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Infrared Search and Track (IRST) System Market by End-user and Geography - Forecast and Analysis 2022-2026

  • Published: Jun 2022
  • Pages: 130
  • SKU: IRTNTR73689
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The infrared search and track (IRST) system market share is expected to increase to USD 879.44 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 3.15%.

This IRST system market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers infrared search and track system market segmentation by end-user (aerospace and defense and civil) and geography (North America, Europe, APAC, South America, and Middle East and Africa). The infrared search and track (IRST) system market report also offers information on several market vendors, including ASELSAN AS, Excelitas Technologies Corp., HGH Systemes Infrarouges SAS, Leonardo Spa, Lockheed Martin Corp., Northrop Grumman Corp., Raytheon Technologies Corp., Rheinmetall AG, Safran SA, Thales Group, and Tonbo Imaging India Pvt Ltd. among others.

What will the Infrared Search and Track (IRST) System Market Size be During the Forecast Period?

Infrared Search and Track (IRST) System Market Size

Download the Free Report Sample to Unlock the Infrared Search and Track (IRST) System Market Size for the Forecast Period and Other Important Statistics

 

Infrared Search and Track (IRST) System Market: Key Drivers, Trends, and Challenges

The development of new-generation air and missile defense systems is notably driving the infrared search and track (IRST) system market growth, although factors such as high R&D costs and successive project cancellations may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the infrared search and track (IRST) system industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Infrared Search and Track (IRST) System Market Driver

One of the key factors driving the global infrared search and track industry growth is the development of new-generation air and missile defense systems. A few of these new developments include high-speed cruise missiles and nuclear-capable ballistic missiles. Various countries are developing advanced weapons that can defeat high-end air defense systems, including:

  • The Patriot Advanced Capability-3 (PAC-3)
  • Medium Extended Air Defense System (MEADS)

The S-400. Countries such as China, India, and Russia have developed hypersonic missiles that are difficult to intercept for missile shields. Such developments have led to the requirement for new-generation high-speed air defense electronic warfare systems, which will augment the application of infrared search and track IRST systems during the forecast period. For instance, in August 2021, US Air Force (USAF) Boeing F-15C Eagle downed a QF-16 target drone using a Raytheon AIM-120 Advanced Medium-Range Air-to-Air Missile (AMRAAM) guided by an IRST system. 

Key Infrared Search and Track (IRST) System Market Trend

Growing preference for infrared search and track IRST systems over radar is one of the key IRST market trends that is expected to impact the industry positively in the forecast period. The infrared search and track IRST systems are gaining prominence in air defense applications due to increased reluctance to use radar sensors owing to the threat of anti-radiation missiles and a dramatic increase in IR sensor performance. For instance;

  • In April 2022, Hindustan Aeronautics Limited (HAL) and Bharat Electronics Limited (BEL) signed a contract for the joint development and production of a new infrared search and track system. The company informed that the development of the system will be under the MAKE-II procedure of Defence Acquisition Procedure (DAP) 2020.
  • In April 2022, The Defence Research and Development Organisation (DRDO)'s Instruments Research and Development Establishment (IRDE) completed the design work on the Infrared Search and Track System (IRST) for the Tejas Mark-II program. 

Key Infrared Search and Track (IRST) System Market Challenge

One of the key challenges to the global infrared search and track market growth is the high R&D costs and successive project cancellations. The development of a new design for a missile may cost billions of dollars, which has resulted in favoring the adaptation of existing defense technologies in a budget-constrained, suboptimal manner, usually by sacrificing both performance and reliability. The cost of defense equipment can be segmented into associative development costs and production costs. An increase in either of the segments can contribute to an unforeseen escalation in costs and elongation of the delivery period. In addition, to deliver the best results, R&D activities are carried out for an extended period and include several hours of rigorous testing and documentation before commercially releasing a new variant of an armored vehicle. Hence, the cost of new technology, especially new concepts, is expected to be as high and economically unfeasible and ineffective unless mass adoption of such technologies, which may hinder the market growth.

