA virus and its impact on world economy and human health. By getting this data, key players can obtain profit making and right business opportunities for future growth. Its further guides to increase the product demand and business expansion.
What are the major Applications, Types and Regions for Infrared Search and Track (IRST) system Market?
By Type, it is segmented into
Civil Grade
Military Grade
By Applications it is segmented into
Airborne
Naval
Land
Others
Infrared Search and Track (IRST) system Market Regional Analysis
Due to the increased use of cutting-edge systems in the military sector, demand for the IRST system is expected to expand significantly in the European region. Due to rising defence spending and an increase in terrorist attacks in countries like India, China, Indonesia, and Australia, the Asia Pacific is even predicted to experience a high CAGR during the evaluation period. These factors are what are primarily driving the market for infrared search & track (IRST) systems. The market is being helped by a surge in defence spending in the Middle East and Africa. The Infrared Search & Track (IRST) System Market in the Latin American area is being driven by the rise in the need for UAVs for intelligence collection against drug trafficking and rebel organisations.
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Rest of the World
Middle East & Africa
Latin America
The Infrared Search and Track (IRST) system Market describes the factors driving the global growth opportunities in upcoming years and highlights market channels. In addition, the report analyzes market size and share, trends, by geographic region, end-use type and segment. It focuses extensively on revealing a detailed regional analysis. The Global Infrared Search and Track (IRST) system Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.
What is our Infrared Search and Track (IRST) system Market report scope?
Report Attributes
Report Details
Forecast Period 2022 to 2027 CAGR
CAGR of 5.6% during the review period (2022 to 2027).
Yes, the report can be customized as per your needs
Key Takeaways from this Infrared Search and Track (IRST) system Report
Evaluate Infrared Search and Track (IRST) system market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, end use applications and by different industry verticals.
Understand the different dynamics influencing the market - growth driving factors, specific challenges and hidden opportunities.
Get in-depth insights on your competitor performance – revenue, shares, business strategies, financial benchmarking, product benchmarking, SWOT analysis and more.
Analyze the sales and distribution channels across geographies to enhance top-line revenues.
Understand the demanding supply chain with a deep dive on the value augmentation at each, in order to optimize value and bring efficiencies in your processes.
Get a quick outlook on the Infrared Search and Track (IRST) system market entropy - M&A's, deals, partnerships, product launches of all key players for the past 4 years.
Evaluate the import-export statistics, supply-demand and competitive landscape for more than top 20 countries globally for the market.
All our reports are custom made to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report as your needs.
Frequently Asked Questions
What is the study period of this market?
The Infrared Search and Track (IRST) system Market is studied from 2017 - 2027.
What is the growth rate of Infrared Search and Track (IRST) system Market?
The Infrared Search and Track (IRST) system Market is growing at a CAGR of 5.6% over the next 5 years.
Who are the key players in Infrared Search and Track (IRST) system Market?
SECONDARY RESEARCH Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
