The shortwave infrared (SWIR) market is expected to be valued US$ 418.0 million in 2033. Over the next 10 years, the market is expected to grow at a compound annual growth rate of 7.8%. It is projected to reach US$ 197.1 million by 2023.
Because regular cameras have limitations with regard to light and surroundings, shortwave infrared cameras are employed in certain situations. When conditions are unusual, such during the rainy season, there is fog, smoke, or other abnormal conditions, shortwave infrared cameras come in handy.
Because military officers must identify suspicious activity along the country’s borders, they frequently deploy these cameras for defence purposes. Because they offer a night vision mode, shortwave infrared cameras are utilised in low light and at night.
They can easily differentiate between water vapors, temperatures, and different materials. Owing to these features, shortwave infrared devices can be used in spectroscopy, astronomy, and geology.
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Increasing adoption of shortwave infrared devices for surveillance and tracking applications is expected to promote additional growth. Military uses for shortwave infrared technology are anticipated to surge tremendously.
Shortwave infrared cameras have arisen to provide monitoring services for securing dangerous areas. They can be mounted on trucks, buildings, and unmanned aerial aircraft. They have the ability to detect any dangers or criminal behavior.
Key Takeaways from Shortwave Infrared (SWIR) Market
- In the historical period, the shortwave infrared market flourished at a CAGR of 8.7%, reaching US$ 181.5 million in 2022.
- By 2033, it is anticipated that the USA shortwave infrared market size will be worth US$ 134.7 million.
- Between 2023 and 2033, the shortwave infrared market in the United Kingdom is anticipated to surge at a 7.0% CAGR.
- The forecast timeframe is expected to see the Japan shortwave infrared business generate an absolute dollar potential of US$ 15,3 million.
- The market for shortwave infrared in South Korea is anticipated to expand at a CAGR of 8.2% during the anticipated period.
“Spectroscopy and astronomy both make substantial use of shortwave infrared linear cameras. They are employed to locate distant galaxies objects. At the same time, they are used to assess characteristics such as temperatures and determine if galaxies contain water,” says a lead analyst at Future Market Insights.
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Competitive Landscape: Shortwave Infrared (SWIR) Market
Market participants for shortwave infrared are consistently expanding their product lines and creating better analytical solutions. A select few shortwave infrared manufacturers are concentrating on partnerships, technological alliances, and product launch plans. The market’s tier 2 players want to expand their shortwave infrared market share.
The leading shortwave infrared firms include Raptor Photonics, Hamamatsu Photonics K.K., New Imaging Technologies, Allied Vision Technologies, Princeton Infrared Technologies Inc., Collins Aerospace, Leonardo DRS, InView Technology Corporation, Lynred, FLIR Systems Inc., Opgal Optronic, and IRCameras LLC among others.
For instance,
- In December 2021, TriEye, an Israel-based shortwave infrared sensing solutions provider, announced that it raised US$ 74 million in a funding round. It was led by M&G Investments, Varana Capital, and Samsung Ventures. This deal takes the total funding to the company to US$ 96 million. The funds will be utilized to commercialize spectrum enhanced detection and ranging (SEDAR). They are TriEye’s imaging and ranging solutions for advanced driver assistance systems and autonomous vehicles.
- In August 2021, Collins Aerospace, a USA-based defense equipment manufacturer announced that it has signed a definitive agreement to acquire FlightAware. The latter is a digital aviation company that provides decision making tools and global flight tracking solutions. Customer experience, data collection, and analytics from FlightAware are expected to help Collins Aerospace. It aims to provide a full ecosystem to its customers. The digital aviation solution is expected to help the defense and aviation industry bring a new revolution.
- In May 2021, Teledyne Technologies Incorporation based in the USA announced that it has acquired FLIR Systems. It designs and produces thermal imaging cameras and sensors. FLIR will be included in Teledyne’s digital imaging segment. It is expected to operate under the name Teledyne FLIR. Total consideration amount for the whole transaction is expected to be US$ 8.2 billion. Teledyne FLIR is set to provide a full spectrum of imaging technologies and complete imaging systems.
Get More Exclusive Insights into Shortwave Infrared (SWIR) Market Study
Future Market Insights, in its new offering, presents an unbiased analysis of the shortwave infrared market, presenting historical market data (2018 to 2022) and forecast statistics for the period of 2023 to 2033.
The study reveals extensive growth in the shortwave infrared market in terms of type (area scan, line scan), technology (cooled, uncooled), end user (electronics & communication, aerospace, food & beverages, automotive, medical & healthcare, military & defense), and Region.
Shortwave Infrared (SWIR) Market Outlook by Category
By Type:
- Area Scan
- Line Scan
By Technology:
- Cooled
- Uncooled
By End User:
- Electronics and Communication
- Aerospace
- Food and Beverages
- Automotive
- Medical and Healthcare
- Military and Defense
- Others
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Report Customization available https://www.futuremarketinsights.com/customization-available/rep-gb-16748
Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
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