Thermal Imaging Market Size Worth $7.66 Billion by 2031, at 7.7% CAGR, Globally | Exclusive Report by The Insight Partners

The Global Thermal Imaging Market share is set for explosive growth with a CAGR of 7.7% during 2024–2031, it was valued at $4.54 billion in 2024, with projections indicating a surge to $7.66 billion by 2031. This remarkable expansion is driven by increase in demand due to rise in military expenditure.

/EIN News/ -- US & Canada, March 20, 2025 (GLOBE NEWSWIRE) -- According to a new comprehensive report from The Insight Partners, "Thermal Imaging Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Product Type, Application, Type, Technology, End-Use Industry, and Geography", the global thermal imaging market is observing significant growth owing to rise in military expenditure and robust use of thermal imaging in healthcare.

For More Information and To Stay Updated on The Latest Developments in The Thermal Imaging Market, Download The Sample Pages: https://www.theinsightpartners.com/sample/TIPTE100000348/

The thermal imaging market was valued at US$ 4.54 billion in 2024 and is projected to reach US$ 7.66 billion by 2031; it is expected to register a CAGR of 7.7% during 2025–2031.

The report runs an in-depth analysis of market trends, key players, and future opportunities. In general, the Thermal Imaging is applicable in multiple vehicle types that are expected to register strength during the coming years.

Market Overview and Growth Trajectory:

Market Growth: The Thermal Imaging market is expected to reach US$ 7.66 billion by 2031 from US$ 4.54 billion in 2024, at a CAGR of 7.7% during the forecast period. Thermal imaging is a sophisticated, noninvasive technique that uses infrared technology to detect heat emissions from various objects. This process transforms infrared energy—which is invisible to the human eye—into a visible light display. Thermal imaging is based on the variations in the infrared (IR) energy emitted by all objects above absolute zero temperature. A color palette, with each color representing a specific range of temperatures, makes it easier to interpret a thermal image. For example, shades of blue frequently indicate cooler temperatures, whereas shades of red indicate hotter areas. In industrial inspections, a thermal imaging camera helps detect overheated components, insulation failures, and other potential issues. Thermal imagers can detect hot spots during electrical inspections, indicating areas at risk of overheating or fire.

For Detailed Market Insights, Visit: https://www.theinsightpartners.com/reports/thermal-imaging-market

Rise in Military Expenditure: In April 2024, global military spending surged amid wars and rising geopolitical tensions, according to the Stockholm International Peace Research Institute (SIPRI). The change in the modern warfare system has been urging governments of various countries across the globe to allocate higher funds toward respective military forces. The budget allocation enables military forces to procure advanced technologies and equipment from domestic or international manufacturers. Various countries are adopting military vehicle modernization practices. The continuous demand for new technologies for combat and noncombat operations by the defense forces is further boosting defense spending worldwide. According to Australia's budget for 2024–2025, the government will spend US$ 36.8 billion on defense, an increase of 6.3% compared to 2023–2024. In the budget release for the fiscal year 2024–2025, the government has dedicated US$ 25.2 billion for equipment acquisitions for the coming fiscal year. Under the New Zealand 2023–2024 defense budget, the Royal New Zealand Navy will receive ~US$ 418 million (NZ$ 714 million)—an increase from the 2022-2023’s US$ 391 million (NZ$ 667 million). Similarly, the Stockholm International Peace Research Institute (SIPRI) revealed that the US defense spending accounted for ~40% of global military spending in 2023. Additional military assistance supplied to Ukraine to aid its conflict contributed to a US$ 55 billion rise in US defense spending between 2022 and 2023.

Stay Updated on The Latest Thermal Imaging Market Trends: https://www.theinsightpartners.com/sample/TIPTE100000348/

Integration of Artificial Intelligence in Thermal and Acoustic Imaging Systems: The integration of artificial intelligence (AI), supported by its capabilities in machine learning, data processing, and pattern recognition, can enhance the performance and utility of thermal and acoustic imaging systems across defense, environmental monitoring, healthcare, and other industrial applications. AI can improve the accuracy and effectiveness of thermal and acoustic imaging systems with the help of advanced data analysis and interpretation techniques. These imaging technologies generate vast amounts of data, where AI algorithms can analyze hidden patterns much faster and more accurately than traditional methods. AI can also detect anomalies or potential threats in the data. Compared to traditional methods, AI-based intelligent acoustic imaging techniques can autonomously, efficiently, and accurately identify underwater targets.

