Valley Cottage, NY -- (SBWIRE) -- 06/24/2020 -- Thermal Scanner Market Trend Analysis

Thermal Scanner Market Is Witnessing a Strong Growth Owing To Increasing Application in Military & Thermography, Finds Future Market Insights
Thermal imaging cameras have numerous utilizations in mechanical applications. They are incredible, non-intrusive instruments that can be utilized to screen and analyse issues in an assortment of frameworks.
The defence sector exhibits extensive use of thermal scanners. According to FMI, the military sector accounted for above ~30% of the market in 2020. Defence agencies use the thermal scanner for security & surveillance of areas.

Besides strengthening their defence, upgrading technologies is one of the top priorities of most countries across the globe. As they focus on expanding their power in both peacetime and war, military budget will rise.
A significant portion of this budget will be allotted to high-tech gears and devices. This would have a cascade effect on the thermal scanner market as well.

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Innovations in thermal scanner technology especially in short-wave infrared (SWIR) along with the development of Indium Gallium Arsenide (InGaAs) sensors have ensured higher usage of thermal cameras in defence and in other industries.
DoD firefighters utilize thermal imaging cameras, which can see through smoke. These cameras additionally help firemen see what territories to keep away from as they navigate through places with less or no visibility brought about by smoke.

Nowadays, various organizations are using thermal cameras to monitor the health & safety of labour force. FMI in its latest study has forecast the thermal scanner market is expected to expand at a CAGR of ~10% between 2020 and 2030.

Key Takeaways from the Thermal Scanner Market Study

- High cost associated with thermal cooling technology has indirectly benefited the uncooled technology thermal scanners market. In addition to this, uncooled systems work more quietly as compared to cooled system which again accelerates higher usage of uncooled technology systems or thermal scanners.
- North America holds the largest share in the thermal scanner market owing to high usage of thermal scanners in commercial & residential establishments.
- East Asia is projected to emerge as one of the most attractive markets for the thermal scanner. The region is primarily dominated by China owing to growing construction activities and other commercial usage to fight against coronavirus. Japan & South Korea are exhibiting higher demand for thermal scanners.
- The ongoing pandemic has created an enormous demand for handheld/ portable thermal scanners to detect fever due to easy handling from a certain distance or non-contact thermal scan, and lower price point as compared to fixed or mounted.
- The expansion of the thermal scanner market is ascribed to an increasing adoption in industrial and commercial sectors. The world is at the stage of reopening its businesses, therefore the demand for thermal scanners as a precautionary tool will rise.

"Innovations in thermal camera or scanners can give an edge to the companies which are targeting high potential economies. Currently several prominent companies are focusing on the defence sector. Therefore capitalizing on opportunities in countries with a strong defence and military sector can enable them gain a competitive advantage" says an FMI analyst.

Impact of COIVD-19 & 2020 Market Analysis

COVID-19 has affected the growth of numerous ventures as companies are reeling under poor order or order cancellation issues. However, there is a definite growth curve that has been noticed in the market for thermal scanner as it has become one of the most essential tools for detecting a corona patients.
Companies are expected to resume operation as lockdown eases following the government guidelines. This would send them scrambling to purchase thermal scanners as a first line of defence against the novel coronavirus.
Among key regional markets, Asia Pacific exhibits a high demand for the thermal scanner. Countries such as China and India are set to resume their businesses which again will increase the demand for thermal scanners.

Who is winning?

Some of the key players operating in the thermal scanner market FLIR Systems, Inc., VUMII Imaging, Fluke Corporation, Leonardo S.p.A, Axis Communications AB, Optotherm, Inc., Seek Thermal, Testo SE & Co. KGaA, L3HARRIS TECHNOLOGIES, INC., Thermoteknix Systems Ltd., 3M (3M Scott), C-THERMAL, HGH Infrared Systems, Tonbo Imaging, Opgal (Israel), TERABEE, Xenics, Infratec GmbH, AMETEK Land, and among others.
Companies are operating in the market aim at establishing a stronger foothold. As a part of the strategy, companies often take initiatives such as geography expansion, partnership/collaboration/ merger & acquisition to gain competitive edge. New product innovation and launches have remained the top priority of companies operating in this market.

- In March 2019, FLIR Systems acquired Endeavor Robotics Holdings, Inc., to hold market footprint on surveillance, examination, and unsafe materials to support industrial & defence customers.

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Get Valuable Insights into Thermal Scanner Market

Future Market Insights, in its new offering, provides an unbiased analysis of the global thermal scanner market, presenting historical demand data (2015-2019) and forecast statistics for the period from 2020-2030. The study divulges compelling insights on the thermal scanner market based on the product (fixed/ mounted, and handheld/ portable), technology (cooled, uncooled), application (thermography, surveillance, firefighting, personal vision system, ruggedized smartphone, military, and others), wavelength (long-wave infrared (LWIR), mid-wave infrared (MWIR), short-wave infrared (SWIR)), price range (high/ premium, and mass/economy) across seven major regions.

Summary

According to Future Market Insights' recent market report titled "Thermal Scanner: Global Industry Analysis 2015-2019 and Opportunity Assessment 2020-2030", Advancement in thermal technology, growing application and product availability are considered as the prime factors driving the thermal scanner market. The global thermal scanner market in 2020 was valued at ~ US$ 3.8 Bn and is projected to grow at a CAGR of ~ 10% during the forecast period.