Global electro-optical and infrared systems market to reach $16 billion

The global military electro-optical and infrared systems market will reach $16.4 billion by 2020, according to a forecast by market research firm MarketsandMarkets. This reflects a compound annual growth rate of 7.71 percent.

"The growth is expected to be driven by the increasing usage of military electro-optical/infrared systems in surveillance operations," the study said. "In naval platforms, electro-optic systems are finding increasing use in next generation close in weapon systems (CIWS)."

Infrared systems will be especially popular, while China, India, Brazil, Russia, and Saudi Arabia will fuel growth in the electro-optical market.

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