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(IT-NEWSWIRE.COM, September 13, 2018 ) The Global Thermal Imaging Market was valued at USD 7.92 billion in 2016 and is projected to reach USD 13.39 billion by 2025, growing at a CAGR of 6.01% from 2017 to 2025.
Thermal Imaging is a process by which the visibility of an object in a dark environment can be improved. This is done by being able to distinguish the object by its infrared radiation and thereby creating an image based on the radiation emitted from the object. Thermal imaging can be used in several situations and environments without the need for any ambient light. The imaging system can penetrate most disturbances such as haze, smoke or fog. This system can be used for a variety of implementations such as the identification of electric problems, determination of electric performance and more.
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There is a growing demand for thermal imaging and therefore cameras due to their low cost as well as increasing commercial applications, these factors are driving the market for thermal imaging as it is increasing the demand of thermal imaging solutions. Factors that are restraining the thermal imaging market is the competition it faces with other highly accurate cameras as well as the budget restrictions.
Competitive Landscape:
The major players in the market are as follows:
DRS Technologies, Inc.
Thermoteknix Systems Ltd.
Honeywell International, Inc.
BAE Systems
Raytheon Company
L-3 Communications Holdings, Inc.
AXIS Communications
Fluke Corporation (Fortive Corporation)
Flir Systems, Inc.
Testo AG
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