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Thermal Imager Market Analysis | 2023-2028
Thermal Imager Market Size, Share, Trends, Dynamics, Forecast, & Growth Analysis: 2023-2028
The thermal imager market is likely to grow at a CAGR of 4.6% during 2023-2028 to reach USD 779.5 million in 2028.
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Thermal imagers have become increasingly popular in recent years due to their ability to capture images in low light conditions and through smoke, fog, and other obscurants. They can detect heat signatures of people and objects in low-light or no-light conditions, which can be useful in identifying potential threats. As a result, they are used in a wide range of applications, including surveillance, search and rescue, building and industrial inspection, and firefighting.
The growth of the market is driven by demand for thermal imaging cameras in defense & security and industrial and commercial applications. The demand is further triggered by technological advancements, such as the development of smaller and more affordable cameras with higher resolution and better image quality.
A microbolometer is a type of thermal sensor used in thermal imaging cameras. It consists of an array of tiny pixels, each containing a tiny resistor that is sensitive to temperature changes. One of the key advantages of microbolometers is that they do not require cooling, unlike other types of thermal sensors such as cryogenically cooled sensors. This makes them more compact, reliable, and easier to use than other types of thermal sensors. Microbolometers are commonly used in a variety of applications, including industrial inspection, surveillance, firefighting, and medical imaging. They are also used for defense applications, such as target acquisition, surveillance, and reconnaissance. Advancements in microbolometer technology, such as improvements in pixel size, sensitivity, and response time, have led to the development of more advanced and capable thermal imaging cameras that can be used in a wider range of applications.
Thermography is one of the major applications in the microbolometer-based thermal imager market. In industrial applications, thermography comes in handy to detect defects or anomalies in machinery, electrical systems, and other equipment by identifying areas with abnormal temperature variations. In the medical field, microbolometer-based thermography is used for non-invasive diagnosis and monitoring of various conditions. These sensors are also used in the construction industry for building inspections. In the automotive industry, they are deployed for detecting defects in engines and other components. In the agriculture industry, for monitoring crop health and detecting pest infestations.
The market for thermal imagers is highly consolidated with a few companies holding most of the market share. The major players compete in some of the governing factors including price, product offerings, industry expertise, regional presence, etc.
The following are the key players in the thermal imager market (arranged alphabetically):
Note: The above list does not necessarily include all the top players in the market.
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Segmentations |
List of Sub-Segments |
Dominant and Fastest-Growing Segments |
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Application Type |
Military and Commercial |
Commercial application is anticipated to remain the dominant segment. The application type is also likely to witness the fastest market growth in the years to come. |
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Regional Analysis |
North America, Europe, Asia-Pacific, and Rest of the World |
Asia-Pacific is expected to remain the largest as well as the fastest-growing market over the next five years. |
"Commercial application is anticipated to remain the dominant segment during the forecast period"
The market is segmented into military and commercial applications. Under military applications, soldier vision is estimated to remain the dominant application type, owing to its wide usage in military night vision devices. Thermal weapon sights (TWS) equipped with microbolometer technology can detect thermal signatures of objects and individuals, even in complete darkness. This allows for improved surveillance and reconnaissance capabilities, as well as increased accuracy in target acquisition and engagement owing to which it is expected to witness the fastest growth in the years to come.
Similarly, under commercial applications, owing to the wide application of thermography, it is estimated to remain the dominant as well as the fastest-growing commercial application type in the years to come.
“Asia-Pacific is expected to remain the largest as well as the fastest-growing market during the forecast period.”
Microbolometer is used in a wide range of applications in various industries such as aerospace, defense, automotive, and healthcare. The Asia-Pacific region has been witnessing significant growth in these industries, particularly in countries, such as China, India, Japan, and South Korea. This growth is driving the demand for microbolometers in the overall region.
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The majority of companies are focusing on creating new products. Product line expansion along with mergers & acquisitions are some of the prominent methods used to broaden the company’s market shares. There were a fair number of mergers & acquisitions in the thermal imager market. Some of these are the following:
In 2021, Teledyne acquired FLIR Systems through a cash and stock transaction worth nearly US$ 8 billion. The company is the undisputed leader in the IR sensor market and will continue providing a full spectrum of imaging technologies.
In 2019, Sofradir merged with its subsidiary ULIS and formed Lynred, a stronger player in the IR detector market.
In 2014, Seek Thermal entered into a partnership with Raytheon and NXP to design and deliver affordable high-quality thermal imaging sensors, across the world.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:
This report studies the market covering 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.
The thermal imager market is segmented into the following categories:
By Application Type
By Region
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Company Profiling
Competitive Benchmarking
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Thermal imagers have become increasingly popular in recent years due to their ability to capture images in low light conditions and through smoke, fog, and other obscurants. They can detect heat signatures of people and objects in low-light or no-light conditions, which can be useful in identifying potential threats. As a result, they are used in a wide range of applications, including surveillance, search and rescue, building and industrial inspection, and firefighting.
The thermal imager market is estimated to grow at a CAGR of 4.6% during the forecast period.
Teledyne Technologies Incorporated, Lynred, Seek Thermal, Wuhan Guide Sensmart Tech Co., Ltd., Global Sensor Technology, BAE Systems, Leonardo DRS, Zhejiang Dali Technology Co., Ltd., i3system, and MikroSens are the leading players in the thermal imager market.
The Thermal Imager Market is likely to reach US$ 779.5 million by 2028.
Asia-Pacific is estimated to remain the dominant market in the foreseeable future as the region is witnessing significant growth in various industries, such as defense, automotive, and healthcare.
Under military applications, soldier vision is estimated to remain the dominant application type, owing to its wide usage in military night vision devices.
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