Thermal Imaging Market Forecasts By Key Industry Players: FLIR Systems, BAE Systems, Raytheon, Leonardo DRS, Testo SE, L-3 Technologies, Seek Thermal, ULIS, Fluke Corporation, 3M Scott, Allied Vision, American Technologies Network, Avon Protection Systems

Market Overview: -

The thermal imaging market is characterized by the compliance of these products with industry standards such as the National Fire Protection Association (NFPA) 1801 standard, the Ingress Protection (IP) rating 65,67 and the regulations imposed on the export of such devices including the U.S. International Traffic in Arms Regulations and the Export Administration Regulations (EAR). Such regulatory compliances ensure the device’s reliability and performance even under adverse conditions and prevent misuse and trafficking for illegal purposes. Thermal Imaging Market to surpass USD 10 billion by 2024 to grow at over 13% CAGR between 2018 and 2024.
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Top Key Players: -

Key vendors in the thermal imaging market include FLIR Systems, BAE Systems, Raytheon, Leonardo DRS, Testo SE, L-3 Technologies, Seek Thermal, ULIS (Sofradir), and Fluke Corporation, 3M Scott, Allied Vision, American Technologies Network (ATN) Corp., Avon Protection Systems Inc., Axis Communications, Bae Systems Imaging Solutions, COX, Dali Technology, Draeger Safety Inc., General Starlight Company Inc. (GSCI), L3 Technologies, Leonardo DRS, Magnity Electronics, Raytheon, Testo SE, etc.

Market share calculation in this report is not done based on companies covered in it. The calculation of thermal imaging market share is done based on a regional approach and countries covered. On request, additional companies can be covered as well as regional data for particular country / countries can be provided.

Regional Segmentations: -

The North American region is likely to dominate the thermal imaging market; it accounted for over 35% of the revenue share in 2017. Increasing adoption across home automation and commercial applications coupled with the growing demand for smartphone-based dongles is expected to drive the thermal imaging market growth in the region. The U.S. Army can be attributed as an early adopter and eminent enabler of the technology awareness among the various application segments.

Major thermal imaging market drivers in Asia Pacific countries including India, Malaysia, and South include the rapid pace of technology adoption and penetration in the region. The declining price of thermal cameras and the presence of regional vendors offering low-cost solutions are expected to favorably impact the market growth in India and China.

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Partial Chapter of the Table of Content

Chapter 3. Thermal Imaging Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 – 2024
3.2.1. Thermal infrared (IR) detector industry landscape
3.2.1.1. Thermal IR detector market size & forecast, 2013 – 2024
3.2.1.1.1. North America
3.2.1.1.2. Europe
3.2.1.1.3. Asia Pacific
3.2.1.1.4. Latin America
3.2.1.1.5. MEA
3.3. Industry ecosystem analysis
3.3.1. Component suppliers
3.3.2. Product manufacturers/OEMs
3.3.3. System integrators
3.3.4. Distribution channel analysis
3.3.5. End-use landscape
3.3.6. Vendor matrix
3.4. Technology landscape
3.4.1. Advanced Driver-Assistance Systems (ADAS)
3.4.2. Internet of Things (IoT)
3.4.3. Smartphone integration
3.4.4. UAV & drones
3.4.5. Video analytics
3.5. Price trend analysis, 2013 - 2024
3.5.1. North America
3.5.2. Europe
3.5.3. Asia Pacific
3.5.4. Latin America
3.5.5. Middle East and Africa
3.6. Cost structure analysis
3.6.1. Assembly, test & calibration
3.6.2. Board electronics
3.6.3. Housing & packaging
3.6.4. IR sensor system
3.6.5. Lenses
3.7. Regulatory landscape
3.7.1. National Fire Protection Association (NFPA) Standards
3.7.2. Health & Safety at Work Act 1974
3.7.3. International Traffic in Arms Regulations
3.7.4. Export Administration Regulations (EAR)
3.7.5. Others
3.8. Industry impact forces
3.8.1. Growth drivers
3.8.1.1. Increasing demand from military across the U.S.
3.8.1.2. Thermal building surveys in the UK
3.8.1.3. Growth of automotive night vision market in China
3.8.1.4. Stringent border security in Asia Pacific region
3.8.1.5. Growing awareness of thermal imaging in Latin America to combat crimes
3.8.1.6. Demand across oil & gas industries in the Middle East
3.8.2. Industry pitfalls and challenges
3.8.2.1. High cost of devices
3.8.2.2. Export restrictions
3.9. Growth potential analysis
3.10. Porter’s analysis
3.10.1. Threat of new entrants
3.10.2. Buyer’s power
3.10.3. Threat of substitutes
3.10.4. Threat of suppliers
3.10.5. Industry rivalry
3.11. Competitive landscape, 2017
3.11.1. Company market share
3.11.2. Strategy dashboard
3.11.3. Acquisition landscape
3.12. PESTEL analysis

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Personal vision system devices are expected to register the fastest growth due to the availability of low-cost solutions and demand for technology in consumer outdoor use such as hunting and mountain sports, law enforcement, and border patrol. The emergence of unmanned and airborne vehicles in defense applications is expected to stimulate thermal imaging market growth.

Handheld/portable cameras constitute the largest segment accounting for over 50% of the market revenue share in 2017. Growing security concerns coupled with technological advancements, reduction in size, and an average selling price are the major factors driving the demand for handheld imagers. The ability of such devices to track, locate, capture, and record criminal activity in adverse conditions is expected to favorably drive the handheld thermal imaging market demand.

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