This infrared search and track (IRST) system market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global infrared search and tracks system market as a part of the global electronic components market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the infrared search and track (IRST) system market during the forecast period.

Who are the Major Infrared Search and Track (IRST) System Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • ASELSAN AS
  • Excelitas Technologies Corp.
  • HGH Systemes Infrarouges SAS
  • Leonardo Spa
  • Lockheed Martin Corp.
  • Northrop Grumman Corp.
  • Raytheon Technologies Corp.
  • Rheinmetall AG
  • Safran SA
  • Thales Group
  • Tonbo Imaging India Pvt Ltd.

 

This statistical study of the infrared search and track (IRST) system market encompasses successful business strategies deployed by the key vendors. The infrared search and track (IRST) system market is fragmented and the vendors are deploying growth strategies such as technological innovation to compete in the market.

Product Insights and News

  • ASELSAN AS - The company offers an infrared search and track IRST system that is designed for maritime platforms in order to passively detect and track multiple air and surface vehicles and missiles with its staring sensors.
  • HGH Systemes Infrarouges SAS - The company offers an infrared search and track IRST system that is required by worldwide navies where the technology is based on the SPYNEL wide-area surveillance technology that acts as a passive early warning system embedded on ships for 360-degree protection against asymmetrical threats.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The infrared search and track (IRST) system market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Infrared Search and Track (IRST) System Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the infrared search and track (IRST) system market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Infrared Search and Track (IRST) System Market?

Infrared Search and Track (IRST) System Market Market segmentation by region

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38% of the market's growth will originate from North America during the forecast period. The US is the key market for infrared search and track (IRST) systems in North America. Market growth in this region will be faster than the growth of the market in other regions.

The significant increase in R&D spending in countries such as the US will facilitate the infrared search and track (IRST) system market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, despite the challenges faced by several industries in the wake of the COVID-19 pandemic, the market for aerospace and defense remained resilient in the region, owing to continued developments across the aerospace and defense sector, which resulted in the deployment of infrared search and track IRST systems in the region in 2020. Such initiatives by the US government are expected to drive the growth of the market in focus in the region during the forecast period.

What are the Revenue-generating End-user Segments in the Infrared Search and Track (IRST) System Market?

Infrared Search and Track (IRST) System Market Segmentation

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The infrared search and track (IRST) system market share growth by the aerospace and defense segment will be significant during the forecast period. Aerospace and defense comprise two major components, namely mobile devices in the air and composite installations on the ground. Composite installations that are on the ground are part of battle emergency management control systems (BEMCS) that detect any intruders into the airspace or threat remotely. Infrared search and track IRST systems are being adopted by the aerospace and defense organization. For instance, in late 2019, Boeing Co. and the US Navy flew a F/A-18 Super Hornet equipped with an IRST Block II pod, which is a critical component of the Block III Super Hornet. Thus, the increase in the adoption of the infrared search and track IRST systems will propel the market in focus in the forecast years.

This report provides an accurate prediction of the contribution of all the segments to the growth of the infrared search and track (IRST) system market size and actionable market insights on post COVID-19 impact on each segment.

 

Infrared Search and Track (IRST) System Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 3.15%

Market growth 2022-2026

$ 879.44 million

Market structure

Fragmented

YoY growth (%)

2.33

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 38%

Key consumer countries

US, China, France, Germany, and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

ASELSAN AS, Excelitas Technologies Corp., HGH Systemes Infrarouges SAS, Leonardo Spa, Lockheed Martin Corp., Northrop Grumman Corp., Raytheon Technologies Corp., Rheinmetall AG, Safran SA, Thales Group, and Tonbo Imaging India Pvt Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Infrared Search and Track (IRST) System Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive infrared search and track system market growth during the next five years
  • Precise estimation of the infrared search and track (IRST) system market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the infrared search and track (IRST) system industry across North America, Europe, APAC, South America, and Middle East and Africa
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of infrared search and track (IRST) system market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
  • 3.4 Market outlook: Forecast for 2021-2026
    • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
    • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
    • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
    • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

