Global Infrared Search and Track (IRST) System Market Size to grow USD 9,067.36 Million by 2030 | CAGR of 5.56%: Zion Market Research
[220+ Pages Report] According to Zion Market Research, the Global Infrared Search and Track (IRST) System Market size was valued at around USD 5,957.10 million in 2022 and is estimated to grow about USD 9,067.36 million by 2030, at a CAGR of approximately 5.56% between 2023 and 2030. The key market players covered in the report are AIM Infrarot-Module GmbH, Lockheed Martin, Safran Electronics & Defense, Raytheon Technologies, FLIR Systems, Inc., Thales Group, Elbit Systems Ltd., Leonardo S.p.A., Hensoldt, Northrop Grumman Corporation, Textron Inc., L3 Harris Technologies, Rafael Advanced Defense Systems, and others.
NEW YORK, United States, April 19, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled *“Infrared Search And Track (IRST) System Market By Platform (Maritime, Airborne, Land, And Space ), By Component (Display, Scanning Head, And Processing & Control Electronics), By End-User (Defense And Civil), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030”* in its research database.
“According to the latest research study, the demand of global Infrared Search and Track (IRST) System Market size & share in terms of revenue was valued at USD 5,957.10 million in 2022 and it is expected to surpass around USD 9,067.36 million mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 5.56% during the forecast period 2023 to 2030.”
*What is Infrared Search and Track (IRST) System? How big is the Infrared Search and Track (IRST) System Industry?*
*Infrared Search and Track (IRST) System Market **Overview:*
The infrared search and track (IRST) system industry refers to the production and sale of infrared search and track (IRST) that are used in aerospace and military systems. These devices used infrared sensors to detect and track a target. They are designed to enable enhanced targeting capabilities and situational awareness, especially in situations where traditional radar-based technology and systems may not work efficiently. The IRST system consists of a scanning head that is responsible for detecting and tracking infrared emissions from targets.
They are also associated with the processing and control units that are required to manage the input data and provide real-time situational awareness to the user. IRST devices can be used on different platforms including naval vessels, aircraft, helicopters, and ground vehicles. Several political and commercial factors are responsible for the industry's growth while it tackles certain growth restraints and challenges.
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*Market Dynamics:*
*Growth Drivers*
· *Growing demand for advanced surveillance systems to propel market growth*
The global infrared search and track (IRST) system market is projected to grow owing to the increased spending by governments on improving defense and military technologies. As the defense sectors worldwide seek to enhance situational awareness on various platforms like maritime, on the ground, or in space, they are expected to invest higher in modern-age technologies like IRST systems.
Furthermore, the increasing development in the field of advanced infrared sensor technologies could result in higher efficiency and effectiveness of the existing IRST devices. Some of the areas currently being worked on include long-wave and mid-wave sensors. They offer enhanced performance in challenging environments and improved detection ranges. In addition to this, the changing political scenario of the modern world and the widely unpredictable power dynamics of various nations have led to increased demand for regional surveillance and targeting systems as regional tensions are on the rise. The industry itself is witnessing massive changes in terms of technological advancements toward IRST system integration which may drive market growth.
*Restraints*
One of the key growth restraints in the infrared search and track (IRST) system industry is in terms of technological challenges that exist around the IRST system. Issues related to sensor sensitivity, range, and false alarms are some of the most common problems faced by users and it required assistance from technical experts to resolve these complex situations. They can also greatly limit the effectiveness of the technology making it less reliable in difficult situations. Furthermore, the growing control over export and other regulations poses a significant roadblock during the forecast period since the international rate in the industry is highly regulated.
*Opportunities & Challenges*
The integration with other advanced systems may provide growth opportunities while the weather condition sensitivity could challenge market growth.
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*Report Attributes* *Report Details*
*Report Name* *Infrared Search and Track (IRST) System Market Research Report*
*Market Size in 2022* *USD 5,957.10 Million*
*Market Forecast in 2030* *USD 9,067.36 Million*
*Growth Rate* *CAGR of 5.56%*
*Number of Pages* *220*
*Key Companies Covered* *AIM Infrarot-Module GmbH, Lockheed Martin, Safran Electronics & Defense, Raytheon Technologies, FLIR Systems, Inc., Thales Group, Elbit Systems Ltd., Leonardo S.p.A., Hensoldt, Northrop Grumman Corporation, Textron Inc., L3 Harris Technologies, Rafael Advanced Defense Systems, Rheinmetall AG, Mitsubishi Electric Corporation, Aselsan A.S., Kongsberg Gruppen ASA, BAE Systems plc, Harris Corporation, MBDA, Collins Aerospace, Israel Aerospace Industries Ltd., General Dynamics Corporation, Honeywell International Inc., and Qioptiq Ltd.*
*Segments Covered* *By Platform, Component, End-User, And Region*
*Regions Covered* *North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)*
*Base Year* *2022*
*Historical Year* *2016 to 2020*
*Forecast Year* *2023 - 2030*
*Customization Scope* *Avail customized purchase options to meet your exact research needs. **Request For Customization**Infrared Search and Track (IRST) System Market: Segmentation Analysis*
The global infrared search and track (IRST) system market is segmented based on platform, component, end-user, and region.
