The Infrared Search & Track system market is projected to grow from an estimated USD 4.47 Billion in 2017 to USD 5.95 Billion by 2022, at a CAGR of 5.88% from 2017 to 2022. The objective of this study is to analyze, define, describe, and forecast the IRST system market based on end user, platform, component, and region. The report also focuses on the competitive landscape of this market by profiling companies based on their financial positions, product portfolios, growth strategies, and analyzing their core competencies and market shares to anticipate the degree of competition prevailing in the market. This report also tracks and analyzes competitive developments, such as partnerships, mergers & acquisitions, new product developments, and Research & Development (R&D) activities in the IRST system market. The base year considered for this study is 2016 and the forecast period is from 2017 to 2022.

The research methodology used to estimate and forecast the IRST system market includes the study of data and revenues of key market players through secondary resources, such as annual reports, Yahoo Finance, Federal Aviation Administration (FAA), International Civil Aviation Organization (ICAO), International Air Transport Association (IATA), and Stockholm International Peace Research Institute (SIPRI). The bottom-up procedure was employed to arrive at the overall size of the IRST system market from the revenues of key players in the market. After arriving at the overall market size, the IRST system market was split into several segments and sub segments, which were then verified through primary research by conducting extensive interviews with key industry experts, such as CEOs, VPs, directors, executives, and engineers. These data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The breakdown of profiles of primaries is shown in the figure given below:

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Market Ecosystem

The ecosystem of the IRST system market has been segmented based on end user, platform, component and region. The key players operating in the IRST system market include component suppliers, Leonardo S.p.A. (Italy), Thales Group (France), Rheinmetall AG. (Germany), Lockheed Martin Corporation (U.S.), and Northrop Grumman Corporation (U.S.), among others. Contracts, new product launches, agreements, and acquisitions are the major strategies adopted by key players in the IRST system market.

Target Audience for this Report

Manufacturers of IRST systems

Original Equipment Manufacturers (OEMs)

Sub-component Manufacturers

Technology Support Providers

Government and Certification Bodies

�This study answers several questions for stakeholders, primarily, which market segments they need to focus upon during the next two to five years to prioritize their efforts and investments.�

Scope of the Report:

IRST System Market, By End User

Civil

Defense

Market, By Platform

Airborne

Naval

Land

Others

Market, By Component

Scanning Head

Processing Unit

Control & Display Unit

Market, By Region

North America

Europe

Asia-Pacific

Rest of the World

Available Customizations

Along with the market data, MarketsandMarkets offers customizations as per specific needs of a company. The following customization options are available for this report:

Geographic analysis Further breakdown of the Rest of the World market

Company information Detailed analysis and profiles of additional market players (up to five)

Additional level segmentation

The IRST system market is estimated to be USD 4.47 Billion in 2017 and is projected to reach USD 5.95 Billion by 2022, at a CAGR of 5.88% during the forecast period. Increasing need for enhanced situational awareness and enhanced security and immunity over radars are the major factors expected to drive the market in the coming years.

On the basis of end user, the IRST system market has been segmented into civil and defense. The defense segment leads the market in terms of market size, and is expected to continue to lead over the next five years. The use of passive situation awareness system by defense forces is growing at a rapid pace across the globe. Growth of the defense segment is mainly attributed to the rising number of aircraft modernization programs, increasing procurement of military equipment, and rise in defense budgets globally.

On the basis of platform, the IRST system market has been segmented into airborne, naval, land, and others. The airborne segment leads the market in terms of market size, is expected to continue to lead over the next five years, and is projected to grow at the highest CAGR during the forecast period. The growth of the airborne segment at a high rate is attributed to increase in defense aircraft modernization programs and use of better passive systems to search and detect in airborne platforms.

On the basis of component, the IRST system market has been segmented into scanning head, processing & control electronics, control & display. The scanning head segment leads the market in terms of market size, and is expected to continue to lead over the next five years. However, the processing & control electronics segment is projected to grow at the highest CAGR during the forecast period. There has been an increasing demand for infrared based devices for aircraft, so better processing electronics are required to sense and get better feedback out of each and every IR signature emitted from aircraft.

Europe is estimated to lead the IRST system market in 2017. Countries in this region include the U.K., France, Germany, Russia, Sweden and Rest of Europe. Factors contributing to the leading position are defense aircraft modernization programs and increasing demand for situational awareness.

Restricted defense budgets of developed countries is a major restraint for the growth of the IRST system market. The life cycle of the IRST system is 15-20 years; these systems are upgraded post the mentioned timeframe. Therefore, the market is prone to remain stagnant in terms of technology for a long time.

Several major players are present in the IRST system market. Some of these players are Lockheed Martin Corporation (U.S.), Thales Group (France), Safran S.A. (France), Rheinmetall AG. (Germany), Aselsan A.S. (Turkey), Leonardo S.p.A. (Italy), Northrop Grumman Corporation (U.S.), and HGH Systemes Infrarouges SAS (France), among others. Contracts has been the key growth strategy adopted by the major players in the IRST system market.

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