Infrared and Thermal Imaging Systems Market

Technological Growth of Infrared and Thermal Imaging Systems Market in Industry

According to Anasbin T.P, research associate, Aerospace and Defense business unit at MarketsandMarkets, the infrared and thermal imaging systems market is expected to be $3,350 million in 2014 and is expected to grow at a CAGR of 9.27% to touch $5,219.21 million by 2019.

North America is a major contributor to the revenue, but the Middle East and Asia-Pacific show exceptional growth and are thus high-growth regions. Similarly, countries such as India, Saudi Arabia, China, and other countries in the region, have high growth.

The increased use of integrated solutions and services for closed circuit television cameras, the automotive sector, and smartphones, have boosted the demand for infrared and thermal imaging systems within these sectors, and eventually, boosted the revenue of the infrared and thermal imaging systems market.

Even though the military budget cuts in the U.S. and EU, and the global financial crisis have affected the infrared and thermal imaging systems market, the market has slowly gained stability and is on the verge of a tremendous rise. The main reason for this boost is due to the increased worldwide demand for commercial applications in the transportation and thermographic sector. Similarly, border disputes, terrorism, internal insurgencies, soldier modernization programs, and other issues, have resulted in increased sales of infrared and thermal imaging systems in those regions. The threats from Iran, border issues, and the conflict between Israel and Arab countries, have forced major Arab countries to modernize their troops, which in turn has made the region favorable to infrared and thermal imaging system manufacturers.

Technological evolutions in microbolometers, outsourced work, increased production lines, and increased worldwide demand, has helped manufacturers lower the prices of infrared and thermal imaging systems which in turn plays a major role in the wide acceptance of these systems in the commercial as well as military market. The top players in the infrared and thermal imaging market such as FLIR Systems, DRS Technologies, Raytheon Company, L-3 Communications, BAE Systems, and others, are now contending to break into the commercial market by introducing cheaper devices.

Related Reports:

Infrared and Thermal Imaging Systems Market by Technology (Cooled, Uncooled), by Subsector (Commercial, Military), by Application (Transportation, Security & Surveillance, Thermography, Military Vehicle Vision, Soldier Portable Vision, & Unmanned Systems), & by Geography (North America, Europe, Asia-Pacific, the Middle East, Latin America & ROW) - Forecasts & Analysis 20142019

Contact:
Mr. Rohan
North - Dominion Plaza,
17304 Preston Road,
Suite 800, Dallas, TX 75252
Tel: +1-888-600-6441
Email: sales@marketsandmarkets.com

Report Code
AS 2322
Published ON
Mar, 2014
Choose License Type
BUY NOW
  • SHARE
X
Request Customization
Speak to Analyst
Speak to Analyst
OR FACE-TO-FACE MEETING
PERSONALIZE THIS RESEARCH
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
REQUEST A FREE CUSTOMIZATION
LET US HELP YOU!
  • What are the Known and Unknown Adjacencies Impacting the Infrared and Thermal Imaging Systems Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
REQUEST A FREE WORKSHOP
ADJACENT MARKETS
REQUEST BUNDLE REPORTS
ONLINE CHAT
+1-888-600-6441
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
© MarketsandMarkets Research Private Ltd. All rights reserved