About the Infrared (IR) Thermography Market
IR thermography uses IR band of electromagnetic radiations to detect and analyze the temperature of an object, device, or material (living or non-living) and display the temperature distribution on a display screen. IR thermography works on the principle of detecting electromagnetic radiations falling under IR spectrum.
Technavio’s analysts forecast the global infrared thermography market to grow at a CAGR of 10.4% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global infrared thermography market for 2016-2020. For market sizing, the report includes IR thermography equipment both handheld and portable, as well as stationary thermography camera modules like thermal cameras, spot thermal cameras, security cameras, voyagers, thermal monocular, thermal rifle scopes, thermal binocular, and all other cameras working on short wavelength infrared (SWIR), mid wavelength infrared (MWIR) and long wavelength infrared (LWIR) detectors, both cooled and uncooled.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Infrared (IR) Thermography Market 2016-2020
Technavio recognizes the following companies as the key players in the global infrared (IR) thermography market: ATN, BAE Systems, DRS Technologies, EO Tech, Honeywell, FLIR, Fluke, Jenoptik, L-3 Communications, Nippon Avionics, Rockwell Collins, Raytheon, Sofradir, Seek Thermal, Testo, Thermoteknix, and Ulir Vision.
Commenting on the report, an analyst from Technavio’s team said: “A trend that will boost market growth is the continuous investment in military upgradation. The global IR thermography market was at its growth stage post the second world war, as many countries like USA, Russia, Canada and other leading countries wanted to deploy this technology in their military systems. The budget for military expenses experienced growth from 1996 to 2011. Since 2012, countries have started to cut down their military expenses. In 2014, the worldwide military expenses were $1,775 billion. However, the procurement expenses in many countries have increased.”
According to the report, a key growth driver is the development of crystal growth techniques. IR thermography used in military applications has to operate in a wide band ranging from SWIR to VLWIR (0.3 to 30 microns). Also, low cost and high performance detectors are required for commercial applications. As a result, manufacturers with in-house manufacturing facility are focusing on the development of crystal growth technologies, where large diameter wafers are being produced with low defect densities. Bulk crystal growth, metal-organic chemical vapor deposition (MOCVD), liquid phase epitaxy (LPE), and molecular beam epitaxy (MBE) are key crystal growth techniques being employed. With these techniques, vendors are able to manufacture low-cost IR detectors like bolometer (micro bolometer array), mercury-cadmium-tellurium (MCT) arrays, and various other band gap devices based on III-V compound semiconductors.
Further, the report states that one challenge that could hamper market growth is the lack of awareness about the product and its underlying technology. As vendors are looking for new markets to improve their bottom line, a number of companies such as FLIR, Fluke, and Nippon Avionics are focusing on product development to target the commercial and industrial application segment. However, lack of awareness and understanding about the product and technology hampers the development.
ATN, BAE Systems, DRS Technologies, EO Tech, Honeywell, FLIR, Fluke, Jenoptik, L-3 Communications, Nippon Avionics, Rockwell Collins, Raytheon, Sofradir, Seek Thermal, Testo, Thermoteknix, Ulir Vision.
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