Market Share of Military Electro-optical And Infrared Systems Industry
The military electro-optical & infrared systems market is semi-consolidated in nature, with the presence of few players holding significant shares in the market. Some prominent players in the market are Leonardo S.p.A, BAE Systems plc, THALES, Ultra Electronics Holding, and Lockheed Martin Corporation. Prominent market players have multifaceted product portfolios. Additionally, they try to modify and enhance their current capabilities through continuous research and development and introduce sophisticated features to deliver value-added electro-optical/infrared (EO/IR) solutions to end users. This also helps them introduce low-differentiated products at competitive pricing.
Most of the integration programs are long-term; hence, several IDIQ contracts are currently underway, signifying design modification and production of sophisticated EO/IR sensors per end-user specifications. Since the end-user requirements are diverse, it encourages strategic collaboration between market players.
The development of new integration platforms drives the demand for the integration of sophisticated EO/IR sensors and systems, which, in turn, may create a positive outlook for the market during the forecast period.
Military Electro-optical and Infrared Systems Market Leaders
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Lockheed Martin Corporation
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BAE Systems plc
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Ultra Electronics Holdings
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THALES
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Leonardo S.p.A
*Disclaimer: Major Players sorted in no particular order
