Valued at $6.4 billion by 2026, Infrared Search and Tracking Systems (IRST) is set to experience robust growth worldwide
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Editing: 6; Published: January 2022
Executive Pool: 4407
Companies: 44 – Players covered include Aselsan AS; HGH Infrared Systems; Leonardo SpA; Lockheed Martin Company; Northrop Grumman Company; Rheinmetall AG; Safran Group; Thales Group; Tonbo Imaging Private Limited and others.
Cover: All major geographies and key segments
segments: Component (scanning head, processing unit, control and display unit); End use (civilian, defense)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; UK; and rest of Europe); Asia Pacific; Rest of the world.
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Global Infrared Search and Tracking Systems (IRST) Market to Reach $6.4 billion by 2026
Amid COVID-19 crisis, Global Infrared Search and Tracking Systems (IRST) Market Estimated at US$4.9 billionis expected to reach a revised size of US$6.4 billion by 2026, growing at a CAGR of 4.5% over the analysis period. Civil, one of the segments analyzed in the report, is expected to register a CAGR of 4.8% and reach US$2.1 billion at the end of the analysis period. After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the Defense segment is readjusted to a revised CAGR of 4.4% for the next 7-year period.
The US market is estimated at $1.5 billion in 2021, when China is expected to reach $1.1 billion by 2026
Infrared Search and Tracking Systems (IRST) Market in United States is estimated at US$1.5 billion in the year 2021. Chinathe second largest economy in the world, is expected to reach a projected market size of US$1.1 billion by 2026 with a CAGR of 4.2% over the analysis period. Other notable geographic markets include Japan and Canada, each predicting growth of 4.3% and 3.5% respectively over the analysis period. In Europe, Germany is expected to grow at around 3.7% CAGR. After
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