Market Research Report
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
|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|
Published: August 1, 2021
Stratistics Market Research Consulting
Content info: 150+ Pages
Delivery time: 2-3 business days
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.
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Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.