EO/IR Gimbal Market Size, Share, Price Analysis, Report 2024-2032

(MENAFN- IMARC Group) IMARC Group latest research report tittled“ EO/IR Gimbal Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032 ” offers a comprehensive analysis of the industry, which comprises insights on the global EO/IR gimbal market report . The global EO/IR gimbal market size reached US$ 813.3 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 1,766.5 Million by 2032, exhibiting a growth rate (CAGR) of 8.73% during 2024-2032 .

For an in-depth analysis, you can refer sample copy of the report:

Factors Affecting the Growth of the EO/IR Gimbal Industry:

  • Increasing Demand for Surveillance and Security:

The growing adoption of electro-optical/infrared (EO/IR) gimbal for surveillance and security applications is positively influencing the market. In addition, there is an increase in the demand for advanced technologies to protect against evolving threats. Apart from this, EO or IR gimbal systems offer enhanced visual and thermal imaging capabilities that allow for effective surveillance in both day and night conditions. Furthermore, these systems are crucial for border control, where they can detect illegal border crossings and monitor vast areas efficiently while allowing for rapid response.

  • Technological Advancements:

Manufacturers are consistently improving the performance of EO or IR gimbal systems by enhancing image stabilization, reducing motion blur, and ensuring clear imagery even during vehicle or aircraft movement. Higher-resolution sensors provide sharper visuals, and advancements in thermal imaging offer enhanced target detection capabilities. Furthermore, miniaturization and weight reduction efforts are making these systems more versatile and suitable for a wider range of applications. Besides this, the integration of artificial intelligence (AI) and machine learning (ML) algorithms enables automatic target tracking and recognition, making these systems even more effective in identifying and responding to security threats.

  • Growing Demand for Non-Invasive Medical Imaging:

The growing demand for non-invasive medical imaging is offering a positive market outlook. Non-invasive imaging techniques eliminate the risks associated with invasive procedures, such as surgeries or biopsies, reduce patient discomfort, and provide quicker recovery times. In line with this, EO or IR gimbals can be used for precise visualization and illumination of surgical sites and allow surgeons to perform minimally invasive (MI) procedures with enhanced accuracy, which is impelling the growth of the market. Furthermore, thermal imaging EO or IR systems can be employed to screen individuals for elevated body temperatures.

EO/IR Gimbal Market Report Segmentation:

By Product Type:

  • 2-Axis EO/IR Gimbals
  • 3-Axis EO/IR Gimbals

3-axis EO or IR gimbals represented the largest segment as they are highly versatile and offer enhanced stability and accuracy for capturing detailed images and videos.

By End User:

  • Defense
  • Marine
  • Law Enforcement
  • Others

Defense accounted for the largest market share due to the increasing need to detect and track threats efficiently.

Regional Insights:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa

North America dominates in the EO/IR gimbal market on account of the presence of key manufacturers.

Global EO/IR Gimbal Market Trends:

The integration of EO or IR gimbal systems in drones for recreational and professional use is bolstering the growth of the market. In addition, these systems enable drone users to capture high-quality aerial imagery and conduct tasks, such as aerial photography, videography, and surveying, with enhanced efficiency.

In the oil and gas industry, EO or IR gimbal systems are used in pipeline inspection, oil rig security, and monitoring remote facilities, which is contributing to the growth of the market. Apart from this, these systems help identify leaks, assess equipment integrity, and enhance overall safety.

Other Key Points Covered in the Report:

  • COVID-19 Impact
  • Porters Five Forces Analysis
  • Value Chain Analysis
  • Strategic Recommendations

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