Handheld Thermal Imager Market Key Players, Industry Analysis, Potential Growth, Forecast To Reach $9.1 Bn by 2031

The global handheld thermal imager market generated $3.7 billion in 2021, and is projected to reach $9.1 billion by 2031, growing at a CAGR of 9.9% from 2022 to 2031.

Increase in adoption of thermal imaging for quality control & inspection, extensive use of thermal imager for safety & security, rise in defense expenditure, and surge in the use of thermal camera for diagnostics and maintenance are expected to drive the growth of the global handheld thermal imager market. Closed manufacturing facilities, shortage of materials, prevalence of trade restrictions, and supply chain disruptions during the pandemic hindered the global market.

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Thermal imager is essential for inspection of electronic devices during automotive maintenance. The use of various handheld infrared thermal imaging cameras in automotive overhaul enables more efficient, faster and more accurate vehicle diagnostics. It is used to reflect subtle structural defects with the help of temperature differences, providing diagnostic results. There is increase in demand for handheld thermal imager to detect faults in engine, air conditioning system, brake system and others. Moreover, handheld thermal imager is popularly used by the army and navy for border surveillance and law enforcement. Therefore, these factors are expected to drive the growth of the handheld thermal imager market during the forecast period.

There are prominent key factors that drive the growth of the handheld thermal imager market, such as increase in adoption of thermal imaging for quality control & inspection, and increase in use of thermal imager for safety & security. The market economy is also responsible for the growth of the market. Countries such as China, India, Brazil, and South Africa are developing economies. Thus, the manufacturing, automotive and defense sector exhibits prominent growth in these countries, which is expected to provide lucrative opportunities for the market. Also, in some undeveloped countries, there is an increase in the vehicle production and growth of aviation sector, which is expected to boost the handheld thermal imager market.

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The handheld thermal imager market is segmented basis of end use industry, product type, application, wavelength type and region. By end use industry, it is divided into defense, public safety, industrial, and others. By product type, it is bifurcated into cooled thermal imager, and uncooled thermal imager. By application, it is classified into security and surveillance, monitoring and inspection, and detection and measurement. By wavelength type, it is categorized into LWIR, MWIR, and SWIR. By region, the market is analyzed across North America, Europe, Asia-Pacific and LAMEA.

Based on region, the market across Asia-Pacific region held the dominating market share in 2021, holding more than one-third of the global market, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 10.6% during the forecast period. The report also analyses other regions such as North America, Europe, and LAMEA.

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The report analyzes these key players in the global handheld thermal imager market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance and operating segments by prominent players in the market.

The key players analyzed in the global handheld thermal imager market report include American Technologies Network Corporation, Axis Communications AB, BAE Systems Plc., Elbit Systems Ltd., Fluke Corporation, L3Harris Technologies, Inc., Leonardo S.p.A., Opgal Optronic Industries Ltd., Raytheon Technologies Corporation, Safran S.A., Seek Thermal Inc., Teledyne FLIR LLC, Testo SE & Co. KGaA, Thales Group, and Thermoteknix Systems Ltd.

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