Thermal Imaging Technologies Market is Expected to Reach USD 5.13 billion by 2028 | Top Players: BAE Systems, Raytheon Company, Lockheed Martin among Others

According to the report, the global thermal imaging technologies market is projected to reach USD 5.13 billion by 2028, growing at a CAGR of 5.1% during the forecast period.

A recent report published by QMI on thermal imaging technologies market is a detailed assessment of the most important market dynamics. After carrying out thorough research of thermal imaging technologies market historical as well as current growth parameters, business expectations for growth are obtained with utmost precision. The study identifies specific and important factors affecting the market for thermal imaging technologies during the forecast period. It can enable manufacturers of thermal imaging technologies to change their production and marketing strategies in order to envisage maximum growth.

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Thermal imaging helps in improving visibility by detecting the objects' infrared radiations and creating an image based on that information. Over the years, advancements in thermal imaging systems and their enabling technologies have penetrated different verticals, like Aerospace and Defense, Thermography, Security and Surveillance, NDT, and others. This is increasing the scope of the thermal imaging technologies market. Based on the application, the security & surveillance segment is expected to dominate the thermal imaging technologies market during the forecast period.

Important Factors Impacting the Growth of Thermal Imaging Technologies Market:

o Reduction in the price of thermal imaging products.
o Increasing adoption of thermal imaging in perimeter security.
o Penetration in machine vision-based applications.
o Longwave infrared cameras require additional cameras for better detailing.
o Use of thermal imaging in autonomous vehicles.

Significant Developments in the Thermal Imaging Technologies Market:

o In June 2018, Thales S.A. (France) introduced Sophie Ultima, a thermal imager designed to give tactical superiority through collaborative and augmented imaging capability at night and by the day. It is a lightweight four in one thermal imager combining tactical binoculars, infrared target locator, daytime laser rangefinder, and teleconverter.
o In March 2019, FLIR Systems Inc. (US) announced the acquisition of Endeavor Robotic Holdings Inc. (US), a leading developer of tried and tested unmanned tactical ground vehicles (UGVs) for worldwide military, government security and critical infrastructure markets. FLIR will be leveraging its thermal imaging and adjacent technologies to provide innovative, intelligent solutions for the new segments of the acquisition.

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Insights about regional distribution of market:
The market has been segmented in major regions to understand the global development and demand patterns of this market.

For thermal imaging technologies market, the segments by region are for North America, Asia Pacific, Western Europe, Eastern Europe, Middle East, and Rest of the World. During the forecast period, North America, Asia Pacific and Western Europe are expected to be major regions on the thermal imaging technologies market.

North America and Western Europe have been one of the key regions with technological advancements in ICT, electronics & semiconductor sector. Factors like the use of advanced technology and presence of global companies to cater the potential end users are favourable for the growth of thermal imaging technologies market. Also, most of the leading companies have headquarters in these regions.

Asia Pacific is estimated to be one of the fastest growing markets for thermal imaging technologies market. Major countries in the Asia Pacific region are China, Japan, South Korea, India and Australia. These economies in the APAC region are major contributors in the ICT, electronics & semiconductor sector. In addition to this, government initiatives to promote technological advancement in this region are also one of the key factors to the growth of thermal imaging technologies market. Middle East and rest of the World are estimated to be emerging regions for thermal imaging technologies market.

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Major Companies profiled in the report which are key players in the global thermal imaging technologies market are Flir Systems Inc., Technologies, Inc., Ulis S.A.S., Elbit Systems Ltd, Raytheon Company, Lockheed Martin, Fluke Corporation, BAE Systems PLC, Leonardo DRS, Inc., Sofradir SAS, Thermoteknix Systems Ltd, and Testo SE & Co. KGaA

This report shows the volume of sales, revenue (US$ million), product quality, market share and growth rate of each form. The Global thermal imaging technologies market report monitors the size of demand for key product types and applications patterns that affect the sales shares of different products in key regions. The thermal imaging technologies market report provides insights into the revenues and volumes generated by key end-users. The study provides an analysis of goods that attracted significant investments from existing players and new entrants.

Market Segmentation:

By Technology:
o Cooled
o Uncooled

By Form Factor:
o Handheld
o Fixed Mounted

By Application:
o Industrial
o Security & Surveillance
o Thermography
o Consumer Electronics
o Transportation
o Others

By Region:

North America
o By Country (US, Canada, Mexico)
o By Technology
o By Form Factor
o By Application

Western Europe:
o By Country (Germany, UK, France, Spain, Rest of Western Europe)
o By Technology
o By Form Factor
o By Application

Eastern Europe:
o By Country (Russia, Turkey, Rest of Eastern Europe)
o By Technology
o By Form Factor
o By Application

Asia Pacific
o By Country (China, Japan, India, Rest of Asia Pacific)
o By Technology
o By Form Factor
o By Application

Middle East:
o By Country (UAE, Qatar, Iran, Saudi Arabia, Rest of Middle East)
o By Technology
o By Form Factor
o By Application

Rest of the World
o By Region (South America, Africa)
o By Technology
o By Form Factor
o By Application

Reasons to Buy This Report:
o Market size estimation of the global thermal imaging technologies market on a regional and global basis.
o The unique research design for market size estimation and forecast.
o Profiling of major companies operating in the thermal imaging technologies market with key developments.
o Broad scope to cover all the possible segments helping every stakeholder in the thermal imaging technologies market.

Customization:
We provide customization of the study to meet specific requirements:
o By Segment
o By Sub-segment
o By Region/Country

Contact:

Quince Market Insights
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This release was published on openPR.