Enjoy complimentary customisation on priority with our Enterprise License!
The rugged thermal cameras market share is expected to increase by USD 2.73 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 8.67%.
This rugged thermal cameras market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers rugged thermal cameras market segmentation by application (security and surveillance, monitoring and inspection, detection and measurement, and others), end-user (military and defense, commercial, Industrial, and residential), and geography (North America, APAC, Europe, the Middle East and Africa, and South America). The rugged thermal cameras market report also offers information on several market vendors, including AB SKF, Ascendent Technology Group Inc., Astronics Corp., Axis Communications AB, BAE Systems Plc, ED Bullard Co., Fluke Corp., Honeywell International Inc., L3Harris Technologies Inc., Leonardo DRS Inc, Liteye Systems Inc., Opgal Optronic Industries Ltd., Robert Bosch GmbH, SparkFun Electronics Inc., Teledyne Technologies Inc., Terabee SAS, Thermoteknix Systems Ltd., and Xenics NV among others.
Download Report Sample to Unlock the Rugged Thermal Cameras Market Size for the Forecast Period and Other Important Statistics
Our researcher studied the historical data for years, with 2021 as the base year and 2022 as the estimated year, and produced drivers, trends, and challenges. In the COVID-19 pandemic, the demand for rugged thermal cameras market has been impacted a lot. A holistic analysis of drivers will help exact demands and refine marketing strategies to gain a competitive advantage.
Key Rugged Thermal Cameras Market Driver
Increasing military expenditure is one of the major drivers impacting the rugged thermal cameras market growth. Global military spending grew by 6.1% in 2021 and accounted for $2.1 trillion. Amid the economic fallout triggered by the outbreak of COVID-19, global military spending grew significantly during April 2020-April 2022. This is primarily attributed to increasing R&D spending, which focuses on developing next-generation technologies, such as rugged thermal cameras. Thus, the global rugged thermal cameras market is expected to grow exponentially during the forecast period. For instance, the high revenue generated from the oil and gas industry helped Russia increase its military spending in 2021. Furthermore, China was the second-largest spender in the military sector and allocated about $293 billion toward its military in 2021, an increase of 4.7% compared with the spending in 2020. Therefore, the global rugged thermal cameras market is expected to witness growth during the forecast period.
Key Rugged Thermal Cameras Market Trend
Improvement in photogrammetry and thermal imaging is one of the major trends influencing the rugged thermal cameras market growth. The penetration of the global rugged thermal cameras market is expected to increase during the forecast period as more end-users are expected to invest in thermal sensors to capitalize on capabilities such as photogrammetry. In addition, the emergence of hyperspectral imagery to ensure more accuracy and improvement in the quality of images captured is expected to witness significant growth during the forecast period. For instance, PrecisionHawk, Inc. (PrecisionHawk), a major vendor in the market, has added more rugged thermal cameras to its existing product line, which will be offered by the end of Q4 2022 as an optional add-on to its drone data packages that feature drone hardware from SZ DJI Technology Co., Ltd., including its M100 and M600. These unmanned aerial vehicles (UAVs) can be integrated with PrecisionHawk's flight planning, processing, and analytics tools, which help in creating high-resolution maps that cannot be created using traditional methodologies. There will also be improvements in rugged thermal camera technologies.
Key Rugged Thermal Cameras Market Challenge
Inaccuracy in image data collection is one of the major challenges impeding the rugged thermal cameras market growth. Most low-cost, rugged thermal cameras are not as reliable and have a much higher crash rate. Positional inaccuracy is a great concern in geographic information systems (GIS), which can affect many different characteristics of the information stored in a database. The non-spatial data linked to a targeted location can also be inaccurate or imprecise. Ecological monitoring requires detailed information over broad spatial scales. Factors such as scene contrast and atmospheric clarity can affect the resolution of aerial photographs. Scanning at low-resolution results in the loss of information, and high scanning resolution leads to enormous size digital files with large storage requirements. Errors occur during the collection and digitization of aerial photographs, which limit the use of rugged thermal cameras for accurate analysis. Geometric errors and radiometric errors alter the perceived location and size of image features. Such factors are anticipated to restrain the growth of the global rugged thermal cameras market during the forecast period.
This rugged thermal cameras market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global rugged thermal cameras market as a part of the global electronic equipment and instruments market within the overall electronics market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the rugged thermal cameras market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the rugged thermal cameras market encompasses successful business strategies deployed by the key vendors. The rugged thermal cameras market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from the COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.
Our report provides extensive information on the value chain analysis for the rugged thermal cameras market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
For more insights on the market share of various regions Request PDF Sample now!
40% of the market’s growth will originate from North America during the forecast period. The US is the key market for rugged thermal cameras market in North America. Market growth in this region will be faster than the growth of the market in other regions.
The presence of major military and defense firms in the US will facilitate the rugged thermal camera market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID-19 Impact and Recovery Analysis
Most countries in North America, particularly the US and Canada, were severely affected by the COVID-19 outbreak in 2020. The rapid rise in the number of COVID-19 cases across the region during the first half of 2020 influenced the governments of these countries to introduce emergency legislation, which included restrictions on the operational activities of several industries. This led to the shutting down of several manufacturing units, including those manufacturing rugged thermal cameras in North America. In addition, disruptions in the supply of raw materials required for manufacturing rugged thermal cameras, the limited availability of workers, and a reduction in demand due to the temporary halt in production activities in the OEM industry hindered the growth of the regional rugged thermal cameras market in 2020.
To gain further insights on the market contribution of various segments Request a PDF Sample
The rugged thermal cameras market share growth in the security and surveillance segment will be significant during the forecast period. Thermography allows the identification of illegal individuals on private property or in prohibited zones, boosting the growth of the global rugged thermal cameras market during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the rugged thermal cameras market size and actionable market insights on the post-COVID-19 impact on each segment.
Rugged Thermal Cameras Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.67% |
Market growth 2022-2026 |
$2.73 billion |
Market structure |
Fragmented |
YoY growth (%) |
7.72 |
Regional analysis |
North America, APAC, Europe, Middle East and Africa, and South America |
Performing market contribution |
North America at 40% |
Key consumer countries |
US, Israel, China, Japan, and Germany |
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
Key companies profiled |
AB SKF, Ascendent Technology Group Inc., Astronics Corp., Axis Communications AB, BAE Systems Plc, ED Bullard Co., Fluke Corp., Honeywell International Inc., L3Harris Technologies Inc., Leonardo DRS Inc, Liteye Systems Inc., Opgal Optronic Industries Ltd., Robert Bosch GmbH, SparkFun Electronics Inc., Teledyne Technologies Inc., Terabee SAS, Thermoteknix Systems Ltd., and Xenics NV |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Market Segmentation by End-user
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.