Thermal Imaging Market by Component (Hardware, Software, Services), Application (Surveillance, Threat Detection, Radiology, Automotive, and Others), End User (Military & Defense and Industrial, Commercial & Residential), and Region - Global Forecast to 2021

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Date: 02-Sep-2016
No. of pages: 162
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“Decline in the prices of thermal cameras and surging demand for thermal cameras in smartphones and all commercial applications are driving the thermal imaging market”

The global thermal imaging market size is estimated to grow from USD 7.71 billion in 2016 to USD 10.27 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 5.9%. The thermal imaging market is driven by factors such as declining prices of thermal cameras and their surging demand in all commercial applications such as automotive, veterinary, intelligent transportation systems, and many others.

“The automotive application market is expected to gain high traction during the forecast period”

The automotive application market is estimated to grow with the highest CAGR during the forecast period. Automotive application is gaining traction in the market as thermal cameras help the driver detect objects, animals, and pedestrians on the road even in difficult visibility conditions. Moreover, theses cameras also help drivers to know about approaching curves in advance; see road edges better; and to see through dust, smoke, light fog, rain, and total darkness.

“North America is expected to contribute the largest market share during the forecast period”

North America has captured the largest market share in 2016. This region is witnessing rapid growth of thermal imaging products and services by endusers due to the decline in the prices of thermal cameras. The stern non-compliance measure adopted by the government and various regulatory bodies in the region has given a thrust to thermal imaging products and services, which is expected to gain further traction in this region in the forecast period. North America is also the fastest growing region with the highest CAGR. This region offers potential growth opportunities due to the presence of a large number of thermal imaging vendors.

In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people. The break-up of profiles of primary participants is given below:


  • By Company Type: Tier 1: 33%, Tier 2: 27%, and Tier 3: 40%

  • By Designation: C level: 35%, Director level: 25%, and Others: 40%

  • By Region: North America: 52%, Europe: 20%, Asia-Pacific (APAC): 20%, Rest of the World (RoW): 8%


The latest trends in thermal imaging include thermal imaging cameras for smartphones. Declining thermal camera prices and their surging demand in smartphones and all commercial applications are driving the thermal imaging market, which is improving the overall business value. The thermal imaging market is consumer driven and its major endusers are military & defense and industrial, commercial & residential sectors. Moreover, the market in APAC is gaining traction due to increasing economic growth and high defense spending.  

The various key thermal imaging vendors profiled in the report are as follows:


  • FLIR Systems, Inc. (Wilsonville, Oregon, U.S.)

  • Fluke Corporation (Washington, U.S.)

  • Bae Systems (London, U.K.)

  • L-3 Communications Holdings, Inc. (New York, U.S.)

  • DRS Technologies, Inc. (Arlington, Virginia, U.S.)

  • Axis Communications (Lund, Sweden)

  • Honeywell International, Inc.(New Jersey, U.S.)

  • Raytheon Company (Waltham, Massachusetts, U.S.)

  • Thermoteknix Systems Ltd. (Cambridge, U.K.)

  • Testo AG (Lenzkirch, Germany)


Report Objectives:


  • To define, describe, and forecast the global thermal imaging market on the basis of components, applications, endusers, and regions

  • To provide detailed information regarding the key factors influencing market growth (drivers, restraints, opportunities, and challenges)

  • To strategically analyze micro-markets with respect to individual growth trends, future prospects, and contribution to the total market size

  • To forecast the market size of market segments with respect to five main regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and Latin America

  • To analyze the opportunities in the market for stakeholders and provide strategic profiles of the key players in the market to comprehensively analyze the core competencies and draw competitive landscape for the market

  • To track and analyze competitive developments such as Mergers and Acquisitions (M&A), new product developments, and Research and Development (R&D) activities in the market


Key Target Audience:


  • Thermal imaging vendors

  • Research organizations

  • Government agencies

  • Consulting companies

  • Value-added resellers


Market Segmentation:

The research report segments the thermal imaging market into the following submarkets:

By Component:


