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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).
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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-
Fortune Business Insights™ provides a list of all the companies operating in the thermal imaging market. They are as follows:
Further Report Findings-
The thermal imaging market can be segmented in the following way:
Value (USD billion)