Global Infrared Search & Track (IRST) System Market is projected to reach USD 7.03 Billion, with a CAGR of 5.6% between 2019 and 2026. The IRST system track threats at long ranges and is widely used by civil and military end-users. IRST systems track and detect jet aircraft, UAVs, and helicopters and are land, maritime, airborne, and space-based objects that emit electromagnetic radiation., Market Synopsis, The global infrared search & track (IRST) system market has witnessed high growth in recent years owing to the increasing need for enhanced situational awareness, increasing defense expenditure, and enhanced security and immunity over radars. However, the limited operational range of the IRST system is expected to restrain the market growth to some extent., Market USP, Increasing need to upgrade situational awareness systems, Market Drivers, , Increasing Defense Expenditures: Globally, military spending has increased significantly in recent years. According to the Stockholm International Peace Research Institute (SIPRI), global military expenditure rose by 2.6% to approximately USD 1.82 trillion from 2017 to 2019. The increase in defense expenditure is expected to boost the demand for advanced infrared search & track (IRST) systems and solutions., , , Increasing Need for Enhanced Situational Awareness, , , Enhanced Security and Immunity Over Radars, , Market Restraints, , Limited Operational Range of IRST System, , Segmentation, By Platform, , Land: The segment is expected to register the highest CAGR during the forecast period. The land-based ISRT systems are used to search and track suspected objects by military organizations and surveillance agencies., , , Maritime: The segment is expected to witness the highest growth during the forecast period, 2019 to 2026. This is due to the increasing adoption of the maritime IRST system by military agencies globally., , , Airborne: The segment dominated the IRST system market in 2019. The airborne IRST system makes use of unmanned aerial vehicles, UAVs, and helicopters. The sensors mounted on these platforms track and detect suspected objects., , , Space: The segment is expected to register steady growth during the forecast period, 2019 to 2026. A steady increase in demand for space-based ISRT systems by the military agencies globally is driving the segment., , By End-User, , Civil: The segment is expected to register the highest CAGR during the forecast period. This is due to the increasing de