  • Hardware

  • Software

  • Services


By Application:


  • Surveillance(airborne, maritime, land)

  • Threat detection

  • Surveys

  • Predictive maintenance

  • Radiology

  • Intelligent transportation system

  • Commercial and residential security

  • Personal vision

  • Firefighting

  • Research and development

  • Automotive

  • Veterinary

  • Others


By End User:


  • Military and defense

  • Industrial, commercial, and residential


By Region:


  • North America

  • Europe

  • APAC

  • MEA

  • Latin America

Thermal Imaging Market by Component (Hardware, Software, Services), Application (Surveillance, Threat Detection, Radiology, Automotive, and Others), End User (Military & Defense and Industrial, Commercial & Residential), and Region - Global Forecast to 2021

Table of Contents

1 Introduction
1.1 Objectives of the Report
1.2 Market Definition
1.3 Market Scope
1.3.1 Markets Covered
1.3.2 Years Considered in the Report
1.4 Currency
1.5 Limitations
1.6 Stakeholders

2 Research Methodology
2.1 Introduction
2.2 Research Data
2.2.1 Secondary Data
2.2.1.1 Key Data From Secondary Sources
2.2.2 Primary Data
2.2.2.1 Key Data From Primary Sources
2.2.2.2 Key Industry Insights
2.3 Market Size Estimation
2.3.1 Bottom-Up Approach
2.3.2 Top-Down Approach
2.4 Market Breakdown and Data Triangulation
2.5 Research Assumptions

3 Executive Summary

4 Premium Insights
4.1 Attractive Market Opportunities in the Thermal Imaging Market
4.2 Market, By Component
4.3 Market, By End-User
4.4 Global Market, By Application and By Region, 2016
4.5 Lifecycle Analysis, By Region

5 Market Overview
5.1 Introduction
5.2 Evolution
5.3 Market Segmentation
5.3.1 By Component
5.3.2 By Application
5.3.3 By End-User
5.3.4 By Region
5.4 Market Dynamics
5.4.1 Drivers
5.4.1.1 Increasing Demand for Thermal Cameras in Smartphones
5.4.1.2 Declining Prices of Thermal Cameras
5.4.1.3 Rising Demand for Thermal Imaging Cameras in All Commercial Applications
5.4.2 Restraints
5.4.2.1 Decline in Defense Budget
5.4.2.2 Availability of Alternative Technologies
5.4.3 Opportunities
5.4.3.1 Emergence of Integrated Solutions
5.4.3.2 Rising Demand for Thermal Imaging Services
5.4.4 Challenges
5.4.4.1 Designing Highly Accurate Cameras

6 Industry Trends
6.1 Introduction
6.2 Value Chain Analysis
6.3 Strategic Benchmarking

7 Thermal Imaging Market Analysis, By Component
7.1 Introduction
7.2 Hardware
7.3 Software
7.4 Services

8 Thermal Imaging Market Analysis, By Application
8.1 Introduction
8.2 Surveillance
8.2.1 Airborne Systems
8.2.2 Maritime Systems
8.2.3 Land Systems
8.3 Threat Detection
8.4 Surveys
8.5 Predictive Maintenance
8.6 Radiology
8.7 Intelligent Transportation Systems
8.8 Commercial and Residential Security
8.9 Personal Vision
8.10 Firefighting
8.11 Research and Development
8.12 Automotive
8.13 Veterinary
8.14 Others

9 Thermal Imaging Market Analysis, By End-User
9.1 Introduction
9.2 Military and Defence
9.3 Industrial, Commercial, and Residential

10 Geographic Analysis
10.1 Introduction
10.2 North America
10.3 Europe
10.4 Asia-Pacific
10.5 Middle East and Africa
10.6 Latin America

11 Competitive Landscape
11.1 Overview
Competitive Situation and Trends
11.1.1 New Product Launches
11.1.2 Partnerships, Agreements, Contracts, and Collaborations
11.1.3 Acquisitions
11.1.4 Expansions

