PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1621852
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1621852
Cooled IR Camera Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 - 2032
The Global Cooled IR Camera Market was valued at USD 350 million in 2023 and is projected to grow at a CAGR of 8% from 2024 to 2032. This growth is primarily driven by the increasing demand for advanced imaging technologies, particularly in the military and defense sectors. Cooled IR cameras offer high sensitivity and superior image quality, making them essential for a variety of defense applications such as surveillance, target acquisition, and reconnaissance. Cooled IR cameras can detect heat signatures over long distances, even in challenging conditions like darkness, fog, smoke, or other visual obstructions. This capability is critical for nighttime operations and battlefield awareness, where clear and detailed thermal images support better decision-making in mission-critical scenarios.
The industrial inspection segment is expected to grow at a notable CAGR of 10% during the forecast period. Industries such as manufacturing, oil and gas, and power generation rely on cooled IR cameras to monitor equipment and prevent failures by identifying overheating, leaks, or electrical issues early on. In terms of wavelength, the market is divided into short-wave infrared (SWIR), mid-wave infrared (MWIR), and long-wave infrared (LWIR). The short-wave infrared (SWIR) segment currently holds the largest share and is expected to generate USD 300 million by 2032. SWIR cameras are particularly effective for detecting reflected light, making them ideal for specialized applications where detailed imaging is required beyond heat emission detection.
North America led the global cooled IR camera market in 2023, capturing over 35% of the market share. This dominance is attributed to the region's robust defense sector, extensive industrial activities, and leadership in technological innovation. In particular, the United States plays a key role in market growth due to its strong investment in reconnaissance and surveillance technologies, including cooled IR cameras. The growing emphasis on industrial automation and predictive maintenance across various industries, including manufacturing and energy, also boosts demand in the region.
| Market Scope | |
|---|---|
| Start Year | 2023 |
| Forecast Year | 2024-2032 |
| Start Value | $350 Million |
| Forecast Value | $700 Million |
| CAGR | 8% |
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Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Market scope & definition
- 1.2 Base estimates & calculations
- 1.3 Forecast calculation
- 1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
- 1.4.2.1 Paid sources
- 1.4.2.2 Public sources
Chapter 2 Executive Summary
- 2.1 Industry 360° synopsis, 2021-2032
Chapter 3 Industry Insights
- 3.1 Industry ecosystem analysis
- 3.2 Vendor matrix
- 3.3 Profit margin analysis
- 3.4 Technology & innovation landscape
- 3.5 Patent analysis
- 3.6 Key news and initiatives
- 3.7 Regulatory landscape
- 3.8 Impact forces
- 3.8.1 Growth drivers
- 3.8.1.1 Increasing demand in military and defense applications
- 3.8.1.2 Rising adoption in industrial inspection and monitoring
- 3.8.1.3 Advancements in sensor technology
- 3.8.1.4 Increasing integration with AI and machine learning
- 3.8.1.5 Rising demand for high-resolution imaging
- 3.8.2 Industry pitfalls & challenges
- 3.8.2.1 Complexity and maintenance requirements
- 3.8.2.2 Limited awareness and technical expertise
- 3.8.1 Growth drivers
- 3.9 Growth potential analysis
- 3.10 Porter's analysis
- 3.10.1 Supplier power
- 3.10.2 Buyer power
- 3.10.3 Threat of new entrants
- 3.10.4 Threat of substitutes
- 3.10.5 Industry rivalry
- 3.11 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
- 4.1 Introduction
- 4.2 Company market share analysis
- 4.3 Competitive positioning matrix
- 4.4 Strategic outlook matrix
Chapter 5 Market Estimates & Forecast, By Technology, 2021-2032 (USD Million & Units)
- 5.1 Key trends
- 5.2 Photon detection
- 5.3 Thermal imaging
Chapter 6 Market Estimates & Forecast, By Wavelength, 2021-2032 (USD Million & Units)
- 6.1 Key trends
- 6.2 Short-wave infrared (SWIR)
- 6.3 Mid-wave infrared (MWIR)
- 6.4 Long-wave infrared (LWIR)
Chapter 7 Market Estimates & Forecast, By Application, 2021-2032 (USD Million & Units)
- 7.1 Key trends
- 7.2 Surveillance and security
- 7.3 Industrial inspection
- 7.4 Scientific research
- 7.5 Aerospace and defense
- 7.6 Medical imaging
- 7.7 Others
Chapter 8 Market Estimates & Forecast, By End Use Industry, 2021-2032 (USD Million)
- 8.1 Key trends
- 8.2 Military and defense
- 8.3 Automotive
- 8.4 Industrial
- 8.5 Healthcare
- 8.6 Aerospace
- 8.7 Others
Chapter 9 Market Estimates & Forecast, By Region, 2021-2032 (USD Million & Units)
- 9.1 Key trends
- 9.2 North America
- 9.2.1 U.S.
- 9.2.2 Canada
- 9.3 Europe
- 9.3.1 UK
- 9.3.2 Germany
- 9.3.3 France
- 9.3.4 Italy
- 9.3.5 Spain
- 9.3.6 Rest of Europe
- 9.4 Asia Pacific
- 9.4.1 China
- 9.4.2 India
- 9.4.3 Japan
- 9.4.4 South Korea
- 9.4.5 ANZ
- 9.4.6 Rest of Asia Pacific
- 9.5 Latin America
- 9.5.1 Brazil
- 9.5.2 Mexico
- 9.5.3 Rest of Latin America
- 9.6 MEA
- 9.6.1 UAE
- 9.6.2 South Africa
- 9.6.3 Saudi Arabia
- 9.6.4 Rest of MEA
Chapter 10 Company Profiles
- 10.1 AIM Infrarot-Module GmbH
- 10.2 BOSTON ELECTRONICS
- 10.3 Exosens
- 10.4 Fluke Corporation
- 10.5 FLIR Systems Inc.
- 10.6 Global Sensor Technology Co., Ltd.
- 10.7 Hamamatsu Photonics K.K.
- 10.8 Hangzhou Hikvision Digital Technology Co., Ltd
- 10.9 InfraTec GmbH
- 10.10 Infinity Electri Optics
- 10.11 IRCameras LLC
- 10.12 Jenoptik A.G
- 10.13 L3Harris Technologies Inc.
- 10.14 Leonardo DRS (Leonardo S.p.A.)
- 10.15 Lynred USA
- 10.16 Optris gmbh
- 10.17 SemiConductor Devices
- 10.18 TBT Systems
- 10.19 Testo SE & Co. KGaA
- 10.20 Thermoteknix systems ltd.