  • 4.1 Five forces summary
    • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
  • 4.2 Bargaining power of buyers
    • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
  • 4.3 Bargaining power of suppliers
    • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
  • 4.4 Threat of new entrants
    • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
  • 4.5 Threat of substitutes
    • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
  • 4.6 Threat of rivalry
    • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
  • 4.7 Market condition
    • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by End-user

  • 5.1 Market segments
    • Exhibit 24: Chart on End-user - Market share 2021-2026 (%)
    • Exhibit 25: Data Table on End-user - Market share 2021-2026 (%)
  • 5.2 Comparison by End-user
    • Exhibit 26: Chart on Comparison by End-user
    • Exhibit 27: Data Table on Comparison by End-user
  • 5.3 Aerospace and defense - Market size and forecast 2021-2026
    • Exhibit 28: Chart on Aerospace and defense - Market size and forecast 2021-2026 ($ million)
    • Exhibit 29: Data Table on Aerospace and defense - Market size and forecast 2021-2026 ($ million)
    • Exhibit 30: Chart on Aerospace and defense - Year-over-year growth 2021-2026 (%)
    • Exhibit 31: Data Table on Aerospace and defense - Year-over-year growth 2021-2026 (%)
  • 5.4 Civil - Market size and forecast 2021-2026
    • Exhibit 32: Chart on Civil - Market size and forecast 2021-2026 ($ million)
    • Exhibit 33: Data Table on Civil - Market size and forecast 2021-2026 ($ million)
    • Exhibit 34: Chart on Civil - Year-over-year growth 2021-2026 (%)
    • Exhibit 35: Data Table on Civil - Year-over-year growth 2021-2026 (%)
  • 5.5 Market opportunity by End-user
    • Exhibit 36: Market opportunity by End-user ($ million)

6 Customer Landscape

  • 6.1 Customer landscape overview
    • Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

  • 7.1 Geographic segmentation
    • Exhibit 38: Chart on Market share by geography 2021-2026 (%)
    • Exhibit 39: Data Table on Market share by geography 2021-2026 (%)
  • 7.2 Geographic comparison
    • Exhibit 40: Chart on Geographic comparison
    • Exhibit 41: Data Table on Geographic comparison
  • 7.3 North America - Market size and forecast 2021-2026
    • Exhibit 42: Chart on North America - Market size and forecast 2021-2026 ($ million)
    • Exhibit 43: Data Table on North America - Market size and forecast 2021-2026 ($ million)
    • Exhibit 44: Chart on North America - Year-over-year growth 2021-2026 (%)
    • Exhibit 45: Data Table on North America - Year-over-year growth 2021-2026 (%)
  • 7.4 Europe - Market size and forecast 2021-2026
    • Exhibit 46: Chart on Europe - Market size and forecast 2021-2026 ($ million)
    • Exhibit 47: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
    • Exhibit 48: Chart on Europe - Year-over-year growth 2021-2026 (%)
    • Exhibit 49: Data Table on Europe - Year-over-year growth 2021-2026 (%)
