Thermal Imaging Market Analysis By Application (Military & Defense, Commercial, Residential, Industrial) And Segment Forecasts To 2020
The global thermal imaging market is expected to reach USD 6,499.5 million by 2020. Surging demand for cost effective thermal imaging devices across a diverse range of applications is expected to serve as a key market driver over the next six years. Commercialization of thermal imagers owing to the development of microbolometers is also expected to favorably impact market growth over the forecast period.
The thermal imaging market is characterized by constant price wars, which is a result of intense competition. In addition to growing demand from commercial and industrial applications, thermal imaging devices are used extensively across several security & surveillance applications. Reduced defense spending in developed markets is expected to restrain the industry over the next six years. Emergence and increased adoption of integrated solutions across commercial applications provides avenues for market growth. The use of thermal imaging technology in smartphones and high resolution cameras is also expected to be a sizable opportunity for industry participants.
Further key findings from the study suggest:
Military & defense emerged as the most dominant application segment, and accounted for over 40% of the thermal imaging market in 2013. Ground forces in the military depend on thermal cameras, night vision goggles and related equipment in order to improve situational awareness. Thermal imaging application in the commercial segment is also expected to witness growth over the next few years. This can be attributed to the rise in use of thermal imaging devices across an array of applications including security & surveillance, transportation systems and thermography.
North America was the largest regional market in 2013, accounting for over 30% of the global thermal imaging market in the same year. Growth across the industrial and commercial sectors is expected to fuel the regional market over the next six years.
Key market players include Raytheon Company, FLIR Systems Inc., BAE Systems Inc. and DRS Technologies Inc. Developing technologically advanced and cost-effective devices is expected to be a critical success factor to sustain amid increasing competition. Growing emphasis on vertically integrating manufacturing activities so as to achieve optimized manufacturing throughput along with greater product reliability is expected to be a key growth strategy.
For the purpose of this study, Grand View Research has segmented the global thermal imaging market on the basis of application and region:
The thermal imaging market is characterized by constant price wars, which is a result of intense competition. In addition to growing demand from commercial and industrial applications, thermal imaging devices are used extensively across several security & surveillance applications. Reduced defense spending in developed markets is expected to restrain the industry over the next six years. Emergence and increased adoption of integrated solutions across commercial applications provides avenues for market growth. The use of thermal imaging technology in smartphones and high resolution cameras is also expected to be a sizable opportunity for industry participants.
Further key findings from the study suggest:
Military & defense emerged as the most dominant application segment, and accounted for over 40% of the thermal imaging market in 2013. Ground forces in the military depend on thermal cameras, night vision goggles and related equipment in order to improve situational awareness. Thermal imaging application in the commercial segment is also expected to witness growth over the next few years. This can be attributed to the rise in use of thermal imaging devices across an array of applications including security & surveillance, transportation systems and thermography.
North America was the largest regional market in 2013, accounting for over 30% of the global thermal imaging market in the same year. Growth across the industrial and commercial sectors is expected to fuel the regional market over the next six years.
Key market players include Raytheon Company, FLIR Systems Inc., BAE Systems Inc. and DRS Technologies Inc. Developing technologically advanced and cost-effective devices is expected to be a critical success factor to sustain amid increasing competition. Growing emphasis on vertically integrating manufacturing activities so as to achieve optimized manufacturing throughput along with greater product reliability is expected to be a key growth strategy.
