The global “SWIR camera market” size is projected to reach USD 419.0 million by 2027, exhibiting a CAGR of 11.4% during the forecast period. Unhindered spread of the novel coronavirus across the globe is stoking the adoption of thermal cameras and fueling the market growth, shares Fortune Business Insights™ in its report, titled “SWIR Camera Market Size, Share and Covid-19 Impact Analysis, By Product (SWIR Linear Camera, SWIR Area Camera), By Application (Inspection and Quality Control, Security and Surveillance, Astronomy, Thermography, Spectroscopy, and Others), By End-user (Industrial Manufacturing, Aerospace and Defense, Scientific Research and Life Sciences, and Others), and Regional Forecast, 2020 – 2027”.
The report states that SWIR Camera Market value stood at USD 178.9 million in 2019. It also offers the following:
- Exhaustive study of the various factors driving the market;
- Detailed analysis of the market’s restraining factors;
- Piecemeal examination of all the market segments; and
- In-depth research into the regional and competitive dynamics influencing market growth.
List of Key Players Profiled in this SWIR Camera Market Report:
- Sierra-Olympic Systems, Inc.
- Princeton Infrared Technologies, Inc.
- IRCameras LLC
- Hamamatsu Photonics K.K.
- Allied Vision Technologies GmbH
- Teledyne Princeton Instruments
- Raptor Photonics
- New Imaging Technologies (NIT)
- Leonardo DRS
- InView Technology Corporation
- FLIR Systems, Inc.
Rising Military Spending to Bolster Market Growth
A prominent factor that is expected to provide a positive thrust to the SWIR camera market growth during the forecast period is the increased military spending by major economies of the world. According to the Stockholm International Peace Research Institute (SIPRI), the total defense expenditure worldwide reached USD 1917 billion in 2019, representing 3.6% rise from 2018 levels. The US, China, India, Russia, and Saudi Arabia emerged as the largest spenders, the SIPRI data reveals. More funds for militaries in these countries will mean modernization of defense equipment with next-gen gear such as SWIR camera market and other thermal imaging technologies. These cameras can efficiently perform security and surveillance operations, especially in areas where visibility is poor, thus enabling enemy forces to conduct nefarious activities undetected. As the concerns over national security intensify, the demand for such advanced equipment is expected to surge.
Table of Content SWIR Camera Market:
- Definition, By Segment
- Research Approach
2. Executive Summary
3. Market Dynamics
- Drivers, Restraints, and Opportunities
- Emerging Trends
4. Key Insights
4.1 Macro and Micro Economic Indicators
4.2 Consolidated SWOT Analysis of Key Players
4.3 Impact of COVID-19
- Short-term Impact
- Long-term Impact
4.4 Key Industry Developments – In Response to the COVID-19 Impact
5. Global SWIR Camera Market Analysis, Insights and Forecast, 2016-2027
5.1 Key Findings / Summary
5.2 Market Size Estimates and Forecasts
5.2.1 By Product (Value)
- SWIR Linear Camera
- SWIR Area Camera
5.2.2 By Application (Value)
- Inspection and Quality Control
- Security and Surveillance
5.2.3 By End-User (Value)
- Industrial Manufacturing
- Aerospace and Defense
- Scientific Research and Life Sciences
5.2.4 By Region (Value)
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
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