The thermal camera market is expected to generate $11,332.2

New York, USA, July 20 2022 (GLOBE NEWSWIRE) — According to the report published by Research Dive, the global thermal imaging camera market should generate a revenues of $11,332.2 million by 2030 and growing at a CAGR of 6.79% over the forecast period of 2021-2030. The detailed report provides a concise presentation of the current market framework including key market aspects such as growth drivers, challenges, restraints, and various opportunities over the forecast period of 2021-2030. The report also provides all market figures to help new participants to easily analyze the market.

Thermal Camera Market Dynamics

Drivers: Rising demand for advanced thermal imaging solutions in medical and automotive industries along with increasing research and development activities by major market players are factors that are expected to drive the growth of the global thermal imaging camera market over the period. forecast.

Opportunities: Various applications of thermal cameras in the military and defense sector, diagnosis of breast cancer, peripheral vascular diseases, etc. and growing technological advancements by market players are factors that are estimated to provide ample growth opportunities for the global thermal imaging camera market by 2030.

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Constraints: Strict export restrictions imposed by the US government on thermal imaging cameras are the major factor hampering the growth of the market.

Impact of Covid-19 on the thermal imaging camera market

The global thermal imaging camera market has been negatively affected by the onset of the covid-19 pandemic due to supply chain disruptions and the closure of several manufacturing plants across the globe. Additionally, thermal cameras require materials from multiple vendors such as readout ICs, lenses, packaging, focal plane arrays, and more. which were mostly unavailable during the pandemic. However, as thermal imaging cameras can be used to detect temperature from afar, the market is witnessing a slight growth rate after the chaotic days of the pandemic.

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Segments of the thermal imaging camera market

The report has split the thermal imaging camera market into several segments on the basis of type, application, end-use, and regional analysis.

Type: The wearable camera sub-segment will be very dominant

The wearable camera sub-segment is expected to hold a dominant market share during the analysis period owing to its portability and ease of use. These cameras can also be used to detect heat sources in extremely dark places since they measure infrared radiation. Additionally, the increasing use of wearable cameras in the military and defense sector in total darkness and in the army and navy for border surveillance is also expected to support the growth rate of the sub-segment.

Application: monitoring and inspection sub-segment will be highly beneficial

The surveillance and inspection sub-segment of the global thermal imaging camera market is expected to witness a significant growth rate over the forecast years. The use of thermal cameras equipped with IR technology is high in the oil and gas industry for maintenance and condition monitoring. Additionally, these cameras are used in many other equipment industries for component inspection, further propelling the growth of the sub-segment by 2030.

End use: Aerospace and defense sub-segment will be very lucrative

The aerospace and defense sub-segment is expected to witness the fastest growth rate over the forecast years 2021-2030 owing to the increasing use of thermal imaging cameras with 20 km resolution IR technology for aviation measurement tasks. Additionally, these cameras are also used for precision quality control in the aircraft industry to ensure the use of lightweight components. These factors are expected to boost the growth of the sub-segment by 2030.

Region: Market in North America region to witness better growth opportunities

The thermal camera market in the North America region is expected to witness better growth opportunities over the analysis period owing to the presence of some prominent thermal camera manufacturers and mass production of thermal imaging equipment. thermal cameras such as oscilloscopes, modules, etc. In the region. Additionally, increasing government investments in the military and defense sector are also expected to augment the market growth in the North America region.

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Key players in the thermal imaging camera market

Some Key Thermal Camera Market Players Include

  1. BAE systems
  2. United Technologies
  3. FLIR Systems
  4. Leonardo
  5. Communications Axis
  6. Fluke Corporation
  7. Opgal
  8. Thales Group
  9. L3HARIS TECHNOLOGY
  10. Testing, among others.

These key players are undertaking various strategies such as product development and enhancement, merger and acquisition, partnerships and collaborations to sustain the market growth. – Buy the full report here [250-Pages] at $2999 (read only)

For instance, in October 2021, Fluke Reliability, a leading machine condition monitoring device company, announced its partnership with Everactive, a technology company that provides battery-less IoT solutions, to manufacture next-generation, high-performance wireless vibration sensors. technology. The Fluke 3562 Vibration Detection System is the first product launched from this partnership.

The report also summarizes many significant facets including financial performance of key market players, SWOT analysis, product portfolio, and latest strategic developments.

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