Based on platform, the global market segments are maritime, airborne, land, and space. In 2022, the industry witnessed the highest growth in the airborne segment since the largest consumers of the IRST system are fighter jets and surveillance aircraft. This airborne equipment requires a higher degree of situation awareness for detecting and tracking targets mostly in complex environments. The maritime segment is another significant contributor in the industry as the marine vessels use it to detect any threat in the vast expanse of sea and ocean including small boats or low-flying missiles. In the Fiscal Year (FY) 2022 budget request, the Department of Defense (DoD) requested a total of USD 156.3 billion for the Air Force.
Based on component, the infrared search and track (IRST) system industry segments are display, scanning head, and process & control electronics. In 2022, the highest revenue was observed in the scanning head segment since it is the most expensive component of the entire IRST system since it is equipped with advanced optics and infrared detector arrays that are essential for tracking the object. The display and process & control electronics segments are also crucial to the segmental growth. They are responsible for processing and analyzing the data provided by the scanning head segment. However, they are less expensive as compared to the other components. The mid-wave infrared range ranges between 3 to 5 microns (μm) in length.
Based on end-user, the global market segments are defense and civil.
The global Infrared Search and Track (IRST) System market is segmented as follows:
*By Platform*
· Maritime
· Airborne
· Land
· Space
*By Component*
· Display
· Scanning Head
· Processing & Control Electronics
*By End-User*
· Defense
· Civil
Browse this Full Research Report | *Infrared Search and Track (IRST) System Market By Platform, By Component, By End-User, And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030**Competitive Landscape*
Some of the main competitors dominating the global Infrared Search and Track (IRST) System market include -
· AIM Infrarot-Module GmbH
· Lockheed Martin
· Safran Electronics & Defense
· Raytheon Technologies
· FLIR Systems Inc.
· Thales Group
· Elbit Systems Ltd.
· Leonardo S.p.A.
· Hensoldt
· Northrop Grumman Corporation
· Textron Inc.
· L3 Harris Technologies
· Rafael Advanced Defense Systems
· Rheinmetall AG
· Mitsubishi Electric Corporation
· Aselsan A.S.
· Kongsberg Gruppen ASA
· BAE Systems plc
· Harris Corporation and Others.
* **Key Insights from Primary Research**:*
· According to the analysis shared by our research forecaster, the Infrared Search and Track (IRST) System market is likely to expand at a CAGR of around 5.56% during the forecast period (2023-2030).
· In terms of revenue, the Infrared Search and Track (IRST) System market size was valued at around US$ 5,957.10 million in 2022 and is projected to reach US$ 9,067.36 million by 2030.
· The infrared search and track (IRST) system market is projected to grow at a significant rate due to the growing demand for advanced surveillance systems
· Based on end-user segmentation, the defense was predicted to show maximum market share in the year 2022
· Based on platform segmentation, airborne was the leading platform in 2022
· On the basis of region, North America was the leading revenue generator in 2022
*Have Any Query? Ask Our Experts:* https://www.zionmarketresearch.com/inquiry/global-infrared-search-and-track-system-market*Key questions answered in this report:*
· What is the market size and growth rate forecast for Infrared Search and Track (IRST) System industry?
· What are the main driving factors propelling the Infrared Search and Track (IRST) System Market forward?
· What are the leading companies in the Infrared Search and Track (IRST) System Industry?
· What segments does the Infrared Search and Track (IRST) System Market cover?
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*Key Offerings:*
· Market Size & Forecast by Revenue | 2023−2030
· Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
· Market Segmentation – A detailed analysis by Platform, Component, End-User, and Region
· Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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*Regional Analysis:*
The global infrared search and track (IRST) system market is expected to witness the highest growth in North America due to several factors. The US may lead with the highest growth rate. One of the key reasons for growth is the ongoing research & development by the US government to integrate IRST systems with other advanced technologies and carriers. For instance, the recent announcement by the US to include IRST systems in its range of F-22 raptor fight jets. Additionally, the robust military infrastructure is another crucial growth factor for regional growth.
The country's government is also focusing on the affordability of the systems so that it can export them to other countries and improve trade relations. In Asia-Pacific, India, Russia, Iran, and China may lead regional growth due to the growing investment toward improving military efficiency while the nations prepare for the coming years in which political dynamics are expected to change.
*By Region*
· North America
· U.S.
· Canada
· Rest of North America
· Europe
· France
· UK
· Spain
· Germany
· Italy
· Rest of Europe
· Asia Pacific
· China
· Japan
· India
· South Korea
· Rest of Asia Pacific
· The Middle East & Africa
· Saudi Arabia
· South Africa
· Rest of the Middle East & Africa
· Latin America
· Brazil
· Argentina
· Rest of Latin America
*Recent Developments*
· In October 2022, the US government announced that it has completed the initial flight testing of Lockheed Martin-designed TacIRST. The sensor was installed on F-5 Advanced Tiger aggressor jets
· In April 2022, Hindustan Aeronautics Limited (HUL) and Bharat Electronics Limited (BEL) announced a strategic partnership for the development and production of a range of dual-band Infra-Red Search and Track System especially for the country’s Su-30 MKI fighter aircraft.
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