in ,

Study: Diverse Applications Drive Market Growth for Thermal Imaging Systems

Study: Diverse Applications Drive Market Growth for Thermal Imaging Systems - top government contractors - best government contracting event

SurveillanceCamsThe use of thermal imaging technology for multiple applications has helped create a $3.1 billion industry as of 2012, according to a market analysis report by Research and Markets.

Research and Markets said Wednesday the thermal imaging market is forecast to enjoy a compound annual growth rate of 9.76 percent from 2013 to 2019.

The report indicated that organizations increasingly use thermal imaging cameras for surveillance, maintenance and security purposes.

Market growth will also be driven by efforts to upgrade weapons and other defense equipment in countries such as China, India, Japan and the U.K., according to the research firm.

BAE Systems, DRS Technologies, L-3 Communications, Raytheon, FLIR Systems, Danaher and Axis Communications are among key industry players featured in the report.

ExecutiveBiz Logo

Sign Up Now! ExecutiveBiz provides you with Daily Updates and News Briefings about Industry News

mm

Written by Mary-Louise Hoffman

is a writer of news summaries about executive-level business activity in the government contracting sector. Her reports for ExecutiveBiz are focused on trends and events that drive the GovCon industry to include commercial technologies that private companies are developing for federal government use. She contributes news content to ExecutiveBiz’s sister sites GovCon Wire and ExecutiveGov.

Northrop Integrates ANSYS Avionics into Black Hawk Display Systems; Simona Kelley Comments - top government contractors - best government contracting event
Northrop Integrates ANSYS Avionics into Black Hawk Display Systems; Simona Kelley Comments
QinetiQ NA, Velodyne to Demo LiDAR-Equipped Robot at Industry Event - top government contractors - best government contracting event
QinetiQ NA, Velodyne to Demo LiDAR-Equipped Robot at Industry Event