Thermal Imaging Market is anticipated to shoot off by the end of 2022 :Top Keyplayers are Flir Systems Inc, Drs Technologies, Raytheon Company, Bae Systems, Danaher Corporation, Elbit Systems Ltd, Honeywell Aerospace

Description

After a surge of usage in the military market, thermal imaging has increased its vitality in other markets like smartphones industry, medicine, aviation,etc, i.e., commercial markets. Thermal imaging is a technology which is used to detect heat signature of the objects via devices such as camera, binoculars, smartphones etc, thereby, ensuring awareness about the location of the objects even in the dark. Heat signature is the specific heat radiated by an object which is used by the device to create an electronic image of the object associated with the heat.

Therefore, thermal imaging systems are essentially heat sensors which are capable of sensing minute differences in the level of heat radiated. The same technology is also used to locate an otherwise hidden object through opaque walls, buildings etc. The heat signature given off by the object to be located is read by the sensor and the location of the same is shown in the device like cameras, binoculars etc. This is specifically used in military to locate terrorists as well as to create artillery which locate and hit the targets. One of the major benefits of thermal imaging over other night-vision technologies is that it can penetrate through obscurants such as smoke, fog and haze with comparatively higher level of accuracy.

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Market Dynamics

The primary driver of this market is the increasing application of the technology in commercial market like medicine, aviation, transportation, surveillance etc. Another upcoming driver of the market is the development of multiple megapixel detectors and systems followed by implementation of thermographic sensors (result of megapixel detectors) into turn-key solutions in industrial environment. Another key driver of the market is increasing focus towards soldier modernization programs driven by huge investments from government in defense sector. Furthermore, because of advent of high definition thermal imaging technology, new and advanced applications are expected to drive the growth of the market. Surfacing of integrated solutions such as smartphones, automotive and closed circuit television (CCTV) cameras is expected to boost the market. Demand for cheaper products in the commercial sector has led companies to focus on low-price solutions which will result in greater awareness about the technology and new applications. Government policies in some countries can act as the deterrent for the growth of the market.

Market Segmentation

The thermal imaging market can be segmented primarily by technology; cooled and uncooled. Currently, uncooled thermal imaging is prevailing because of newness of the cooled thermal imaging technology. However, cooled thermal imaging provides superior response time, spectral behavior and sensitivity which makes this technology better than uncooled thermal imaging. Furthermore, segmentation can also be done by verticals; commercial, military and industrial. Market is gradually shifting from military dominated towards commercial and industrial dominated because of great acceptance of integrated solutions like smartphones etc. The segmentation by application; security, surveillance, detection, testing and firefighting. From all the applications, surveillance derives maximum revenue.

Geographical Analysis

With current existence in North America, Europe, Asia-Pacific, Middle East and Africa, North America is the major contributor to the thermal imaging market revenue. However, the annual growth rate of North America is expected to be lower than Asia-Pacific region.

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Key Players

Flir Systems Inc, Drs Technologies, Raytheon Company, Bae Systems, Danaher Corporation, Elbit Systems Ltd, Honeywell Aerospace, Thales Group and Lockheed Martin are the critical players in the market.

Report ContentsRegional AnalysisReport Highlights
Market segments

Market Drivers, Restraints and Opportunities
Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Market - Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players

North America
US and Canada

Latin America
Mexico, Brazil, Argentina and Rest of Latin America

Western Europe
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe

Eastern Europe
Russia
Poland
Rest of Eastern Europe

Asia Pacific
China
India
Japan
Australia and New Zealand
Rest of Asia Pacific

Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
South Africa
North Africa
Rest of Middle East and Africa

This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.

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Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)

Consumer and Pricing Analysis
Market dynamics of the industry
Market Segmentation
Estimated Market Sizing in terms of volume and value
Recent trends in Market and impact
Research Status and Technology Overview
Extensive Industry Structure Coverage

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