Pune, India -- (SBWIRE) -- 10/17/2018 -- Market Highlights:
The military imaging system is a technique that can capture high-resolution 3-D images from longer distances than conventional optical systems. It is used to improve the visibility and enhance the clarity of objects, even in dark environmental conditions, with the help of infrared light. Moreover, increasing the use of these systems for border patrolling and security and the introduction of high definition imaging technologies would significantly drive the market. The emergence of a variety of radar, optronic, and IR sensors to guide gunfire is expected to improve the effectiveness and accuracy of gunfire. However, there are some shortcomings in the operating performance of the military imaging systems, such as their efficiency during extreme weather conditions, difficulty in the manufacturing of high-resolution cameras, and the increased usage of smokescreen technologies.
Secondary factors such as stringent government regulations and increasing vehicle production have influenced the market significantly. Significant betterment of the imaging technology has resulted in reduced operational and capital costs benefitting governments more than ever.
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Major Key Players:
- FLIR Systems Inc. (U.S.),
- Teledyne Technologies Inc. (U.S.),
- L3 Technologies Inc. (U.S.),
- Lockheed Martin Corporation (U.S.),
- Thales Group (France),
- BAE Systems (U.S.),
- Raytheon Company (U.S.),
- Harris Corporation (U.S.),
- General Dynamics Mission Systems Inc (U.S.),
- Leonardo DRS (U.S.).
Industry Trend:
In the battlefield, the cat and mouse chase often require multiple technologies to avert detection. On the other hand, it becomes difficult to find the enemy in such situations. Bearing that in mind China is trying to develop a ghost imaging technique which will enable its force to detect even the slightest light emitting out from its opponent. For it, China is revolutionizing the imaging technology by introducing a quantum sensor method in the system.
In the early 60s, the emergence of real-time imaging technology started becoming prominent. The imaging system is capable of scanning broad areas and are a good choice to use aboard aircraft or in satellite devices. Some of the greatest advances in imaging systems have occurred in defense systems. One such advanced technology used in military imaging system is forward looking infrared or FLIR technology, which originated as a sensor system for fighter aircraft.
The factors responsible for the growth of the military imaging system market are the increase in the use of selective catalytic reduction technology, stringent government regulations for the use of diesel exhaust fluid, and increase in production of vehicles. The significant technological development in the military imaging system market has resulted in reduced operational and capital costs. For instance, Teledyne Scientific & Imaging LLC signed a contract with French Space Agency to provide infrared detectors and electronics for the European Space Agency (ESA) JUICE mission to Jupiter. Similarly, L3 Technologies signed a contract worth USD150 million to provide night vision equipment with next-generation accuracy, including L3's binocular night vision goggles, holographic weapon sights, light weapon thermal sights, and advanced target pointer illuminator aiming lasers.
Segmentation:
The global military imaging system market can be segmented by type, technology, application, and platform.
Type-wise segmentation consists thermal imaging, hyperspectral imaging, and multispectral imaging. Thermal imaging is leading the market due to its excellent weather resistance and ability to work round-the-clock.
Technology-wise segmentation includes cooled and uncooled. Cooled imaging technology is expecting the fastest CAGR during the forecast period owing to its efficiency in mapping location based on the slightest difference in the ambiance.
Application-based segmentation comprises security & surveillance, monitoring & inspection, detection, and others. Security & surveillance to witness the highest CAGR during the review period.
Based on the platform, the market can be segmented into man-portable and vehicle mounted. Man-portable devices are anticipating the fastest growth rate till 2023.
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Regional Analysis:
The global market can be segmented zone-wise, such as North America, Asia Pacific (APAC), Europe, the Middle East & Africa (MEA), and South America (LATAM).
North America is currently spearheading the market and is continually investing for better product development. Since 9/11 in 2001, the U.S. upped their investment in the sector to secure their country from further terrorist threats.
Europe assumes the second position. A series of terrorist attacks in the region in the past decade has influenced the market considerably. The market is getting proper support from the research and development sector.
The APAC is expecting the fastest CAGR during the assessment period owing to the presence of countries such as India, China, Japan and South Korea.
Intended Audience:
- Military authorities
- Military imaging system producers
- Government as well as Independent Regulatory Authorities
LIST OF TABLES
Table 1 Global Military Imaging System Market: By Region, 2018-2023
Table 2 North America Military Imaging System Market: By Country, 2018-2023
Table 3 Europe Military Imaging System Market: By Country, 2018-2023
Table 4 Asia Pacific Military Imaging System Market: By Country, 2018-2023
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LIST OF FIGURES
Figure 1 Research Process Of Mrfr
Figure 2 Top Down & Bottom Up Approach
Figure 3 Market Dynamics
Figure 4 Impact Analysis: Market Drivers
Figure 6 Impact Analysis: Market Restraints
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