Press release
Government Investments Fueling Thermal Imaging Market In Aerospace And Defense: Key Factor Driving The Growth In The Thermal Imaging Market
Thermal Imaging
How Big Is the Thermal Imaging Market Size Expected to Be by 2034?
In recent years, the thermal imaging market has experienced rapid expansion. The size of this market is projected to increase from $7.57 billion in 2024 to $8.36 billion in 2025, indicating a compound annual growth rate (CAGR) of 10.4%. This growth in the past period is linked to various factors such as military and defense utilization, industrial inspections, assessments of buildings and infrastructure, law enforcement and public safety, as well as medical diagnosis.
In the forTH*Coming years, the thermal imaging market is projected to experience substantial growth, reaching $13.31 billion by 2029 with a 12.3% compound annual growth rate (CAGR). The anticipated increase during the forecasted period is credited to requirements for surveillance and security, expansion of infrastructure, response to emergencies and firefighting, health checks, and automotive safety. The major trends to observe during this period are emphasis on high-resolution thermal imaging for surveillance, use of thermal imaging in building and infrastructure assessments, advancement in thermal imaging for agriculture and ecological monitoring, application of thermal imaging in industrial proactive maintenance, and the creation of multi-spectral thermal imaging resolutions.
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What Are the Emerging Segments Within the Thermal Imaging Market?
The thermal imaging market covered in this report is segmented -
1) By Type: Thermal Cameras, Thermal Scopes, Thermal Modules
2) By Technology: Cooled, Uncooled
3) By Wavelength: Shortwave Infrared, Mid Wave Infrared, Long Wave Infrared
4) By Application: Thermography, Surveillance, Personal Vision Systems?, Fire Fighting?, Smartphones (Ruggedized), Other Applications
5) By Vertical: Aerospace And Defense, Law enforcement, HealTH*Care, Automotive, Oil And Gas, Residential, Manufacturing, Other Verticals
Subsegments:
1) By Thermal Cameras: Handheld Thermal Cameras, Fixed Thermal Cameras, Smart Thermal Cameras
2) By Thermal Scopes: Clip-on Thermal Scopes, Dedicated Thermal Scopes
3) By Thermal Modules: Uncooled Thermal Modules, Cooled Thermal Modules, OEM Thermal Modules
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What Long-Term Drivers Are Shaping Thermal Imaging Market Trends?
The growth of the thermal imaging market is majorly influenced by the escalating government spending in aerospace and defense industries. This technology is essential for surveillance and observation operations within these sectors that necessitate extra supervision. For instance, the Stockholm International Peace Research Institute, based in Sweden, reported in April 2024 that there was an increase in the total global military expenditure to $2,443 billion in 2023, a rise of 6.8 percent in real terms compared to 2022. The year saw the highest spenders being the United States, China, and Russia, who all increased their defense budgets. Hence, the escalated expenditure in the defense sector propels the thermal imaging market.
Who Are the Top Competitors in Key Thermal Imaging Market Segments?
Major companies operating in the thermal imaging market include RTX Corporation, Canon Inc., BAE Systems plc, L3HARRIS Technologies Inc., Hangzhou Hikvision Digital Technology Co Ltd., Zhejiang ULIRvision Technology Co Ltd., Leonardo S.p.A., Teledyne Technologies Incorporated, Sofradir SAS, FLIR Systems Inc., Axis Communications AB, Fluke Corporation, Jenoptik AG, Testo SE & Co KGaA, Wuhan Guide Sensmart Tech Co Ltd., Guide Infrared Co Ltd., Nippon Avionics Co Ltd., Thermoteknix Systems Ltd., InfraTec Infrared LLC, Xenics NV, Opgal Optronic Industries Ltd., Cantronic Systems Inc., Tonbo Imaging Pvt Ltd., MoviTHERM, New Imaging Technologies, Seek Thermal Inc., Argus Thermal Imaging Cameras
What Thermal Imaging Market Trends Are Gaining Traction Across Different Segments?
Technological progression is an emerging trend gaining traction in the thermal imaging market. Major firms in this sector are focused on innovating new technological methodologies to fortify their market standing. For instance, in July 2023, InfiRay, a company based in China that specializes in producing thermal imaging devices and solutions, introduced its cutting-edge thermal imaging technology. This includes infrared sensors, thermal imaging camera modules, night vision thermal cameras, and thermographic cameras for measuring temperature. The company's patented dual FOV objective lens allows for a smooth transition between a broad and narrow field of view, delivering unrivaled image resolution. This is complemented by a user-friendly interface, high-definition display, six hours of operational time, sturdy aluminum alloy casing, and a 32GB built-in memory.
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Which Regions Are Becoming Hubs for Thermal Imaging Market Innovation?
North America was the largest region in the thermal imaging market in 2024. The regions covered in the thermal imaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Thermal Imaging Market?
2. What is the CAGR expected in the Thermal Imaging Market?
3. What Are the Key Innovations Transforming the Thermal Imaging Industry?
4. Which Region Is Leading the Thermal Imaging Market?
Why This Report Matters:
Competitive overview: This report analyzes the competitive landscape of the 3D imaging software market, evaluating key players on market share, revenue, and growth factors.
Informed Decisions: Understand key strategies related to products, segmentation, and industry trends.
Efficient Research: Quickly identify market growth, leading players, and major segments.
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