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Global Thermal Imaging Market to reach USD 5.14 billion by the end of 2030

Global Thermal Imaging Market Size study & Forecast, by Product (Thermal Camera, Thermal Scopes, Thermal Module), by Application (Border Surveillance, Vehicle Targeting, C-UAS, Maritime & Coastal Surveillance, Critical Infrastructure, Others (Thermal Imaging in Machineries, Medical, and Firefighting, etc.)), by Type (Handheld, Fixed/Mounted), by Technology (Cooled, Uncooled), by Wavelength (Shortwave Infrared (SWIR), Mid-wave Infrared (MWIR), Longwave Infrared (LWIR)), by Vertical (Aerospace and Defense, Law Enforcement, Healthcare, Automotive, Oil and Gas, Residential, Manufacturing, Others (Utility, Chemical, etc.)) and Regional Analysis, 2023-2030

Product Code: SSRCS-83018244
Publish Date: 20-05-2023
Page: 200

Global Thermal Imaging Market is valued approximately USD 2.84 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 7.7% over the forecast period 2023-2030. The thermal imaging market refers to the market for thermal imaging technology, which is used to capture and display images of heat radiation emitted by objects and surfaces. Thermal imaging cameras and sensors capture the infrared radiation emitted by objects and convert it into an image that can be analyzed and interpreted for a wide range of applications, including surveillance and security, industrial inspection, healthcare, and firefighting. The major driving factor for the Global Thermal Imaging Market are increasing demand of thermal imaging in various industries and growing awareness of safety and security. Moreover, the government initiatives and regulations and increasing demand for non-invasive screening and diagnostics is creating lucrative growth opportunity for the market over the forecast period 2023-2030.

Government initiatives and regulations aimed at improving industrial safety and security, as well as healthcare screening and diagnostics, are driving the adoption of thermal imaging technology in various applications. The Occupational Safety and Health Administration (OSHA) in the United States has implemented regulations aimed at improving industrial safety and preventing accidents in hazardous environments. Thermal imaging technology is being used in various industries to detect potential issues before they become critical problems and to improve safety and productivity. Along with this, in 2020, the European Union (EU) has implemented regulations for medical devices, including thermal imaging cameras used for non-invasive screening and diagnostics. In addition, many countries, such as India, are investing in healthcare screening and diagnostics programs to improve public health using thermal imaging technology. However, the high cost of Thermal Imaging stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Thermal Imaging Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. The North American thermal imaging market is expected to dominate the market due to the increasing demand for thermal imaging solutions in various applications, such as surveillance and security, industrial inspection, and healthcare. The presence of key players, such as FLIR Systems and Raytheon Technologies, is also expected to contribute to the growth of the market in this region. The Asia Pacific thermal imaging market is expected to grow rapidly due to the increasing demand for thermal imaging solutions in applications such as surveillance, firefighting, and industrial inspection. The increasing investment in infrastructure development in countries like China and India is also expected to drive the growth of the market in this region.

Major market player included in this report are:
BAE System Plc (Farnborough, United Kingdom)
Leonardo S.p.A. (Rome, Italy)
Thales Group (La Défense, France)
FLIR Systems, Inc. (Oregon, United States)
American Technologies Network Corporation (California, United States)
Fluke Corporation (Washington, United States)
Thermoteknix Systems Ltd. (Cambridge, United Kingdom)
Seek Thermal, Inc. (California, United States)
Cantronic Systems, Inc. (British Columbia, Canada)
Excelitas Technologies Corp. (Waltham, Massachusetts, United States)

Recent Developments in the Market:
Ø In February 2020, FLIR Systems, Inc. introduced the FLIR A8580 series of thermal cameras that are specifically designed for military, scientific, industrial, and product research and development (R&D) applications. This new solution offers high-speed recording capabilities to capture blur-free images of fast-moving objects.

Global Thermal Imaging Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Product, Application, Type, Technology, Wavelength, Vertical, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product:
Thermal Camera
Thermal Scopes
Thermal Module
By Application:
Border Surveillance
Vehicle Targeting
Maritime & Coastal Surveillance
Critical Infrastructure
Others (Thermal Imaging in Machineries, Medical, and Firefighting, etc.)
By Type:
By Technology:
By Wavelength:
Shortwave Infrared (SWIR)
Mid-wave Infrared (MWIR)
Longwave Infrared (LWIR)
By Vertical:
Aerospace and Defense
Law Enforcement
Oil and Gas
Others (Utility, Chemical, etc.)

