EO/IR Gimbal Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2021 - 2031
EO/IR Gimbal Market: Overview
The increase in the use of drones, and unmanned aerial vehicles for surveillance may bring substantial growth to the EO/IR gimbal market during the forecast period of 2021-2031. Furthermore, the demand for intelligent surveillance and an increase in investments in defense may bring significant growth to the EO/IR gimbal market.
The EO/IR gimbal market can be segmented into 2-axis and 3-axis EQ/IR gimbals. The end users can be law enforcement, marine, defense, UAV/UAS, and others.
The research team at TMR Research is curating this report on the EO/IR gimbal market to provide an overall analysis of the market trends, dynamics, recent trends, revenue generation, restraints, opportunities, and regional dynamics. The in-depth analysis of all these aspects assists the stakeholders to make proper decisions to expand their business and make proper investments.
EO/IR Gimbal Market: Competitive Scenario
The leading players functioning in the global market are focusing on increasing the efficiency of EO/IR gimbals through extensive research and development activities. The developments such as onboard video encoding, real-time video stabilization, geo lock, and others have led to the rise in demand for the EO/IR gimbals which may create lucrative growth opportunities for the EO/IR gimbal market. The next-gen product launches and the promotional activities have led to increasing product awareness among the consumers. Furthermore, the huge investments made by key players to expand the products globally have created a good growth platform for the EO/IR gimbal market. The strategic collaborations with mergers, acquisitions, partnerships, and joint ventures to expand the market reach may act as a growth booster.
The key players in the EO/IR gimbal market are Mario, Urkspecsystems, I2Tech, L3 Wescam, Aerovironment, Inc., Flir Systems, Inc., Leonardo DRS, and Harris Aerial.
EO/IR gimbal Market: Key Trends and Opportunities
The rising demand for new and innovative products in drones for the recreational purpose may create immense growth opportunities for the EO/IR gimbal market. The increasing application of the EO/IR gimbals in civil and military services to provide intelligent security may generate immense growth opportunities for the EO/IR gimbal market. The escalating demand for flight navigation, photography, and reconnaissance in defense and marine services may boost the market growth.
The huge investments by government bodies of various countries across the globe in defense services for intelligent surveillance. Thus the increasing investments in weapon procurement and R & D activities may augment the growth of the EO/IR gimbal market during the forecast period. Further, the incorporation of EO/IR gimbals in drones has increased due to technological advancements such as Machine Learning and Artificial intelligence.
The outbreak of the COVID-19 pandemic across the globe caused disruptions in the supply chain owing to the lockdowns imposed by various countries. However, the businesses are bouncing back due to the relaxations provided by several countries which may ultimately contribute to the growth of the EO/IR gimbal market.
Recent developments such as the NUNTH camera system, which includes digital communications that can effectively carry up to 15 km with the help of an Omni antenna coupled with smooth working with drones. Furthermore, these cameras require standard power connections to work efficiently and can deliver real-time videos with full control of 3 axis dome gimbal. Hence, these developments may bring significant growth to the EO/IR gimbal market.
EO/IR Gimbal Market: Regional Dynamics
The EO/IR gimbal market can be classified into North America, Asia Pacific, Latin America, Europe, and the Middle East and Africa based on the regions across the globe. North America may prove to be the frontrunner owing to the extensive research and development activities conducted in this region. Furthermore, the innovations and technological advancements are on a rise in this region. These aspects may ultimately generate promising growth to the EO/IR gimbal market. Asia Pacific may also show rapid growth due to the increasing investments to strengthen the defense base.
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