The infrared and thermal imaging systems market was estimated at US$ 3.3 billion in 2021 and is expected to grow at a CAGR of 9.1% during 2022-2028 to reach US$ ~5.9 billion in 2028.
Due to several military applications, the market for infrared (IR) and thermal imaging equipment is expanding significantly on a global scale. Systems using infrared and thermal imaging make it possible to find things and people in the dark when there is no ambient light. Additionally, smoke, fog, and haze may be penetrated by infrared and thermal imaging devices to produce real-time, high-resolution images. Modern technology is used by infrared and thermal imaging systems to detect heat or infrared signatures even at extreme temperatures. Additionally, infrared and thermal imaging systems are utilized for a wide range of purposes, including surveillance, space imaging, and remote sensing, among others.
Due to a lockdown enforced by the government to stop the spread of COVID-19, makers of infrared and thermal imaging systems are compelled to cease manufacturing. Due to the interruption in the supply chain brought on by government measures to contain the COVID-19 epidemic, military agencies are experiencing delays in the acquisition of infrared and thermal imaging systems. Due to the COVID-19 epidemic, governments all around the world are prioritizing healthcare services, which is putting a burden on military organisations' budgets. The labor shortage brought on by the travel restrictions implemented by countries throughout the world to stop the spread of COVID-19 has a negative impact on research and development of infrared and thermal imaging systems.
IR and thermal imaging devices were initially used in the military and in defence. Future growth in IR and thermal imaging system adoption is anticipated as a result of the military industry's increasing spending in surveillance. Governments all across the globe are spending money to upgrade next-generation technology in the military by giving military personnel better and more accurate information. As IR thermography equipment have become more widely used in the military industry, this has had an influence on the proliferation of infrared cameras, particularly short-wavelength ones. Violence and criminality are on the rise everywhere in the world. This has increased the funding for the homeland security forces to purchase cutting-edge protection systems and technology. With more lethal and non-lethal weaponry available, modern combat has grown increasingly asymmetrical.
The drivers driving the worldwide infrared & thermal imaging systems market include an increase in military spending, an increase in demand for high-definition thermal imaging technology, and an increase in the adoption of military modernization projects. However, the market's expansion is hampered by expensive equipment and strict regulations on technology transfer. The employment of thermal scanners at airports, geospatial analysis, and the integration of artificial intelligence into imaging systems, on the other hand, open up new doors for the sector.
To get a competitive advantage over rivals, the majority of businesses are eager to create a better IR camera that can deliver comprehensive infrared data. For instance, Telops unveiled a high-speed infrared camera with more than 1 Gigapixels of maximum data throughput. The infrared camera can capture pictures at 1900 frames per second in full resolution and up to 90,000 frames per second in sub-window mode (64 x 4 pixels.). In Canada, there has been a strong uptake of autonomous vehicles. Additionally, businesses like Uber have been testing driverless technology in the cities of Pittsburgh, Pennsylvania, and Phoenix, Arizona.
Several investments/guidelines in the industry have been directed in recent years, which would boost the overall market. Some of them are:
- For battlefield combat dominance, military organisations are investing on sensor technology carried by soldiers. The US Army has granted FLIR System Inc., an Oregon, US-based maker of thermal imaging systems, a 20.6 million USD contract for the delivery of the Black Hornet 3 nano UAV, a personal reconnaissance system. For improved surveillance, Black Hornet uses fused thermal imaging, which combines thermal photos with the visible image. Furthermore, it has a 25-minute flying duration and provides live video to the operator. The market for infrared and thermal imaging systems will be driven by such expenditures in thermal military weapons.
- All-weather day-and-night surveillance and imaging systems are made possible by thermal imaging technology. Ranger HDC MR, a new high-definition mid-range surveillance system that makes use of medium-wave infrared, was recently released by FLIR Systems Inc. in 2020. (MWIR). With a 1280 by 720 pixel detector, the Ranger HDC MR is a high-performance HD thermal imaging system that can see through heat, haze, fog, and air turbulence. This high-definition IR and thermal imaging technology will also be utilised for counter-UAV measures and border surveillance to look for unlawful cross-border activity. The worldwide infrared & thermal imaging systems market is anticipated to grow as a result of such advancements in high-definition thermal imaging technologies.
