Global Imaging Radiometer Market 2018-2022
About imaging radiometer
Imaging radiometer is a device that uses the infrared (IR) band of electromagnetic radiation to detect and analyze the radiometric temperature and spectral radiance of the target.
Technavio’s analysts forecast the global imaging radiometer market to grow at a CAGR of 9.91% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global imaging radiometer market for 2018-2022. To calculate the market size, the report considers the demand for thermal imaging equipment.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Imaging Radiometer Market 2018-2022
Technavio recognizes the following companies as the key players in the global imaging radiometer market: CI Systems, FLIR Systems, and Raytheon Company.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the continuous investments in military upgrades. The global imaging radiometer market started growing post World War II. Many countries, such as the US, Russia, and Canada, wanted to deploy this technology for their warfare equipment and weapons. If we look at the procurement expenses, many countries have increased their budget in the procurement part. With the increasing military budget, the requirement for advanced imaging equipment is growing, which is propelling the demand for imaging radiometers.
According to the report, one of the major drivers for this market is the increasing activities of precision agriculture. The global population is expected to increase to more than 9 billion during the next three decades and this will significantly increase the demand for global food production. Several developed countries in the Europe and countries such as the US encourage smart farming through various initiatives by public and private funds. This will drive the adoption of precision agriculture that uses thermal imaging to gather necessary information for crop analyses and crop management driving the need for imaging radiometers.
Further, the report states that one of the major factors hindering the growth of this market is the high cost to company. Though imaging radiometers are better than other night vision devices since they have a better response time, better noise filtering, and lesser distance limitations their adoption is limited in civil applications owing to high capital expenditure and the operating cost of imaging radiometers. This will hinder the growth of this global market.