  • 7.5 APAC - Market size and forecast 2021-2026
    • Exhibit 50: Chart on APAC - Market size and forecast 2021-2026 ($ million)
    • Exhibit 51: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
    • Exhibit 52: Chart on APAC - Year-over-year growth 2021-2026 (%)
    • Exhibit 53: Data Table on APAC - Year-over-year growth 2021-2026 (%)
  • 7.6 South America - Market size and forecast 2021-2026
    • Exhibit 54: Chart on South America - Market size and forecast 2021-2026 ($ million)
    • Exhibit 55: Data Table on South America - Market size and forecast 2021-2026 ($ million)
    • Exhibit 56: Chart on South America - Year-over-year growth 2021-2026 (%)
    • Exhibit 57: Data Table on South America - Year-over-year growth 2021-2026 (%)
  • 7.7 Middle East and Africa - Market size and forecast 2021-2026
    • Exhibit 58: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
    • Exhibit 59: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
    • Exhibit 60: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • Exhibit 61: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
  • 7.8 US - Market size and forecast 2021-2026
    • Exhibit 62: Chart on US - Market size and forecast 2021-2026 ($ million)
    • Exhibit 63: Data Table on US - Market size and forecast 2021-2026 ($ million)
    • Exhibit 64: Chart on US - Year-over-year growth 2021-2026 (%)
    • Exhibit 65: Data Table on US - Year-over-year growth 2021-2026 (%)
  • 7.9 France - Market size and forecast 2021-2026
    • Exhibit 66: Chart on France - Market size and forecast 2021-2026 ($ million)
    • Exhibit 67: Data Table on France - Market size and forecast 2021-2026 ($ million)
    • Exhibit 68: Chart on France - Year-over-year growth 2021-2026 (%)
    • Exhibit 69: Data Table on France - Year-over-year growth 2021-2026 (%)
  • 7.10 China - Market size and forecast 2021-2026
    • Exhibit 70: Chart on China - Market size and forecast 2021-2026 ($ million)
    • Exhibit 71: Data Table on China - Market size and forecast 2021-2026 ($ million)
    • Exhibit 72: Chart on China - Year-over-year growth 2021-2026 (%)
    • Exhibit 73: Data Table on China - Year-over-year growth 2021-2026 (%)
  • 7.11 Germany - Market size and forecast 2021-2026
    • Exhibit 74: Chart on Germany - Market size and forecast 2021-2026 ($ million)
    • Exhibit 75: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
    • Exhibit 76: Chart on Germany - Year-over-year growth 2021-2026 (%)
    • Exhibit 77: Data Table on Germany - Year-over-year growth 2021-2026 (%)
  • 7.12 UK - Market size and forecast 2021-2026
    • Exhibit 78: Chart on UK - Market size and forecast 2021-2026 ($ million)
    • Exhibit 79: Data Table on UK - Market size and forecast 2021-2026 ($ million)
    • Exhibit 80: Chart on UK - Year-over-year growth 2021-2026 (%)
    • Exhibit 81: Data Table on UK - Year-over-year growth 2021-2026 (%)
  • 7.13 Market opportunity by geography
    • Exhibit 82: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