For the purpose of this study, Grand View Research has segmented the global thermal imaging market on the basis of application and region:
- Thermal Imaging Application Outlook (Revenue, USD Million, 2012 – 2020)
- Military & Defense
- Commercial
- Residential
- Industrial
- Thermal Imaging Regional Outlook (Revenue, USD Million, 2012 – 2020)
- North America
- Europe
- Asia Pacific
- RoW
CHAPTER 1 EXECUTIVE SUMMARY
1.1 Thermal Imaging - Industry Summary & Critical Success Factors (CSFs)
CHAPTER 2 THERMAL IMAGING INDUSTRY OUTLOOK
2.1 Market Segmentation
2.2 Market Size and Growth Prospects
2.3 Thermal Imaging Value Chain Analysis
2.4 Thermal Imaging Market Dynamics
2.4.1 Key Driver Analysis
2.4.1.1 Availability of cost-effective devices
2.4.1.2 Diverse applications
2.4.2 Key Restraint Analysis
2.4.2.1 Reduced defense budget in developed regions
2.5 Key Opportunities Prioritized
2.6 Industry Analysis - Porter's
2.7 Thermal Imaging - Key Company Analysis, 2013
2.8 Thermal Imaging - PESTEL Analysis
CHAPTER 3 THERMAL IMAGING APPLICATION OUTLOOK
3.1 Military & Defense
3.1.1 Global market estimates and forecasts, by region, (USD Million), 2012 - 2020
3.2 Commercial
3.2.1 Global market estimates and forecasts, by region, (USD Million), 2012 - 2020
3.3 Residential
3.3.1 Global market estimates and forecasts, by region, (USD Million), 2012 - 2020
3.4 Industrial
3.4.1 Global market estimates and forecasts, by region, (USD Million), 2012 - 2020
CHAPTER 4 THERMAL IMAGING REGIONAL OUTLOOK
4.1 North America
4.1.1 Thermal imaging market by application, (USD Million), 2012 - 2020
4.2 Europe
4.2.1 Thermal imaging market by application, (USD Million), 2012 - 2020
4.3 Asia Pacific
4.3.1 Thermal imaging market by application, (USD Million), 2012 - 2020
4.4 RoW
4.4.1 Thermal imaging market by application, (USD Million), 2012 - 2020
CHAPTER 5 THERMAL IMAGING COMPETITIVE LANDSCAPE
5.1 Axis Communications
5.1.1 Company Overview
5.1.2 Financial Performance
5.1.3 Product Benchmarking
5.1.4 Strategic Initiatives
5.2 BAE Systems Inc.
5.2.1 Company Overview
5.2.2 Financial Performance
5.2.3 Product Benchmarking
5.2.4 Strategic Initiatives
5.3 DRS Technologies Inc.
5.3.1 Company Overview
5.3.2 Financial Performance
5.3.3 Product Benchmarking
5.3.4 Strategic Initiatives
5.4 FLIR Systems Inc.
5.4.1 Company Overview
5.4.2 Financial Performance
5.4.3 Product Benchmarking
5.4.4 Strategic Initiatives
5.5 Honeywell
5.5.1 Company Overview
5.5.2 Financial Performance
5.5.3 Product Benchmarking
5.5.4 Strategic Initiatives
5.6 Lockheed Martin
5.6.1 Company Overview
5.6.2 Financial Performance
5.6.3 Product Benchmarking
5.6.4 Strategic Initiatives
5.7 Raytheon Company
5.7.1 Company Overview
5.7.2 Financial Performance
5.7.3 Product Benchmarking
5.7.4 Strategic Initiatives
5.8 Safran, Nippon Avionic
5.8.1 Company Overview
5.8.2 Financial Performance
5.8.3 Product Benchmarking
5.8.4 Strategic Initiatives
5.9 Sofradir EC, Inc
5.9.1 Company Overview
5.9.2 Financial Performance
5.9.3 Product Benchmarking
5.9.4 Strategic Initiatives
5.10 Testo AG
5.10.1 Company Overview
5.10.2 Financial Performance
5.10.3 Product Benchmarking
5.10.4 Strategic Initiatives
5.11 Thermoteknix Systems Ltd,
5.11.1 Company Overview
5.11.2 Financial Performance
5.11.3 Product Benchmarking
5.11.4 Strategic Initiatives
5.12 Ulis
5.12.1 Company Overview
5.12.2 Financial Performance
5.12.3 Product Benchmarking
5.12.4 Strategic Initiatives
CHAPTER 6 METHODOLOGY AND SCOPE
6.1 Research Methodology
6.2 Research Scope & Assumption
6.3 List of Data Sources
1.1 Thermal Imaging - Industry Summary & Critical Success Factors (CSFs)
CHAPTER 2 THERMAL IMAGING INDUSTRY OUTLOOK
2.1 Market Segmentation
2.2 Market Size and Growth Prospects
2.3 Thermal Imaging Value Chain Analysis
2.4 Thermal Imaging Market Dynamics
2.4.1 Key Driver Analysis
2.4.1.1 Availability of cost-effective devices
2.4.1.2 Diverse applications
2.4.2 Key Restraint Analysis