12 Company Profiles
12.1 Introduction
12.2 Flir Systems, Inc.
12.2.1 Business Overview
12.2.2 Products and Services Offered
12.2.3 Recent Developments
12.2.4 MnM View
12.2.4.1 Key Strategies
12.2.4.2 SWOT Analysis
12.3 Fluke Corporation (Fortive Corporation)
12.3.1 Business Overview
12.3.2 Products and Services Offered
12.3.3 Recent Developments
12.3.4 MnM View
12.3.4.1 Key Strategies
12.3.4.2 SWOT Analysis
12.4 BAE Systems
12.4.1 Business Overview
12.4.2 Products and Services Offered
12.4.3 Recent Developments
12.4.4 MnM View
12.4.4.1 Key Strategies
12.4.4.2 SWOT Analysis
12.5 L-3 Communications Holdings, Inc.
12.5.1 Business Overview
12.5.2 Solutions and Services Offered
12.5.3 Recent Developments
12.5.4 MnM View
12.5.4.1 Key Strategies
12.5.4.2 SWOT Analysis
12.6 Drs Technologies, Inc.
12.6.1 Business Overview
12.6.2 Products  Offered
12.6.3 Recent Developments
12.6.4 MnM View
12.6.4.1 Key Strategies
12.6.4.2 SWOT Analysis
12.7 Axis Communications
12.7.1 Business Overview
12.7.2 Products Offered
12.7.3 Recent Developments
12.8 Honeywell International, Inc.
12.8.1 Business Overview
12.8.2 Products Offered
12.8.3 Recent Developments
12.9 Raytheon Company
12.9.1 Business Overview
12.9.2 Products Offered
12.9.3 Recent Developments
12.10 Thermoteknix Systems Ltd.
12.10.1 Business Overview
12.10.2 Products Offered
12.10.3 Recent Developments
12.11 Testo AG
12.11.1 Business Overview
12.11.2 Products Offered
12.11.3 Recent Developments

13 Key Innovators
13.1 ICI Infrared Cameras, Inc.
13.1.1 Business Overview
13.2 Lockheed Martin Corporation
13.2.1 Business Overview
13.3 Nippon Avionics Co. Ltd.
13.3.1 Business Overview
13.4 Sofradir Group
13.4.1 Business Overview

14 Appendix
14.1 Key Industry Insights
14.2 Other Key Developments
14.2.1 New Product Launches, 2013–2016
14.2.2 Partnerships, Agreements, Contracts, and Collaborations, 2013–2016
14.3 Discussion Guide
14.4 Introducing RT: Real-Time Market Intelligence
14.5 Available Customizations
14.6 Related Reports

