Latest News- Rugged Thermal Cameras Market: Security and surveillance is expected to lead the Application segment during 2024-2028

The Rugged Thermal Cameras Market is being driven by Increasing military expenditure

The Rugged Thermal Cameras Market is expected to grow at a CAGR of 8.51% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 2677.3 million. The rugged thermal cameras market is poised for growth as end-users invest in advanced thermal sensors for applications such as photogrammetry, which offer enhanced capabilities. Notably, the integration of hyperspectral imagery is expected to boost market expansion, providing increased accuracy and superior image quality. For instance, PrecisionHawk, a leading market participant, has expanded its product line with rugged thermal cameras, scheduled for release by Q4 2022 as an optional upgrade to its drone data packages, featuring hardware from SZ DJI Technology Co. This strategic move underscores the market's potential for significant expansion during the forecast period. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Security and surveillance
  • Monitoring and inspection
  • Detection and measurement
  • Others
• End-user
  • Military and defense
  • Commercial
  • Industrial
  • Residential
• Type
  • Handheld
  • Fixed
• Technology Specificity
  • Cooled
  • Uncooled
• Geography
  • North America
    • US
    • Mexico
  • APAC
    • Australia
    • China
    • India
    • Japan
    • South Korea
  • Europe
    • France
    • Germany
    • Italy
    • Spain
    • UK
  • Middle East and Africa
    • UAE
  • South America
    • Brazil

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing military expenditure
• Increasing demand from healthcare industry
• Regulations that mandate use of radiation detection, monitoring, and safety solutions

However, the market also witnesses some limitations, which are as follows:

• Inaccuracy in image data collection
• Safety and privacy issues
• Stringent government regulations

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Market Scope in Rugged Thermal Cameras Market Research Report

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Research Analysis Overview

The Rugged Thermal Cameras market is witnessing significant growth due to increasing surveillance activities in various sectors such as military, industrial, and marine. Military expenditure on advanced surveillance technologies is a major driving factor for this market. Companies like Fluke and Exavision lead the Rugged Thermal Cameras market with their high-performance IR cameras and sensors. In the military sector, Rugged Thermal Cameras are used for naval observation, weapon sights, and battle environments. The French Navy, for instance, uses these cameras for UAVs and DVEs (Diver Propelled Underwater Vehicles) for surveillance and reconnaissance. In the industrial sector, these cameras are used for non-destructive testing of equipment and economic activities. Moreover, Rugged Thermal Cameras are increasingly being used in security and surveillance domain for security breaches detection. The use of Rugged Thermal Cameras in UAVs, drones, gimbals, and smartphones is also on the rise. The market for Rugged Thermal Cameras is expected to grow further with the increasing demand for thermal imaging in military vehicles, tanks, and weapon sights. The economic activities in the marine sector, such as oil and gas exploration, are also driving the demand for Rugged Thermal Cameras in the marine sector.

Market Research Overview

The Rugged Thermal Cameras market is a significant segment of the broader global Electronic Equipment and Instruments market. This market encompasses manufacturers of electronic instruments and associated components. According to Technavio's market analysis, the Electronic Equipment and Instruments market's growth is driven by the increasing demand for electronic test and measurement equipment. This trend is fueled by technological advancements and digital transformation in various industries, such as semiconductors, automotive, IT, consumer electronics, industrial, energy, and medical devices. The need for rugged thermal cameras, specifically, is driven by the demand for non-contact temperature measurement solutions in these sectors.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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