Thermal Camera Market Size is likely to grow over 2021-2027, on account of the introduction of advanced thermal imaging cameras for automotive applications. For example, there are handheld thermal cameras designed to help automotive technicians accurately diagnose issues like clogged thermostats and engine misfires. Likewise, escalating adoption of thermal camera technology in the military sector to help ground troops detect temperature differences between enemy forces and inanimate objects will push the industry demand.
Thermal camera or thermographic camera refers to a device used to capture images in the infrared spectrum. It can detect radiation in the electromagnetic spectrum’s long-infrared range, and later produce images of that radiation, known as thermograms. Since this radiation is emitted by objects with temperatures above absolute zero, thermography enables users to analyze a particular scene or object with or without visible illumination.
Growing awareness about the advantages of using infrared cameras in various demanding applications like surveillance is one of the key factors fostering market trends. In 2020, BAE Systems Sensor Solutions introduced a high-definition thermal camera, the Athena 1920, for demanding and long-range applications in surveillance, security, and targeting systems. Mounting usage of thermography as a non-destructive testing method in the aerospace & defense sector to detect structural flaws will also amplify product usage across multiple industries.
The fixed/mounted segment is poised to depict a strong growth rate through 2027. This is credited to the escalating use of fixed mount thermal camera systems in medical thermography to conduct objective and non-invasive medical imaging procedures. Growth from the segment is further driven by the increasing acceptance of non-contact measurement technology for remote patient monitoring and temperature control.
North America thermal camera market is anticipated to register considerable revenue by 2027, owing to the high military spending. The U.S. has one of the highest defense budgets across the world and invests heavily on security and surveillance systems, include thermal scopes and googles. Growing sales of infrared thermal imaging devices, particularly during the coronavirus pandemic, has further expedited the regional growth with the need to monitor the spread of the virus.
Key players operating in the market include SATIR, FLIR Systems, Inc. (Teledyne Technologies), Zhejiang Dali Technology Co. Ltd., Axis Communications AB (Canon), Lynred, and Opgal, among others. These companies are focusing on new product launches and mergers and acquisitions to reinforce their presence across the global market. For example, in October 2020, FLIR Systems unveiled its new advanced thermal imaging cameras, the E96, E86, E76, and E54, with enhanced thermal resolutions as compared to their predecessors. These thermal cameras were designed to offer vibrant, easy-to-read images, and are equipped with on-camera routing capability to boost field survey efficiency.
With the oil and gas industry locked into a cycle of low prices, oversupply, and volatility, the economic crisis posed by the ongoing coronavirus pandemic may deal a major blow to several companies. The industry is also likely to face prolonged, substantially reduced demand, due to the shifting focus towards green energy and low economic activity. Factors such as these may limit oil and gas activities, and in turn create challenges to the deployment of thermal camera technology to some extent.
However, the extensive usage of thermal imaging devices in the military sector during the outbreak may aid the industry recovery. As a part of the response to COVID-19, three army programs, namely the Program Executive Office Soldier, the Army Rapid Equipping Force, and the C5ISR Center of U.S. Army DEVCOM, led an initiative to adopt thermal imaging cameras to facilitate body temperature screening of personnel entering the military facilities.