It is estimated that over the years 2015-2020 the market for handled thermal imaging equipment is to grow with a CAGR 9.5 % to reach the value 5.6 billion by 2020. Unlike the ordinary night vision gadgets, handheld thermal imaging equipment or infrared cameras don’t rely on amplification of light and hence can be used where visual camouflage or any other factor that may hinder the vision, say fog or smoke. Though major application of the handheld thermal imaging is with the defense and security sector, it also made its way into academic sector for research related purpose; manufacturing, retail and other sectors mainly for planned preventive maintenance, quality control, energy conservation and environmental control.
Tough the demand from the American and European states defense department has reduced; the demand for Handheld Thermal Imaging Equipment has increased with other states in the world. The demand will be mostly with the developing countries trying to modernize their military and as the growing trend to mould the technology with smartphone increases.
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