Thermal Imaging Market growing at a CAGR of 5.5% during 2021-2026

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MarketsandMarkets Presents

Thermal Imaging Market growing at a CAGR of 5.5
during 2021-2026 Thermal Imaging Market with
COVID-19 Impact and Analysis, by Product Type
(Modules, Cameras, Scopes), Type (Handheld and
Standstill), Technology(Cooled, Uncooled),
Application, Wavelength(SWIR, MWIR, LWIR),
Vertical, and Region - Global Forecast to
2026 https//www.marketsandmarkets.com/Market-Rep
orts/thermal-imaging-market-1300.html
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According to the new market research
report "Thermal Imaging Market with COVID-19
Impact and Analysis, by Product Type (Modules,
Cameras, Scopes), Type (Handheld and Standstill),
Technology (Cooled, Uncooled), Application,
Wavelength (SWIR, MWIR, LWIR), Vertical, and
Region - Global Forecast to 2026", published by
MarketsandMarkets, the Thermal Imaging Market is
projected to grow from USD 3.6 billion in 2021
to USD 4.7 billion by 2026, growing at a CAGR of
5.5 during the forecast period. The key factors
driving the growth of the global thermal imaging
market include Increasing government expenditure
on the aerospace defense sector boosting the
growth of the thermal imaging market, increasing
adoption of thermal imaging in the automotive
industry, growing RD investments by companies,
governments, and capital firms for developing
innovative thermal imaging solutions, and
others. Browse 137 market data Tables and 57
Figures spread through 220 Pages and in-depth TOC
on "Thermal Imaging Market with COVID-19 Impact
and Analysis - Global Forecast to 2026"
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Thermal cameras segment to account for the
largest share of thermal imaging market during
the forecast period On the basis of product
types, the thermal imaging market has been
segmented into three categoriesthermal cameras,
thermal scopes, and thermal modules. The thermal
cameras segment held the largest share of the
thermal imaging market in 2020 and is expected to
continue this growth during the forecast period.
Several reasons, such as an electronic image of
high-quality precision produced in less time and
the availability in different types (handheld,
mounted, and standalone) and various micro-and
nano-sizes, contribute to this dominance. Ask
PDF Brochure https//www.marketsandmarkets.com/pd
fdownloadNew.asp?id1300 Security and
surveillance segment to account for the largest
share of thermal imaging market during the
forecast period Based on applications, the
thermal imaging market has been segmented into
security and surveillance, monitoring and
inspection, and detection and measurement. The
security and surveillance segment held the
largest share of the thermal imaging market
during the forecast period. Rapid urbanization
increases the demand for advanced thermal imaging
solutions for security and surveillance
applications. The rising conflicts and terrorist
activities among countries also increase the
demand for well-equipped systems to monitor the
country's borders from the illegal intrusion of
enemies and protect the country from them.
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North America to account for the largest share of
thermal imaging market during the forecast
period Among all regions, North America accounted
for the largest share of the thermal imaging
market and is expected to continue this growth
during the forecast period. The region is home to
the major producers of thermal imaging
components, such as thermal cameras, scopes, and
modules. The US is the major contributor to this
region and accounts for 89 of the total thermal
imaging market share in North America. The growth
of the thermal imaging market in this region is
attributed to the presence of numerous
manufacturers and distributors, the low cost of
thermal imaging components, and the increasing
government expenditure in the aerospace defense
sector. Request Free Sample Pages https//www.ma
rketsandmarkets.com/requestsampleNew.asp?id1300
Some of the key companies operating in the market
are FLIR Systems (US), Fluke Corporation (US),
Leonardo (Italy), L3HARRIS TECHNOLOGIES (US),
United Technologies (US), Axis Communications
(Sweden), BAE Systems (UK), Opgal (Israel), Testo
(Germany), Xenics (Belgium), Thermoteknix Systems
(UK), and so on.
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COVID-19 Impact on the Global Thermal Imaging
Market The outbreak and spread of COVID-19 have
led to a slowdown in global economic growth. It
has adversely affected several industries,
including the thermal imaging industry. Companies
are planning and working on keeping their
businesses operational. Manufacturing and
distributing products are the key challenges
faced by companies. Several countries worldwide
have imposed or prolonged lockdowns to contain
the spread of the pandemic, which has resulted in
disruptions in the supply chain of the thermal
imaging market. Challenge Thermal cameras do
not work through glass and water Thermal cameras
detect heat energy dissipated by the human body,
animal, or any structure. The camera produces
heat patterns and an image based on them, which
helps investigate defects, threats, or other
possibilities. Thermal imaging cameras do not
work through glass and water because glass allows
visible light to pass through it, but it acts as
a mirror for thermal wavelengths. If a thermal
camera is held in front of the glass, it will
produce an image of the person holding the
thermal camera. The image produced will be a blur
and will lack significant detail and contrast.
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