The rising demand for infrared cameras in quality control and inspection application is expected to foster healthy growth of the market, states Fortune Business Insights in a report, titled “Infrared Imaging Market Size, Share & Industry Analysis, By Technology (Cooled Infrared Imaging, Uncooled Infrared Imaging), By Wavelength (Near-Infrared, Shortwave Infrared, Mid-wave Infrared, Long-wave Infrared), By Application (Security and Surveillance, Monitoring and Inspection), By Vertical (Industrial, Nonindustrial) and Regional Forecast, 2022-2029.” The increasing popularity of uncooled infrared cameras is expected to spur business Opportunities for the market in the forthcoming years.
Russia-Ukraine War Implication
The Russia-Ukraine war could change the market dynamics of Europe forever. The standoff has revived the predicament situation of the Cold War and pushed Europe to the brink of a major military conflict. The Russian aggression in Ukraine has redefined the global landscape in terms of business. As the global market was recuperating from the havoc wreaked by the COVID-19 pandemic, the Russia-Ukraine war has made several industry stakeholders skeptical.
There is hardly any sector that the war has left untouched, especially aggravating the business landscape of sectors ranging from aerospace to oil & gas. Amidst prevailing challenges, stakeholders are gearing to turn adversities into opportunities. However, soaring military aid for Ukraine could provide impetus to stakeholders. Meanwhile, it is to be noted that the relevant sanction could augment operating costs and disrupt industries.
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Infrared Imaging Market to Bloom Greatly; Rising Admiration of Uncooled Infrared Cameras to Augment Growth
The Report Lists the Key Companies in the Infrared Imaging Market:
- Cox (South Korea)
- C-THERMAL (Austria)
- DALI Technology (China)
- FLIR Systems, Inc. (The U.S.)
- Fluke (The U.S.)
- Sensors Unlimited (The U.S.)
- Episenorsa (Ireland)
- IRCameras LLC (The U.S.)
- L3Harris Technologies, Inc. (The U.S.)
- Princeton Instruments, Inc. (The U.S.)
- Raptor Photonics (The U.K.)
- Tonbo Imaging (The U.S.)
The COVID-19 occurrence has affected various businesses across different sectors. We understand that this health disaster has negatively impacted various sectors across the globe. Rising support from governments and several companies can help in the fight against this highly infectious virus. There are some industries that are struggling and some are thriving. More or less, nearly every sector is estimated to be impacted by this pandemic. We are making endless efforts to uplift businesses in this crucial need of the hour. Our expertise and experience can offer enormous benefits to help regain during this global pandemic.
To Progress Gradually; Heavy Demand from the Military Sector to Spur Opportunities
Agreement between DRS and Raytheon to Promote Growth
DRS Network & Imaging Systems LLC, a major leader in communications and weapons systems announced that it has signed a contract worth USD 79.3 million with Raytheon Co to develop infrared system parts for a system that will assist pilots to analyse air paths in harsh weather conditions. The joint venture between the companies is expected to boost the revenue of the market, in turn, accelerating opportunities for the market. Furthermore, the growing demand for infrared cameras in the consumer electronics industry is expected to bolster the healthy growth of the market during the forecast period. The technologically advanced Infrared Imaging technology can produce images that cannot be seen through the naked eye. Likewise, the technology works at an electromagnetic spectrum of 9,000 to 14,000 nanometers (nm). The growing demand for infrared imaging cameras at airports, especially in the time of coronavirus pandemic is expected to favor the healthy growth of the market. For instance, the camera can recognize and identify passengers with high body temperatures. However, the stringent Import and export regulations
Rising Defense Expenditure to Contribute Growth in the Asia Pacific
Geographically, the infrared imaging market is categorized into North America, Europe, Asia Pacific, and the Rest of the World. The market is expected to account for the largest share in the global market owing to the existing industry players in the U.S such as IRCameras LLC, L3Harris Technologies, Inc., Princeton Instruments, Inc., and Tonbo Imaging. Asia Pacific is predicted to rise tremendously during the forecast period due to the increasing demand for infrared imaging technology from various sectors. The increasing defense budget and expenditure can be a vital factor fueling the demand for infrared cameras to detect any intrusions on bonders, which, in turn, will aid the expansion of the market. Europe is predicted to witness a rapid growth rate in the foreseeable future. The ongoing advancement in infrared imaging technology for the development of cost-effective solutions is expected to promote the growth of the market.
Infrared Imaging Market to Develop Exponentially; Flourishing Consumer Electronics Industry to Bode Well for the Market
Jan 2019: FLIR Systems, Inc. signed a contract worth USD 89 Million with French armed forces to provide the FLIR Black Hornet 3 nano-unmanned aerial vehicle (UAV) and Personal Reconnaissance System (PRS) to support French Armed Forces operations.
The report on the infrared imaging market explains:
- What methodologies are used by key players to Improve Business?
- What are the latest trends in the market?
- Which region dominates the market in terms of share?
- What will be the market scenario in the future?
- What are the different ways to improve market sales?
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