Thermal imaging technology is widely adopted by the defense sector all over the world to help soldiers in low light conditions. The global military thermal imaging market, according to Market Research Future (MRFR)’s report, is anticipated to strike 6% CAGR across the review period 2018 to 2025. Also, it has been assessed that the market is poised to reach a decent valuation by the end of 2025.
Lockheed Martin (US), Thales Group (France), Aselsan (Turkey), Rafael Advanced Defense Systems Ltd. (Israel), Raytheon Company (US), L-3 Technologies (US), Northrop Grumman (US), Ultra Electronics (UK), MOOG Inc. (US), Israel Aerospace Industries (Israel), Flir Systems (US), and Qioptik (Paris) are few of the important manufacturers operating in the global military thermal imaging market.
These players are anticipated to increase their investments in next-gen technologies to stay ahead of the curve. The study suggests that the market is prognosticated to remain highly competitive over the next couple of years. Other growth trajectories that are poised to be observed in the military thermal imaging market in the years to come are product developments, mergers & acquisitions, partnerships with end-users, agreements with defense ministries, etc.
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Increasing terrorist threats and cross border conflicts are expected to fuel demand for thermal imaging technology on the global front. In addition, the rising demand for the technology owing to rising civil unrest in certain regions such as Kashmir in India, Syria, Yemen, etc. are expected to influence the military thermal imaging market positively.
The technology is also used as a measure to modernize existing equipment. This, in turn, is likely to unleash developmental opportunities for the market players. However, the cost cutting being observed by the defense ministries in developed and developing economies is likely to check the expansion of the market in the foreseeable future.
Industry News:
In September 2019, the Defense Research and Development Organization (DRDO), India, has launched indigenous Thermal Imaging (TI) Night Vision Devices (NVD) for army tanks to strike enemies at night.
In September 2019, the night vision segment of the L3Harris Technologies Inc. has struck a deal with the U.S. Marines for the supply of night-vision goggles with light amplification and thermal imaging.
Intended Audience
- Camera component manufacturers
- Security services providers
- Software developers
- Component providers
- Regulatory bodies
- Government authorities
- Research institutes
- Regulatory bodies
Market Segmentation:
By type, the Global Military Thermal Imaging Market has been segmented into camera, module, and scope.
On the basis of application, the military thermal imaging market has been segmented into security & surveillance, monitoring & inspection, target detection, situational awareness, and others.
Based on end-user, the global military thermal imaging market has been segmented into airborne, naval, and land.
On the basis of the platform, the military thermal imaging market has been bifurcated into man-portable and fixed mounted.
Regional Analysis:
The geographical analysis of the global military thermal imaging market included in this study has profiled five regions which are further assessed on a country-level basis. These key regions of the market are – Asia Pacific (APAC), North America, the Middle East & Africa (MEA), Latin America, and Europe. Asia Pacific plays a substantial role in the development of the global market. The rising conflicts in North Korea, Pakistan, India, Afghanistan, China, etc. are expected to boost the growth of the military thermal imaging market over the next couple of years. Increasing cross border conflicts, as well as threats imposed by the terrorists, are anticipated to expedite the growth pace of the market in the years to come. North America and Europe are the important growth pockets expected to add to the revenues earned by the global market players across the assessment period.
Research Methodology
The market values and forecasts are derived using MRFR research methodology, which includes secondary research, primary interviews, data triangulation, and validation from an in-house data repository and statistical modeling tools.
Secondary Research
In this process, data is collected from various secondary sources, including annual reports, SEC filings, journals, government associations, aerospace & defense magazines, white papers, corporate presentations, company websites, and paid databases.
Primary Research
In this process, both the demand- and supply-side parties are interviewed to extract facts and insights into the market forecast, production, trends, and projected market growth. Industry stakeholders such as CEOs, VPs, directors, and marketing executives across the value chain are approached to obtain key information.
Key Insights
- Market sizing, forecast, and analysis: detailed coverage of the market segment and sub-segments
- Regional/country trends and forecast: detailed analysis of the market in North America, Asia-Pacific, Europe, the Middle East & Africa, and Latin America, along with key countries in each region
- Market dynamics intelligence: market drivers, opportunities, trends, restraints, Porter’s five forces, supply chain, and value chain analysis
- Technology trends, regulatory landscape, and patent analysis outlook
- Competitive intelligence: market share analysis, financial analysis, product benchmarking, and strategic developments including joint ventures, product launches, and mergers & acquisitions
- Regional attractiveness and related growth opportunities
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Table of Contents
1 Executive Summary
1.1 Market Attractiveness Analysis
1.1.1. Global Military Thermal Imaging Market, by Type
1.1.2. Global Military Thermal Imaging Market, by Application
1.1.3. Global Military Thermal Imaging Market, by Platform
1.1.4. Global Military Thermal Imaging Market, by End User
1.1.5. Global Military Thermal Imaging Market, by Region
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.3 Research Process
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat of New Entrants
3.1.2 Bargaining Power of Buyers
3.1.3 Threat of Substitutes
3.1.4 Segment Rivalry
3.1.5 Bargaining Power of Buyers
3.2 Value Chain/supply Chain Analysis
Continued…….
List of Tables
Table 1 Global Military Thermal Imaging Market, by Region, 2018–2025
Table 2 North America Military Thermal Imaging Market, by Country, 2018–2025
Table 3 Europe Military Thermal Imaging Market, by Country, 2018–2025
Table 4 Asia-pacific Military Thermal Imaging Market, by Country, 2018–2025
Table 5 Middle East & Africa Military Thermal Imaging Market, by Country, 2018–2025
Continued……….
List of Figures
Figure 1 Research Process of Mrfr
Figure 2 Top-down and Bottom-up Approaches
Figure 3 Market Dynamics
Figure 4 Impact Analysis: Market Drivers
Figure 5 Impact Analysis: Market Restraints
Figure 6 Porter’s Five Forces Analysis
Figure 7 Value Chain Analysis
Continued……
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