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Thermal Imaging Market growing at a CAGR of 5.5% during 2021-2026

Thermal Imaging Market is projected to grow from USD 3.6 billion in 2021 to USD 4.7 billion by 2026, growing at a CAGR of 5.5% during the forecast period. The key factors driving the growth of the global thermal imaging market include Increasing government expenditure on the aerospace & defense sector boosting the growth of the thermal imaging market, increasing adoption of thermal imaging in the automotive industry, growing R&D investments by companies, governments, and capital firms for developing innovative thermal imaging solutions, and others.

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Thermal Imaging Market growing at a CAGR of 5.5% during 2021-2026

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  1. MarketsandMarkets Presents Thermal Imaging Market growing at a CAGR of 5.5% during 2021-2026 Thermal Imaging Market with COVID-19 Impact and Analysis, by Product Type (Modules, Cameras, Scopes), Type (Handheld and Standstill), Technology(Cooled, Uncooled), Application, Wavelength(SWIR, MWIR, LWIR), Vertical, and Region - Global Forecast to 2026 https://www.marketsandmarkets.com/Market-Reports/thermal-imaging-market-1300.html

  2. According to the new market research report "Thermal Imaging Market with COVID-19 Impact and Analysis, by Product Type (Modules, Cameras, Scopes), Type (Handheld and Standstill), Technology (Cooled, Uncooled), Application, Wavelength (SWIR, MWIR, LWIR), Vertical, and Region - Global Forecast to 2026", published by MarketsandMarkets™, the Thermal Imaging Market is projected to grow from USD 3.6 billion in 2021 to USD 4.7 billion by 2026, growing at a CAGR of 5.5% during the forecast period. The key factors driving the growth of the global thermal imaging market include Increasing government expenditure on the aerospace & defense sector boosting the growth of the thermal imaging market, increasing adoption of thermal imaging in the automotive industry, growing R&D investments by companies, governments, and capital firms for developing innovative thermal imaging solutions, and others. Browse 137 market data Tables and 57 Figures spread through 220 Pages and in-depth TOC on "Thermal Imaging Market with COVID-19 Impact and Analysis- Global Forecast to 2026"

  3. Thermal cameras segment to account for the largest share of thermal imaging market during the forecast period On the basis of product types, the thermal imaging market has been segmented into three categories—thermal cameras, thermal scopes, and thermal modules. The thermal cameras segment held the largest share of the thermal imaging market in 2020 and is expected to continue this growth during the forecast period. Several reasons, such as an electronic image of high-quality precision produced in less time and the availability in different types (handheld, mounted, and standalone) and various micro-and nano-sizes, contribute to this dominance. Ask PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1300 Security and surveillance segment to account for the largest share of thermal imaging market during the forecast period Based on applications, the thermal imaging market has been segmented into security and surveillance, monitoring and inspection, and detection and measurement. The security and surveillance segment held the largest share of the thermal imaging market during the forecast period. Rapid urbanization increases the demand for advanced thermal imaging solutions for security and surveillance applications. The rising conflicts and terrorist activities among countries also increase the demand for well-equipped systems to monitor the country's borders from the illegal intrusion of enemies and protect the country from them.

  4. North America to account for the largest share of thermal imaging market during the forecast period Among all regions, North America accounted for the largest share of the thermal imaging market and is expected to continue this growth during the forecast period. The region is home to the major producers of thermal imaging components, such as thermal cameras, scopes, and modules. The US is the major contributor to this region and accounts for ~89% of the total thermal imaging market share in North America. The growth of the thermal imaging market in this region is attributed to the presence of numerous manufacturers and distributors, the low cost of thermal imaging components, and the increasing government expenditure in the aerospace & defense sector. Request Free Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=1300 Some of the key companies operating in the market are FLIR Systems (US), Fluke Corporation (US), Leonardo (Italy), L3HARRIS TECHNOLOGIES (US), United Technologies (US), Axis Communications (Sweden), BAE Systems (UK), Opgal (Israel), Testo (Germany), Xenics (Belgium), Thermoteknix Systems (UK), and so on.

  5. COVID-19 Impact on the Global Thermal Imaging Market The outbreak and spread of COVID-19 have led to a slowdown in global economic growth. It has adversely affected several industries, including the thermal imaging industry. Companies are planning and working on keeping their businesses operational. Manufacturing and distributing products are the key challenges faced by companies. Several countries worldwide have imposed or prolonged lockdowns to contain the spread of the pandemic, which has resulted in disruptions in the supply chain of the thermal imaging market. Challenge: Thermal cameras do not work through glass and water Thermal cameras detect heat energy dissipated by the human body, animal, or any structure. The camera produces heat patterns and an image based on them, which helps investigate defects, threats, or other possibilities. Thermal imaging cameras do not work through glass and water because glass allows visible light to pass through it, but it acts as a mirror for thermal wavelengths. If a thermal camera is held in front of the glass, it will produce an image of the person holding the thermal camera. The image produced will be a blur and will lack significant detail and contrast.

  6. About MarketsandMarkets MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations early to the market by providing them research ahead of the curve. MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of markets.

  7. Contact Us Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA : 1-888-600-6441 For More Info: https://www.marketsandmarkets.com/PressReleases/thermal-imaging.asp

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