Infrared Search & Track (IRST) System Market Forecasts to 2028 – Global Analysis By Type (Military Grade IRST, Civil Grade IRST), End User (Homeland Security, Law Enforcement, Aerospace and Defense), and By Geography
According to Stratistics MRC, the Global Infrared Search & Track (IRST) System Market is accounted for $5.62 billion in 2020 and is expected to reach $10.32 billion by 2028 growing at a CAGR of 7.9% during the forecast period. Some of the key factors propelling the market growth include rise in the enhanced security and immunity over radars, increase in the research and development activities, increase in the need to upgrade situational awareness systems, and increase in the defense expenditures. However, limited operational range of IRST system is hampering the market growth.
An infrared search and track system is used to detect the vehicles and devices that give out infrared radiation. It is extensively utilized in the military and defense division for surveillance and security purposes. IRST technology also ensures enhanced sensor scales for next-generation fighter aircraft, notably when it comes to spotting stealth aircraft without radar. Moreover, one could observe infrared search & track (IRST) system applications and patterns on the snout of many modern fighter jets like the Eurofighter Typhoon.
By platform, the airborne segment is expected to grow at a significant rate during the forecast period, due to the growing focus on enhanced situational awareness and immunity over radar, use of enhanced passive systems to search and detect in airborne platforms, growing use of stealth technology by enemy aircraft, and increased innovation of defense aircraft.
On the basis of geography, Europe region is expected to have considerable growth during the forecast period, owing to increase in the need to upgrade situational awareness systems, the defense aircraft modernization programs, growing adoption of advanced systems by the military organization in Europe for performing intelligence, surveillance, and reconnaissance missions, and increase in the defense expenditures.
Some of the key players in Infrared Search & Track (IRST) System Market include Lockheed Martin Corporation, Aselsan A.S., Thales Group, Hughes Network Systems LLC., HGH Systmes Infrarouges SAS, Raytheon Company, Leonardo S.p.A, TTP plc., Safran S.A., Tonbo Imaging Private Limited, Northrop Grumman Corporation, and Rheinmetall AG.
Estimated Market Size in 2020:
USD 5.62 billion
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 10.32 billion
Tables, Graphs & Figures
Platform, Component, Type, Sales Channel, and End User.
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
• Processing & Control Electronics
• Scanning Head
• Display Unit
• Military Grade IRST
• Civil Grade IRST
Sales Channels Covered:
• Direct Sales
End Users Covered:
• Homeland Security
• Law Enforcement
• Aerospace and Defense
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis, etc.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Infrared Search & Track (IRST) System Market is majorly driven by the increase in the defense expenditures, rise in the enhanced security and immunity over radars, increase in the focus on military modernization, and rise in the research and development activities.
The aerospace and defense segment is growing at a highest CAGR owing to growing number of aircraft modernization programs, rising use of passive situational awareness system for search and tracking enemy by defense forces, and increasing procurement of military equipment.
Europe dominated with a significant market share due to the increase in the defense expenditures, rise in the need to upgrade situational awareness systems, and increase in the need for enhanced situational awareness in this region.
Asia Pacific market is growing at a highest CAGR owing to growing defense expenditure and rising terrorist activities in countries such as India, China, Indonesia, and Australia.
Key players in Infrared Search & Track (IRST) System Market include Lockheed Martin Corporation, Aselsan A.S., Thales Group, Hughes Network Systems LLC., HGH Systmes Infrarouges SAS, Raytheon Company, Leonardo S.p.A, TTP plc., Safran S.A., Tonbo Imaging Private Limited, Northrop Grumman Corporation, and Rheinmetall AG.
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