Austin, Nov. 21, 2024 (GLOBE NEWSWIRE) -- Market Size & Growth Analysis:
The SNS Insider report indicates that, “The Infrared Imaging Market Size was valued at USD 7.03 Billion in 2023 and is projected to reach USD 12.36 Billion by 2032, growing at a CAGR of 6.5% over the forecast period 2024-2032.”
Infrared Imaging Fuels Growth Across Healthcare and Defense
Infrared imaging is driving significant growth in the healthcare industry due to its increasing use in non-invasive diagnostic applications like thermography. This technology aids in detecting inflammation, tumors, and circulatory issues, promoting early disease identification and improving patient outcomes. In the defense sector, infrared imaging plays a critical role in surveillance, reconnaissance, and target acquisition, enhancing operational efficiency, particularly in low-light conditions. Rising geopolitical tensions and increasing defense budgets globally have spurred demand for advanced infrared systems.
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Advancing Military Applications Drive Growth in Infrared Imaging Technology
Infrared imaging is integral to military and defense operations, particularly for night surveillance and targeting missions. Technologies like night vision goggles, missile guidance systems, and Forward-Looking Infrared (FLIR) scanners are widely utilized. The growing defense sector is driving advancements in infrared imaging globally. For instance, LightPath Technologies secured a USD 2.5 million contract to supply advanced infrared optics for a key military program enhancing imaging and threat detection capabilities. Additionally, L3Harris Technologies invested USD 110 million in a new facility in Waterdown, Canada, to produce WESCAM MX-Series electro-optical and infrared systems, highlighting the increasing demand for cutting-edge IR technologies across air, land, and sea platforms.
Dominant Market Players with their Products Listed in this Report are:
- FLIR Systems Inc. (FLIR One, FLIR T-Series)
- Raytheon Technologies Corporation (AN/AAS-52 Infrared Targeting System, FLIR Systems)
- Leonardo S.p.A. (Gabbiano TS, Mira)
- L3Harris Technologies, Inc. (MX-Series, WESCAM)
- Thales Group (Ground Master Radar, RBE2 Radar)
- Northrop Grumman Corporation (AN/AAQ-28(V) LITENING Pod, Firebird)
- Bae Systems (A-10 Warthog Infrared System, Infrared Imaging Systems)
- Teledyne Technologies Incorporated (Teledyne FLIR, Teledyne Imaging)
- Opgal Optronic Industries Ltd. (ThermoVision, SkyWatcher)
- HGH Systèmes Infrarouges (SPYNEL, CYCLOPE)
- Optics 1, Inc. (Infrared Night Vision Devices, MMR)
- Sierra-Olympic Technologies, Inc. (VisiSight, Viper HD)
- Wavelength Opto-Electronic (QWIP, LWIR Imaging Systems)
- San Juan Optics, LLC (Products: Custom Infrared Optics, Imaging Systems)
- SensIR Technologies (Portable Infrared Cameras, IR Thermometers)
- Raptor Scientific (High-Performance Infrared Cameras, Spectral Imaging Systems)
- AeroVironment, Inc. (Raven, Puma 3)
- Mikron Infrared (MI Series Infrared Thermometers, NIR Systems)
- Inframetrics, Inc. (IR Windows, Thermal Imaging Cameras)
- Sierra Instruments (Infrared Analyzers, Gas Analyzers)
Infrared Imaging Market: Uncooled Technology and LWIR Lead While SWIR Emerges as a High-Growth Segment
By Technology Type
The Uncooled Infrared Imaging segment dominates the infrared imaging market and is expected to grow at the highest CAGR of 6.71% from 2024 to 2032. Its affordability, compact design, and ease of use make it ideal for applications like security, surveillance, and industrial site monitoring.
The Cooled Infrared Imaging segment also holds a significant market share due to its cryogenic cooling technology, which reduces sensor noise for clearer images. Increasing demand for thermal imaging in CCTV environments is set to drive further growth in this segment.
By Wavelength Type
The Long-Wave Infrared (LWIR) segment leads the market, projected to hold a 32% share during the forecast period due to its extensive use in surveillance, homeland security, object detection, and various scientific and industrial applications. LWIR operates within an 8 to 14-micron wavelength range.
The Short-Wave Infrared (SWIR) segment is anticipated to grow at the highest CAGR from 2024 to 2032, driven by increasing adoption in quality control and product inspection. SWIR, with a wavelength range of 1.4 to 3 microns, excels in challenging environments by providing superior imaging beyond the visible spectrum.
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Key Market Segments:
By Vertical Type
- Aerospace & Defense
- Automotive
- Healthcare
- Industrial
- Others
By Application Type
- Security & Surveillance
- Monitoring & Inspection
- Detection
By Wavelength Type
- Near-Infrared
- Short-Wave Infrared (SWIR)
- Mid-Wave Infrared (MWIR)
- Long-Wave Infrared (LWIR)
- Others
By Technology Type
- Cooled Infrared Imaging
- Uncooled Infrared Imaging
Regional Dynamics in the Infrared Camera Market as North America Leads and Asia Pacific Emerges as a Rapid Growth Hub
North America dominated the infrared camera market with a 36% share, driven by the presence of major OEMs and continuous mergers and acquisitions. For example, Teledyne Technologies, a U.S.-based company specializing in digital imaging and instrumentation, acquired FLIR Systems in a deal valued at approximately USD 8.2 billion. This acquisition bolstered Teledyne's capabilities and expanded its geographic reach within the North American market. FLIR Systems, another U.S.-based leader in thermal imaging cameras and sensors, further strengthened the region's market position.
Asia Pacific represents one of the largest and fastest-growing markets for infrared cameras. This growth is fueled by rapid industrialization, infrastructure development, and increased demand from manufacturing and construction sectors in countries like China, Japan, India, and South Korea. Rising military expenditures in Asia, highlighted by nations such as China and India, have also driven demand.
Russia remaining its largest supplier, though accounting for just 36% of imports during this period. The USA, which became Asia’s largest arms supplier for the first time in 25 years, captured 34% of the region’s arms imports, further emphasizing the strategic importance of military applications in infrared camera market growth.
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Recent Development
- October 15, 2024: L3Harris integrates WESCAM MX-20 EO/IR system with Palantir’s Sensor Inference Platform (SIP). The integration enhances decision-making with advanced object detection and tracking capabilities for fixed-wing aircraft in complex environments.
- October 9, 2024: Thales has been awarded a contract to supply Sophie Ultima long-range handheld thermal imagers to the Canadian Army as part of the Night Vision Systems Modernization project.
Table of Contents - Key Points Analysis
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
5.1 Wafer Production Volumes, by Region (2023)
5.2 Chip Design Trends (Historic and Future)
5.3 Fab Capacity Utilization (2023)
5.4 Supply Chain Metrics
6. Competitive Landscape
7. Infrared Imaging Market Segmentation, by Vertical Type
8. Infrared Imaging Market Segmentation, by Application Type
9. Infrared Imaging Market Segmentation, by Wavelength Type
10. Infrared Imaging Market Segmentation, by Technology Type
11. Regional Analysis
12. Company Profiles
13. Use Cases and Best Practices
14. Conclusion
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