  • 8.1 Market drivers
  • 8.2 Market challenges
  • 8.3 Impact of drivers and challenges
    • Exhibit 83: Impact of drivers and challenges in 2021 and 2026
  • 8.4 Market trends

9 Vendor Landscape

  • 9.1 Overview
  • 9.2 Vendor landscape
    • Exhibit 84: Overview on Criticality of inputs and Factors of differentiation
  • 9.3 Landscape disruption
    • Exhibit 85: Overview on factors of disruption
  • 9.4 Industry risks
    • Exhibit 86: Impact of key risks on business

10 Vendor Analysis

  • 10.1 Vendors covered
    • Exhibit 87: Vendors covered
  • 10.2 Market positioning of vendors
    • Exhibit 88: Matrix on vendor position and classification
  • 10.3 ASELSAN AS
    • Exhibit 89: ASELSAN AS - Overview
    • Exhibit 90: ASELSAN AS - Business segments
    • Exhibit 91: ASELSAN AS - Key offerings
    • Exhibit 92: ASELSAN AS - Segment focus
  • 10.4 HGH Systemes Infrarouges SAS
    • Exhibit 93: HGH Systemes Infrarouges SAS - Overview
    • Exhibit 94: HGH Systemes Infrarouges SAS - Product / Service
    • Exhibit 95: HGH Systemes Infrarouges SAS - Key offerings
  • 10.5 Leonardo Spa
    • Exhibit 96: Leonardo Spa - Overview
    • Exhibit 97: Leonardo Spa - Business segments
    • Exhibit 98: Leonardo Spa - Key news
    • Exhibit 99: Leonardo Spa - Key offerings
    • Exhibit 100: Leonardo Spa - Segment focus
  • 10.6 Lockheed Martin Corp.
    • Exhibit 101: Lockheed Martin Corp. - Overview
    • Exhibit 102: Lockheed Martin Corp. - Business segments
    • Exhibit 103: Lockheed Martin Corp. - Key news
    • Exhibit 104: Lockheed Martin Corp. - Key offerings
    • Exhibit 105: Lockheed Martin Corp. - Segment focus
  • 10.7 Northrop Grumman Corp.
    • Exhibit 106: Northrop Grumman Corp. - Overview
    • Exhibit 107: Northrop Grumman Corp. - Business segments
    • Exhibit 108: Northrop Grumman Corp. - Key news
    • Exhibit 109: Northrop Grumman Corp. - Key offerings
    • Exhibit 110: Northrop Grumman Corp. - Segment focus
  • 10.8 Raytheon Technologies Corp.
    • Exhibit 111: Raytheon Technologies Corp. - Overview
    • Exhibit 112: Raytheon Technologies Corp. - Business segments
    • Exhibit 113: Raytheon Technologies Corp. - Key news
    • Exhibit 114: Raytheon Technologies Corp. - Key offerings
    • Exhibit 115: Raytheon Technologies Corp. - Segment focus
  • 10.9 Rheinmetall AG
    • Exhibit 116: Rheinmetall AG - Overview
    • Exhibit 117: Rheinmetall AG - Business segments
    • Exhibit 118: Rheinmetall AG - Key news
    • Exhibit 119: Rheinmetall AG - Key offerings
    • Exhibit 120: Rheinmetall AG - Segment focus
  • 10.10 Safran SA
    • Exhibit 121: Safran SA - Overview
    • Exhibit 122: Safran SA - Business segments
    • Exhibit 123: Safran SA - Key news
    • Exhibit 124: Safran SA - Key offerings
    • Exhibit 125: Safran SA - Segment focus
  • 10.11 Thales Group
    • Exhibit 126: Thales Group - Overview
    • Exhibit 127: Thales Group - Business segments
    • Exhibit 128: Thales Group - Key offerings
    • Exhibit 129: Thales Group - Segment focus
  • 10.12 Tonbo Imaging India Pvt Ltd.
    • Exhibit 130: Tonbo Imaging India Pvt Ltd. - Overview
    • Exhibit 131: Tonbo Imaging India Pvt Ltd. - Product / Service
    • Exhibit 132: Tonbo Imaging India Pvt Ltd. - Key offerings

11 Appendix

  • 11.1 Scope of the report
  • 11.2 Inclusions and exclusions checklist
    • Exhibit 133: Inclusions checklist
    • Exhibit 134: Exclusions checklist
  • 11.3 Currency conversion rates for US$
    • Exhibit 135: Currency conversion rates for US$
  • 11.4 Research methodology
    • Exhibit 136: Research methodology
    • Exhibit 137: Validation techniques employed for market sizing
    • Exhibit 138: Information sources
  • 11.5 List of abbreviations
    • Exhibit 139: List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
Technavio

TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
Technavio

TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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Infrared Search and Track (IRST) System market growth will increase by $879.44 million during 2022-2026.
The infrared search and track (irst) system market is expected to grow at a CAGR of 3.15% during 2022-2026.
Technavio has segmented the infrared search and track (irst) system market by geographic (North America, Europe, APAC, South America, and Middle East and Africa).
ASELSAN AS, Excelitas Technologies Corp., HGH Systemes Infrarouges SAS, Leonardo Spa, Lockheed Martin Corp., Northrop Grumman Corp., Raytheon Technologies Corp., Rheinmetall AG, Safran SA, Thales Group, Tonbo Imaging India Pvt Ltd. are a few of the key vendors in the infrared search and track (irst) system market.
North America will register the highest growth rate of 38.39% among the other regions. Therefore, the infrared search and track (irst) system market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the infrared search and track (irst) system market growth are:
  • Development of new-generation air and missile defense systems
  • Growing preference for infrared search and track IRST system over radar
The infrared search and track (irst) system market vendors should focus on grabbing business opportunities from the segment as it accounted for the largest market share in the base year.
  • What are the key global market and the regional market share?
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  • Who are the key market vendors and their growth strategies?
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  • What are the variables influencing the market growth in the primary regions?
  • What are the factors influencing the growth of the parent market?
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