(PRWEB) April 30, 2014
According to a new market research report of "Electro-Optical Market by Product (Infrared and Laser), by Segments (Defense, Aerospace, and Homeland Security), Application (Airborne, Naval and Land-based Systems) & by Geography (Asia-Pacific, Europe, The Middle East, North America and South America) - Forecasts & Analysis (2014-2020)", published by MarketsandMarkets, is projected to cross $18.42 Billion by 2020, growing at a CAGR of 3.00% from 2014 to 2020.
Browse more than 69 Market Data Tables with 7 Figures spread through 165 Pages and in-depth TOC on "Electro-Optical Market."
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The Electro-Optical Market revenue will predominantly be from the defense segment followed by homeland security and aerospace segments. The market will be driven by upgrade and replacement of existing hardware of the defense segment. Geographic regions such as APAC, North America and Europe will see majority of the growth. Airborne electro optic systems are estimated to rise due to increased deployment of UAVs for surveillance in aerospace and homeland security. Major markets for EO systems are identified to be the U.S., European Union (EU), India, Japan, South Korea, and Brazil.
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