EO and IR Gimbal Market Trends: the global market size is projected to grow from USD 1.09 billion in 2024 to USD 1.36 billion by 2030

According to the new market research report "EO and IR Gimbal - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030", published by QYResearch, the global EO and IR Gimbal market size is projected to grow from USD 1.09 billion in 2024 to USD 1.36 billion by 2030, at a CAGR of 3.64% during the forecast period (2024-2030).

• Global EO and IR Gimbal Market Size (US$ Million), 2019-2030

Source: QYResearch, "EO and IR Gimbal - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”

• Global EO and IR Gimbal Top 11Players Rankingand Market Share (Ranking is based on the revenue of 2023, continually updated)

Source: QYResearch, "EO and IR Gimbal - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”

This report profiles key players of EO and IR Gimbal such as Northrop Grumman, L3Harris Wescam, Teledyne FLIR, China North Industries Group, Elbit Systems, Safran, Controp Precision Technologies, Edge Autonomy, Collins Aerospace, Ascent Vision Technologies, Leonardo DRS, etc.

In 2023, the global top five EO and IR Gimbal players account for 55.26% of market share in terms of revenue. Above figure shows the key players ranked by revenue in EO and IR Gimbal.

• EO and IR Gimbal, Global Market Size, Split by Product Segment

Source: QYResearch, "EO and IR Gimbal - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”

In terms of product type, 2-axis EO/IR Gimbal is the largest segment, hold a share of 43.18%.

• EO and IR Gimbal, Global Market Size, Split by Application Segment

Source: QYResearch, "EO and IR Gimbal - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”

In terms of product application, Military is the largest application, hold a share of 83.94%.

• EO and IR Gimbal, Global Market Size, Split by Region

Source: QYResearch, "EO and IR Gimbal - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”

Market Drivers:

D1: Growth in demand for national defense and security: Globally, countries are paying increasing attention to national defense and security, driving the application demand for EO and IR Gimbal in military reconnaissance, target tracking, border monitoring and other fields.

D2: Industrial upgrading and integration: As market competition intensifies, industrial integration and upgrading have become an inevitable trend. Through technological innovation, brand building, market expansion and other means, companies can improve their own strength and gain more market share.

D3: Emerging markets: With the development of the global economy and the popularization of technology, the demand for EO and IR Gimbal in emerging markets such as Africa and Latin America has gradually increased, providing the market with broad development space.

Challenge:

C1: High Cost of Technology: EO and IR Gimbal systems often require sophisticated technology and components, leading to relatively high manufacturing and procurement costs. This can limit their widespread adoption, especially in cost-sensitive applications or emerging markets.

C2: Strict Regulatory Framework: The use of EO and IR Gimbal systems, especially in military and security applications, is often subject to strict regulatory frameworks and export control laws. Compliance with these regulations can add complexity and costs to the market.

C3: Data Processing and Analysis: The vast amounts of data generated by EO and IR Gimbal systems require efficient processing and analysis. This can be a challenging task, especially when dealing with real-time or high-resolution data. The need for advanced data processing capabilities adds complexity and cost to the system.

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