2.4.2.1 Reduced defense budget in developed regions
2.5 Key Opportunities Prioritized
2.6 Industry Analysis - Porter's
2.7 Thermal Imaging - Key Company Analysis, 2013
2.8 Thermal Imaging - PESTEL Analysis
CHAPTER 3 THERMAL IMAGING APPLICATION OUTLOOK
3.1 Military & Defense
3.1.1 Global market estimates and forecasts, by region, (USD Million), 2012 - 2020
3.2 Commercial
3.2.1 Global market estimates and forecasts, by region, (USD Million), 2012 - 2020
3.3 Residential
3.3.1 Global market estimates and forecasts, by region, (USD Million), 2012 - 2020
3.4 Industrial
3.4.1 Global market estimates and forecasts, by region, (USD Million), 2012 - 2020
CHAPTER 4 THERMAL IMAGING REGIONAL OUTLOOK
4.1 North America
4.1.1 Thermal imaging market by application, (USD Million), 2012 - 2020
4.2 Europe
4.2.1 Thermal imaging market by application, (USD Million), 2012 - 2020
4.3 Asia Pacific
4.3.1 Thermal imaging market by application, (USD Million), 2012 - 2020
4.4 RoW
4.4.1 Thermal imaging market by application, (USD Million), 2012 - 2020
CHAPTER 5 THERMAL IMAGING COMPETITIVE LANDSCAPE
5.1 Axis Communications
5.1.1 Company Overview
5.1.2 Financial Performance
5.1.3 Product Benchmarking
5.1.4 Strategic Initiatives
5.2 BAE Systems Inc.
5.2.1 Company Overview
5.2.2 Financial Performance
5.2.3 Product Benchmarking
5.2.4 Strategic Initiatives
5.3 DRS Technologies Inc.
5.3.1 Company Overview
5.3.2 Financial Performance
5.3.3 Product Benchmarking
5.3.4 Strategic Initiatives
5.4 FLIR Systems Inc.
5.4.1 Company Overview
5.4.2 Financial Performance
5.4.3 Product Benchmarking
5.4.4 Strategic Initiatives
5.5 Honeywell
5.5.1 Company Overview
5.5.2 Financial Performance
5.5.3 Product Benchmarking
5.5.4 Strategic Initiatives
5.6 Lockheed Martin
5.6.1 Company Overview
5.6.2 Financial Performance
5.6.3 Product Benchmarking
5.6.4 Strategic Initiatives
5.7 Raytheon Company
5.7.1 Company Overview
5.7.2 Financial Performance
5.7.3 Product Benchmarking
5.7.4 Strategic Initiatives
5.8 Safran, Nippon Avionic
5.8.1 Company Overview
5.8.2 Financial Performance
5.8.3 Product Benchmarking
5.8.4 Strategic Initiatives
5.9 Sofradir EC, Inc
5.9.1 Company Overview
5.9.2 Financial Performance
5.9.3 Product Benchmarking
5.9.4 Strategic Initiatives
5.10 Testo AG
5.10.1 Company Overview
5.10.2 Financial Performance
5.10.3 Product Benchmarking
5.10.4 Strategic Initiatives
5.11 Thermoteknix Systems Ltd,
5.11.1 Company Overview
5.11.2 Financial Performance
5.11.3 Product Benchmarking
5.11.4 Strategic Initiatives
5.12 Ulis
5.12.1 Company Overview
5.12.2 Financial Performance
5.12.3 Product Benchmarking
5.12.4 Strategic Initiatives
CHAPTER 6 METHODOLOGY AND SCOPE
6.1 Research Methodology
6.2 Research Scope & Assumption
6.3 List of Data Sources
LIST OF TABLES
1. Thermal imaging – Industry Summary & Critical Success Factors (CSFs)
2. Global thermal imaging market, (USD Million), 2012 - 2020
3. Global thermal imaging market by region, (USD Million), 2012 - 2020
4. Global thermal imaging market by application, (USD Million), 2012 - 2020
5. Global thermal imaging market demand in military & defense applications, (USD Million), 2012 – 2020
6. Global thermal imaging market demand in military & defense applications by region, (USD Million), 2012 - 2020
7. Global thermal imaging market demand in commercial applications, (USD Million), 2012 – 2020
8. Global thermal imaging market demand in commercial applications by region, (USD Million), 2012 - 2020
9. Global thermal imaging market demand in residential applications, (USD Million), 2012 – 2020
10. Global thermal imaging market demand in residential applications by region, (USD Million), 2012 - 2020
11. Global thermal imaging market demand in industrial applications, (USD Million), 2012 – 2020
12. Global thermal imaging market demand in industrial applications by region, (USD Million), 2012 - 2020
13. North America thermal imaging market by application (USD Million), 2012 - 2020
