Dublin, Jan. 10, 2024 (GLOBE NEWSWIRE) -- The "Cooled IR Camera Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global cooled IR camera market size reached US$ 293.3 Million in 2022. Looking forward, the analyst expects the market to reach US$ 597.8 Million by 2028, exhibiting a growth rate (CAGR) of 11.4% during 2023-2028. 
Cooled IR Camera Market Trends
The widespread product adoption in security and surveillance applications across the globe is creating a positive outlook for the market. In line with this, governments of various nations are introducing new technologies and strategies to ensure public safety and security due to the surge in terrorist attacks, antisocial behavior, and crime rates, which, in turn, is acting as another growth-inducing factor.
Additionally, the increasing product utilization in homeland security, perimeter surveillance, defense, and enforcement fields, as it offers enhanced features, such as superior aiming capabilities, excellent performance, and high reliability on the fields, is favoring the market growth.
Apart from this, the introduction of advanced cooled IR cameras that increase the thermal images' sensitivity and accuracy and provide better details on the target is providing an impetus to the market growth. Moreover, the increasing demand for cooled IR cameras over uncooled IR cameras due to their ability to efficiently perform spectral filtering to uncover details and take measurements is facilitating the market growth.
Other factors, including rising product demand in the military industry for continual and rigorous surveillance, rising expenditure capacities of consumers, and extensive research and development (R&D) activities, are anticipated to drive the market growth.
Key Market Segmentation
The report provides an analysis of the key trends in each sub-segment of the global cooled IR camera market report, along with forecasts at the global, regional and country level from 2023-2028. The report has categorized the market based on technology, distribution channel and end use.
Breakup by Technology:
- Indium Antimonide (InSb)
- Indium Gallium Arsenide (InGaAs)
- Mercury Cadmium Telluride (MCT)
- Others
Breakup by Distribution Channel:
- Direct
- Indirect
Breakup by End Use:
- Defense and Military
- Industrial
- Commercial Surveillance
- Automotive
- Others
Competitive Landscape
The competitive landscape of the industry has also been examined along with the profiles of the key players being:
- AIM Infrarot-Module GmbH
- Boston Electronics Corporation
- Hamamatsu Photonics K.K.
- InfraTec GmbH
- IRCameras LLC
- L3Harris Technologies Inc.
- Leonardo DRS (Leonardo S.p.A.)
- Lynred USA
- TBT Systems
- Teledyne FLIR LLC (Teledyne Technologies Incorporated)
- Xenics NV
Key Questions Answered in This Report:
- How has the global cooled IR camera market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global cooled IR camera market?
- What are the key regional markets?
- What is the breakup of the market based on the technology?
- What is the breakup of the market based on the distribution channel?
- What is the breakup of the market based on the end use?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global cooled IR camera market and who are the key players?
- What is the degree of competition in the industry?
Key Attributes
| Report Attribute | Details |
| No. of Pages | 141 |
| Forecast Period | 2022-2028 |
| Estimated Market Value (USD) in 2022 | $293.3 Million |
| Forecasted Market Value (USD) by 2028 | $597.8 Million |
| Compound Annual Growth Rate | 12.6% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/ng3d9y
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