IR & Thermal Imaging Systems Market 2019 Global Industry Growth, Trends, Sales and Key Companies Analysis by FLIR SYSTEMS, ULIS SAS, LOCKHEED MARTIN, BAE SYSTEMS, RAYTHEON, SOFRADIR SAS

IR & thermal imaging are gradually developing into an established system that generates detailed spatial information about temperature distribution and its characteristics. Over the years, advancements in IR & thermal imaging systems and their enabling technologies have penetrated into different verticals, like aerospace & defense, thermography, security and surveillance, NDT, and others. This increases the scope of the IR & thermal imaging technology market. The technology is primarily being used in the aerospace & defense sector, allowing the mapping of objects and landscapes in a wide range of scales, with greater accuracy, precision, and flexibility. Encouragement from the government sector in automation, and adoption of IRT systems to various government sector activities, like flood relief and management, firefighting applications, and the homeland security sector, also results in positive growth of the industry.

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Growing Demand for Military Modernization Programs Drives the Market
Globally, there has been an increase in instability and in the incidences violent crimes across different regions. There is an increasing trend of cross-border terrorism across provinces. Many countries face insurgency issues, across the border from their neighboring countries. Also, the new dimensions of terrorism cause great loss to several government and non-governmental organizations. These factors augment the need for modernization programs of the military equipment to maintain deterrent capabilities. These factors boost the market for advanced technologies, like IR & thermal imaging systems. Further, in the United States, the Department of Defense has made significant investments in the development of advanced wearable technologies, incorporated with lightweight sensors, actuators, and GPS. This can be attributed to new inventions in the defense sector, which can bring an exponential change in the market.

Key Developments in the Market
• February 2017 - FLIR launched new generation of advanced thermal imaging cameras for electro-mechanical, plant, and building professionals. The company’s completely redesigned exx-series offers - intelligent interchangeable lenses, laser-assisted autofocus, higher resolutions, and a larger, brighter touchscreen.
• February 2017 - Elbit Systems Ltd. was awarded an approximately USD 110 million contract, from an Asia-Pacific country, for the upgrade and maintenance of dozens of Mi-17 helicopters. The project will be performed over a five-year period.
• January 2017 - L3 Technologies announced that it completed its acquisition of the explosives trace detection (ETD) business of Implant Sciences Corporation (Implant), and it was funded with cash on hand.
• January 2017 - The firm was awarded two contracts from Rafael Advanced Defense Systems Ltd, for the supply of airborne laser designators, in a total value of approximately USD 35 million. The contracts will be performed over a three-year period, and systems will be supplied by Rafael to two countries in the Asia-Pacific region.

Major Players:
FLIR SYSTEMS, L-3 COMMUNICATIONS HOLDINGS, ULIS SAS, LOCKHEED MARTIN, BAE SYSTEMS PLC, DRS TECHNOLOGIES INC., ELBIT SYSTEMS LTD, RAYTHEON CO., SOFRADIR SAS, THERMOTEKNIX SYSTEMS LTD, amongs

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Uncooled Segment Dominates the Market Landscape
Uncooled IR cameras come with a common detector, which is designed based on the microbolometer, a tiny vanadium oxide resistor, with large temperature coefficient of a silicon element. Uncooled infrared cameras do not have cryogenic cooling system. The principle of uncooled IR cameras is where smallest changes in scene temperature can cause changes in the bolometer temperature sensing device, which are again converted to electrical signals to process into an image. These devices are designed to work in the long wave infrared (LWIR) band, where terrestrial temperature targets emit most of their infrared energy. Uncooled cameras come with less moving parts, and these factors tend to have a much longer service life compared to cooled cameras, under similar operating environments.

North America to Dominate the Market
North America is the largest market for IR & thermal imaging systems. The United States is the major shareholder in the North American region. In Canada, where the market was relatively stable during the recessionary period, the gains are more visible.
There have been a series of new product launches and mergers and acquisitions in North America, to take the advantage of the recent opportunities in this market. The major driver behind the investments is the continuous evolution and application of new technologies, to unlock enormous volumes that were previously considered non-commercial. With these series of investments, industrial and transportation security and surveillance systems applications in North America are set to boom over the next five years. North America is the largest market for IR & thermal imaging systems. The United States is the major shareholder in the North American region.

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