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 Forecast, 2022-2029.” The increasing popularity of uncooled infrared cameras is expected to spur business Opportunities for the market in the forthcoming years.
This market document offers detailed research and analysis of key aspects of the market. The market analysts authoring this industry analysis report has provided profound information on leading growth drivers, restraints, challenges, trends, and opportunities to offer a complete analysis of the global market. The report highlights CAGR value fluctuations during the forecast period for the market. Market participants can use the analysis of market dynamics to plan effective growth strategies and prepare for future challenges beforehand. A range of key factors are analysed in the report, which will help buyer in studying the industry.
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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.)
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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
Regional Analysis:
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.
Key Development:
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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