Military Thermal Imaging Market Size, Analysis, Emerging Drivers, Growth Opportunities and Forecasts To 2032
Military Thermal Imaging Market Overview
Military Thermal Imaging Market Size was valued at USD 3.31 billion in 2022. The Military Thermal Imaging Market is projected to grow to USD 6.67 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.1% during the forecast period (2022 - 2032).
Thermal imaging technology has been developed for military applications that provide soldiers with clear vision in low light conditions, such as in the evening or fogs, and military operations conducted at night. These technologies provide clear images on a display system through electronic signals that process the information gathered by the thermal imaging camera. The increased need for thermal inspections and monitoring in the military sector has led to increasing demand for the development of thermal imaging.
The emergence of unmanned aerial vehicles in airborne thermal imaging will boost the market growth. The increased focus on technology advancement of thermal imaging will enable manufacturers to offer new growth opportunities to the market players. However, there are some shortcomings, such as export restrictions on military thermal imaging and additional detailing required for long wave infrared cameras, which will restrain the growth of this market. The market for military thermal imaging market trends is estimated to witness a CAGR of 6% during the forecast period.
Market Segmentation:
This study provides an overview of the Global Military thermal imaging market size, tracking four market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia Pacific (APAC), Middle East & Africa and Latin America. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global military thermal imaging market size by its type, application, end user, platform, and region.
By Type
Camera
Module
Scope
By Application
Security & Surveillance
Monitoring & Inspection
Target Detection
Situational Awareness
Others
By End User
Naval
Airborne
Land
By Platform
Man-Portable
Fixed Mounted
By Region
North America
Europe
Asia Pacific
Middle East & Africa
Latin America
Key Players:
The military thermal imaging market drivers size are Lockheed Martin (US), Aselsan (Turkey), Thales Group (France), Raytheon Company (US), Northrop Grumman (US), L-3 Technologies (US), Ultra Electronics (UK), Israel Aerospace Industries (Israel), MOOG Inc. (US), Flir Systems (US), Rafael Advanced Defense Systems Ltd. (Israel), and Qioptik (Paris).
Regional analysis:
On the basis of region, the military thermal imaging market industry is segmented into North America, Asia Pacific, Europe, the Middle East, and Latin America. In North America, the presence of thermal imaging product manufacturers and R&D centers in this region would boost the market. In the Asia Pacific region, there is a high demand for thermal imaging due to increasing deployment of thermal imaging technology in various military applications. There are several contracts have been done to bolster the growth of the market. In 2017, the Teledyne Technologies acquired E2v Technologies plc. to provide high performance image sensors, custom camera solutions, and application specific standard products for use in aerospace, space and communications applications. In 2016, FLIR Systems signed a contract with Hellenic Port Police to provide airborne thermal imaging systems for port security, coastal patrol, shipping protection, and general surveillance.
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