Global IR And Thermal Imaging Systems Market Research Report published by market insight reports explores the current outlook in global and key regions from the perspective of Major Players, Countries, Product types and end industries. This report analyzes top players in the global market, and divides the Market into several parameters.
This IR And Thermal Imaging Systems Market research report identifies the competitive landscape of industries to understand the competition at International level. This report study describes the projected growth of the global market for approaching years from 2019 to 2025. This research report has been aggregated on the basis of static and dynamic aspects of the businesses.
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The prominent players in the Global IR And Thermal Imaging Systems Market:
Flir Systems, Inc., L-3 Communications Holdings, ULIS, Lockheed Martin, Bae Systems plc, Leonardo DRS, Elbit Systems Ltd., Raytheon, Sofradir Group, Thermoteknix Systems Ltd. and Others.
The IR and Thermal Imaging Systems market was valued at USD 5.19 billion in 2019 and is expected to reach USD 7.92 billion by 2025, at a CAGR of 7.78% over the forecast period 2020 – 2025. Infrared and Thermal Imaging Systems have witnessed a paradigm shift in recent years, owing to their increasing use in military and defense applications.
Key Market Trends: –
Industrial Applications are Expected to Have a Major Market Share.
Thermal imaging has initiated the process of making substantial inroads into other types of applications such as uncooled microbolometer-based detectors. These sensors have a long wave infrared band from 7.5 to 14 m. Microbolometers are cheaper, smaller in size, lighter in weight; all these attributes while possessing immediate power-up capabilities, decreased power consumption, longer means the time between failures and are comparatively better than traditional bolometers.
The automotive industry uses thermal imaging as part of the safety system (E.g., identification of animals or humans on the road and warn the drivers before they encounter these potential hazards). Rear-view visibility systems (backup cameras) are now becoming mandatory on all new light vehicles sold in the US. With autonomous vehicles coming into the picture, this technology can facilitate the automatic breaking by distinguishing based on object size.
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North America to Hold a Significant Market Share
Latest technological breakthroughs have facilitated the advancement of new IR and thermal imaging systems that can make the overall processes more efficient and can significantly improve accuracy in various applications.
There have been a series of new product launches, mergers and acquisitions in North America to take advantage of this opportunity. The major driver behind the investments has been the overall evolution and application of new technologies to unlock a huge number of 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 over the forecast period.
For instance, L-3 Communications majorly based out in the United States launched its latest Warrior Systems (ALST) and has signed a contract to deliver ground laser target designators to the Republic of Korea. L-3 released its latest Scarab system (a laser designator armed with rangefinding and an IR thermal imager), which is providing exact target designation during the day, night and in all battlefield conditions. The contract value is approximately USD 30 million.
Significant Features that are under Offering and Key Highlights of the Reports:
– Detailed overview of IR And Thermal Imaging Systems Market
– Changing market dynamics of the industry
– In-depth market segmentation by Type, Application etc.
– Historical, current and projected market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of IR And Thermal Imaging Systems Market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising growth
The research includes historic data from 2014 to 2019 and forecasts until 2025 which makes the report an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.
Finally, the IR And Thermal Imaging Systems market report offers a complete and detailed study of global IR And Thermal Imaging Systems market by using numerous analytical tools and models such as SWOT analysis, investment return analysis, and porter’s five forces analysis which are useful for beginners to access the upcoming opportunities. After exploring the market insights through primary and secondary research methodologies, if anything is required except than this, market insight reports will provide customization as per specific demands.
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Note: – All the reports that we list have been tracking the impact of COVID-19 the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.