The global thermal imaging market is anticipated to grow at a CAGR 7.2% during the forecast period. The market is driven by growing the growing investments by companies, governments, and capital ventures to develop innovative thermal imaging solutions. For instance, in April 2019, DroneBase raises capital and partners with FLIR Systems to train pilots on thermal imaging technology. FLIR Systems’ investment in DroneBase helps expand the adoption of FLIR thermal imaging technology. Such investment by major market players to develop innovative solutions is significantly contributing to the market growth. In addition, rising demand for thermal imaging solutions in security and surveillance in government & defense is boosting the growth of the thermal imaging market during the forecast period.

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The key players of the thermal imaging market include FLIR Systems Inc., L3Harris Technologies, Inc, United Technologies Corp., Leonardo DRS, Inc, Axis Communications AB, BAE Systems, Inc., Fluke Corp. (A Danaher Corp. Company), Infrared Imaging Services, LLC, and Testo SE & Co. KGaA.

Growing urbanization is anticipated to impose a growing demand for advanced security solutions. Increasing investments in infrastructural systems with surging demand for professional surveillance is propelling the growth of the thermal imaging market during the forecast period. Moreover, the growing demand for thermal cameras in various sectors such asthe military and automotive sector is significantly driving the thermal imaging market during the forecast period. The increasing popularity of unmanned aerial vehicles (UAV) equipped with highly advanced video cameras in the military that is being witnessed as the technology that enables the aircraft to fly in the darkness and enables in detecting the target by smoke and clouds. Furthermore, a decrease in the average selling price of these cameras and the assimilation of camera modules along with smartphones that are significantly driving the market growth during the forecast period.

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The global thermal imaging market is segmented on the basis of product type, technology, and vertical. Based on the product type, the market is segmented into a handheld/portable camera, fixed/mounted cores fixed/mounted cores, and scopes & vision goggles. Based on technology, the market is segmented into cooled infrared detectors and uncooled infrared detectors. Cooled thermal imagers are heavy and costly owing to their significant application in the cryogenic cooling units as they offer sensitivity and highly suitable for low contrast large range imaging applications. The cooled thermal cameras offered improved image quality and benefits in the area of airports, nuclear power plants, high-security buildings, pipelines, and airports. The integration of cooled thermal cameras into CCTV cameras provides improved surveillance for the critical infrastructure.

Market Segmentation

Global Thermal Imaging Market by Technology

• Cooled Infrared Detectors
• Uncooled Infrared Detectors

Global Thermal Imaging Market by Product Type

• Handheld/Portable Camera
• Fixed/Mounted Cores Fixed/Mounted Cores
• Scopes & Vision Goggles

Global Thermal Imaging Market by Vertical

• Industrial
• Commercial
• Residential
• Government& Defense
• Healthcare &Life Sciences

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