Geographical Insights: In 2024, North America led the market with a substantial revenue share, followed by Europe and Asia Pacific. Asia Pacific is expected to register the highest CAGR during the forecast period.

Need A Diverse Region or Sector? Customize Research to Suit Your Requirement: https://www.theinsightpartners.com/inquiry/TIPTE100000348/

Thermal Imaging Market Segmentation, Applications, Geographical Insights:

• In terms of product type, the thermal imaging market is segmented into cameras, scopes, and modules. The cameras segment held the largest market share in 2024.
• Based on technology, the thermal imaging market is divided into cooled and uncooled. The cooled segment held the largest market share in 2024.
• By application, the thermal imaging market is segmented into SWIR, MWIR, and LWIR. The LWIR segment held a larger market share in 2024.
• Based on type, the thermal imaging market is divided into handheld and standstill. The handheld segment held the largest market share in 2024.
• By end-user industry, the thermal imaging market is segmented into automotive, consumer, industrial, medical, defense and aerospace, and others. The industrial segment held a larger market share in 2024.
• The Thermal Imaging market is segmented into four major regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.

Key Players and Competitive Landscape:

The Thermal Imaging Market is characterized by the presence of several major players, including:

• Teledyne FLIR LLC
• Testo SE & Co. KGaA
• Fluke Corporation
• UNI-TREND TECHNOLOGY (CHINA) CO., LTD.
• Hangzhou Microimage Software Co., Ltd.
• Megger Group Limited
• SDT International SA/NV
  
  

These companies are adopting strategies such as new product launches, joint ventures, and geographical expansion to maintain their competitive edge in the market.

For Region-Specific Market Data, Check Out Brief Sample Pages: https://www.theinsightpartners.com/sample/TIPTE100000348/

Thermal Imaging Market Recent Developments and Innovations:

• " Teledyne FLIR and VSI Labs Testing Shows How Thermal Imaging Helps Vehicle Makers Meet Nighttime AEB Federal Safety Standards "
• " Teledyne FLIR Defense to Deliver New Airborne Surveillance Systems to NL EASP AIR for Maritime Search & Rescue Operations "
• " HIKMICRO Reinforces its Tech-Explorer Image with the Launch of Innovative STELLAR 3.0 and THUNDER 3.0 Products "
• " Leonardo DRS Receives $19 Million U.S. Army Contract for Production of Advanced Crew-Served Weapon Sights "

"Don't Delay, Purchase Today! [Free 10% Customization, Free Post-Sale Assistance, PDF Deliverable]" - Purchase Premium Copy of Global Thermal Imaging Market Size and Growth Report (2021-2031) at: https://www.theinsightpartners.com/buy/TIPTE100000348/

Conclusion:

The rise in military expenditure, robust use of thermal imaging in healthcare, and application of acoustic imaging for environmental monitoring are the drivers of the global thermal imaging market. However, supply chain disruption is restraining the growth of the market. Further, integration with artificial intelligence and the expansion of the electric vehicle market is expected to create opportunities for the thermal imaging market growth during the forecast period. Moreover, the rising demand for miniaturization of electronic components is likely to bring new trends to the market in the coming years.

The report from The Insight Partners, therefore, provides several stakeholders—including component providers, system technology integrators, system manufacturers and others—with valuable insights into how to successfully navigate this evolving market landscape and unlock new opportunities.

Related Report Titles:

• Thermal Imaging Cameras Market Size and Forecast (2021 - 2031)
• Infrared (IR) Sensing Imaging Market Size and Forecasts (2021-2031)
• Infrared Imaging Market Size and Forecasts (2021 - 2031)
• 3D Imaging Market Size and Forecasts (2021 - 2031)
• Low-light Imaging Market Size and Forecasts (2021-2031)
  
  

About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

Contact Us:

If you have any queries about this report or if you would like further information, please contact us:

Contact Person: Ankit Mathur
E-mail: ankit.mathur@theinsightpartners.com
Phone: +1-646-491-9876
Press Release: https://www.theinsightpartners.com/pr/thermal-imaging-market/