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Thermal Imaging Market, by Region, 2020-2030 (USD Billion)
1.2.2. Thermal Imaging Market, by Product, 2020-2030 (USD Billion)
1.2.3. Thermal Imaging Market, by Application, 2020-2030 (USD Billion)
1.2.4. Thermal Imaging Market, by Type, 2020-2030 (USD Billion)
1.2.5. Thermal Imaging Market, by Technology, 2020-2030 (USD Billion)
1.2.6. Thermal Imaging Market, by Wavelength, 2020-2030 (USD Billion)
1.2.7. Thermal Imaging Market, by Vertical, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Thermal Imaging Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Thermal Imaging Market Dynamics
3.1. Thermal Imaging Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Increasing demand of thermal imaging in various industries Growing awareness of safety and security
3.1.2. Market Challenges High Cost of Thermal Imaging
3.1.3. Market Opportunities Government initiatives and regulations Increasing demand for non-invasive screening and diagnostics
Chapter 4. Global Thermal Imaging Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Thermal Imaging Market, by Product
5.1. Market Snapshot
5.2. Global Thermal Imaging Market by Product, Performance – Potential Analysis
5.3. Global Thermal Imaging Market Estimates & Forecasts by Product 2020-2030 (USD Billion)
5.4. Thermal Imaging Market, Sub Segment Analysis
5.4.1. Thermal Camera
5.4.2. Thermal Scopes
5.4.3. Thermal Module
Chapter 6. Global Thermal Imaging Market, by Application
6.1. Market Snapshot
6.2. Global Thermal Imaging Market by Application, Performance – Potential Analysis
6.3. Global Thermal Imaging Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
6.4. Thermal Imaging Market, Sub Segment Analysis
6.4.1. Border Surveillance
6.4.2. Vehicle Targeting
6.4.3. C-UAS
6.4.4. Maritime & Coastal Surveillance
6.4.5. Critical Infrastructure
6.4.6. Others (Thermal Imaging in Machineries, Medical, and Firefighting, etc.)
Chapter 7. Global Thermal Imaging Market, by Type
7.1. Market Snapshot
7.2. Global Thermal Imaging Market by Type, Performance – Potential Analysis
7.3. Global Thermal Imaging Market Estimates & Forecasts by Type 2020-2030 (USD Billion)
7.4. Thermal Imaging Market, Sub Segment Analysis
7.4.1. Handheld
7.4.2. Fixed/Mounted
Chapter 8. Global Thermal Imaging Market, by Technology
8.1. Market Snapshot
8.2. Global Thermal Imaging Market by Technology, Performance – Potential Analysis
8.3. Global Thermal Imaging Market Estimates & Forecasts by Technology 2020-2030 (USD Billion)
8.4. Thermal Imaging Market, Sub Segment Analysis
8.4.1. Cooled
8.4.2. Uncooled
Chapter 9. Global Thermal Imaging Market, by Wavelength
9.1. Market Snapshot
9.2. Global Thermal Imaging Market by Wavelength, Performance – Potential Analysis
9.3. Global Thermal Imaging Market Estimates & Forecasts by Wavelength 2020-2030 (USD Billion)
9.4. Thermal Imaging Market, Sub Segment Analysis
9.4.1. Shortwave Infrared (SWIR)
9.4.2. Mid-wave Infrared (MWIR)
9.4.3. Longwave Infrared (LWIR)
Chapter 10. Global Thermal Imaging Market, by Vertical
10.1. Market Snapshot
10.2. Global Thermal Imaging Market by Vertical, Performance – Potential Analysis
10.3. Global Thermal Imaging Market Estimates & Forecasts by Vertical 2020-2030 (USD Billion)
10.4. Thermal Imaging Market, Sub Segment Analysis
10.4.1. Aerospace and Defense
10.4.2. Law Enforcement
10.4.3. Healthcare
10.4.4. Automotive
10.4.5. Oil and Gas
10.4.6. Residential
10.4.7. Manufacturing
10.4.8. Others (Utility, Chemical, etc.)
Chapter 11. Global Thermal Imaging Market, Regional Analysis
11.1. Top Leading Countries
11.2. Top Emerging Countries
11.3. Thermal Imaging Market, Regional Market Snapshot
11.4. North America Thermal Imaging Market
11.4.1. U.S. Thermal Imaging Market Product breakdown estimates & forecasts, 2020-2030 Application breakdown estimates & forecasts, 2020-2030 Type breakdown estimates & forecasts, 2020-2030 Technology breakdown estimates & forecasts, 2020-2030 Wavelength breakdown estimates & forecasts, 2020-2030 Vertical breakdown estimates & forecasts, 2020-2030
11.4.2. Canada Thermal Imaging Market
11.5. Europe Thermal Imaging Market Snapshot
11.5.1. U.K. Thermal Imaging Market
11.5.2. Germany Thermal Imaging Market
11.5.3. France Thermal Imaging Market
11.5.4. Spain Thermal Imaging Market
11.5.5. Italy Thermal Imaging Market
11.5.6. Rest of Europe Thermal Imaging Market
11.6. Asia-Pacific Thermal Imaging Market Snapshot
11.6.1. China Thermal Imaging Market
11.6.2. India Thermal Imaging Market
11.6.3. Japan Thermal Imaging Market
11.6.4. Australia Thermal Imaging Market
11.6.5. South Korea Thermal Imaging Market
11.6.6. Rest of Asia Pacific Thermal Imaging Market
11.7. Latin America Thermal Imaging Market Snapshot
11.7.1. Brazil Thermal Imaging Market
11.7.2. Mexico Thermal Imaging Market
11.8. Middle East & Africa Thermal Imaging Market
11.8.1. Saudi Arabia Thermal Imaging Market
11.8.2. South Africa Thermal Imaging Market
11.8.3. Rest of Middle East & Africa Thermal Imaging Market

Chapter 12. Competitive Intelligence
12.1. Key Company SWOT Analysis
12.1.1. Company 1
12.1.2. Company 2
12.1.3. Company 3
12.2. Top Market Strategies
12.3. Company Profiles
12.3.1. BAE System Plc (Farnborough, United Kingdom) Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
12.3.2. Leonardo S.p.A. (Rome, Italy)
12.3.3. Thales Group (La Défense, France)
12.3.4. FLIR Systems, Inc. (Oregon, United States)
12.3.5. American Technologies Network Corporation (California, United States)
12.3.6. Fluke Corporation (Washington, United States)
12.3.7. Thermoteknix Systems Ltd. (Cambridge, United Kingdom)
12.3.8. Seek Thermal, Inc. (California, United States)
12.3.9. Cantronic Systems, Inc. (British Columbia, Canada)
12.3.10. Excelitas Technologies Corp. (Waltham, Massachusetts, United States)
Chapter 13. Research Process
13.1. Research Process
13.1.1. Data Mining
13.1.2. Analysis
13.1.3. Market Estimation
13.1.4. Validation
13.1.5. Publishing
13.2. Research Attributes
13.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
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Data Collection:
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To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
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Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
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