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Thermal Imaging Market to Showcase 6.0% CAGR by 2026; Rising Demand from Search & Rescue Operation Teams to Spur Growth

April 07, 2020 | Information & Technology

The global thermal imaging market size is projected to reach USD 5.16 billion by 2026. It is anticipated to gain traction from their integration into drones. Such specialized drones aid in detecting human beings and objects even in complete darkness. Apart from that, they are capable of measuring and reading the temperature of the objects and provide the same data to the users in the forms of videos and images. They are mainly used by search and rescue teams for exploring the untapped zones. They are proving to be very beneficial for searching for missing people across the world.


The above-mentioned information is provided by Fortune Business Insights™ in a recently published report, titled, “Thermal Imaging Market Size, Share and Industry Analysis, By Technology (Cooled and Uncooled), By Product (Thermal Camera, Thermal Scopes and Thermal Module), By Wavelength (Shortwave Infrared (SWIR), Midwave Infrared (MWIR) and Longwave Infrared (LWIR)), By Application (Security and Surveillance, Monitoring and Inspection, and Detection and Measurement), By Vertical (Aerospace and Defence, Law Enforcement, Healthcare, Automotive, Oil and Gas, Residential, Manufacturing, and Others), and Regional Forecast 2019-2026.” The report further mentions that the market stood at USD 3.24 billion in 2018. However, it would showcase a CAGR of 6.0% during the forecast period between 2019 to 2026.


FLIT Systems & ANSYS Team Up to Enhance Thermal Camera Machine Learning


In January 2020, FLIR Systems, Inc., a commercial company specializing in the design and production of thermal imaging cameras headquartered in Oregon, announced its collaboration with ANSYS, Inc., a developer and marketer of multiphysics engineering simulation software based in Pennsylvania. The main aim of this partnership is to provide high-quality, robust hazard detection capabilities for assisted driving and autonomous vehicles (AVs). It would empower automakers in providing ground-breaking vehicle safety.


It would further help in integrating ANSYS’ leading-edge driving simulator into FLIR’s fully physics-based thermal sensor for validating, testing, and modelling thermal camera designs within a virtual world. This unique solution would cut off the time of the original equipment manufacturers (OEMs) by refining thermal camera placement for usage with various tools, namely, future AVs, pedestrian detection, and automatic emergency braking (AEB).


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/thermal-imaging-market-102588


Rising Usage in Spy Planes for Monitoring Enemy Forces to Accelerate Growth


Nowadays, thermal imaging is used considerably in spy planes to examine suspicious activities and enemy forces with the help of satellite imaging. These planes consist of airborne surveillance systems that are equipped with high-quality cameras. Such activities have significantly diminished the risks of flying at night and in low light conditions. Apart from that, it is used to analyze the mechanical and thermal behavior of test specimens to enable safety standards in the components and materials.


Furthermore, thermal imaging finds its usage in the defence sector, including air force, navy, and army. This is attributable to its ability of performing in an excellent manner in all weather conditions. It is also used in applications, such as collision avoidance systems and ship guidance systems. Ongoing technological developments in the aerospace and defence sector would also contribute to the thermal imaging systems market growth in the coming years.


Key Players Aim to Boost Sales by Developing High-tech Products  


The market consists of numerous big, medium, and small organizations that are striving persistently to research about the current thermal imaging industry trends. They are unveiling upgraded versions of modules, scopes, and cameras at a low cost. These products are improving operational efficiency. These efforts are not only aiding them in increasing sales, but are also expanding their geographic presence.


Some of the Notable Industry Developments-



  • September 2019: Lynred, a designer and manufacturer of infrared detectors for commercial, space, and military applications headquartered in France, received an order from ADE Technology, a Taiwan-based organization, to provide integrate infrared detectors. ADE would use these detectors for evaluating elderly people. It will be equipped with thermal imagery that can display and monitor real-time data on crucial signs when caring for animals and humans.

  • April 2018: Leonardo S.p.A. introduced its latest uncooled 10-micron thermal camera core called Tenum™ 640 thermal imager. It is best suited for security and surveillance applications, personal vision systems for outdoor sporting, hazmat operations and agri-business, as well as aerial and ground unmanned platforms for first responders. It can also be used by the military for a wide range of applications.


Fortune Business Insights™ provides a list of all the companies operating in the thermal imaging market. They are as follows:



  • BAE Systems (UK)

  • Workswell (Czech Republic)

  • Fluke Corporation (US)

  • Testo SE & Co. KGaA (Germany)

  • FLIR Systems, Inc. (US)

  • Seek Thermal (US)

  • L3Harris Technologies, Inc. (US)

  • Leonardo S.p.A. (Italy)

  • Thermoteknix Systems Ltd (UK)

  • Axis Communications AB (Sweden)

  • DALI Technology (China)

  • Opgal (Israel)

  • Lynred (France)

  • Other key market players


Further Report Findings-



  • North America held USD 1.06 billion thermal imaging market revenue in 2018 and is set to lead backed by the rising number of state-of-the-art product launches by key players.

  • Asia Pacific to experience healthy growth owing to the development of automotive industry in India and Japan.

  • In terms of vertical, the healthcare segment generated 9.5% thermal imaging market share in 2018 fueled by increasing inclination of physicians towards cameras for detecting diseases.


The thermal imaging market can be segmented in the following way:

















































 ATTRIBUTE



 DETAILS



Study Period



  2015-2026



Base Year



  2018



Forecast Period



  2019-2026



Historical Period



  2015-2017



Unit



  Value (USD billion)



Segmentation



By Technology



  • Cooled

  • Uncooled



By Product



  • Thermal Camera

  • Thermal Scopes

  • Thermal Module



By Wavelength



  • Shortwave Infrared (SWIR)

  • Midwave Infrared (MWIR)

  • Longwave Infrared (LWIR)



By Application



  • Security and Surveillance

  • Monitoring and Inspection

  • Detection and Measurement



By Vertical



  • Aerospace and Defence

  • Law Enforcement

  • Healthcare

  • Automotive

  • Oil and Gas

  • Residential

  • Manufacturing

  • Others



By Region



  • North America (US and Canada)

  • Europe (UK, Germany, France, Russia, and Rest of Europe)

  • Asia Pacific (China, Japan, India, Southeast Asia and Rest of Asia Pacific)

  • Middle East & Africa (GCC, South Africa and Rest of the Middle East & Africa)

  • Latin America (Mexico, Brazil and Rest of Latin America)


Thermal Imaging Market
  • PDF
  • 2018
  • 2015-2017
  • 180

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  • 4850
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    8850

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