Pune, India -- (SBWIRE) -- 08/22/2016 -- The global infrared imaging market is expected to grow from USD 6.43 Billion in 2015 to USD 11.36 Billion by 2022, at a CAGR of 8.32% between 2016 and 2022. The market is expected to grow substantially due to factors such as surge in demand for infrared imaging in nearly all commercial applications, advantages of LWIR cameras with uncooled technology, and the decreasing cost of IR detectors.

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The market for long-wavelength infrared expected to grow at the highest rate during the forecast period

Cameras operating in the LWIR spectral range provide details of the atmospheric absorption of heat and also do not require any external light source to form an image of a given object. LWIR is mostly suitable for thermography and passive vision enhancement applications because of its ability to give better vision through mist and smoke. The increasing use of cameras based on this wavelength in military, homeland security, aerospace & defense, industrial, and automotive applications is driving the growth of the IR imaging market to a considerable extent.

Application in the surveillance sector accounted for the largest share of the infrared imaging market in 2015

The infrared imaging market is led by the surveillance application which is further segmented into three types: military surveillance, homeland security, and industrial surveillance. The high demand for infrared imaging products, especially for military surveillance applications is one of the major factors driving the growth of the infrared imaging market for the surveillance application. The features of infrared imaging cameras such as wide field of vision, rapid processing, and the ability to identify the sources of movement in low-light conditions has led to increased use of theses cameras for the military surveillance application.

North America held the largest market share in 2015

North America held the largest market share in 2015, followed by Europe and Asia-Pacific. The U.S. accounted for the largest share of the North American infrared imaging market. This is attributed to the continuous technological developments in the U.S., followed by Canada and Mexico. Asia-Pacific offers potential growth opportunities owing to the increasing adoption of infrared imaging products in various applications such as surveillance and consumer electronics that are driving the infrared imaging market.

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Major players in this market include Axis Communications AB (Sweden), FLIR Systems, Inc. (U.S.), DRS Technologies, Inc. (U.S.), Fluke Corporation (U.S.), Opgal Optronics Industries Ltd. (Israel), Bosch Security Systems, Inc. (Germany), L-3 Communications Holdings, Inc. (U.S.), Zhejiang Dali Technology Co., Ltd. (China), Sofradir Group (France), and General Dynamics Mission Systems, Inc. (U.S.).

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