New York, NY -- (SBWIRE) -- 05/15/2017 -- Infrared Solutions Market: Introduction
Infrared solutions are widely preferred in defence and security applications due to their exceptional battlefield capabilities like target acquisition, accurate deployment of the troops, surveillance, etc. Infrared is an electromagnetic energy which has wavelength longer than the wavelength of colour red. Its unique features like wide vision field, identification of movement in dim light and rapid processing are projected to propel the demand for infrared solutions across the globe during the forecast period. Due to these features, infrared solutions are widely preferred in unmanned military vehicles, helicopters, naval vessels, armoured vehicles, etc.
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Based on frequency, low wavelength infrared (LWIR) is expected to be the fastest growing segment as it provides better image through mist and smoke coupled. That apart, there has also been an increase in demand for LWIR cameras in homeland security, military, industrial applications, etc. Based on system, imaging is anticipated to dominate the global infrared solutions market. Based on platform, airborne segment is projected to be the promising revenue generating segment over the forecast period.
Infrared Solutions Market: Drivers
One of the major factors driving the growth of the global Infrared solutions market is the increasing use of these solutions for surveillance operations. Close in weapon systems (CIWS) in naval platforms widely prefer these solutions for target engagement and acquisition. Moreover, additional concerns of governments across the globe regarding combating terrorism is further expected to propel the growth of the global Infrared solutions market. Additionally, increasing demand for infrared solutions in unmanned aerial vehicles (UAVs) and commercial vehicles is further anticipated to escalate the demand for infrared solutions during the forecast period.
Infrared Solutions Market: Restraints
Entry of uncooled thermal detectors for low wavelength infrared for applications requiring low or medium performance is expected to hamper the growth of the global infrared solutions market. Moreover, continuous reduction in the defence budget in many countries is also anticipated to restrict the growth of this market. That apart, limited availability of nigh vision equipment of the required size, weight and power (SWaP) is further expected to hinder the growth of the global infrared solutions market.
Infrared Solutions Market: Segmentation
Global Infrared solutions market can be segmented on the basis of component, platform, technology, system, wavelength, and regions. On the basis of component, the market can be segmented into infrared sensors, infrared detector and infrared lens systems. On the basis of platform, the global Infrared solutions market can be segmented into airborne, naval and space. On the basis of technology, the Infrared solutions market can be segmented into hyper spectral, multi spectral, scanning and starring. On the basis of system, the global Infrared solutions market can be segmented into non imaging and imaging. On the basis of wavelength, the market can be segmented into small wavelength infrared (SWIR), medium wavelength infrared (MWIR) and large wavelength infrared (LWIR). On the basis of regions, the global Infrared solutions market can be segmented into North America, Asia Pacific excluding Japan, Latin America, Eastern Europe, Western Europe, Japan and Middle East & Africa.
Infrared Solutions Market: Region Wise Outlook
Based on regions, North America is expected to be the most prominent revenue generating region for infrared solutions market. However, owing to the cut in its defence budget, North America is expected to witness sluggish growth during the forecast period. Asia Pacific, led by China and India, is projected to be the fastest growing market which can be attributed to the increase in spending on defence in this region. Europe is expected to witness significant growth during the forecast period.
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Infrared Solutions Market: Market Participants
Some of the market participants identified across the globe in the infrared solutions market are as follows: Raytheon Company, Lockheed Martin Corporation, Rafael Advanced Defense Systems Ltd., L-3 Communications Holdings, Inc., BAE Systems Plc., Northrop Grumman, Thales Group, Rockwell Collins, Elbit Systems Ltd., DRS Technologies.
Manufacturers are focusing on cost-effective, small sized, light weight infrared system due to increasing adoption of small unmanned aerial vehicles owing to their tactical advantages.
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