The market for infrared search and track (IRST) systems will expand during the anticipated timeframe. Increasing desire for better situational awareness is a key driver driving the market for infrared search and track (IRST) systems in the next years. The term "infrared search and track" (IRST) system refers to a technique for locating and following infrared-emitting objects, such as jet aircraft and helicopters. The IRTS is widely utilized in the military and defense industry for security and surveillance. The primary factor that is driving the market for infrared search and track (IRST) systems is the rise in improved security and immunity to radars. Other major drivers include the need to upgrade situational awareness systems, an increase in defense spending, and an increase in the demand for improved situational awareness.
Additionally, increased research and development efforts and the focus on military modernization will open up new business prospects for suppliers of infrared search and track (IRST) systems during the projection period. The market for infrared search and track (IRST) systems will continue to face challenges as a result of the rise in the defense spending of industrialized nations. The market is growing as a result of the aerospace industry's increased usage of it for outer orbital automated rovers. Due to the government's huge investment in sophisticated tracking systems, this sector is expanding significantly. However, the development of the market is constrained by this technology's expensive design and production costs.
Over the coming years, the market is anticipated to develop as a result of the rise in demand for improved security and immunity to radars, as well as for improved situational awareness. While the global COVID-19 epidemic slows down production and the availability of vital raw materials for IRST, it is anticipated that this will restrain market growth over the coming years. Additionally, the expensive cost of this technology's engineering and production is a factor limiting market expansion.
Infrared Search & Track (IRST) System Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; ASELSAN A.S., Hughes Network Systems LLC., Leonardo S.p.A, Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Company, Rheinmetall AG, Safran S.A., Thales Group, Tonbo Imaging Private Limited, TTP plc.
Global Infrared Search & Track (IRST) System Market Segmentation:
By Component: Based on the Component, Global Infrared Search & Track (IRST) System Market is segmented as; Display Unit, Processing & Control Electronics, Scanning Head.
By Platform: Based on the Platform, Global Infrared Search & Track (IRST) System Market is segmented as; Airborne, Land, Naval, Others.
By End User: Based on the End User, Global Infrared Search & Track (IRST) System Market is segmented as; Aerospace & Defense, Civil.
By Region: Due to the region's growing demand for improved situational awareness, rising defense spending, and increased requirement for infrared search and track (IRST) systems, Europe currently dominates the global market.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.