IR and Thermal Imaging Systems Market Size Analysis, Size, Share, Growth, Trends and Forecast 2022-2031

The IR and Thermal Imaging Systems market was valued at USD 5.19 billion in 2022 and is expected to reach USD 7.92 billion by 2031, at a CAGR of 7.78% over the forecast period. Infrared and Thermal Imaging Systems have witnessed a paradigm shift in recent years, owing to their increasing use in military and defense applications.

– With global tensions ascending at a significant pace, countries to tackle global-political instabilities and to fortify their military power have been identified to invest heavily in IR and thermal imaging systems, driving the demand for these systems.
– With advancements in technologies, companies have miniaturized IR and thermal imaging sensors making them highly efficient and portable and increasing their ease of use. Handheld IR and thermal imaging systems are gaining traction for their portability, with this segment finding its applications in various industry verticals such as hospitals, saving repair times and heating costs.
– Lack of awareness about the emerging applications of the technology are expected to act as a restraint for this market.

Get the inside scoop with Sample report- https://www.sdki.us/sample-request-80248

Scope of the Report

Infrared and thermal imaging technology enables users to detect objects or individuals in complete darkness, difficult and distinct conditions. Unlike the other methods, thermal imaging works in environments without any ambient light. Like near-infrared illumination, thermal imaging can penetrate obscurants such as smoke, fog, and haze.
 

Key Market Trends

Industrial Applications are Expected to Have a Major Market Share.

Thermal imaging has initiated the process of making substantial inroads into other types of applications such as uncooled microbolometer-based detectors. These sensors have a long wave infrared band from 7.5 to 14 µm. Microbolometers are cheaper, smaller in size, lighter in weight; all these attributes while possessing immediate power-up capabilities, decreased power consumption, longer means the time between failures and are comparatively better than traditional bolometers.

The automotive industry uses thermal imaging as part of the safety system (E.g., identification of animals or humans on the road and warn the drivers before they encounter these potential hazards). Rear-view visibility systems (backup cameras) are now becoming mandatory on all new light vehicles sold in the US. With autonomous vehicles coming into the picture, this technology can facilitate the automatic breaking by distinguishing based on object size.

North America to Hold a Significant Market Share

Latest technological breakthroughs have facilitated the advancement of new IR and thermal imaging systems that can make the overall processes more efficient and can significantly improve accuracy in various applications.

There have been a series of new product launches, mergers and acquisitions in North America to take advantage of this opportunity. The major driver behind the investments has been the overall evolution and application of new technologies to unlock a huge number of volumes that were previously considered non-commercial. With these series of investments, industrial, transportation, security, and surveillance systems applications in North America is set to boom over the forecast period.

For instance, L-3 Communications majorly based out in the United States launched its latest Warrior Systems (ALST) and has signed a contract to deliver ground laser target designators to the Republic of Korea. L-3 released its latest Scarab system (a laser designator armed with rangefinding and an IR thermal imager), which is providing exact target designation during the day, night and in all battlefield conditions. The contract value is approximately USD 30 million.

Related Reports:

IR and Thermal Imaging Systems Market Size Analysis, Size, Share, Growth, Trends and Forecast 2022-2031
United Arab Emirates Smart Grid Market Size Report Examines Latest Trends and Key Drivers Supporting Growth 2022-2031
Europe Gas Turbine MRO Market in the Power Sector Size Outlook, Size, Share and Growth Stance Forecasted 2022-2031
United States Renewable Energy Market Size Projections & Future Opportunities Recorded for the Period 2022-2031
Belgium Wind Energy Market Size: Industry Development Scenario and Forecast 2022-2031

Leave a Reply

Your email address will not be published.