List of Tables

Table 1 Thermal Imaging Market Size and Growth, 2014–2021 (USD Billion)
Table 2 Thermal Imaging Camera Shipments, 2014–2021 (Thousand Units)
Table 3 Market Size, By Component, 2014–2021 (USD Million)
Table 4 Hardware: Market Size, By Region, 2014–2021 (USD Million)
Table 5 Software: Market Size, By Region, 2014–2021 (USD Million)
Table 6 Services: Market Size, By Region, 2014–2021 (USD Million)
Table 7 Thermal Imaging Market Size, By Application, 2014–2021 (USD Million)
Table 8 Surveillance: Market Size, By Type, 2014–2021 (USD Million)
Table 9 Surveillance: Thermal Imaging Market Size, By Region, 2014–2021 (USD Million)
Table 10 Airborne Systems: Market Size, By Region, 2014–2021 (USD Million)
Table 11 Maritime Systems: Market Size, By Region, 2014–2021 (USD Million)
Table 12 Land Systems: Market Size, By Region, 2014–2021 (USD Million)
Table 13 Threat Detection: Market Size, By Region, 2014–2021 (USD Million)
Table 14 Surveys: Market Size, By Region, 2014–2021 (USD Million)
Table 15 Predictive Maintenance: Market Size, By Region, 2014–2021 (USD Million)
Table 16 Radiology: Market Size, By Region, 2014–2021 (USD Million)
Table 17 Intelligent Transportation Systems: Thermal Imaging Market Size, By Region, 2014–2021 (USD Million)
Table 18 Commercial and Residential Security: Market Size, By Region, 2014–2021 (USD Million)
Table 19 Personal Vision: Market Size, By Region, 2014–2021 (USD Million)
Table 20 Firefighting: Market Size, By Region, 2014–2021 (USD Million)
Table 21 Research and Development: Market Size, By Region, 2014–2021 (USD Million)
Table 22 Automotive: Market Size, By Region, 2014–2021 (USD Million)
Table 23 Veterinary: Market Size, By Region, 2014–2021 (USD Million)
Table 24 Others: Market Size, By Region, 2014–2021 (USD Million)
Table 25 Market Size, By End-User, 2014–2021 (Thousand Units)
Table 26 Market Size, By End-User, 2014–2021 (USD Million)
Table 27 Military and Defense: Market Size, By Region, 2014–2021 (Thousand Units)
Table 28 Military and Defense: Thermal Imaging Market Size, By Region, 2014–2021 (USD Million)
Table 29 Industrial, Commercial, and Residential: Market Size, By Region, 2014–2021 (Thousand Units)
Table 30 Industrial, Commercial, and Residential: Market Size, By Region, 2014–2021 (USD Million)
Table 31 Market Size, By Region, 2014–2021 (USD Million)
Table 32 North America: Thermal Imaging Market Size, By Component, 2014–2021 (USD Million)
Table 33 North America: Market Size, By End-User, 2014–2021 (Thousand Units)
Table 34 North America: Market Size, By End-User, 2014–2021 (USD Millions)
Table 35 North America: Market Size, By Application, 2014–2021 (USD Million)
Table 36 North America: Market Size, By Surveillance System, 2014–2021(USD Million)
Table 37 North America: Market Size, By Country, 2014–2021(USD Million)
Table 38 Europe: Thermal Imaging Market Size, By Component, 2014–2021 (USD Million)
Table 39 Europe: Market Size, By End-User, 2014–2021 (Thousand Units)
Table 40 Europe: Market Size, By End-User, 2014–2021 (USD Millions)
Table 41 Europe: Market Size, By Application, 2014–2021 (USD Million)
Table 42 Europe: Market Size, By Surveillance System, 2014–2021(USD Million)
Table 43 Europe: Market Size, By Surveillance System, 2014–2021(USD Million)
Table 44 Asia-Pacific: Thermal Imaging Market Size, By Component, 2014–2021 (USD Million)
Table 45 Asia-Pacific: Market Size, By End-User, 2014–2021 (Thousand  Units)
Table 46 Asia-Pacific: Market Size, By End-User, 2014–2021 (USD Millions)
Table 47 Asia-Pacific: Market Size, By Application, 2014–2021 (USD Million)
Table 48 Asia-Pacific: Market Size, By Surveillance System, 2014–2021(USD Million)
Table 49 Asia-Pacific: Market Size, By Surveillance System, 2014–2021(USD Million)
Table 50 Middle East and Africa: Thermal Imaging Market Size, By Component, 2014–2021 (USD Million)
Table 51 Middle East and Africa: Market Size, By End-User, 2014–2021 (Thousand Units)
Table 52 Middle East and Africa: Market Size, By End-User, 2014–2021 (USD Millions)
Table 53 Middle East and Africa: Market Size, By Application, 2014–2021 (USD Million)
Table 54 Middle East and Africa: Market Size, By Surveillance System, 2014–2021(USD Million)
Table 55 Middle East and Africa: Market Size, By Surveillance System, 2014–2021(USD Million)
Table 56 Latin America: Thermal Imaging Market Size, By Component, 2014–2021 (USD Million)
Table 57 Latin America: Market Size, By End-User, 2014–2021 (Thousand Units)
Table 58 Latin America: Market Size, By End-User, 2014–2021 (USD Millions)
Table 59 Latin America: Market Size, By Application, 2014–2021 (USD Million)
Table 60 Latin America: Market Size, By Surveillance System, 2014–2021(USD Million)
Table 61 Latin America: Market Size, By Surveillance System, 2014–2021(USD Million)
Table 62 New Product Launches, 2013–2016
Table 63 Partnerships, Agreements, Contracts, and Collaborations, 2013–2016
Table 64 Acquisitions, 2013–2016
Table 65 Expansions, 2014–2016

