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Thermal Imaging Market

Thermal Imaging Market: Information by Application (Monitoring & Inspection, Detection & Others), Type, Vertical (Aerospace & Defence, Industrial) – Forecast Period Till 2026

Published At : 12 Apr, 2019
Updated At : 11 Jan, 2022
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Market Snapshot
Base Year:
2021
Study Period:
2016-2026
CAGR:
6.0 %
Fastest Growing Market:
North America
Largest Market:
Europe

Global Statistics Representing Thermal Imaging Market Scenario

Thermal imaging is a technique of improving visibility of objects in a dark environment by detecting infrared radiation effectively and creating an image based on the information. Thermal imaging light can penetrate through any medium such as smoke, fog and haze, and this characteristic makes a thermal imaging camera useful for all sort of applications, such as security, surveillance and for military. Thermal imagining technology provides clear images on a display system through electronic signals that process the information gathered by the thermal imaging camera.

The increasing need for thermal inspections and monitoring in army, navy and air force sectors has been driving market growth as thermal imagining technology is cable of functioning in all weather conditions and day as well as night conditions. In addition, increasing applications of this technology across several industries, low cost of thermal imaging cameras and low environmental impact are some of the other factors driving market growth, globally. Furthermore, recent developments in unmanned aerial vehicles (UAV) with thermal imaging are likely to provide impetus to market growth as they present new opportunities for wildlife experts to inexpensively survey relatively large areas for agricultural, environmental and wildlife monitoring applications. For example, unmanned aerial vehicles (UAV) with thermal imaging for wildlife management include monitoring sea turtles, black bears, large land mammals, marine mammals and birds.

The global thermal imaging market is expected to grow at a CAGR of 6.0% and reach a market size of USD 4.6 billion by the end of the forecast period.

Segmental Insight

The global thermal imaging market has been segmented on the basis of type, application and vertical.

On the basis of type, the market has been segmented into cameras, modules and scopes.

On the basis of application, the market has been segmented into security & surveillance, monitoring & inspection, detection and others.

On the basis of vertical, the market has been segmented into aerospace & defense, industrial, healthcare & life sciences.

Regional Analysis

North America is pegged to be a prominent region in the thermal imaging market with rapid growth of commercial and residential applications due to the declining prices of thermal cameras. In addition, the presence of thermal imaging manufacturers and R&D centres in this region is expected to boost market growth in years to come. FLIR Systems (US), Fortive, L3 Technologies and United Technologies are some of the major players contributing to market growth in North America. Growth in the region can also be attributed to the use of thermal imaging in the U.S military.

Europe is expected to register moderate growth during the forecast period, due to technological advancements and growing adoption of thermal imaging in various commercial and industrial applications. The increasing demand for security and surveillance is also projected to fuel market demand during the forecast period.

Asia Pacific is pegged to have significant demand for thermal imaging due to the increasing use of thermal imaging in the military sector. Also, increasing demand for smartphones with thermal imaging camera and their declining prices are some of the factors driving demand in Asia Pacific.

Latin America, Middle East and Africa are likely to witness considerable growth during the forecast period, which can be attributed to the low cost of thermal imaging products and services in the region.

Thermal Imaging Market: Prominent Players

  • FLIR Systems
  • Fortive
  • Axis Communications
  • Leonardo
  • BAE Systems
  • L3 Technologies
  • United Technologies
  • Sofradir
  • Testo
  • Xenics
  • Seek Thermal

Thermal Imaging Market Segmentation

By Type

  • Cameras
  • Modules
  • Scopes

By Application

By Vertical

  • Aerospace & Defense
  • Industrial
  • Healthcare & Life Sciences

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America and Middle East & Africa

Frequently Asked Questions (FAQs)

The global thermal imaging market is expected to grow at a CAGR of 6.0% and reach a market size of USD 4.6 billion by the end of the forecast period.

Thermal Imaging segment is expected to be leading segments in Thermal Market during the forecast period.
By the end of the forecast period, Global Thermal Imaging Market was valued at USD 4.6 billion.
The increasing need for thermal inspections and monitoring in army, navy and air force sectors has been driving market growth as thermal imagining technology is cable of functioning in all weather conditions and day as well as night conditions.
North America is expected to hold the highest market share in Thermal Imaging Market.

FLIR Systems, Fortive, Axis Communications, Leonardo, BAE Systems, L3 Technologies, United Technologies, Sofradir, Testo, Xenics, Seek Thermal is the top players in Thermal Imaging Market.

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Report Metric Details
Market Size USD in Billion By 2030
CAGR CAGR 6%
Historical Data 2019-2020
Base Year 2021
Forecast Period 2022-2030
Forecast Units Value (USD Million)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
Segments Covered by Application (Monitoring & Inspection, Detection & Others), Type, Vertical (Aerospace & Defence, Industrial)
Geographies Covered North America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/Vendors FLIR Systems, Fortive, Axis Communications, Leonardo, BAE Systems, L3 Technologies, United Technologies, Sofradir, Testo, Xenics, Seek Thermal
Key Market Opportunities High Demand In Aerospace And Defense Sector Is Pushing Thermal Imaging Market
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