Press release
The Infrared Solutions Market To Undergo An Enigmatic Growth Between 2017-2025
Infrared solutions are widely preferred in defence and security applications due to their exceptional battlefield capabilities like target acquisition, accurate deployment of the troops, surveillance, etc. Infrared is an electromagnetic energy which has wavelength longer than the wavelength of colour red. Its unique features like wide vision field, identification of movement in dim light and rapid processing are projected to propel the demand for infrared solutions across the globe during the forecast period. Due to these features, infrared solutions are widely preferred in unmanned military vehicles, helicopters, naval vessels, armoured vehicles, etc.
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Infrared Solutions Market: Dynamics
One of the major factors driving the growth of the global Infrared solutions market is the increasing use of these solutions for surveillance operations. Close in weapon systems (CIWS) in naval platforms widely prefer these solutions for target engagement and acquisition.
Moreover, additional concerns of governments across the globe regarding combating terrorism is further expected to propel the growth of the global Infrared solutions market. Additionally, increasing demand for infrared solutions in unmanned aerial vehicles (UAVs) and commercial vehicles is further anticipated to escalate the demand for infrared solutions during the forecast period.
Infrared Solutions Market: Segmentation
Global Infrared solutions market can be segmented on the basis of component, platform, technology, system, wavelength, and regions. On the basis of component, the market can be segmented into infrared sensors, infrared detector and infrared lens systems. On the basis of platform, the global Infrared solutions market can be segmented into airborne, naval and space.
On the basis of technology, the Infrared solutions market can be segmented into hyper spectral, multi spectral, scanning and starring. On the basis of system, the global Infrared solutions market can be segmented into non imaging and imaging. On the basis of wavelength, the market can be segmented into small wavelength infrared (SWIR), medium wavelength infrared (MWIR) and large wavelength infrared (LWIR).
On the basis of regions, the global Infrared solutions market can be segmented into North America, Asia Pacific excluding Japan, Latin America, Eastern Europe, Western Europe, Japan and Middle East & Africa.
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Infrared Solutions Market: Regional Outlook
Based on regions, North America is expected to be the most prominent revenue generating region for infrared solutions market. However, owing to the cut in its defence budget, North America is expected to witness sluggish growth during the forecast period. Asia Pacific, led by China and India, is projected to be the fastest growing market which can be attributed to the increase in spending on defence in this region. Europe is expected to witness significant growth during the forecast period.
Infrared Solutions Market: Key Players
Some of the market participants identified across the globe in the infrared solutions market are as follows:
• Raytheon Company
• Lockheed Martin Corporation
• Rafael Advanced Defense Systems Ltd.
• L-3 Communications Holdings, Inc.
• BAE Systems Plc.
• Northrop Grumman
• Thales Group
• Rockwell Collins
• Elbit Systems Ltd.
• DRS Technologies
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