List of Figures

Figure 1 Global Thermal Imaging Market: Research Design
Figure 2 Breakdown of Primaries: By Company Type, Designation, and Region
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Market Breakdown and Data Triangulation
Figure 6 Assumptions
Figure 7 Services Segment is Expected to Grow at the Highest Rate During the Forecast Period
Figure 8 The Adoption of Thermal Imaging is Expected to Grow at the Highest Rate in the Automotive Sector
Figure 9 Industrial, Commercial, and Residential Sector is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 10 North America is Expected to Lead the Thermal Imaging Market in 2016
Figure 11 Services Segment is Expected to Gain Traction During the Forecast Period
Figure 12 Hardware Contributes the Largest Market Size Among the Component
Figure 13 Industrial, Commercial, and Residential Segment is Expected to Witness A Higher Growth Rate During the Forecast Period
Figure 14 Surveillance By Application and North America By Region are Expected to Account for the Largest Share.
Figure 15 Thermal Imaging Regional Lifecycle: Asia-Pacific Exhibits Potential Growth During the Forecast Period
Figure 16 Thermal Imaging Market: Evolution
Figure 17 Market Segmentation: By Component
Figure 18 Market Segmentation: By Application
Figure 19 Market Segmentation: By End-User
Figure 20 Market Segmentation: By Region
Figure 21 Market : Market Dynamics
Figure 22 Thermal Imaging Market: Value Chain
Figure 23 Strategic Benchmarking
Figure 24 Hardware Segment is Expected to Dominate the Market Throughout the Forecast Period
Figure 25 Automotive Sector is Increasingly Adopting Thermal Imaging Solutions
Figure 26 Industrial,Commercial, and Residential Segment is Expected to Gain the Higher Traction During the Forecast Period
Figure 27 Regional Snapshot: Asia-Pacific is Emerging as A New Hotspot
Figure 28 North America is Expected to Exhibit the Highest Growth Rate Due to the Huge Investments By the Market Players in the Region
Figure 29 North America: Thermal Imaging Market Snapshot
Figure 30 Asia-Pacific: Market Snapshot
Figure 31 Companies Adopted New Product Launches and Partnerships as Key Growth Strategies During 2013–2016
Figure 32 Market Evalution Framework
Figure 33 Battle for Thermal Imaging Market Share: New Product Launch is the Key Strategy
Figure 34 Geographic Revenue Mix of Top Market Players
Figure 35 Flir Systems, Inc. : Company Snapshot
Figure 36 Flir Systems, Inc.: SWOT Analysis
Figure 37 Fluke Corporation (Fortive Corporation): Company Snapshot
Figure 38 Fluke Corporation (Fortive Corporation): SWOT Analysis
Figure 39 BAE Systems: Company Snapshot
Figure 40 BAE Systems: SWOT Analysis
Figure 41 L-3 Communications Holdings, Inc.: Company Snapshot
Figure 42 L-3 Communications Holdings, Inc.: SWOT Analysis
Figure 43 DRS Technologies, Inc.: Company Snapshot
Figure 44 DRS Technologies, Inc.: SWOT Analysis
Figure 45 Axis Communications: Company Snapshot
Figure 46 Honeywell International, Inc.: Company Snapshot
Figure 47 Raytheon Company: Company Snapshot
Figure 48 Thermoteknix Systems Ltd.: Company Snapshot
Figure 49 Testo AG: Company Snapshot
Figure 50 ICI Infrared Cameras, Inc.: Company Snapshot
Figure 51 Lockheed Martin Corporation: Company Snapshot
Figure 52 Nippon Avionics Co. Ltd.: Company Snapshot
Figure 53 Sofradir Group: Company Snapshot

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