Military Thermal Imaging Market 2019-2023 to Witness Flourishing Growth at CAGR of 6% | Leading Players Overview- FLIR Systems, Teledyne Technologies, Lockheed Martin, Leonardo, BAE, L3, Thales, Sofradir, Raytheon, Harris and General Dynamics Mission Syst

Military Thermal Imaging Market by Type (Camera, Module, Scope), Application (Security & Surveillance, Monitoring & Inspection, Target Detection, Situational Awareness, & Others), End-user (Naval, Airborne, & Land), Platform (Man-Portable & Fixed Mounted) & Region – Forecast till 2023

Fervent players driving the market for the military thermal imaging include Teledyne Technologies Inc. (U.S.), FLIR Systems Inc. (U.S.), Lockheed Martin Corporation (U.S.), BAE Systems (U.K), Leonardo DRS (Italy), L3 Technologies Inc. (U.S.), Sofradir (France), Thales Group (France), Raytheon Company (U.S.), General Dynamics Mission Systems Inc (U.S.), and Harris Corporation (U.S.).

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Market Highlights

Thermal imaging technology is specially designed for military applications to provide soldiers with a clear vision for the military operations conducted in low light conditions, such as in the night, evenings or fogs. High uptake of electro-optical solutions, such as thermal imaging that improves the accuracy of armed forces on the Warfield, whether on the land, sea, or air is the key driving force escalating the market growth of this technology.

Acknowledging the increasing growth, the market is witnessing currently, Market Research Future (MRFR) in its recently published study report confirms that the global military thermal imaging market will reach exponential heights by 2023; posting approximately 6% CAGR throughout the assessment period - 2018 to 2023.

Significant investments made in the development of military thermal imaging systems which are leading the market growth are expected to continue to do so throughout the forecast period. Simultaneously, the augmenting demand for inspections and monitoring technologies in the defense sector is propelling the market growth, offering new growth opportunities to the market players.

With the advancements of technologies prices of thermal imaging products are dramatically dropping which in turn, is leading to increasing the adoption of these products and increasing the market size of military thermal imaging systems.

On the other hand, factors such as the requirement for additional detailing in longwave infrared cameras and export restrictions of military thermal imaging are expected to obstruct the market growth during the forecast period.

Industry/Innovation/Related News:

September 26, 2018 - A research team at the US Army Research Laboratory (ARL) invented a new thermal imaging breakthrough that could make night vision clearer than ever before. Although the army has always had access to sophisticated thermal imaging, this new research advances this technology even further. Now, the military camera can detect tripwires, booby traps and camouflaged targets in even in pitch black.

Global Military Thermal Imaging Market - Competitive Analysis

Characterized by several major and small players along with the new entrants forming a competitive edge, the market for military thermal imaging appears to be highly competitive. Key players are focusing upon developing their product portfolio with the help of advanced technologies in order to maintain their market position and thus to drive the market growth. Innovation, mergers & acquisitions, and brand reinforcement remain the key trends for leading players.

Players are investing in internal R&D and on acquiring other promising firms to support their expansion plans. Prominent manufacturers of military thermal imaging equipment are investing more in R&D activities to the development of new technologies and to bring novelties in their already existing products. Besides the rising government funding is motivating key companies to manufacture new equipment that can match the changing trends and needs of defense sectors.

These players develop state of the art R&D labs and strong sales and distribution network which have helped them to gain the leadership position in the market. An ever-increasing emphasis on inbound lead generation instead of branding-oriented efforts has been observed among the marketers.

Global Military Thermal Imaging Market - Segmentation

MRFR has segmented the analysis into five key dynamics for the scope of better understanding:-

By Types : Camera, Module, and Scope among others.

By Applications : Security & Surveillance, Monitoring & Inspection, Target Detection, and Situational Awareness among others.

By End-users : Naval, Airborne, and Land.

By Platforms : Man-Portable, Fixed, and Mounted.

By Regions : North America, Europe, APAC and Rest-of-the-World.

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Global Military Thermal Imaging Market - Regional Analysis

The North American region is projected to dominate the military thermal imaging market in the coming years, due to the presence of several thermal imaging product manufacturers and R&D centers in this region. Substantial technological advancements and their uptake alongside the colossal defense budget drive the market growth in the region.

The European region is another lucrative market for military thermal imaging. The market is heading with the constant advancements in warfare platforms with advent technologies. Backed by the enormous investments in the R&D activities to develop related technologies, European countries such as Germany and the U.K. majorly drive the market growth.

The Asia Pacific region is rapidly emerging as a promising market for military thermal imaging due to the increasing number of cross-border conflicts in this region. Countries such as the Philippines, Vietnam, Malaysia, and Taiwan have increased their military spending in recent years, to strengthen their defense sector against China, due to the conflict at the South China Sea. On the other hand, countries such as India and South Korea have increased their defense budgets to implement advent technologies to counter the threats from their disruptive neighbors.

Whereas, the military thermal imaging market in Middle Eastern countries are expected to register a high growth rate over the forecast period, with heavy investments especially from Saudi Arabia to safeguard against attacks from Iraq. Furthermore, the Middle Eastern region, specifically due to the emergence of the Islamic State (IS), is expected to double up their efforts and defense budgeting to secure their nations from terrorism.

Scope of Report

The report for Global Military Thermal Imaging Market of Market Research Future comprises extensive primary research, along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts and key opinion leaders; it helps the reader gain a deeper insight into the market and industry performance. The report gives a clear picture of current market scenario, including historical and projected market size in terms of value and volume, technological advancement, macro economic and governing factors in the market. The report provides detailed information and strategies of the top key players in the industry. The report also contains a broad study of the different market segments and regions.

Table of Contents

1 Executive Summary

2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Definition
2.2.2 Research Objective
2.2.3 Assumptions
2.2.4 Limitations
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model

3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat of New Entrants
3.1.2 Bargaining Power of Buyers
3.1.3 Threat of Substitutes
3.1.4 Segment Rivalry
3.1.5 Bargaining Power of Buyers
3.2 Value Chain/supply Chain Analysis

4 Market Dynamics
4.1 Introduction
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends

Continued........

List of Tables

Table 1 Global Military Thermal Imaging Market: by Region, 2018-2023
Table 2 North America Military Thermal Imaging Market: by Country, 2018-2023
Table 3 Europe Military Thermal Imaging Market: by Country, 2018-2023
Table 4 Asia Pacific Military Thermal Imaging Market: by Country, 2018-2023
Table 5 Middle East & Africa Military Thermal Imaging Market: by Country, 2018-2023
Table 6 Latin America Military Thermal Imaging Market: by Country, 2018-2023
Table 7 Global Military Thermal Imaging Market, by Type, by Regions, 2018-2023
Table 8 North America Military Thermal Imaging Market, by Type, by Country, 2018-2023
Table 9 Europe Military Thermal Imaging Market, by Type, by Country, 2018-2023

Continued.........

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