14. Europe thermal imaging market by application (USD Million), 2012 - 2020
15. Asia Pacific thermal imaging market by application (USD Million), 2012 - 2020
16. RoW thermal imaging market by application (USD Million), 2012 - 2020
1. Thermal imaging – Industry Summary & Critical Success Factors (CSFs)
2. Global thermal imaging market, (USD Million), 2012 - 2020
3. Global thermal imaging market by region, (USD Million), 2012 - 2020
4. Global thermal imaging market by application, (USD Million), 2012 - 2020
5. Global thermal imaging market demand in military & defense applications, (USD Million), 2012 – 2020
6. Global thermal imaging market demand in military & defense applications by region, (USD Million), 2012 - 2020
7. Global thermal imaging market demand in commercial applications, (USD Million), 2012 – 2020
8. Global thermal imaging market demand in commercial applications by region, (USD Million), 2012 - 2020
9. Global thermal imaging market demand in residential applications, (USD Million), 2012 – 2020
10. Global thermal imaging market demand in residential applications by region, (USD Million), 2012 - 2020
11. Global thermal imaging market demand in industrial applications, (USD Million), 2012 – 2020
12. Global thermal imaging market demand in industrial applications by region, (USD Million), 2012 - 2020
13. North America thermal imaging market by application (USD Million), 2012 - 2020
14. Europe thermal imaging market by application (USD Million), 2012 - 2020
15. Asia Pacific thermal imaging market by application (USD Million), 2012 - 2020
16. RoW thermal imaging market by application (USD Million), 2012 - 2020
LIST OF FIGURES
1. Thermal Imaging Market Segmentation
2. Global Thermal Imaging market, (USD Million), 2012 - 2020
3. Thermal Imaging value chain analysis
4. Thermal Imaging market dynamics
5. Thermal Imaging - Key company analysis, 2013
6. Key Opportunities Prioritized
7. Industry Analysis - Porter's
8. Thermal Imaging PESTEL Analysis, 2013
9. Thermal Imaging market share by application, 2013 & 2020
10. Global thermal imaging market demand in military & defense applications, (USD Million), 2012 - 2020
11. Global thermal imaging market demand in commercial applications, (USD Million), 2012 - 2020
12. Global thermal imaging market demand in residential applications, (USD Million), 2012 – 2020
13. Global thermal imaging market demand in industrial applications, (USD Million), 2012 - 2020
14. Thermal imaging market share by region, 2013 & 2020
15. North America thermal imaging market, by application, (USD Million), 2012 - 2020
16. Europe thermal imaging market, by application, (USD Million), 2012 - 2020
17. Asia Pacific thermal imaging market, by application, (USD Million), 2012 - 2020
18. RoW thermal imaging market, by application, (USD Million), 2012 - 2020
1. Thermal Imaging Market Segmentation
2. Global Thermal Imaging market, (USD Million), 2012 - 2020
3. Thermal Imaging value chain analysis
4. Thermal Imaging market dynamics
5. Thermal Imaging - Key company analysis, 2013
6. Key Opportunities Prioritized
7. Industry Analysis - Porter's
8. Thermal Imaging PESTEL Analysis, 2013
9. Thermal Imaging market share by application, 2013 & 2020
10. Global thermal imaging market demand in military & defense applications, (USD Million), 2012 - 2020
11. Global thermal imaging market demand in commercial applications, (USD Million), 2012 - 2020
12. Global thermal imaging market demand in residential applications, (USD Million), 2012 – 2020
13. Global thermal imaging market demand in industrial applications, (USD Million), 2012 - 2020
14. Thermal imaging market share by region, 2013 & 2020
15. North America thermal imaging market, by application, (USD Million), 2012 - 2020
16. Europe thermal imaging market, by application, (USD Million), 2012 - 2020
17. Asia Pacific thermal imaging market, by application, (USD Million), 2012 - 2020
18. RoW thermal imaging market, by application, (USD Million), 2012 - 2020
