Future Outlook of Thermal Imaging Systems Market 2021 | Analysis by Top Key Players, Types, Applications, Product and Services Forecast till 2024

Thermal Imaging Systems

Thermal Imaging Systems Marketreport focuses on latest innovative marketing strategies, trends, leading players, supply chain trends, technological innovations, key developments, and future strategies. Thermal Imaging Systems market report includes comprehensive details of the key market dynamics along with relevant market segments and sub-segments.

Thermal Imaging Systems market report has provided a top-to-bottom research on the Thermal Imaging Systems market features such as growth drivers, threats, opportunities, challenges with a key focus on both global and the regional market. Moreover, Thermal Imaging Systems market report presents the market competitive landscape and a corresponding detailed analysis of the leading manufacturers in the market.

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Market Overview:

  • The thermal imaging systems market is expected to witness a CAGR of 7.78%, during the forecast period (2019 - 2024). Thermal imaging helps in improving visibility by detecting the objects’ infrared radiations and creating an image based on that information.
  • - Over the years, advancements in thermal imaging systems and their enabling technologies have penetrated different verticals, like Aerospace and Defense, Thermography, Security and Surveillance, NDT, and others. This is increasing the scope of the thermal imaging technology market.
  • - Rapid advancements in technology and money being pumped into aerospace and defense research and development (R&D) have brought its costs down substantially and also introduced the world to a smarter, efficient way of doing things.
  • - There is an increasing trend of cross-border terrorism across the provinces. There are many countries facing insurgency issues across the border from their neighboring countries. Hence, there has been a growing demand for military modernization programs includes improved thermal imaging systems requirements.
  • - However, the uncertainty of the defense budget and lack of awareness about the full capabilities and its application are the factors restricting the market growth.

    Global Thermal Imaging Systems market competition by top manufacturers, with production, price, and revenue (value) and market share for each manufacturer; the top players including-

  • Flir Systems Inc.
  • L3 Technologies
  • Inc.
  • Ulis S.A.S.
  • Elbit Systems Ltd
  • Raytheon Company
  • Lockheed Martin
  • Fluke Corporation
  • BAE Systems PLC
  • Leonardo DRS
  • Inc.
  • Sofradir SAS
  • Thermoteknix Systems Ltd
  • Testo SE & Co. KGaA

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    Key Market Trends:

    Security and Surveillance to Occupy a Major Share

    - Globally, there is a growing trend of rising crimes and violence; this has raised the budgets of the homeland security forces to procure the advance protective systems and gadgets. Modern warfare has become more asymmetric with an increasing number of non-lethal and lethal weapons.
    - The ongoing battles with ISIS conflict in the Middle East, Indo-Pak conflict over Jammu and Kashmir, Syrian war are just a few examples. Also, increasing tensions across borders and between countries have led to an increase in the demand for IR and thermal imaging long-range surveillance in low-light conditions.
    - According to SIPRI, the world military expenditure has reached USD 1.8 trillion in 2018, which is 2.6% higher than the previous year and 5.6% higher than in 2009. The rise in the military modernization program includes the application of thermal imaging systems.
    - Terrorist attacks have been seen increasing for damaging critical infrastructure in many countries. To avoid such incidences the governments are investing for stringent surveillance with infrared and thermal imaging security systems.

    North America to Hold the Largest Market Share

    - The major driver behind the investments has been the continuous evolution and application of new technologies to unlock enormous volumes that were previously considered non-commercial. With these series of investments, industrial, transportation, security, and surveillance systems applications in North America is set to boom during the next five years.
    - As ADAS (Advances Driving Assistance Vehicle) and AV (Autonomous Vehicle) platforms to become the future of the automotive industry, research has shown that equipping thermal imaging system will make the autonomous driving safer. Also, the declining production cost of thermal imaging systems with mass manufacturing will create the demand for thermal imaging systems in the recent future.
    - Market leading companies such as DRS technologies, PixonImaging, and FLIR situated in North America. FLIR has invested 10% of its revenue on research and development in FY2018. It’s primary research and development includes the project of a thermal imaging system for autonomous vehicles

    What are the market factors that are explained in the report?

    -Key Developments: Thermal Imaging Systems market report includes the key strategic developments of the market, new product launch, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market.

    -Market Features: Thermal Imaging Systems market report estimated key market structures, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin.

    -Logical Tools: Global Thermal Imaging Systems market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return examination have been used to analyze the growth of the key players operating in the market.

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    Detailed TOC of Thermal Imaging Systems Market – Segmented by Geography – Growth, Trend, and Forecast:

    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study



    4.1 Market Overview
    4.2 Market Drivers
    4.2.1 Growing Demand for Military Modernization Programs
    4.2.2 Increasing Adoption of Thermal Imaging in Perimeter Security
    4.3 Market Restraints
    4.3.1 Defense Budget is in a State of Flux
    4.3.2 Lack of Awareness About Benefits of Thermographic Inspection
    4.4 Value Chain Analysis
    4.5 Industry Attractiveness - Porter’s Five Force Analysis
    4.5.1 Threat of New Entrants
    4.5.2 Bargaining Power of Buyers/Consumers
    4.5.3 Bargaining Power of Suppliers
    4.5.4 Threat of Substitute Products
    4.5.5 Intensity of Competitive Rivalry

    5.1 By Technology
    5.1.1 Cooled
    5.1.2 Uncooled
    5.2 By Form Factor
    5.2.1 Handheld Imaging Devices and Systems
    5.2.2 Fixed Mounted Systems
    5.3 By Application
    5.3.1 Industrial
    5.3.2 Security and Surveillance
    5.3.3 Thermography
    5.3.4 Consumer Electronics
    5.3.5 Transportation
    5.3.6 Other Applications
    5.4 Geography
    5.4.1 North America United States Canada
    5.4.2 Europe Germany United Kingdom France Rest of Europe
    5.4.3 Asia-Pacific China Japan India Rest of Asia-Pacific
    5.4.4 Latin America Brazil Mexico Argentina Rest of Latin America
    5.4.5 Middle East & Africa UAE Saudi Arabia South Africa Rest of Middle East & Africa

    6.1 Company Profiles
    6.1.1 Flir Systems Inc.
    6.1.2 L3 Technologies, Inc.
    6.1.3 Ulis S.A.S.
    6.1.4 Elbit Systems Ltd
    6.1.5 Raytheon Company
    6.1.6 Lockheed Martin
    6.1.7 Fluke Corporation
    6.1.8 BAE Systems PLC
    6.1.9 Leonardo DRS, Inc.
    6.1.10 Sofradir SAS
    6.1.11 Thermoteknix Systems Ltd
    6.1.12 Testo SE & Co. KGaA



    Contact Us:

    Name: Ajay More

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    Email: [email protected]

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