Thermal Imaging Market Report 2025

The thermal imaging market size has grown rapidly in recent years. It will grow from $7.57 billion in 2024 to $8.36 billion in 2025 at a compound annual growth rate (CAGR) of 10.4%. The growth in the historic period can be attributed to military and defense applications, industrial inspections, building and infrastructure inspections, law enforcement and public safety, medical diagnosis.

The thermal imaging market size is expected to see rapid growth in the next few years. It will grow to $13.31 billion in 2029 at a compound annual growth rate (CAGR) of 12.3%. The growth in the forecast period can be attributed to surveillance and security needs, infrastructure development, firefighting and emergency response, health screening, automotive safety. Major trends in the forecast period include focus on high-resolution thermal imaging for surveillance, application of thermal imaging in building and infrastructure inspection, innovation in thermal imaging for agricultural and environmental monitoring, utilization of thermal imaging in industrial predictive maintenance, development of multi-spectral thermal imaging solutions.

The rising government spending in the aerospace and defense sector is significantly propelling the growth of the thermal imaging market. This technology plays a crucial role in surveillance and observation within industries that require enhanced monitoring capabilities. For example, in April 2024, the Stockholm International Peace Research Institute, a Sweden-based international organization, reported that global military expenditure reached $2.44 trillion in 2023, marking a real-term increase of 6.8 percent compared to 2022. The top ten military spenders, including the United States, China, and Russia, all increased their defense budgets during this period. Consequently, the heightened investment in the defense sector is driving the thermal imaging market forward.

The thermal imaging market anticipates growth driven by escalating demand from the automotive industry. In this sector, thermal imaging aids in diagnosing vehicle issues by detecting heat anomalies in components, facilitating maintenance. For example, global vehicle production reached 85.4 million units in 2022, up by 5.7% from the previous year, as reported by the European Automobile Manufacturers' Association (ACEA), emphasizing the automotive industry's impact on driving the thermal imaging market.

Technological progression stands as a prominent trend influencing the thermal imaging market. Leading companies in this sector concentrate on pioneering technological solutions to fortify their market presence. InfiRay, a China-based technology firm, introduced an array of thermal imaging innovations in July 2023. These advancements encompass infrared detectors, thermal camera modules, night vision cameras, and thermographic cameras for temperature measurement. Their patented dual FOV objective lens offers versatile wide and narrow field of view options, delivering unparalleled image quality alongside user-friendly features, HD display, extended battery life, durable housing, and ample internal memory.

Major players in the thermal imaging market concentrate on pioneering products such as the thermal imaging camera to cater to customer needs reliably. A thermal imaging camera, leveraging infrared technology, captures images based on emitted heat from objects, transcending visible light limitations. Seek Thermal's FirePRO 300 launch in April 2023 exemplifies this trend. This camera introduces Seek Thermal's unique Mixed Gain mode, enabling firefighters to perceive extreme heat and cold simultaneously in one image, enhancing detail visibility and providing superior situational awareness.

In December 2023, Sportsmap Tech Acquisition Corp., a US-based blank check company, acquired Infrared Cameras Holdings Inc. for an undisclosed sum. This acquisition aims to serve as a foundational step in generating long-term returns for the company's shareholders. Infrared Cameras Holdings Inc. is a US-based company that specializes in designing, developing, and manufacturing FLIR and SWIR thermal imaging infrared cameras and systems.

Major companies operating in the thermal imaging market include RTX Corporation, Canon Inc., BAE Systems plc, L3HARRIS Technologies Inc., Hangzhou Hikvision Digital Technology Co Ltd., Zhejiang ULIRvision Technology Co Ltd., Leonardo S.p.A., Teledyne Technologies Incorporated, Sofradir SAS, FLIR Systems Inc., Axis Communications AB, Fluke Corporation, Jenoptik AG, Testo SE & Co KGaA, Wuhan Guide Sensmart Tech Co Ltd., Guide Infrared Co Ltd., Nippon Avionics Co Ltd., Thermoteknix Systems Ltd., InfraTec Infrared LLC, Xenics NV, Opgal Optronic Industries Ltd., Cantronic Systems Inc., Tonbo Imaging Pvt Ltd., MoviTHERM, New Imaging Technologies, Seek Thermal Inc., Argus Thermal Imaging Cameras.

North America was the largest region in the thermal imaging market in 2024. The regions covered in the thermal imaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the thermal imaging market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Thermal imaging technology utilizes infrared radiation and thermal energy to create visible images of objects, facilitating visibility in low-light environments by translating thermal energy into visible light.

In the realm of thermal imaging, key products include thermal cameras, thermal scopes, and thermal modules. Thermal imaging cameras function by converting thermal energy into visible light, facilitating analysis of specific objects or scenes. These cameras utilize diverse technologies such as cooled and uncooled systems, employing wavelengths such as shortwave infrared, mid-wave infrared, and long-wave infrared. Their applications span across thermography, surveillance, personal vision systems, firefighting, ruggedized smartphones, and various other uses. These technologies find utility in sectors such as aerospace and defense, law enforcement, healthcare, automotive, oil and gas, residential purposes, manufacturing, and beyond.

The thermal imaging market research report is one of a series of new reports that provides thermal imaging market statistics, including thermal imaging industry global market size, regional shares, competitors with a thermal imaging market share, detailed thermal imaging market segments, market trends and opportunities, and any further data you may need to thrive in the thermal imaging industry. This thermal imaging market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The thermal imaging market consists of revenues earned by entities by providing thermal imaging services such as gathering and analysis of thermal radiation, infrared thermal imaging services, detect radiation. The market value includes the value of related goods sold by the service provider or included within the service offering. The thermal imaging market also includes sales of computers, infrared thermal camera, thermometers which are used in providing thermal imaging services. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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