1. An electro-optical system for processing image information of a plurality of frames, sequentially generated from an electro-optical sensor and representative of a field of view thereof, in order to extract and classify candidate object image patterns in said image frames in accordance with a set of reference object image patterns and a signature feature set associated with each reference pattern, said system comprising: means operative to extract image patterns belonging to candidate objects from each of the plurality of sequentially generated frames and to derive a set of signature features associated with each image pattern extracted; first means for correlating said image patterns extracted from frame-to-frame to identify extracted image patterns belonging to common candidate objects; means for integrating the correlated extracted image patterns belonging to the identified common candidate objects to form a composite image pattern of each candidate object and a composite signature feature set associated therewith; second means for correlating a formed composite image signature feature set with the signature feature sets of selected reference object image patterns to generate a corresponding set of correlation values; means for generating a threshold correlation value; and means operative to classify a candidate object as a reference object based on a comparison between a selected one of said generated correlation values associated with said candidate object and said threshold correlation value.