IR and Thermal Imaging Systems Market Scope
Infrared (IR) and thermal imaging technology help to detect people and objects in complete darkness and in diverse conditions. IR and thermal imaging systems market has high growth prospects owing to increasing applications in the surveillance and security, transportation, military vehicle vision, thermography, and others. Further, increasing spending on military modernization program across the globe expected to drive the demand for IR and thermal imaging systems over the forecasted period.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Flir Systems Inc. (United States), Lockheed Martin (United States), Thales Group (France), Honeywell Aerospace (United States), Elbit Systems Ltd. (Israel), BAE Systems (United Kingdom), L-3 Communications Holdings Inc. (United States), Raytheon Company (United States), Fortive (United States) and ULIS (France) |
CAGR | % |
Leading global players are focusing on strategic partnerships to improve their products. In addition, companies are focusing on increasing their client base to strengthen market position and to enhance product offerings. Research Analyst at AMA estimates that United Kingdom Vendors will contribute to the maximum growth of Europe IR and Thermal Imaging Systems market throughout the predicted period.
Flir Systems Inc. (United States), Lockheed Martin (United States), Thales Group (France), Honeywell Aerospace (United States), Elbit Systems Ltd. (Israel), BAE Systems (United Kingdom), L-3 Communications Holdings Inc. (United States), Raytheon Company (United States), Fortive (United States) and ULIS (France) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Axis Communications (Sweden), Leonardo (Italy) and Thermoteknix Systems (United Kingdom).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Europe IR and Thermal Imaging Systems market by Type , by Application (Surveillance and Security, Transportation, Military Vehicle Vision, Thermography and Others) and Region with country level break-up.
On the basis of geography, the market of IR and Thermal Imaging Systems has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In May 2021,Teledyne Technologies Incorporated announced the successful completion of the acquisition of FLIR Systems, Inc. At each of the respective company’s special meeting of stockholders held on May 13, 2021, the stockholders approved and adopted merger proposals related to the Agreement and Plan of Merger dated January 4, 2021
In June 2022,Teledyne FLIR has announced the addition of an E52 camera to its range of Exx thermal Imaging devices which currently include the E96, E86, and E76 and E54 models.
Influencing Trend:
Emergence of High Definition Thermal Imaging Technology and Emphasizing On the Soldier Modernization Programs
Market Growth Drivers:
Rising Military Budgets Worldwide and Increasing Demand for IR and Thermal Imaging Systems for Surveillance and Security
Challenges:
Lack of Awareness in the Emerging Economies
Restraints:
Stringent Government Policies Regarding IR and Thermal Imaging Devices
Opportunities:
Growing Demand for Remote IR and Thermal Imaging Devices and Increasing Demand from the Developing Economies
Key Target Audience
Manufacture, Providers, Suppliers and Others