Portland, OR -- (SBWIRE) -- 06/01/2018 -- Infrared Detector Market is expected to garner $466 million by 2022, registering a CAGR of 9.7% during the forecast period 2016 - 2022.Infrared detector is used to detect infrared radiation to measure heat and detect motion. It is integrated with different devices used in surveillance, automobiles, testing, detection, and measurement. Infrared detectors that convert infrared radiation into electrical signal are one of the most significant group of sensors in defense system applications.

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The photo infrared detectors accounted for about 61% of the overall infrared detector market in 2014. Higher accuracy and fast response of photo infrared detectors led this segment to dominate the overall infrared detector market. However, thermal infrared detector segment is expected to register a CAGR of 11.6 % and demonstrate significant growth during the forecast period. This is due to the low cost and less maintenance as many renowned companies have launched advanced technology products. Moreover, North America has contributed significantly in the photo infrared detector segment.

The key players in the infrared detector market:-

Texas Instruments Inc., Honeywell International Inc., Omron Corporation, Excelitas Technologies Corp., Hamamatsu Photonic K.K., FLIR Systems Inc., Murata Manufacturing Co., Ltd., Raytheon Company, Sofradir, and Nippon Avionics.

Manufacturing of highly sensitive infrared detector requires high initial cost. The process of integrating the infrared detectors with expensive semiconductor components costs a lot more than the actual price of the infrared sensors. However, many manufacturers have developed low cost, compact, affordable, and energy efficient infrared detectors. These detectors serve small to medium sized enterprises. In addition, government initiatives in defense sector are also expected to provide a major growth opportunity. There have been substantial investments for R&D by public and private organizations to explore further technologies and applications of infrared detectors. However, high prices, complex technologies, and less accuracy could restrict the market growth. Furthermore, deteriorated performance in harsh conditions also limit their adoption. North America generated the maximum revenue, followed by Asia-Pacific

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