Valued to be $6.4 Billion by 2026, Infrared Search & Track (IRST) Systems Slated for Robust Growth Worldwide
Thursday, July 7, 2022
SAN FRANCISCO , June 29, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Infrared Search & Track (IRST) Systems - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
What's New for 2022?
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Edition: 6; Released: January 2022
Executive Pool: 4407
Companies: 44 - Players covered include Aselsan A.S.; HGH SystEmes Infrarouges; Leonardo SpA; Lockheed Martin Corporation; Northrop Grumman Corporation; Rheinmetall AG; Safran Group; Thales Group; Tonbo Imaging Private Limited and Others.
Coverage: All major geographies and key segments
Segments: Component (Scanning Head, Processing Unit, Control & Display Unit); End-Use (Civil, Defense)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
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ABSTRACT-
Global Infrared Search & Track (IRST) Systems Market to Reach $6.4 Billion by 2026
Amid the COVID-19 crisis, the global market for Infrared Search & Track (IRST) Systems estimated at US$4.9 Billion, is projected 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 projected to record a 4.8% CAGR and reach US$2.1 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Defense segment is readjusted to a revised 4.4% CAGR for the next 7-year period.
The U.S. Market is Estimated at $1.5 Billion in 2021, While China is Forecast to Reach $1.1 Billion by 2026
The Infrared Search & Track (IRST) Systems market in the U.S. is estimated at US$1.5 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.1 Billion by the year 2026 trailing a CAGR of 4.2% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.3% and 3.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.7% CAGR. More
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About Global Industry Analysts, Inc. & StrategyR(TM)
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: ZA@StrategyR.com
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SOURCE Global Industry Analysts, Inc.
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